The coming spring could rank among the top-ten warmest on record, but that warmth isn’t expected to be as widespread or as extreme as last year, according to AccuWeather.com’s long-range forecast team.
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Dreaming of a White Christmas?
This year likely will finish as the warmest since “at least” 1950 across the United States, but enough cold air is on the radar to spread snow to areas that have been without on Christmas for a few years, according to Accuweather.com.
AccuWeather’s Bastardi Sees Winter Turning ‘Cold and Stormy’
Despite the U.S. having just experienced its fourth warmest December since records began in 1895 (see related story), AccuWeather chief long-range forecaster Joe Bastardi said the unseasonably warm winter to date in the United States is likely to “turn on a dime” this month. If his forecast proves true, natural gas and power prices could be jolted higher, as already evidenced by the natural gas futures market’s response to these cold front warnings.
AccuWeather’s Bastardi Sees Winter Turning ‘Cold and Stormy’
Despite the U.S. having just experienced its fourth warmest December since records began in 1895 (see Daily GPI, Jan. 10), AccuWeather chief long-range forecaster Joe Bastardi said the unseasonably warm winter to date in the United States is likely to “turn on a dime” this month. If his forecast proves true, natural gas and power prices could be jolted higher, as already evidenced by the natural gas futures market’s response to these cold front warnings.
WSI Seasonal Temperature Forecast ‘Neutral to Bearish’
November could be a cold month for gas consumers in the Northeast, according to Weather Services International’s latest seasonal forecast, but the outlook is mixed for the winter overall. WSI’s forecast calls for cooler than normal temperatures on average from November through January in the southern Plains (e.g., Dallas, Houston, Little Rock), the Southeast and the Mid Atlantic regions. Warmer than normal temperatures are expected on average over those three months in the Pacific Northwest, California, the northern Plains (e.g., Minneapolis and Chicago) and the Southwest.
WSI Seasonal Temperature Forecast ‘Neutral to Bearish’
November could be a cold month for gas consumers in the Northeast, according to Weather Services International’s latest seasonal forecast, but the outlook is mixed for the winter overall. WSI’s forecast calls for cooler than normal temperatures on average from November through January in the southern Plains (e.g., Dallas, Houston, Little Rock), the Southeast and the Mid Atlantic regions. Warmer than normal temperatures are expected on average over those three months in the Pacific Northwest, California, the northern Plains (e.g., Minneapolis and Chicago) and the Southwest.
Warm Weather, Economy Stifle Con Edison Q1 Earnings
New York City utility owner Consolidated Edison Inc. saw first quarter earnings fall 6.9% after one of the warmest winters in the Northeast on record coupled with weak economic conditions. Net income was $166.6 million ($0.78 a share), compared with earnings of $179.1 million ( $0.84) for the first quarter of 2001. Analysts had expected quarterly earnings of 80 cents. Revenue also fell, dropping 27% to $2.1 billion from $2.89 billion for the same period a year ago.
PaineWebber: Let the Good Times Roll
Taking into account strong gas futures prices despite thewarmest winter on record, a bleak supply picture and projections ofa very hot summer, PaineWebber reported an increase in its year2000 projection of composite spot gas prices from $2.40/MMBtu to$2.50/MMBtu. The firm’s report, issued yesterday, also indicatedthat the time is right to invest in diversified energy companies.
CMS Survives Warm Year; Looks to Future
Despite the warmest year since 1921 in Michigan and a poorfourth quarter, CMS Energy announced a growth in net income to $284million, or $2.65 per share, in 1998 from $244 million, or $2.39per share, in 1997. The company credited improvements in both itsutility and international energy businesses as reasons for thegrowth.