Volume 18, Issue 7 | March 22, 2021

Editor's Note

Warmer Weather Prevails

Week in Review for March 14 - March 20, 2021

 
On Friday, the U.S. Energy Information Administration (EIA) reported that working gas in storage as of Friday, March 12, 2021 was 1,782 Bcf.  This is a decrease of 11 Bcf from the previous week. Inventories are currently 253 Bcf lower than last year during this same period and 93 Bcf below the 5-year average of 1,875 Bcf.  
 
The forecast calls for above normal temperatures this week, which should keep prices rangebound at least for the near term.
 
Markets moved lower this week as the 12-month NYMEX gas curve dropped 6.3% and the 12-month PJM Western Hub decreased 1.7%. 
 
 
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-20 

Oct-20 

**Nov-20 

**Dec-20 

**Jan-21 

**Feb-21 

Normal 

 260

 56

467

 669

848

677

 Actual

 187

 32

321

 731

819

763

Departure from Normal 

28%,
Colder 

43%,
Colder 

31%,
Warmer 

9%,
Colder 

3%,
Warmer 

13%,
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.