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Cold weather has prices sky high in Alberta

February is off to a bold start with $453.07/MWh on Sunday, the highest daily settle since July 2014. Forced outages on
thermal, weak wind and strong demand led the Alberta Electricity System Operator to issue an energy alert. The week
averaged $168.49/MWh, a 385% increase week over week. Cold weather is expected to continue through the week
with strong settles. Settles have put upward pressure on price with forwards up ~$0.50/MWh week over week.

February gas prices have also responded to the cold weather across Canada. The weekly average is double last week at
$2.82/GJ. The last five days have averaged over $2/GJ, bringing the expected monthly average up. Forward prices have
also moved up in response. The largest withdrawal of gas from Dawn storage on record was done on January 30th at
4.93Bcf/d.

Canada has become the 160th member of the International Renewable Energy Agency. This organization is dedicated to
assisting countries in their transition to a renewable energy future. Two thirds of Canada’s power generation is
renewable.