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Industry asking if gas curtailments could work in Alberta

A couple colder days across Alberta this week led to the first hourly settles in the triple digits of 2019 with the
highest hour settling at $394.44/MWh. Weaker than expected wind generation, derates on thermal generation
and higher demand contributed to a weekly average of $46.02/MWh, a 19% increase week over week. With a US
trading holiday yesterday, forward prices remain flat week over week.

Alberta Gas prices are up 12% to $1.98/GJ this week. Eastern Canadian demand is reaching the highest of this
winter season due to a cold front. Price impacts to the West have been minimal so far but forwards are up
slightly.

Some industry leaders are asking if curtailments on gas could work the same as oil. With the price of Western
Canadian Select up responding to curtailments, the gas sector is seeing potential to decrease the volatility of 2018
with negative pricing some days. The government has indicated that they are not opposed, but would like to try
alternative options first.