Volume 16, Issue 8 March 11, 2019
In this Issue
Clean Energys Impact on the Jobs Outlook
Editor's Note
A Cold Start to March
Monthly Events
Energy Answers. Ask Us.
Local Heating Degree Days*
Our Wind Power Partners

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Editor's Note
A Cold Start to March
Weekly review for March 2 - 8, 2019


After a warmer than normal February, we started March off with some colder than normal temperatures. February weather for our region (as measured by heating degree days at Washington Reagan National Airport) was almost 11% warmer than the past 30-year average. While the first 7 days of March were almost 30% warmer than the 30-year average, this was the third coldest first week of March in the last 30 years.

On Thursday, the U.S. Energy Information Administration (EIA) reported that working gas in storage as of Friday, March 1st, 2019 was 1,390 BCF. This was a decrease of 149 BCF from the previous week and was a larger withdrawal than what the market was expecting. Storage levels remain at low levels – 243 BCF (14.9%) lower than a year ago, and 464 BCF (25%) lower than the 5-year average for this date.

Currently, the market is expecting end of heating season storage levels to fall to roughly 1,000 BCF. This would be the lowest storage level to end a winter since the polar vortex winter of 2013/2014. This will make it more challenging to refill storage this summer, especially if we have another hotter than normal summer.

Prices were mixed this week. At the end of the week, the PJM West Hub 12-month forward curve was down 0.4%, while the NYMEX natural gas 12-month strip was up 1.3%.


This past week's market information is provided as a courtesy to our customers and is not indicative of, nor should be relied upon, as representative of future transactions.

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