While Alberta reviews opening Phase 2, some offices are starting to return to work. Alberta demand has remained relatively flat with high supply availability and low prices. This week averaged $27.86/MWh, 18% higher week over week. The forward curve has some fluctuation in the balance of year as Alberta trading has been fairly active with rebalancing of positions due to current market conditions.
Gas prices averaged $1.88/GJ, only 3% lower than last week. AECO gas prices have remained steady week over week in the summer contract. Concern over supply adequacy with decreased production remains.
This week, a strike of lightning hit the Alberta-BC tie line, leaving thousands of customers without power. This is the first time something like this has happened in a decade according to AESO. With significant supply availability in Alberta, no emergency alerts were issued.