Volume 15, Issue 84 | October 16, 2018

Fixed-Price Energy Supply Plans Provide Peace of Mind

Why some homeowners choose to lock in their energy prices

 

One trend appealing to more and more homeowners is the choice of a fixed-price electricity or natural gas supply plan, which provides peace of mind through a fixed price (per kilowatt-hour for electricity or therm for natural gas) for the length of the contract term.

Unlike traditional utility offers where the rate per unit can vary from month-to-month or quarter-to-quarter, fixed-price plans are attractive because they help homeowners better manage their energy costs, particularly during high demand periods when prices tend to rise. Retail energy suppliers are responding to the growing demand for fixed-price plans by offering a variety of competitively priced offers, which may result in cost-savings for the homeowner.

WGL Energy Services (WGL Energy) offers fixed-priced plans specifically tailored to the needs of residential customers and small businesses, for both electricity and natural gas supply. These plans lock in the energy unit price for a specified term period, usually 12 or 24 months. By focusing on energy consumption, rather than market fluctuations, fixed-price contracts reduce the homeowner's financial exposure to changes in the retail energy market. 

For customers who desire a greater degree of financial certainty and can commit to a contract term, a fixed-price plan may be just the solution. The first step is to check your utility bill to find the average rate you paid last year. For electricity, look for the price per kilowatt hour. For gas, find the price per therm or thousand cubic feet (Ccf) and compare those rates with the prices being offered by retail energy suppliers like WGL Energy.

 

For more information about fixed-price electricity and natural gas plans, call WGL Energy Services (WGL Energy) at 1-844-4ASK-WGL or visit our website at www.wglenergy.com.


Editor's Note

Storage Levels Below 5-Year Minimums

Weekly review for October 7 - 13, 2018


On Thursday, the U.S. Energy Information Administration (EIA) reported that working gas in storage as of Friday, October 5, 2018, was 2,956 BCF. This was an increase of 90 BCF from the previous week, in line with market expectations. Inventories are now 627 BCF lower than last year at this time, 607 below the 5-year average, and remain below the 5-year minimum value (currently 3,232), as they have since July 27, 2018. There is not much time before the beginning of the winter withdrawal season, and typical injections for the rest of the of the month will leave storage level far below those we have seen in recent winters. This could increase upward pressure on prices, in the event of a prolonged or significant cold snap.

 

This week the NYMEX natural gas 12-month strip was up 1.8%, with the PJM West Hub 12-month forward curve basically flat (up just 0.1%).  Despite this week’s increases, natural gas prices through 2020 and beyond remain near all-time lows.

 

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

Find Us at These Upcoming Events

 

EEI - Fall National Key Accounts Workshop
October 21-24, 2018
San Antonio, TX
http://www.eei.org/about/meetings 

Clean Energy Leadership Institute's emPOWER Conference
October 24-25, 2018
Washington, DC
https://www.celiempower.com/registration 

Microgrid 2.0
October 29-31, 2018
Baltimore, MD
http://www.cvent.com/events/microgrid-2-0/event-summary 

Solar Focus 2018
October 29-31, 2018
Washington, DC
http://www.solarfocusconference.org/about/ 

 

For more information about upcoming events, visit our events page.


Weather

Local Cooling Degree Days*

 


Cooling Degrees Days* 

 

May - 18

June - 18

July- 18

Aug- 18

Sept - 18

Oct - 18

 Actual

231.5 

336.5 

 484.5

 496.5

315.5 

 

 Normal

115.9

324.0 

 471.6

423.4 

214.6 

 

 Departure from Normal

 99.7%

4% 

           3%

17% 

 47%

 

 Warmer

 Warmer

Warmer 

 Warmer

 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.