The Weather
Last week
Last week (ending January 10), the number of heating degree days (HDDs) increased by 9.7% w-o-w (from 145 to 159). Cooling demand remained too weak to have a meaningful impact on natural gas consumption. Despite higher HDDs, we estimate that total energy demand (as measured in total degree days, or TDDs) was approximately 2.2% below last year's level and as much as 20.9% below 30-year norm.
This week
This week (ending January 17), the weather conditions are getting warmer, but only slightly. We estimate that the number of nationwide HDDs will