The Weather
Last week
Last week (ending November 1), the number of heating degree days (HDDs) surged by no less than 65.0% w-o-w (from 61 to 102), as weather conditions cooled down significantly across the Lower-48 states. Cooling demand has dropped by about 48.0% and 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 34.0% above last year's level and 26.0% above the norm (see the chart below).
This week
This week (ending November 8), the