Alberta power waiting for announcements from UCP

Alberta weather is back to spring with forecasts in the twenties this weekend. Mild weather over the past week
had settles 14% down previous to last at $43.51/MWh. Forwards continue to climb although no material
announcements have been made specifically relating to the power market. The curve is up an average $0.30/
MWh across all terms.

Gas prices settled significantly higher with Bill 12 or the “turn off the taps legislation” being officially enacted.
Prices were up almost 400% averaging $1.69/GJ. BC has requested an injunction, which was delayed this week
and tentatively rescheduled for June 6. Gas forwards are up ~$0.03/GJ.

Another important date in June to remember is the 18th. Ottawa is set to make a decision on the Trans Mountain
Expansion. Consultation with indigenous leaders and groups will continue until then. Premier Kenney has said he
expects it to move forward.