FCG - Natural Gas Market: Consumption Is Projected To Remain Largely Below Last Year's Level
The Weather
Last week
Last week (ending August 28), the number of cooling degree days (CDDs) increased by 10.7% w-o-w (from 90 to 100). We estimate that total energy demand (as measured in total degree days, or TDDs) was as much as 29.5% above last year's level and 29.1% above the 30-year average.
This week
This week (ending September 4), the weather conditions have cooled down substantially across the contiguous United States. We estimate that the number of nationwide CDDs will plunge by 21.7% w-o-w (from 100 to 78). Total average daily consumption of natural