Volume 17, Issue 16 May 18, 2020
In this Issue
Editor's Note
A Strong Storage Injection as we Transition to Warmer Weather
Weather
Washington, D.C. Area Cooling/Heating Degree Days
Editor's Note
A Strong Storage Injection as we Transition to Warmer Weather
Weekly review for May 9 - May 15, 2020
 
On Thursday, the U.S. Energy Information Administration (EIA) reported that working gas in storage as of Friday, May 8, 2020 was 2,422 BCF.  This was an increase of 103 BCF from the previous week and was in line with what the market was expecting.  Storage levels are 799 BCF (49.2%) higher than a year ago, and 413 BCF (20.6%) higher than the 5 year average for this date.  
 
As we head towards summer, we are expecting some warmer than normal weather in our region.  Both the 6-10 day and 8-14 day outlooks from the National Weather Service are predicting warmer than normal temperatures for the Mid-Atlantic region.
 
Prices were down sharply this week for both gas and power.  At the end of the week, the NYMEX natural gas 12-month strip was down 5.4%, while the PJM West Hub 12-month forward curve was down 6.4%.    
 
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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.