In the last week Alberta has continued to show resilience in a time of turmoil – offices are closed, gyms are closed and schools are closed. As we work to “flatten the curve,” we have flattened the price of power with an ~200 MW decrease in consumption attributed to social distancing. Although demand was down, prices were up over the weekend while we temporarily went back to a winter wonderland. Price averaged $45.62/MWh, an increase of 32% week over week. Trending with the rest of the stock market, balance of year is down ~$1.75/MWh, partly attributed to an assumption that demand will stay down as this pandemic runs its course.
Gas prices were up 17% to $2.05/GJ with the colder than normal weather. Gas forwards having been moving around with the price of oil, but is expected to also settle somewhat lower attributed to less demand in public and large spaces.
The biggest message being circulated right now is to stay home if you can and flatten the curve – don’t forget to check in on those who are usually around you! Our team will be getting onto calls together more than usual to catch up with each other and talk about what we’re working on!