On Friday May 31, the EIA released their natural gas for power consumption by end use numbers for March 2013. Genscape provides its customers with Lower 48 natural gas for power consumption estimates each day. When comparing the EIA’s consumption by end use numbers in March 2013, Genscape had a very strong correlation with the reported EIA number.
Below is a comparison between Genscape’s daily natural gas for power consumption, aggregated by month, against the EIA.|
March 2013 Natural Gas for Power Consumption:
| EIA: | 602343 |
| Genscape: | 609415 |
| Error: | ~1.17% |
The first version of Genscape’s estimate is available morning-of the day being estimated. Over the next couple of days the natural gas team refines this estimate as more data comes in. The EIA values are monthly aggregates (not daily values) and are only available two months later.
Using these estimates, Genscape customers are able to understand monthly values earlier and get insight into daily values, which are not available from EIA data. Genscape specializes in providing advanced notice of natural gas market fundamentals so that market participants can optimize their positions and make more educated decisions.
If you are interested in a trial of any of Genscape’s Natural Gas Services visit: http://info.genscape.com/natural-gas-services