Washington Gas Energy Services: A Washington Gas Affiliate Complany
Volume 12, Issue 7
We Know Energy
February 21, 2014 Energy Update
In this Issue
Editor's Note
The Return of The Polar Vortex, Part III
Spotlight on Clean Currents Commercial Accounts
Clean Currents Customers can look to WGES for renewable energy products
Natural Gas Fundamentals
Natural Gas Storage Update: Storages Are 40% Below Last Year's Level. Data Released Feb. 20, 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
The Return of The Polar Vortex, Part III
Week in Review for Feb. 14-21, 2014

Do not put away your sweaters. According to the National Oceanic Atmospheric Administration, another polar vortex is heading our way next week. The forecast for the time period of February 26 to March 2, 2014 calls for the return of unusually cold weather east of the Mississippi. 

This forecast spooked the energy markets and 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 2.6%, and the 12-month average price for peak power on the PJM rose 6%.

This erratic weather spooks the marketplace because these persistent cold snaps are draining the natural gas storage fields ahead of schedule (the traditional withdrawal season ends March 31st). Currently, natural gas storage fields are operating at a 10-year low. In fact, the natural gas storage numbers released last Thursday by the Energy Information Administration show that natural gas storage fields are now 40% below last year's levels and 34% below the five-year average. Last year at this time, natural gas inventories were 17.7% above the five-year average.

This growing deficit is keeping upward pressure on both electricity and gas prices. If February and March are colder than normal, the industry will spend all Spring and Summer filling up the depleted storage fields which may keep upward pressure on both electricity and gas prices for the next few months.  

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