As we approach May long weekend, eyes are on the forecast with hopes of getting outside and enjoying sunshine. We are also expecting to see some businesses start to open up this week as government regulations are eased with lower COVID-19 numbers. Demand remains down ~900 MW due to the price of oil and work from home restrictions. Settles this week remained low at $25.46/MWh. The curve remains relatively flat.
AECO settles this week averaged $2.12/GJ, up 8% week over week. The AECO curve which had been gaining significant strength came over ~$0.10/GJ in the balance of year this week and there were significant injections into storage.
Construction on the Trans Mountain Expansion is expected to start in BC, the first leg of the project in Alberta is 60% complete.