Thursday, June 2, 2011

EIA: Storage +83 Bcf to 2.107 Tcf

The weekly EIA working gas in storage report showed an 83 Bcf net injection, bringing the total gas in storage to 2.107 Tcf.  The weekly injection was 8% lower than last year (+90 Bcf) and 16% lower than the five year average (+99 Bcf).  The current storage level is 237 Bcf below last year (2.344 Tcf) and 43 Bcf below the five year average (2.149 Tcf).

Temperatures last week averaged a devilish 66.6 degrees, which was 2.0 degrees warmer than the five year average and 0.9 degrees colder than last year. With the warmer season upon us, cooling degree days now become the driver of electric power consumption.

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