Washington Gas Energy Services: A Washington Gas Affiliate Complany
Volume 12, Issue 14
We Know Energy
April 11, 2014 Energy Update
In this Issue
Editor's Note
Winter Is Over But Not Forgotten
Spotlight on Clean Currents Commercial Accounts
Clean Currents Customers can look to WGES for renewable energy products
Natural Gas Fundamentals
Natural Gas Storage Update: First Injection of The Season. Data Released April 10, 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
Winter Is Over But Not Forgotten
Week in Review for April 4 -10, 2014

For this seven-day report period, the average 12-month closing price for natural gas on the New York Mercantile Exchange (NYMEX) came in at $0.469/therm, a 3% increase from last week. Meanwhile, the 12-month average price for peak power on the PJM closed flat relative to the previous week's close. 

Luckily, since March 1, 2014 energy prices have been unable to sustain any big rallies like the ones we experienced from November 1,  2013 to February 28, 2014.  Apparently the traders are now focused on the fact that  the peak heating months are over and that Spring weather is on the way. Since March 4th the average 12-month closing price for natural gas on the New York Mercantile Exchange (NYMEX) has only risen 1% and the 12-month average price for peak power on the PJM has only risen 1.6%

Although Winter is officially over, don't be lulled to sleep. The results of this past Winter will likely linger for the next six months because the unusually cold temperatures that hit the U.S. wreaked havoc on the natural gas storage fields.  In fact, according to the U.S. Energy  Information Administration, "this winter's gas withdrawal season (generally considered to be from the beginning of November to the end of March) saw the largest storage withdrawal on record."

According to EIA,  the natural  gas storage levels are 55% below the five-year average. This means the industry will need to work extra hard  to replenish the storage field this summer. If  we have a hot summer, we will see a double demand component where  the power plant operators need natural gas to fuel their turbines and the gas utilities will need more gas than usual to replenish the storage fields. This double demand component could place upward pressure on energy prices during the summer. 

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