The past week was fairly uneventful in terms of plant outages, demand and weather, resulting in an all-hours average of $20.51/MWh. This week’s average demand of 9,142 MW is up around 2% from this week last year on the back of strengthening industrial activity. So far every month this year has come in higher than the corresponding month in 2016 and August is following suit with a month-to-date average price approximately 33% higher than 2016’s August average of $17.90/MWh.
The AECO-C natural gas spot price averaged $1.94/GJ, $0.50/GJ (34.7%) higher than the previous week’s average as the high volume of planned and unplanned outages of the previous few weeks are largely resolved. So far August has averaged $1.72/GJ.
Monday’s solar eclipse had a noticeable effect on solar power production in the province. The Banff Town Hall’s solar installation in particular recorded an 80% reduction in generation versus the same time of day for the past week. This dip resulted in the 11:30 interval closely resembling a typical December 11:30.