Volume 17, Issue 42 | December 21, 2020

Happy New Year from WGL Energy

Wishing you a safe and prosperous New Year!

 


 
This is the last issue of Energy Update for this year. We want to thank all of you – our customers, our channel partners and members of our business development community – for choosing WGL Energy (WGL Energy Services).
 
We’re looking forward to serving you in 2021 when we resume our updates on current market conditions, energy diversification, energy choice and more on January 11th – here in our weekly newsletter and on our website.
 
As a reminder, in observance of Christmas and New Year's day, WGL Energy offices will be closed on Friday, December 25th, 2020 and Friday, January 1st, 2021.
 
We wish you a healthy, happy and prosperous New Year!
 
The Editorial Staff of Energy Update


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With PowerLock, you get a fixed monthly subscription price, plus 100% renewable energy starting as low as $19.99/mo. Log in today to obtain your customized price, then pay that same fixed price every month for your electricity supply, regardless of weather or usage. 
 
The subscription price is based upon your historical electricity usage and has no cancellation or early termination fees. It includes 100% renewable energy which helps improve air quality and preserve the environment. This offer does NOT include electric distribution charges or repairs which are billed by your electric utility as part of your total electricity bill.  You can visit our PowerLock site or call us at 1-855-PowerLk to see if you qualify.


Editor's Note

Warmer Than Average

Weekly review for December 13 - December 19, 2020

 
On Friday, the U.S. Energy Information Administration (EIA) reported that working gas in storage as of Friday, December 11, 2020 was 3,726 Bcf.  This is a decrease of 122 Bcf from the previous week. Inventories are currently 284 Bcf higher than last year during this same period and 243 Bcf above the 5-year average of 3,483 Bcf.
  
The forecast calls for above normal temperatures this week.  Despite the cold-blast that ushered in the winter storm that blanketed the PJM footprint last week, temperatures will continue to be on the warmer-than-normal side of things through the end of the month and continue to be bearish for prices.
 
Markets moved higher this week as the 12-month NYMEX gas curve gained 2.1% and the 12-month PJM Western Hub increased 4.1%. 
 
 
 
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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

  

 

Jun-20 

Jul-20 

Aug-20 

Sep-20 

Oct-20 

Nov-20 

Normal 

 356

 527

450

 260

56

467

 Actual

 360

 586

453

 187

32

321

Departure from Normal 

1%, Warmer 

11%,    Warmer 

1%, Warmer 

28%, Colder 

43%, Colder 

31%, 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.