Volume 16, Issue 36 | December 16, 2019

Editor's Note

A down week for gas and power prices

Weekly review for December 7 - December 13, 2019

 

On Thursday, the U.S. Energy Information Administration (EIA) reported that working gas in storage as of Friday, December 6, 2019 was 3,518 BCF.  This was a decrease of 73 BCF from the previous week and was a slightly smaller decrease than what the market was expecting.  Storage levels are 593 BCF (20.3%) higher than a year ago, but 14 BCF (0.4%) lower than the 5 year average for this date.  

After a cooler than normal November in our region, December’s temperatures to date have been very close to normal.  Looking further out, the NOAA 6-10 day temperature outlook is calling for cooler than normal temperatures for our region, while the 8-14 day outlook calls for normal temperatures.

Prices were down this week.  At the end of the week, the NYMEX natural gas 12-month strip was down 1%, while the PJM West Hub 12-month forward curve was down 2.6%.

 

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/Heating Degree Days

 


Washington, D.C. Area Cooling/Heating Degrees Days

 

Jun-19

Jul-19

Aug-19

Sep-19

Oct-19

**Nov-19

 Normal

325 

472

 423

215

38

468

 Actual

341

530

 468

346 

68

568 

 Departure from Normal

 5%

 12%

 11%

 61%

 79%

 21%

 Warmer

Warmer 

Warmer 

Warmer

Warmer

 Colder

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.

**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.