The Weather
Last week
Last week (ending February 7), the number of heating degree days (HDDs) declined by 4.4% w-o-w (from 164 to 157). We estimate that total energy demand (as measured in total degree days, or TDDs) was 3.0% below last year's level, but as much as 17.6% below the 30-year norm. Cooling demand remained too weak to have a meaningful impact on natural gas consumption.
This week
This week (ending February 14), the weather conditions will get significantly colder. We estimate that the number of nationwide HDDs will increase by 13.6% w-o-w (from