Volume 17, Issue 31 September 21, 2020
In this Issue
Editor's Note
Power and Gas Markets Sharply Down
Weather
Washington, D.C. Area Cooling/Heating Degree Days
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Editor's Note
Power and Gas Markets Sharply Down
Weekly review for September 12 - 18, 2020
 
On Thursday, the U.S. Energy Information Administration (EIA) reported that working gas in storage as of Friday, September 11, 2020 was 3,614 Bcf.  This is an increase of 89 Bcf from the previous week. Inventories are currently 535 Bcf higher than last year during this same period and 421 Bcf above the 5-year average.
 
After some volatility early in the week due to tropical activity, the power and gas markets both ended the week sharply down, especially for Q4 2020. The storage injection this week exceeded the high end of expectations. There is concern that storage capacity is reaching its limits at a time when cooling demand is waning and heating demand has not yet kicked in. Temperatures are forecast to be slightly warmer leaning for the next 2 weeks, further suppressing demand in an already low demand time of the year.
  
Overall, the PJM West Hub 12 Month curve decreased 3.7% this week while the NYMEX natural gas 12-month curve decreased 3.1%.     
 
 
 
 
 
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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