It’s week two of Work From Home for TransAlta and many other companies. It feels like everyone is starting to get used to the new normal. Alberta demand continues to be ~250 MW lower than usual due to the impacts of social distancing. Interestingly, prices settled $125/MWh last week when two thermal units tripped. The weekly average was $54.17/MWh, a 19% increase week over week. The forward curve continues to decrease with uncertainty as to how the virus will continue to move and what the impacts will be.
AECO gas settles were down 9% this week to $1.91/GJ. The AECO forward curve continues to gain relative to Nymex pricing. Forward pricing is well over the $2/GJ mark – with strength in the back end of the curve as production and supply are in question.
Something everyone in Alberta seems to agree on is how great Deena Hinshaw has been since the pandemic started. A viral campaign featuring Hinshaw is raising thousands for the foodbank and school children.