Volume 16, Issue 26 | August 19, 2019

Editor's Note

PJM Region Heat Wave

Weekly review for August 10 - 16, 2019

 

On Thursday, the U.S. Energy Information Administration (EIA) reported that working gas in storage as of Friday, August 9, 2019 was 2,738 Bcf.  This was an increase of 49 Bcf from the previous week, lower than market expectations. Inventories are currently 357 Bcf higher than last year at this time and 111 Bcf below the 5-year average.  

The PJM region is likely to experience another heat wave early this week as temperatures are forecasted to reach into the low to mid 90s in the Mid-Atlantic and the Midwest. PJM has posted Hot Weather Alerts for Sunday, August 18th and Monday, August 19th. WGL Energy issued a “PJM Peak Alert” for Monday afternoon. There is a possibility that an hour between 2 pm and 6 pm on Monday will end up as one of the five highest PJM peak loads of the summer. Customers may want to consider reducing their electricity consumption on Monday in an effort to impact future electricity costs.

Overall, the PJM West Hub 12 Month curve increased 0.7% this week while the NYMEX natural gas 12-month curve increased 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. 



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Weather

Local Cooling Degree Days*

 


Washington, D.C. Area Cooling Degrees Days* 

 

May - 19

Jun - 19

Jul - 19

Aug - 19

Sep - 19

 Oct - 19

 Actual

216 

341

 530

 

 

 Normal

121

330

 472

 

 Departure from Normal

 78%

 3%

 12%

 

 Warmer

Warmer 

Warmer 

 

*Cooling degree day (CDD) 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 below 65, there are no cooling degree days that day. If the day’s average temperature is greater than 65 degrees, then subtract 65 from the average temperature to find the number of cooling degree days.