Alberta power prices settled extremely low this week with increased wind generation over the weekend. A new peak was set for wind generated within an hour at 1,657MW. The forward curve has seen very little volatility week over week as prices remain low and there was little encouragement reported in the news to point to any change coming that would increase demand. Prices averaged 12% less this week at $26.98/MWh. As Saskatchewan looks to begin reopening parts of their province, all eyes are on their plan as Alberta’s main focus is continuing to flatten the curve and contain outbreak of COVID-19.
Gas prices continue to remain strong, averaging $1.94/GJ this week. With strength in the AECO forward curve, some gas production companies are looking at potentially drilling new wells in the fall.
Positive news this week was that the TransMountain Expansion project remains on schedule even with the pandemic. Additionally, Alberta’s top doctor commended Alberta’s on flattening the curve well below projections initially released.