Volume 15, Issue 67 | June 4, 2018

Energy Answers for Local Businesses

Achieve your profitability and sustainability goals with off-site solar solutions

 

WGL Energy (WGL Energy Services and WGL Energy Systems) solar solutions provide environmentally-responsible, cost-effective options for commercial, industrial and government customers who are committed to stabilizing their energy costs, reducing their carbon footprint and promoting sustainability.

Our off-site projects – which include new solar and existing wind developments – are ideal for customers that lack the physical space or in-house resources for an on-site solution. Our Distributed Impact™ approach to energy management provides a comprehensive solution that integrates diverse energy resources designed to maximize your profitability and enhance your sustainability goals, while providing you with access to clean, affordable, and resilient energy solutions.

 

 

For example, in 2017 we structured a 10.8 megawatt ground-mounted off-site solar supply solution in Frederick County, Maryland to benefit multiple customers. The project provides power to Washington, D.C.’s Capital One Arena, which is owned by Monumental Sports & Entertainment; the National Geographic Society; as well as the 28 Walker Development in Baltimore, Maryland – all three of which are located in congested, downtown urban areas.

Constructed and operated by Cypress Creek Renewables, the solar farm will supply 25 percent of the power needs of the Capital One facility matched with national solar renewable energy credits, which alone will consume about 4.7 million kWh per year of output from the solar installation.

WGL has served as the official energy and greening partner of Capital One Arena since 2015, donating carbon offsets to counterbalance emissions from Washington Wizards, Washington Capitals and Washington Mystics home games, concerts and other events. Last year, more than 3,123 tons of greenhouse gas emissions from 201 events at the arena were counterbalanced with carbon offsets. This is equivalent to avoiding the consumption of over 351,000 gallons of gasoline, or taking 660 cars off the road for one year.

For more information on our Distributed Impact™ approach to energy management, check out the WGL 2017 Corporate Performance Report.


Editor's Note

Prices Unchanged

Weekly review for May 26 - June 1, 2018

 

On Thursday, the U.S. Energy Information Administration (EIA) reported that working gas in storage as of Friday, May 25, 2018 was 1,725 BCF. This was an increase of 96 BCF from the previous week, and was less than what the market was expecting. Inventories are still substantially lower than the year ago levels (by 31.4%) and the five-year average (by 22.5%).  

After a much colder than normal April, weather in our region for the month of May was much warmer than normal.  Cooling Degree Days at Washington Reagan National Airport were 99.7% higher than the 30-year average. More warmer than normal weather appears to be coming, with the National Weather Service 8-14 day temperature outlook showing a higher probability of warmer than normal temperatures for our region.

Prices were mixed this week, and ultimately close to unchanged. The PJM West Hub 12-month forward curve rose 0.2% this week, while the NYMEX natural gas 12-month strip was down 0.5%.

Stay tuned as we navigate the summer injection season.

 

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.


Weather

Local Cooling Degree Days*

 


Cooling Degrees Days* 

 

May - 18

June - 18

July- 18

Aug- 18

Sept - 18

Oct - 18

 Actual

231.5 

 

 

 

 

 

 Normal

115.9

 

 

 

 

 

 Departure from Normal

 99.7%

 

           

 

 

 

 Warmer

 

 

 

 

 

*Cooling degree days are calculated by comparing the day’s average temperature to a 65 degree baseline.  If the day’s average temperature is below 65, there are no cooling degree days that day.  If the average temperature is greater than 65 degrees, then subtract 65 from the average temperature to find the number of cooling degree days.