Volume 15, Issue 57 | March 25, 2018

We're Growing Our Portfolio of Alternative Energy Investments

Forging a national legacy with our portfolio of alternative energy investments

 

We have built our alternative energy portfolio on a consistent and growing commitment. Each year, our accumulating investment generates an increasing level of revenue. As we have gained experience in alternative energy, our annual investment has grown, reaching an annual rate of $100 million or more over the past four years.

WGL now has alternative energy projects across the United States, representing a total investment of almost $700 million.

We’ve also become more sophisticated, growing toward a distributed generation model that involves large multiple-solution projects that employ natural gas, solar, remotely generated wind and other solutions. One of those massive projects is our partnership with the University of Maryland (UMD), where we’re providing for the university’s more diverse energy needs, including electricity and alternative energy sources.

Located in College Park, Maryland, UMD first embraced solar energy as an alternative source of power when it partnered with WGL in 2011 to install solar panels on its Severn Building. Since then, the university has developed an ambitious plan to ensure that by 2020, 100 percent of its purchased power comes from renewable sources.

UMD is well on its way toward that goal, most recently engaging with WGL in a purchased power agreement to fund the installation of solar canopies on top of three UMD parking garages, adding nearly 2.2 megawatts of generating capacity, meeting 80 percent of the university’s goal of 2.7 megawatts of solar power for university facilities by 2018.

When added to the power generated from solar installations on its Severn Building and the Institute for Bioscience and Biotechnology Research, the new project brings UMD’s total capacity to more than 3,000 megawatt hours generated by solar power, the equivalent emissions reduction of not burning nearly 5,200 barrels of oil – that’s more than 250,000 gallons of gasoline.  

For more information on our portfolio of alternative energy investments and how we’re forging a national legacy, check out the WGL 2017 Corporate Performance Report.


Editor's Note

Colder Temps Forecasted

Weekly review for March 18 - 24, 2018

 

On Thursday, the U.S. Energy Information Administration (EIA) reported that working gas in storage as of Friday, March 16, 2018 was 1,446 BCF. This is a decrease of 86 BCF from the previous week. Inventories are currently 667 BCF lower than last year during this same period and 329 BCF below the 5-year average of 1,775 BCF. 

The 15-day weather trend is forecasted to be at or below historical norms for this time of year. Despite these colder temperatures, as we move into the shoulder months, prices should moderate in the near term.

Forward markets were mixed this week as the PJM West Hub 12 Month curve increased ever so slightly at 0.1% and the NYMEX natural gas 12-month curve fell 1.7%.     

 

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.


Upcoming Events

Energy Answers. Ask Us.

Be sure to connect with us during these upcoming events

 

The Edison Electrical Institute (EEI) Spring National Key Accounts Workshop
March 25-28, 2018

EEI’s semi-annual National Key Account Workshop is the venue where national, chain and multi-site energy users can tackle all of their energy-related needs. Representatives of the WGL Energy Services and Systems, Inc. (WGL Energy) team will attend EEI in Orlando, Florida. Our experts will be available to assist business customers with the development of their energy management strategies in booth 704.

 

21st Annual Energy Restructuring Conference (National Energy Marketers Association)
April 30-May 2, 2018

Join us at the Hyatt Regency Capitol Hill in Washington, D.C. for "A New Era in Consumer Choice, Innovation and Opportunities.”

 

For more events, visit wglenergy.com


Weather

Local Heating Degree Days*

 

 

 


Heating Degrees Day** 

 

Nov - 17

Dec - 17

Jan - 18

Feb - 18

Mar - 18

Apr - 18

 Actual

456

792

900

549

 Normal

466

786

899

728

 Departure from Normal

2%

.7%

.1%

24%

 Warmer

Colder

Colder

Warmer

**Heating degree days are calculated by comparing the day’s average temperature to a 65 degree baseline. If the day’s average temperature is above 65, there are no heating degree days that day. If the day's average temperature is less than 65 degrees, subtract the average temperature from 65 to find the number of heating degree days for that day.