Operational - Quarterly Summary

 

Q4
2023
Q3
2023
Q2
2023
Q1
2023
Q4
2022

Utilities

         
Natural gas deliveries – end use (Bcf) (1) 48.3 8.5 15.3 61.3 54.3
Natural gas deliveries – transportation (Bcf) (1) 30.5 19.9 19.5 38.2 34.0
Service sites (thousands) (2) 1,560 1,553 1,553 1,554 1,704
Degree day variance from normal – SEMCO Gas (%) (3) (9.8) (19.4) (5.6) (12.1) (1.7)
Degree day variance from normal – ENSTAR (%) (3) n/a n/a n/a (4.9) 8.7
Degree day variance from normal – Washington Gas (%) (3)(4) (9.2) (27.0) (22.2) 9.2
WGL retail energy marketing – gas sales volumes (Mmcf) 16,863 8,550 10,623 20,402 18,064
WGL retail energy marketing – electricity sales volumes (GWh) 3,518 4,134 3,365 3,322 3,328

Midstream

         
LPG export volumes (Bbls/d) (5) 90,996 118,213 115,589 99,444 97,152
Total inlet gas processed (Mmcf/d) (5) 1,312 1,182 1,344 1,372 1,274
Extracted ethane volumes (Bbls/d) (5) 23,879 25,501 24,927 21,796 21,947
Extracted NGL volumes (Bbls/d) (5)(6) 36,138 36,070 35,765 34,390 34,782
Fractionation volumes (Bbls/d) (5)(7) 38,150 39,699 38,364 41,655 36,658
Frac spread – realized ($/Bbl) (5)(8) 23.13 23.75 23.87 27.04 25.14
Frac spread – average spot price ($/Bbl) (5)(9) 20.55 21.31 21.56 26.89 23.14
Propane Far East Index (FEI) to Mont Belvieu spread (US$/Bbl) (5)(10) 26.44 21.30 14.54 20.46 18.95
Butane FEI to Mont Belvieu spread (US$/Bbl) (5)(11) 27.74 22.07 15.29 16.99 18.59

Notes:

(1) Bcf is one billion cubic feet.
(2) Service sites reflect all of the service sites of the utilities, including transportation and non‑regulated business lines.
(3) A degree day is a measure of coldness determined daily as the number of degrees the average temperature during the day in question is below 65 degrees Fahrenheit. Degree days for a particular period are determined by adding the degree days incurred during each day of the period. Normal degree days for a particular period are the average of degree days during the prior 15 years for SEMCO Gas, during the prior 10 years for ENSTAR, and during the prior 30 years for Washington Gas. The degree day variance from normal for ENSTAR is for the period prior to the close of the Alaska Utilities Disposition on March 1, 2023.
(4) In certain of Washington Gas’ jurisdictions (Virginia and Maryland) there are billing mechanisms in place which are designed to eliminate the effects of variance in customer usage caused by weather and other factors such as conservation. In the District of Columbia, there is no weather normalization billing mechanism nor does Washington Gas hedge to offset the effects of weather. As a result, colder or warmer weather will result in variances to financial results.
(5) Average for the period.
(6) NGL volumes refer to propane, butane and condensate.
(7) Fractionation volumes include NGL mix volumes processed.
(8) Realized frac spread or NGL margin, expressed in dollars per barrel of NGL, is derived from sales recorded by the segment during the period for frac spread exposed volumes plus the settlement value of frac hedges settled in the period less extraction premiums, divided by the total frac exposed volumes produced during the period.
(9) Average spot frac spread or NGL margin, expressed in dollars per barrel of NGL, is indicative of the average sales price that AltaGas receives for propane, butane and condensate less extraction premiums, before accounting for hedges, divided by the respective frac spread exposed volumes for the period.
(10) Average propane price spread between FEI and Mont Belvieu TET commercial index.
(11) Average butane price spread between FEI and Mont Belvieu TET commercial index.