Volume 18, Issue 10 October 5, 2022
In this Issue
Editor's Note
Ian Impacts Supply and Demand
Energy Market Charts
Fall Energy Savings Tips
Washington, D.C. Area Cooling/Heating Degree Days
Green Products
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Editor's Note
Ian Impacts Supply and Demand
Week in review for September 25-October 1, 2022

This week Hurricane Ian made landfall in Florida causing catastrophic damage and impacting millions of residents.  The impact on energy prices was much less severe with minor supply reductions due to shuttering of some Gulf wells more than offset by lower demand due disruptions to LNG exports as well as reduction in power burn.

Gas and power prices were down this week on continued strong U.S. natural production and indications that the current U.S. storage deficit is easing enough to be in decent shape by the start of winter.  The prompt 12-month NYMEX natural gas strip (Nov22-Oct23) was down 3.6% for the week, the 12-month PJM STD 7x24 strip was down 2.3%.

Thursday, the U.S. Energy Information Administration (EIA) reported that working gas in storage as of Friday September 23, 2022, was 2,977 Bcf.  This was an increase of 103 Bcf from the previous week, higher than expectations. Inventories are now 180 Bcf lower than last year at this time, and 306 Bcf below the 5-year average; low levels, but much improved from the deficits of 296 vs last year and 367 versus 5-year average we saw last month.

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