Volume 17, Issue 11 | April 6, 2020

AltaGas Commits $1 Million In Emergency Assistance

To assist communities during COVID-19 pandemic

 
AltaGas, the parent company of WGL Energy, has announced its commitment of $1 million in emergency assistance to support our communities during the COVID-19 pandemic.

The assistance funds will be distributed to partner organizations on the frontlines supporting local communities and providing critical support to our health care workers addressing the health crisis.
 
CEO MESSAGE
 
"As a company with over 2,800 employees across North America, we have responded to numerous crises over the years, and we take great pride in the essential role that we play in the lives of our customers, neighbors and our communities, where many of our employees reside. This unprecedented health crisis is having an immediate and significant impact on many people in the communities we serve. We are committed to doing everything we can to support the communities and those on the frontlines during this unsettled and difficult time," said Randy Crawford, President and Chief Executive Officer.
 
"We will be there for our communities throughout this crisis because we are all in this together. When it ultimately ends, we will all move forward together and be stronger than ever."
 
View the full press release.
 


Editor's Note

Closing Out a Warm Winter

Weekly review for March 28 - April 3, 2020

 
On Thursday, the U.S. Energy Information Administration (EIA) reported that working gas in storage as of Friday, March 27, 2020 was 1,986 BCF.  This was a decrease of 19 BCF from the previous week and was a smaller withdrawal than what the market was expecting.  Storage levels are 863 BCF (76.8%) higher than a year ago, and 292 BCF (17.2%) higher than the 5 year average for this date.  
 
Continuing the pattern from the rest of this winter, March temperatures in our region were much warmer than the 30 year average.  For the month, temperatures as measured at Washington Reagan National Airport were approximately 33% warmer than the 30 year average.  This pattern looks to continue, with the 6-10 day outlook from the National Weather Service predicting warmer than normal temperatures for the Mid-Atlantic region.
 
Prices were down slightly this week.  At the end of the week, the NYMEX natural gas 12-month strip was down 0.9%, while the PJM West Hub 12-month forward curve was down 0.04%.
 
 
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

  

 

Sep-19 

Oct-19 

**Nov-19 

**Dec-19 

**Jan-20 

**Feb-20 

Normal 

 215

 38

460 

 690

886 

717

 Actual

 346

 68

568

 709

701

614

Departure from Normal 

61%, Warmer 

79%, Warmer 

23%, Colder 

3%, Colder 

21%, Warmer 

14%, 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.