The Weather
Last week
Last week (ending November 8), the number of heating degree days (HDDs) jumped by 22.6% w-o-w (from 102 to 125), as weather conditions continued to get colder across the Lower-48 states. Cooling demand has dropped by about 19.3% 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 18.0% above last year's level and 30.0% above the norm (see the chart below).
This week
This week (ending November 15), the weather conditions