Washington Gas Energy Services: A Washington Gas Affiliate Complany
Volume 12, Issue 34
We Know Energy
September 19, 2014 Energy Update
In this Issue
Editor's Note
Old Man Winter Rules
Natural Gas Fundamentals
Natural Gas Storage Update: 22 in a row.
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 Cooling Degree Days*
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
Old Man Winter Rules
Week in Review for September 12-18, 2014

For the second week in a row, prices closed relatively flat. For this seven-day report period, the average 12-month price for natural gas on the New York Mercantile Exchange (NYMEX) rose 2% closing at  $0.394/therm while the 12-month average price for peak power on the PJM rose 1%.

Although we saw a nice price drop over the summer, prices have been trading in a relatively tight range over the last few weeks. This summer, from June 2, 2014 to September 2, 2014, natural gas prices fell 13% and peak power prices on the PJM fell 11%.  Over the last three weeks, however, electric prices rose 3% and natural gas prices closed at $.39/therm which replicated the closing price we saw on September 2, 2014.  

All eyes are on the weather forecasts. If we have mild temperatures over the next seven weeks, the industry should be able to refill the natural gas caverns before November 1. The prospect of heading into the winter with full storages would likely keep a lid on energy prices for the short term.    

However, if we have an early cold snap, we could experience problems getting the caverns filled by the November 1st target date. As you may recall, the natural gas storage fields are still 13% below the five-year average. If cold temperatures arrive early and slow the refill process, we could see upward pressure on energy prices. 

Winter is on the way. If you want to protect your budget from the price spikes that come with a cold winter, this is a good time to look at your renewal strategy.

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