The Weather
Last week
Last week (ending October 18), the number of heating degree-days (HDDs) surged by approximately 77.0% w-o-w (from 37 to 66), as weather conditions cooled down across the country. Cooling demand has dropped by about 49% and is now 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 17.0% below last year's level, but 12.0% above the norm (see the chart below).
This week
This week (ending October 25), the weather conditions are warming up