A beautiful long weekend kept prices reasonably steady, as the week settled $93.28/MWh! This was a 56% increase
week over week and a 252% increase over the previous week. Tuesday saw the highest settles since July 30th, 2014 at
$395.55/MWh, prices reached the cap with numerous hourly settles at $999.99/MWh. There was an upward pressure
on demand with significantly reduced thermal availability. Forward prices are up ~$0.25/MWh week over week,
reacting to the higher settles we have seen.
Weekly gas price saw a similar trend to power, up 297% week over week averaging $1.69/GJ. East Gate restrictions
were lifted temporarily, increasing exports and injections into storage. However, maintenance is set to resume again
this week which will put downward pressure back on price.
With only nine days until Kinder Morgan is set to make a decision regarding Trans Mountain, Premier Rachel Notley
chose to send Deputy Premier Sarah Hoffman to the Western Premiers’ Conference. Premier Notley is ready to trigger
Bill 12 if required, but until the end of the month her focus will only be on the success of the pipeline project.