The Alberta Wire November 21, 2017

The week came to an eventful close, with up to 2 GW of thermal generation offline, prices settled at $33.25/MWh. The 33%
increase can also be attributed to lower than forecasted wind generation and consistent demand. Yesterday had 9 hours
settling above $50/MWh, for a daily settle price of $83.83/MWh. Yesterday was the second highest daily settle of 2017, after
July 26th at $159.73/MWh. Forwards moved up ~0.50/MWh in conjunction with higher settles week over week.
AECO-C gas price continued to fall slightly this week, settling 15% lower than the previous at $2.04/GJ. The month to date
average is $2.32/GJ, and with only 6 trading days left in November, price is on track to settle above $2/GJ, something we
haven’t seen since June this year.
Big news this week – Keystone XL was approved by the Nebraska Public Service Commission in a 3:2 vote. The project is set to
move ahead, but on a different path than originally intended. This may open another round of regulatory battles, but the
project is one step closer to beginning construction.