Alberta wind generation down over previous years

This week saw greater volatility than last with unexpected thermal units offline, increasing the weekly average by 67% to
$49.18/MWh. However, with half of July over and only 7 hours settling above $100/MWh, we are on track to have a lower
monthly average than July 2018. Contributing to the lower settles are a slight decrease in demand over July 2018 and below
seasonal temperatures. The forward curve remains flat. Looking at the first half of 2019, year to date prices are higher than
this time in 2018 which is partially attributed to lower overall wind generated. Wind has supplied an average of 413 MW this
year, compared to an average 512 over the last three years.
Gas prices are up 70% this week at $1.70/GJ. There was no major maintenance last week, however, both East and West
gates now have restrictions on them. Forwards remain flat even with volatility in settles.
Environment Minister Jason Nixon and Energy Minister Sonya Savage have been asked by Premier Jason Kenney to review
the Alberta Energy Regulator. One of the main items being reviewed is the length of time it takes for major projects to be
approved. It is also anticipated that there will be a requirement for the organization to reduce costs.