Volume 17, Issue 41 December 14, 2020
In this Issue
Editor's Note
Prices Up After Larger Than Expected Storage Withdrawal
Washington, D.C. Area Cooling/Heating Degree Days
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Editor's Note
Prices Up After Larger Than Expected Storage Withdrawal
Weekly review for December 5 - December 11, 2020
On Thursday, the U.S. Energy Information Administration (EIA) reported that working gas in storage as of Friday, December 4, 2020 was 3,848 BCF.  This was a decrease of 91 BCF from the previous week and was a higher withdrawal than the market was expecting.  Storage levels are 309 BCF (8.7%) higher than a year ago, and 260 BCF (7.2%) higher than the 5 year average for this date.
December is off to a cooler than normal start in our region.  For the first 10 days of the month, Heating Degree Days as measured at Reagan Washington National Airport have been approximately 7% higher than the 10 year average.  However, the 8-14 day outlook from the National Weather Service predicts a return to warmer than normal temperatures for the East Coast.
Prices were up this week for gas and power.  At the end of the week, the NYMEX natural gas 12-month strip was up 4.1%, while the PJM West Hub 12-month forward curve was up 0.7%.  
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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