Volume 18, Issue 10 | February 21, 2022

Achieving Sustainability with WGL Energy

As a leader in the ever-evolving energy market, WGL Energy has made its mission to offer its customers solutions to meet their sustainability goals. WGL Energy helps your company create a balanced sustainability plan that takes into account your budget and business priorities. The variety of offerings range from simple and affordable steps to extensive plans, and all are dedicated to reducing your energy spend while also making your business more sustainable.

WGL Energy’s immediate, affordable solutions allow you to start your sustainability efforts of reducing your carbon footprint with ease.

  • Renewable Energy Credits (RECs): Purchase RECs sourced from wind farms and matched to your electricity supply.
  • Carbon Offsets: Counterbalance the environmental impact of your natural gas usage and other business activities.

To learn more about how you can achieve your company’s sustainability goals with WGL Energy, visit https://promo.wglenergy.com/gogreen/ or call 1-833-61-GREEN (1-833-614-7336) to speak with one of our energy experts.


Editor's Note

Prices Continue to Bounce

Week in review for February 13-19, 2022

Thursday, the U.S. Energy Information Administration (EIA) reported that working gas in storage as of Friday February 11, 2022, was 1,911 Bcf. This was a decrease of 190 Bcf from the previous week, a bit lower than market expectations. Inventories are now 404 Bcf lower than the same time last year, and 251 Bcf below the 5-year average, close to the 5-year minimum.

Forward energy markets resumed their upward climb this week, with large increases on Monday and Wednesday as the market absorbed some colder forecasts for the end of February and beginning of March. Despite being past the bulk of the winter, recent markets have been very volatile with three double digit percentage changes in a row for the 12-month NYMEX natural gas strip (Mar22-Feb23): up 11.4% for the week ending 2/3/2022, down 14.8% for the week ending 2/10/2022, and this week up 11.0% for the week ending 2/17/2022. As usual electricity moved in a similar pattern to gas, with the 12-month PJM STD 7x24 contract strip up 6.8% this week.


Weather

Washington, D.C. Area Cooling/Heating Degree Days

  

 

Aug-21

Sep-21

Oct-21

Nov-21

Dec-21

Jan-22

Normal 

445

255

55

467

669

848

 Actual

492

241

92

513

541

943

Departure from Normal 

6%
Cooler

11%
Warmer

6%
Cooler

10%
Cooler

19%
Warmer

11%
Cooler

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.