DOE EIA Weekly Gas Storage Report
Working gas in storage was 3,475 Bcf as of Friday, January 8, 2016, according to EIA estimates. This represents a net decline of 168 Bcf from the previous week. Stocks were 587 Bcf higher than last year at this time and 474 Bcf above the five-year average of 3,001 Bcf. At 3,475 Bcf, total working gas is above the five-year historical range.
Estimated Withdrawal 176 Bcf and 180 Bcf
Vs
Actual withdrawal 168 Bcf
A consensus of analysts surveyed by Platts expects the US Energy Information Administration on Thursday will estimate a natural gas storage withdrawal of between 176 Bcf and 180 Bcf for the reporting week that ended January 8. A withdrawal within expectations would be less than the 220 Bcf reported at this time in 2015 but directly in line with the 178 Bcf fiveyear average. The wider range of analysts’ expectations for this week was for a withdrawal of 154 Bcf to 192 Bcf. This looks to be the largest drawdown of the heating season, but it still would be 42 Bcf less than the withdrawal at this time last year.
Oil is on the decline to a 12 year low says researchers
CitiGroup Research said that oil could go down to 20 dollars a barrel
North American is losing about 2 Billion dollars a week in Oil and Gas Production
Realgy Energy Services is a registered Retail Energy Marketer in the states of Illinois, Michigan and Indiana. We offer Service Plans that will provide electric and natural gas at wholesale pricing direct to customers without any utility markup. Our Service Plans work with the local utility to provide seamless service and annual energy savings. Service Plans include Guaranteed SavingsTM, ManagedPriceTM, ManagedGreenTM and Index, Fixed pricing.
Additional Information: http://www.msn.com/en-us/money/markets/dollar20-oil-no-longer-mirage-as-world-confronts-12-year-low/ar-CCrU6z?li=BBnbfcL
Quakes in Ok.. cause injections from oil and gas
Oklahoma hit with 70 quakes with a week
- Experts say that the earth quakes swarm in Oklahoma are due to fracking and are caused by the oil and the gas industry
- The injected water changes the friction of naturally occurring fault lines, uncorking the quakes.
- Oklahoma in 2014 had at least 5,415 earthquakes; 585 of them were magnitude-3 or greater. In comparison, the state had just 109 magnitude-3 quakes in 2013, according to the Oklahoma Geologic Survey.
- State regulators have ordered well companies operating in the area to either scale back or halt injection operations
Interesting news article today…. http://www.msn.com/en-us/news/us/oklahoma-hit-with-70-quakes-in-a-week/ar-AAguX1B?li=BBnb7Kz
Realgy Energy Services is a registered Retail Energy Marketer in the states of Illinois, Michigan and Indiana. We offer Service Plans that will provide electric and natural gas at wholesale pricing direct to customers without any utility markup. Our Service Plans work with the local utility to provide seamless service and annual energy savings. Service Plans include Guaranteed SavingsTM, ManagedPriceTM, ManagedGreenTM and Index, Fixed pricing.
DOE EIA Weekly Gas Storage Report
Working gas in storage was 3,756 Bcf as of Friday, December 25, 2015, according to EIA estimates. This represents a net decline of 58 Bcf from the previous week. Stocks were 532 Bcf higher than last year at this time and 448 Bcf above the five-year average of 3,308 Bcf. At 3,756 Bcf, total working gas is above the five-year historical range.
