Volume 13, Issue 3 January 16, 2015
In this Issue
Editor's Note
Prices Are Looking Good
Energy Efficiency
EmPOWER Maryland Commercial and Industrial Grant Program
Natural Gas Fundamentals
Natural Gas Storage Update: Largest Withdrawal of The 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
Prices Are Looking Good
Week in Review for January 9-15, 2015

The lingering cold temperatures that arrived in January topped the headlines this week, and for now, halted the recent price collapse  For this report week, the average 12-month price for natural gas on NYMEX rose 4% closing at $0.317 therm while the 12-month average price for peak power on the PJM rose  3%. 

Most  of the price increase occurred on Wednesday,  January 14, 2015  after  NOAA revised their 8-14 day weather forecast. The new forecast called for colder than normal  temperatures east of the Mississippi for the period of Jan. 22-28, 2015. This forecast spooked the market.

Plus, on top of the new weather forecast, the Energy Information Administration  (EIA) released their weekly storage report which was slightly bullish.  The report announced the largest withdrawal of the winter heating season. This week's withdrawal was larger than the five year for the first time in seven weeks. The storage deficit actually increased this week. The storage levels ended the week 3.8 % below the five-year average. This news may have also spooked the markets.

However this one week of bad news is unlikely to dampen the spirits of the consumers who have been reveling in the recent price collapse that occurred prior  to this week.  The Bears and consumers are joyous over the fact that natural gas prices have dropped 18.5% since Nov.3, 2014 and electricity prices on the PJM have dropped 16% over the same time period.

Natural gas and electricity prices are trading near their second lowest level in ten years.  The ten year low occurred in the Spring of 2012. This is an attractive time to look at your early renewal strategy.

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