The Weather
Last week
Last week (ending February 21), the number of heating degree days (HDDs) edged down by 2.1% w-o-w (from 181 to 177). We estimate that total energy demand (as measured in total degree days, or TDDs) was 10.7% below last year's level, but 3.8% above the 30-year norm. Cooling demand remained too weak to have a meaningful impact on natural gas consumption.
This week
This week (ending February 28), the weather conditions are getting significantly warmer. We estimate that the number of nationwide HDDs will plunge by 15.4% w-o-w (from 177 to