Washington Gas Energy Services: A Washington Gas Affiliate Complany
Volume 12, Issue 6
We Know Energy
February 14, 2014 Energy Update
In this Issue
Editor's Note
Upward Pressure on Energy Prices as the Market Looks for a Thaw
Spotlight on Clean Currents Commercial Accounts
FAQs for Clean Currents Commercial Accounts
Natural Gas Fundamentals
Natural Gas Storage Update: Levels At 10 Year Low. Data Released Feb. 13, 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
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
Upward Pressure on Energy Prices as the Market Looks for a Thaw
Week in Review for Feb. 7-13, 2014

Cold weather and high energy demand have once again placed upward pressure on energy prices this week. For this seven-day report period, the average 12-month price for natural gas on the New York Mercantile Exchange (NYMEX) rose 1.8%, and the 12-month average price for peak power on the PJM rose 1%. Luckily, the moderating weather forecast kept prices from make any big gains.  

The month of January was marked by record energy demand across the country. According to Bentek, "the U.S. in January consumed 251 Bcf more gas than any other month of record." Additionally, according to Bentek, the "U.S. power burn in January averaged 21.4 Bcf/day, an all-time record high for January." 

The cold weather patterns and the record high energy demand over the last six weeks have kept upward pressure on energy prices. Since Jan. 1, 2014, the average 12-month price for natural gas on the New York Mercantile Exchange (NYMEX) has risen 10% and the 12-month average price for peak power on the PJM has risen 17%.

Where do energy prices go from here? The concern is that the natural gas storage bubble has disappeared. Natural gas storage levels are now 34% below last year's levels and 27% below the five-year average. Last year at this time, natural gas inventories were 16% above the five-year average.  

If February and March are colder than normal, the industry will spend all Spring and Summer filling up the depleted storage fields, keeping upward pressure on both electricity and gas prices. We need a warming trend to help keep on a lid on energy prices. Luckily, NOAA's 6-10 day outlook is finally calling for above average temperatures east of the Mississippi.  

spacer spacer
Print This Article Print This Issue
Print This Article Print This Article
spacer spacer
Next Article Next Article
Return to Top Return to Top
spacer spacer
WGES Home  |  Forward to a Friend  |  Plain Text Version  |  Past Issues
Washington Gas Energy Services strives to provide concise and accurate information from dependable sources for information contained in this report. Nevertheless, Washington Gas Energy Services does not warrant the authenticity of such information. This report is not intended to serve as a trading tool for customers or for potential customers. If you would like to like to receive this information via email, please send your request to wges_lgc@wges.com.

To ensure delivery of the ENERGY UPDATE, please add wges_lgc@wges.com to your email address book or Safe Sender List.
If you are still having problems receiving our communications, see our white-listing page for more details.

© Washington Gas Energy Services, Inc. (WGES). Headquarters located at 13865 Sunrise Valley Drive, Suite 200, Herndon, VA 20171-4661 (USA).