Washington Gas Energy Services: A Washington Gas Affiliate Complany
Volume 12, Issue 10
We Know Energy
March 14, 2014 Energy Update
In this Issue
Editor's Note
Hopefully Spring Arrives March 20
Spotlight on Clean Currents Commercial Accounts
Clean Currents Customers can look to WGES for renewable energy products
Natural Gas Fundamentals
Natural Gas Storage Update: Another Record Withdrawal. Data Released March 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
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
Hopefully Spring Arrives March 20
Week in Review for March 7- March 13, 2014

For this seven-day report period, the average 12-month price for natural gas on the New York Mercantile Exchange (NYMEX) fell 4.5% and the 12-month average price for peak power on the PJM fell 1.2 %. Although there were a number of variables that could have placed upward pressure on energy prices this week, the good news was that all eyes seemed focused on the fact that Spring starts March 20th and that the traditional heating season is almost over.

The marketplace seemed happy to know that Winter is almost over as the 6-10 day outlook from the National Oceanic and Atmospheric Administration called for the return of normal temperatures for most parts of the country east of the Mississippi for March19- March 23.    

If the marketplace had focused on this week's natural storage report, energy prices could have spiked upward again. This week's natural gas withdrawal set an all-time high for the month of March. The week's withdrawal of 195 Bcf was more than double the five-year average withdrawal of 95 Bcf. The natural gas storage fields were 46% below the five-year average. Two years ago, the natural gas storage levels were 51% above the five-year average.

Although energy markets were bearish this week, analysts were worried that energy prices could spike upward if we experience both an unusually hot summer and a continuation of low storage levels. The storage fields are operating  at an 11 year low. To offset this larger than normal deficit, the utilities will have to inject more gas than usual into the caverns during the upcoming re-fill season. This additional demand component could place upward pressure on energy prices during the summer months.

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).