Washington Gas Energy Services: A Washington Gas Affiliate Complany
Volume 12, Issue 5
We Know Energy
February 7, 2014 Energy Update
In this Issue
Editor's Note
January 2014 Sets Numerous Records.
Spotlight on Clean Currents Commercial Accounts
FAQs for Clean Currents Commercial Accounts
Natural Gas Fundamentals
Natural Gas Storage Update: Storage Levels at 10 Year Low. Data Released Feb. 6, 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.
Natural Gas Fundamentals
Natural Gas Storage Update: Storage Levels at 10 Year Low. Data Released Feb. 6, 2014

 

 

Current Week

Last Week 

Net Change 

This Week Last Year 

Prior 5 Year Average 

 

Stocks (Bcf) 

Stocks (Bcf) 

(Bcf) 

Stocks (Bcf) 

Average (Bcf) 

Total Lower 48 

1,923

2,185

-262

2,701

2,479

The sustained cold weather has created record high withdrawals from the natural gas storage fields this winter. As a result, at the end of Jan. 31, 2014, the natural gas storage fields were operating below 2,000 Bcf  which was a new 10 year low for this time of year.

For this report period, we saw an unusually large withdrawal of 262 Bcf  which was the fifth largest withdrawal ever recorded by the EIA.  This week's withdrawal was twice the size of last year's withdrawal of 129 Bcf  and 73% greater than the five-year average withdrawal of 151 Bcf.

The deficit continues to grow. Last year at this time, natural gas inventories were 15% above the five-year average. At the end of this report period, storages were were 28% below last year's levels and  22.4% below the five-year average.

This growing deficit is keeping upward pressure both electricity and gas prices.

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