Estimated Storage withdrawal of 53 Bcf – 57 Bcf
Versus
Actual 58 Bcf
The US Energy Information Administration is expected to estimate a natural gas storage withdrawal of between 53 Bcf and 57 Bcf for the reporting week that ended December 25, according to a consensus of analysts surveyed by Platts. EIA plans to announce its storage report at 10:30 am EDT Thursday. A withdrawal within expectations would be well above the 26-Bcf withdrawal reported at this time in 2014 but well below the 95-Bcf fiveyear average withdrawal. The wider range of analysts’ expectations for this week was for a withdrawal of 39 Bcf to 71 Bcf. Last week, EIA reported a 32 Bcf withdrawal, which lowered inventories to 3.846 Tcf, which was 561 Bcf, or about 17%, above the year-ago inventory of 3.253 Tcf, and 411 Bcf, or about 12%, more than the five-year average of 3.403 Tcf. “Regionally, the largest withdrawals are expected from the East and Midwest regions, each of which saw average temperatures drop 7 degrees compared to the previous week to 51 and 40 degrees F respectively,” according to the Weekly Storage Report published by Platts unit Bentek Energy
DOE EIA Weekly Gas Storage Report
Working gas in storage was 3,814 Bcf as of Friday, December 18, 2015, according to EIA estimates. This represents a net decline of 32 Bcf from the previous week. Stocks were 561 Bcf higher than last year at this time and 411 Bcf above the five-year average of 3,403 Bcf. At 3,814 Bcf, total working gas is above the five-year historical range.
EIA to estimate 22-Bcf storage withdrawal
Vs
Actual was 32 Bcf
A consensus of analysts surveyed by Platts expects the US Energy Information Administration on Thursday will estimate a natural gas storage withdrawal of between 20 Bcf and 24 Bcf for the reporting week that ended December 18. EIA plans to announce its storage report at 10:30 a.m. EST Thursday. Above-normal temperatures blanketing the eastern half of the US this December prompted most analysts to call for a drawdown of almost 100 Bcf below the five-year average for this week. Withdrawal within expectations would be less than the 52 Bcf withdrawal reported at this time in 2014 and substantially less than the 121 Bcf five-year average withdrawal, according to EIA data. The wider range of analysts’ expectations call for a withdrawal of 15 Bcf to 30 Bcf. Last week, EIA reported a 34-Bcf withdrawal that decreased inventories to 3.846 Tcf, which was 541 Bcf, or 16.4%, more than the year-ago inventory of 3.305 Tcf, but 322 Bcf, or 9.1%, more than the five-year average of 3.524 Tcf
DOE EIA Weekly Gas Storage Report
Here is this weeks EIA natural gas storage report. Working gas in storage was 3,880 Bcf as of Friday, December 4, 2015, according to EIA estimates. This represents a net decline of 76 Bcf from the previous week. Stocks were 514 Bcf higher than last year at this time and 236 Bcf above the five-year average of 3,644 Bcf. At 3,880 Bcf, total working gas is above the five-year historical range.
US EIA to estimate 61-Bcf withdrawal:
vs
Actual 76 Bcf
A consensus of analysts surveyed by Platts expects the US Energy Information Administration on Thursday will estimate a natural gas storage withdrawal of between 59 Bcf and 63 Bcf for the reporting week that ended December 4. The EIA plans to announce its storage report at 10:30 a.m. EST Thursday. Withdrawal within expectations would be more than the 47-Bcf withdrawal reported at this time in 2014 and less than the 65-Bcf five year average withdrawal, according to EIA data. The wider range of analysts’ expectations for this week was for a withdrawal ranging from 48 Bcf to 67 Bcf. Last week, the EIA reported a 53-Bcf withdrawal that decreased inventories to 3.956 Tcf, which was 543 Bcf, or 15.9%, more than the year-ago inventory of 3.413 Tcf, but 247 Bcf, or 6.7%, more than the five-year average of 3.709 Tcf.
MI Consumers Energy Electric prices are increasing
Consumers Energy, the regulated utility monopoly, has received permission from the MI Public Service Commission (MPSC) to raise prices.
Consumers Energy, as a regulated monopoly, must show that its costs have increased thereby justifying a cost increase. The MPSC acts to ensure that utilities, which operate as a monopoly, have oversight over their expenditures. The MPSC must certify that expenditures are used to actually provide or improve service to customers. Once approved by the MPSC, the utility will collect the increase on your next bill.
