Volume 15, Issue 88 | November 19, 2018

How to Choose an Energy Supplier

Key criteria for evaluating retail energy suppliers

 

Did you know?

Residents and businesses in Washington, D.C., Maryland and Pennsylvania can choose their natural gas and electricity suppliers. Customers in Delaware can choose their electricity supplier, while customers in Virginia can choose who provides their natural gas. Choosing the right supplier for your home or business can help manage costs and offer peace of mind when it comes to reliable, affordable energy. When evaluating retail energy suppliers, there are a few key criteria you should consider.

First, what contract terms does the supplier offer? Does the length of the contract align with your intended time at the residence or business? Make sure to look at contract terms to understand cancellation fees or costs to switch. You may also want to ask the supplier about their renewal policy.

Another criterion to consider is whether the supplier includes clean energy as part of their service offerings. As more consumers are looking to reduce their carbon footprint, this is becoming increasingly important. Some suppliers will source a portion of their energy from clean, renewable resources, in addition to providing alternative energy solutions such as wind and solar.

Last, and perhaps top of mind for consumers considering a switch, compare the price of electricity and natural gas offered by the supplier with what is currently being charged by your local utility. This can be found on the supplier’s website or by giving them a call to inquire about their current rates. Be sure to ask about special pricing for different contracts such as fixed price and sub accounts.

 

Choosing an energy supplier can be easy, stress-free and may even result in significant cost savings.  To get started on selecting WGL Energy as your natural gas or electricity supplier, visit our website or call 1-844-4ASK-WGL.

 


Editor's Note

Volatile Week for Energy Prices

Week in review for November 10 - November 16, 2018

 

On Thursday, the U.S. Energy Information Administration (EIA) reported that working gas in storage as of Friday, November 9, 2018 was 3,247 BCF. This was an increase of 39 BCF from the previous week, and was in line with what the market was expecting. The market has now switched into withdrawal mode, with starting inventories for the withdrawal season substantially lower than the year ago inventory levels (by 528 BCF or 14%) and the five-year average (by 601 BCF or 15.6%).

After an extended period of generally moderate price movement, this past week had some extreme movements. NYMEX natural gas prices for the 1st quarter of 2019 (January through March 2019) rose approximately 7% Monday, 5% Tuesday and 17% Wednesday, but then fell 13% on Thursday. The major price movements were confined to the months of December 2018 through March 2019, with prices from April 2019 and beyond moving only moderately. 

At the end of the week, the PJM West Hub 12-month forward curve was up 5.4%, while the NYMEX natural gas 12-month strip was up 2.3%. 

The uptrend in prices is related to historically low levels of storage and a colder than normal start to the winter.


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*

 


Washington, D.C. Area Cooling Degrees Days* 

 

May - 18

June - 18

July- 18

Aug- 18

Sept - 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 reflect the Washington, D.C. area and 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.