Washington Gas Energy Services: A Washington Gas Affiliate Complany
Volume 11, Issue 43
We Know Energy
November 1, 2013 Energy Update
In this Issue
Editor's Note
Weather IS the Wild Card for the Short Term
News From Washington Gas Energy Services
Washington Gas Energy Services Acquires More Than 20,000 Electricity and Natural Gas Customers from Castlebridge Energy Group
Natural Gas Fundamentals
Natural Gas Storage Update: What a Difference One Week Makes. Data Released Oct. 31, 2013
Rig Count for Natural Gas
NYMEX Natural Gas Monthly Settlements for the Past 12 Months
NYMEX Values per Month for the Forward 12 Months
NYMEX Graph for Natural Gas - 12 Month Average Price per Therm at the Louisiana Well-Head
PJM Electricity
PJM Graph for Electricity - 12 Month Average Peak Power Price
Weather
Local Cooling Degree Days*
Recent Features
Washington Gas Energy Services to Offset Carbon Impact of Upcoming RETECH Conference (August 30, 2013)


 


Deadline Approaching for D.C. Energy and Water Benchmarking Requirement (August 23, 2013)


 

Washington Gas Energy Services Receives District of Columbia's 2013 Mayor's Sustainability Award (July 26, 2013)


 


WGES Ranked Among Top Retail Energy Suppliers in Customer Satisfaction by J.D. Power (July 12, 2013)



Our Wind Power Partners
Green Power Leadership Award Winner - U.S. Department of Energy


Visit wges.com/partners for full list of WGES Wind Power Partners.

 
To find out more about a green power purchase for your organization, call 703-793-7578, or visit wges.com/commercialwind.

For more information, contact your WGES Account Manager or wges_lgc@wges.com.
Editor's Note
Weather IS the Wild Card for the Short Term
Week in Review for October 25 - 31, 2013

Both natural gas and electricity prices fell slightly for the second week in a row. The average 12-month price for natural gas on the New York Mercantile Exchange (NYMEX) fell 3%, while the 12-month average price for peak power on the PJM also fell 1.8%.

This week, the market seemed to focus on the short term weather forecast and the natural gas production numbers. On the weather front, the National Oceanic and Atmospheric Administration (NOAA) revised their 6-10 day outlook covering the period of November 6-10. They are now forecasting above-normal temperatures east of the Mississippi for the second week of November. Warmer-than-normal temperatures means less gas may be needed for heating. This type of news tends to temporarily place downward pressure on energy prices.

On the production side, industry publications continue to report that natural gas production is at an all-time high. This week's Gas Daily referenced study by the U.S. Energy Information Administration (EIA) stating that, "natural gas production in the lower 48 states hit a record high in August." Even though the natural gas rig count is down 13% from last year, the technological advances made within the shale gas industry have moved production levels to record highs.

Minimal demand and record high production levels are keeping energy prices low. For now, both electricity and natural gas prices are trading near their second lowest level in nine years. However, the winter heating season is just starting. The winter weather will likely drive energy prices during the near term.

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