Volume 18, Issue 10 June 6, 2022
In this Issue
Editor's Note
What a Difference a Day Makes
Energy Market Charts
Feature
Sustainable Solutions
Weather
Washington, D.C. Area Cooling/Heating Degree Days
Our Wind Power Partners

Visit here for a full list of WGL Energy Wind Power Partners.

 
To find out more about a green power purchase for your organization,
visit: wglenergy.com/commercialgreen

Connect with us here:



 

 

 

For more information, contact your WGL Energy business development manager or lgc@wglenergy.com.
Editor's Note
What a Difference a Day Makes
Week in review for May 29 - June 4, 2022

Thursday, the U.S. Energy Information Administration (EIA) reported that working gas in storage as of Friday May 27, 2022 was 1,902 Bcf. This was an increase of 90 Bcf from the previous week, a higher than expectations, contributing to a decrease in the front end of the curve Thursday. Inventories are still very low, now 397 Bcf lower than this same time last year, and 337 Bcf below the 5-year average.  

For yet another week, prices have been swinging wildly and remain near the 5-year highs. The prompt 12-month NYMEX natural gas strip (Jul22-Jun23) was down 2.8% and the 12-month PJM STD 7x24 down 4.4% for the week. Prices were up further out in the curve for both power and gas.

Significant heat over the Memorial Day weekend and the following Tuesday led to significant PJM loads on 5/31/2022. Tuesday peaked at 138.2 GW which would have been high enough to be a contender for the eventual 5-highest peaks of the 2022 Summer that would influence customers’ future capacity price, if it had occurred one day later, in the June 1 through September 30 period utilities in PJM use for Peak Load Contribution (PLC) calculations. WGL Energy issues alerts when PJM load is forecast to be high enough to potentially be one of the 5 peaks. Commercial customers wanting that information to try to lower their capacity obligation or just to be informed of potential high system load, can contact their WGL Energy Business Development manager. Currently there are no potential peak days forecast in the near-term.


Share Share This Article Share Share Share
spacer spacer
Print This Article Print This Issue
Print This Article Print This Article
spacer spacer
Next Article Next Article
Return to Top Return to Top
spacer spacer
WGL Energy Home  |  Forward to a Friend  |  Plain Text Version  |  Past Issues
About WGL Energy
WGL Energy delivers a full spectrum of energy offerings, including electricity, natural gas, renewable energy, carbon reduction, and energy efficiency provided by WGL Energy Services, Inc.

WGL Energy strives to provide concise and accurate information from dependable sources for information contained in this report. Nevertheless, WGL Energy does not warrant the authenticity of such information. This report is not intended to serve as a trading tool for customers or for potential customers. If you would like to like to receive this information via email, please send your request to lgc@wglenergy.com.

To ensure delivery of the ENERGY UPDATE, please add lgc@wglenergy.com to your email address book or Safe Sender List. If you are still having problems receiving our communications, see our white-listing page for more details.

© WGL Holdings, Inc.
WGL Energy, 8614 Westwood Center Drive, Suite 1200, Vienna, VA 22182-2260 (USA)