Volume 17, Issue 7 | March 9, 2020

Editor's Note

Ups and Downs

Weekly review for March 1 - March 7, 2020

 
On Thursday, the U.S. Energy Information Administration (EIA) reported that working gas in storage as of Friday Feb 28, 2020 was 2,091 BCF. This was a decrease of 109 BCF from the previous week. Inventories are now 680 BCF higher than last year at this time, 176 BCF above the 5-year average.
 
Like for the stock market, it was a volatile week for gas, but we ended up pretty much where we began with the NYMEX natural gas 12-month curve was up just 0.2%.  For the week, PJM Western Hub 12 Month curve (Apr20-Mar21) was down 1.5%. However both power and gas remain near 5-year lows for all forward terms.
 
 
 
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

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

  

 

Aug-19 

Sep-19 

Oct-19 

**Nov-19 

**Dec-19 

**Jan-20 

Normal 

 423

 215

38 

 460

690 

886 

 Actual

 468

 346

68

 568

709

701

Departure from Normal 

11%, Warmer 

61%, Warmer 

79%, Warmer 

23%, Colder 

3%, Colder 

21%, 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.

**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.