Business Council of Alberta is announced

After a weekend full of Canada Day activities, it’s finally summer and Calgary is ready to kick off the
Stampede. Power prices averaged 31% less than the previous week at $31.46/MWh. Softness in prices was
attributed to higher wind generation and high thermal availability. The forward curve has also seen some
softness for the first time in a few weeks.

Gas prices averaged almost a 400% increase this week, but still below a dollar at $0.88/GJ. The AECO winter
months have gained strength possibly attributed to lower winter-over-winter storage.

The Business Council of Alberta was released this week, with over 40 senior executives including the top 10
firms in each of the 10 largest industries in the province. The Council will be looking into a limited number of
policy issues and thinking longer-term for improving Alberta’s economy.