Energy Update - 11/16/2020  (Plain Text Version)

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In this issue:
Editor's Note
•  Prices Mixed This Week Amidst a Slow Start to the Heating Season
Weather
•  Washington, D.C. Area Cooling/Heating Degree Days

 

Editor's Note

Prices Mixed This Week Amidst a Slow Start to the Heating Season

Weekly review for November 7 November 13, 2020

 
On Friday, the U.S. Energy Information Administration (EIA) reported that working gas in storage as of Friday, November 6, 2020 was 3,927 BCF.  This was an increase of 8 BCF from the previous week and was a higher injection than the market was expecting.  Storage levels are 196 BCF (5.3%) higher than a year ago, and 176 BCF (4.7%) higher than the 5 year average for this date.
  
November is off to a warm start in our region.  For the first 12 days of the month, Heating Degree Days as measured at Reagan Washington National Airport have been approximately 44% warmer than the 10 year average.  The National Weather Service 6-10 day outlook predicts cooler than normal temperatures for our region, while the 8-14 day outlook predicts a return to warmer than normal temperatures.
 
Prices were mixed this week for gas and power.  At the end of the week, the NYMEX natural gas 12-month strip was up 0.3%, while the PJM West Hub 12-month forward curve was down 3.2%.  
 
 
 
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.