Volume 13, Issue 2 January 9, 2015
In this Issue
Editor's Note
What A Difference A Year Makes
Energy Efficiency
EmPOWER Maryland Commercial and Industrial Grant Program
Natural Gas Fundamentals
Natural Gas Storage Update: First Triple Digit Withdrawal of Season
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*
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 WGL Energy Account Manager or wges_lgc@wges.com.
Editor's Note
What A Difference A Year Makes
Week in Review for January 2-8, 2015

This week the average 12-month price for natural gas on NYMEX fell 2.2% closing at $0.3047 therm while the 12-month average price for peak power on the PJM fell 3.8%. 

What a difference a year can make. Last winter, from November 3, 2013 to January 8, 2014, natural gas prices rose 14%, electricity prices rose 7%, and we all learned about the weather phenomenon called the Polar Vortex.  This winter, however, for the same months, the weather has been milder, Natural gas prices have dropped 21.7% and electricity prices have dropped 19%.

These price drops can be attributed to record high natural gas production and the mild December temperatures enjoyed in most of the country. Locally, for example, December 2014 was 17% warmer than normal. On top of all of this data, NOAA's new forecast calls for warmer than normal temperatures in most of the country for the period of January 14 - 22, 2015. 

The winter is young, but for now, record high supply and low demand has been the story. These story lines have been enough to keep downward pressure on prices through most of December. Thanks to this recent price drop, both natural gas and electric prices are now trading near their second lowest level in 10 years.

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