Washington Gas Energy Services: A Washington Gas Affiliate Complany
Volume 12, Issue 3
We Know Energy
January 24, 2014 Energy Update
In this Issue
Editor's Note
Spot Prices Hitting All-Time High
Natural Gas Fundamentals
Natural Gas Storage Update: Storage Levels Still Well Below Five Year Average. Data Released January 23, 2014
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 Heating Degree Days*
Recent Features
Washington Gas Energy Services Acquires More Than 20,000 Electricity and Natural Gas Customers from Castlebridge Energy Group (November 1, 2013)


 



Washington Gas Energy Services to Offset Carbon Impact of Upcoming RETECH Conference (August 30, 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
Spot Prices Hitting All-Time High
Week in Review for January 17 - 23, 2014

For the second week in row, energy prices spiked upward. For this seven-day report period, the average 12-month price for natural gas on the New York Mercantile Exchange (NYMEX) rose 4.1%, and the 12-month average price for peak power on the PJM rose 9%.

The onset of extremely cold temperatures in the lower 48 states is keeping upward pressure on energy prices. Not only are prices rising on both natural gas and electricity "futures contracts," the prices for spot gas and spot electricity in the daily markets are trading at an all-time high. Natural gas prices for next day delivery  are trading at more than $10/therm and daily electricity prices are trading for more than $.50/kwh in the daily spot markets.

The impact of the colder than normal temperatures can also be seen in the natural gas storage levels. The colder than normal temperatures are creating record withdrawals from the natural gas storage fields. Last year at this time natural gas inventories were 12% above the five-year average. Storage levels at the end of this report period however, were 13.2 % below the five-year average.

The record demand for both natural gas and electricity and the growing storage deficit are keeping upward pressure on energy prices. We need a warming trend to calm the markets. Think spring.

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