Volume 18, Issue 10 | June 27, 2022

Editor's Note

Prices Finally Retreat

Week in review for June 19-25, 2022

Thursday, the U.S. Energy Information Administration (EIA) reported that working gas in storage as of Friday June 17, 2022, was 2,169 Bcf. This was an increase of 74 Bcf from the previous week, a higher injection than expected, contributing to a decrease in the front end of the curve Thursday. Inventories are still very low, currently 305 Bcf lower than last year at this same time, and 331 Bcf below the 5-year average.  

Even before the bearish storage report, markets were down sharply amid increasing recession fears and news that Freeport LNG export facility, representing 17% of U.S. export capacity, would likely not be back to fully operational until late 2022. The prompt 12-month NYMEX natural gas strip (Jul22-Jun23) was down 14.2% for the week, now off 28.5% from its peak. The 12-month PJM STD 7x24 strip was down 18% for the week, 29% below its peak.


Energy Market Charts

 

 

 


Feature

Summer Tips to Manage Your Carbon Footprint

Summer is the season full of traveling, adventure, and fun in the sun!  What better time to balance your carbon footprint than now.  A carbon footprint is the amount of carbon dioxide (CO2) emissions associated with all the activities of a person or other entity. Managing your carbon footprint improves public health, boosts the global economy, and combats climate change. This week we have provided you with some tips that you can use to manage your carbon footprint during these warmer months.

  • Consider fuel efficient cars for traveling.* Fuel efficient cars have an ‘eco-mode’ feature that you can use to help reduce the time that your car is idling or carrying around unnecessary weight. This can aid in the reduction of carbon emissions.
  • Shop local for produce.* Purchasing your favorite fruits and veggies from farmer markets, produces less waste and supports local businesses. Eating locally ensures that your food has not traveled thousands of miles using fossil fuels that produce large amounts of greenhouse gasses.
  • Consider green solutions, like CleanSteps®. CleanSteps gives you the option to green your lifestyle your way, from dining out to using the internet. You can visit www.cleansteps.com to discover the best solution for you.

To learn more about how you can with manage your carbon footprint with WGL Energy visit wglenergy.com/gogreen or call (888) 422-4001 to receive more information about our greening partnerships.

*Source: https://asweatlife.com/2021/07/12-simple-ways-to-reduce-your-carbon-footprint-this-summer/


Weather

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

  

 

Dec-21

Jan-22

Feb-22

Mar-22

April-22

May-22

Normal 

669

848

677

529

236

63

 Actual

541

943

626

455

249

59

Departure from Normal 

19%
Warmer

11%
Cooler

8%
Warmer

14%
Warmer

6%
Cooler

7%
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.