Volume 17, Issue 20 | June 22, 2020

Editor's Note

Possible Highest Peak Load Coming

Weekly review for June 14 - June 20, 2020

 
On Friday, the U.S. Energy Information Administration (EIA) reported that working gas in storage as of Friday, June 12, 2020 was 2,892 Bcf.  This is an increase of 85 Bcf from the previous week. Inventories are currently 722 Bcf higher than last year during this same period and 419 Bcf above the 5-year average of 2,473 Bcf.  
 
Normal to slightly above normal temperatures will prevail this week and CDD’s will tick higher.  There is a possibility that on June 22nd or June 23rd an hour between 3 p.m. and 7 p.m. will end up as one of the five highest PJM peak loads of the year.  Customers wanting to ensure they catch all five peaks should consider reducing electricity consumption on these days and times.
 
Markets were lower this week as the 12-month Nymex gas curve moved down 4.2% and the 12-month PJM Western Hub decreased 0.67%. 
 
 
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

  

 

**Dec-19 

**Jan-20 

**Feb-20 

**Mar-20 

**Apr-20 

May-20 

Normal 

 690

 863

717 

 546

236

126

 Actual

 709

 709

614

 372

296

94

Departure from Normal 

3%, Colder 

19%, Warmer 

14%, Warmer 

32%, Warmer 

25%, Colder 

125%, 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.