Volume 18, Issue 9 | April 5, 2021

Editor's Note

Prices Up as Injection Season Begins

Week in Review for March 27 - April 2, 2021

 
On Thursday, the U.S. Energy Information Administration (EIA) reported that working gas in storage as of Friday, March 26, 2021 was 1,764 BCF.  This was an increase of 14 BCF from the previous week and was a smaller injection than the market was expecting.  Storage levels are 225 BCF (11.3%) lower than a year ago, and 36 BCF (2%) lower than the 5 year average for this date.  
 
March was a warmer than normal month in our region.  For the month, Heating Degree Days as measured at Reagan Washington National Airport were approximately 19.6% lower than the 10 year average.  After some colder than normal temperatures to begin April, the 6-10 day outlook from the National Weather Service predicts a return to warmer than normal temperatures for the East Coast.
 
Prices were up this week for gas and power.  At the end of the week, the NYMEX natural gas 12-month strip was up 1%, while the PJM West Hub 12-month forward curve was up 0.1%.

 
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

  

 

Oct-20 

**Nov-20 

**Dec-20 

**Jan-20 

**Feb-21 

**Mar-21 

Normal 

 56

 467

669

 848

677

546

 Actual

 32

 321

731

 819

763

516

Departure from Normal 

43%,
Colder 

31%,
Warmer 

9%,
Colder 

3%,
Warmer 

13%,
Colder 

5%,
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.