Realgy Energy Services is a registered Retail Energy Marketer in the states of Illinois, Michigan and Indiana. We offer Service Plans that will provide electric and natural gas at wholesale pricing direct to customers without any utility markup. Our Service Plans work with the local utility to provide seamless service and annual energy savings. Service Plans include Guaranteed SavingsTM, ManagedPriceTM, ManagedGreenTM and Index, Fixed pricing.
Additional information:
http://detroit.cbslocal.com/2015/11/19/consumers-energy-electric-customers-to-see-rate-increase/
DOE Eia Weekly Gas Storage Report
Working gas in storage was 4,000 Bcf as of Friday, November 13, 2015, according to EIA estimates. This represents a net increase of 15 Bcf from the previous week. Stocks were 404 Bcf higher than last year at this time and 207 Bcf above the five-year average of 3,793 Bcf. At 4,000 Bcf, total working gas is above the five-year historical range.
Survey predicts storage to hit historic 4 Tcf level
- EIA storage estimate gets an overhaul
- 4-plus Tcf becomes the new normal
Actual 15 Bcf.
The U.S. Energy Information Administration on Thursday is expected to report a natural gas storage injection between 17 and 21 Bcf for the week that ended November 13, according to a Platts’ survey of analysts. If the injection comes in as expected, storage levels will crack the 4-Tcf level, an all-time record. An injection within expectations would be more than the 9-Bcf withdrawal reported at this time last year and more than the 12-Bcf five-year average withdrawal, according to EIA data. Last week, the EIA reported a 54-Bcf injection that increased inventories to 3.985 Tcf, which was 379 Bcf, or 10%, more than the year-ago inventory of 3.606 Tcf, and 180 Bcf, or 4.7%, more than the five-year average of 3.805 Tcf.
New Methodology for Storage in the US
Here is an interesting article concerning how the EIA reports on storage activity within the US.
- EIA will use five regions: East, Midwest, South Central, Mountain and Pacific
- changes were prompted, at least in part, by user request “A lot of our customers had been asking to see the storage data at a greater granularity”
- the discrepancies between the two formats are “largely a methodological issue”
- related to a change in how the storage numbers are rounded as well as how the non-sample estimate is calculated
- The new method also includes a change in rounding. Currently, storage stocks reported in each region are rounded, and then the Lower-48 total is calculated as the sum of those rounded values. This caused the sum of the three regions to always equal the Lower-48 total.
- However, under the new five-region format, the Lower 48 total will be calculated, and then each region and the national total will be rounded individually to the nearest Bcf. This could cause the sum of the five regions to differ from the Lower-48 total by as much as 2 Bcf in a given week. But the EIA argue this technique is a more methodologically sound approach, “as rounding is typically the very last step in an algebraic operation.”
Who oversees a monopoly that is spending recklessly?
A utility is granted a monopoly to conduct its business for the benefit of the public. Without competition (and who would want more poles on the street or the road ripped more for more pipes), state regulators decide if the utility is spending money in the public interest; that is for improving the distribution of energy.
Peoples Gas estimated repairs to maintain its pipes at $4.5 Billion in just a year that number is now $8 BILLION.
This after a consultant was hired that reviewed Peoples work practice in the repairs and found them to be in disarray.
Recall, a utility monopoly earns profit by spending money; that is they earn a rate of return for borrowing money and investing it to perform its job. The regulators are charged with making sure we, the public, get its money worth.
In Illinois, the regulators overseeing utilities is called the Illinois Commerce Commission (ICC). Without diligence and competency by the ICC, Peoples Gas can waste money and still earn a profit without the residents receiving any benefit.
If there is no competition for service, we need a strong watchdog to ensure we get value for our investment.
Realgy Energy Services is a registered Retail Energy Marketer in the states of Illinois, Michigan and Indiana. We offer Service Plans that will provide electric and natural gas at wholesale pricing direct to customers without any utility markup. Our Service Plans work with the local utility to provide seamless service and annual energy savings. Service Plans include Guaranteed SavingsTM, ManagedPriceTM, ManagedGreenTM and Index, Fixed pricing.
Additional information: www.realgyenergyservices.com
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