Volume 16, Issue 30 | September 30, 2019

Editor's Note

Wrapping up the injection season

Weekly review for September 21 - 27, 2019

 

On Thursday, the U.S. Energy Information Administration (EIA) reported that working gas in storage as of Friday, September 20th, 2019 was 3,205 BCF. This was an increase of 102 BCF from the previous week and was higher than what the market was expecting. Storage levels are 444 BCF (16.1%) higher than a year ago, but 47 BCF (1.4%) lower than the 5 year average for this date.

After a warmer than normal May, June, July and August in our region, September has continued this pattern. Cooling degree days at Washington Reagan National Airport have been 46.6% higher than the 30 year average for the first 26 days of September.  

Prices were mixed this week. At the end of the week, the NYMEX natural gas 12-month strip was down 2.7%, while the PJM West Hub 12-month forward curve was up 0.8%.  

 

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

466 

 

 Normal

121

330

 472

423 

 Departure from Normal

 78%

 3%

 12%

 10%

 Warmer

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.