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Last week (ending October 25), the number of heating degree days (HDDs) dropped by approximately 7.5% w-o-w (from 66 to 61), as weather conditions warmed up slightly across the country. Cooling demand has increased by about 16.9% but remains too weak to have a meaningful impact on natural gas consumption. We estimate that total energy demand (as measured in total degree days, or TDDs) was approximately 20.0% below last year's level, but only 2.0% below the norm (see the chart below).
This week
This week (ending November 1), the weather conditions