Volume 16, Issue 6 | February 11, 2019

WGL Energy Case Study: Capital One Arena

Choosing the right energy solutions can have a positive impact on homes and businesses alike

 

No two buildings have the same energy needs. Choosing the right energy solutions can positively impact homes and businesses alike. To meet the needs of every customer, WGL Energy Services (WGL Energy) offers customized energy solutions tailored to your needs and your budget. We provide scalable energy solutions for small to large businesses around the country. Our energy experts develop strategies across the energy spectrum.

Don’t just take our word for it. Watch the video to see how we've worked with Capital One Arena in downtown Washington, D.C. to combine carbon offsets, solar power, distributed generation and energy efficiency to solve their energy challenges.


About Us
We’re a leader in efficient and environmentally-friendly energy technology solutions to residential, government, commercial and industrial customers. We deliver a full spectrum of energy solutions, including electricity, natural gas, renewable energy, carbon reduction, distributed generation and energy efficiency. Whether you’re a family of four, a large government agency or a Fortune 1000 company, our energy experts provide customized solutions that are easy to understand, making it simple to select the right services to meet your sustainability goals.

To learn more about the latest renewable energy solutions or help meeting your sustainability goals, visit wglenergy.com or call 1-844-4ASK-WGL to speak with one of our energy experts.

 


Editor's Note

A Break from Winter Cold Brings Lower Prices

Weekly review for February 2-8, 2019

 

Although this winter has seen much in the way of ups and downs in temperatures, weather for the 3 months of November through January in our region (as measured by heating degree days at Washington Reagan National Airport) in total was almost exactly equal to the past 30-year average. However, February is off to a mild start. The first 7 days of February have been 17% warmer than the 30-year average. These warmer temperatures have allowed for a moderation in prices as the market seems comfortable that storage levels will be adequate to finish up the winter heating season.

On Thursday, the U.S. Energy Information Administration (EIA) reported that working gas in storage as of Friday, February 1, 2019 was 1,960 BCF. This was a decrease of 237 BCF from the previous week and was a smaller withdrawal than what the market was expecting. This 237 BCF withdrawal was the largest withdrawal from storage in more than a year. Storage levels remain at relatively low levels – 135 BCF (6.4%) lower than a year ago, and 415 BCF (17.5%) lower than the 5-year average for this date.

As mentioned above, prices were down this week. At the end of the week, the PJM West Hub 12-month forward curve was down 1.4%, while the NYMEX natural gas 12-month strip was down 3.2%.

Our offices will be closed on Monday, February 18 in observance of the President's Day holiday and Energy Update will not be published that day. Please look for the next issue on Monday, February 25, 2019.


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.


Energy Management

Beyond the Commodity

Developing a comprehensive energy strategy can help turn energy into an asset

 

With today’s changing energy markets and business needs, it’s important for organizations to consider factors other than price when procuring energy. Developing a comprehensive strategy can help turn energy into an asset -- differentiating a brand, supporting energy resiliency and providing increased budget certainty.

Unpredictable events such as the polar vortex and economic shifts cause energy markets to sway. The Marcellus Shale Natural Gas Extraction put downward pressure on the market and changed the entire supply/demand balance. These realities, along with broader business trends, can create opportunities for organizations if they align their energy strategy with their business strategy.

Thinking beyond the commodity means taking a far more disciplined, comprehensive and ongoing approach to energy planning – one that takes into account risk factors, broader trends and both short and long-term goals.

Download our whitepaper to explore events over the past decade that have affected the energy markets, and learn primary steps to take when embarking on a comprehensive energy strategy.


Weather

Local Heating Degree Days*

 


Washington, D.C. Area Heating Degrees Days* 

 

Oct - 18

Nov - 18

Dec - 18

Jan- 18

Feb - 18

 Mar - 19

 Actual

195.5 

555.5 

 671.5

864

 

 Normal

196

465 

 758

864

 

 Departure from Normal

 0%

19% 

         -11%

0

 

 Neutral

 Colder

Warmer 

Normal

 

*Heating degree day (HDD) data is for the Washington, D.C. area and is 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, then subtract that average temperature from 65 to find the number of heating degree days.