New peak summer demand, new record temperature in Calgary

A scorcher in Calgary last week led to two new records: another peak summer demand at 11,169 MW and a
record temperature at 36.4 degrees Celsius! The week settled 89% higher than previous at $136.33/MWh,
pushing the monthly average for August above $100/MWh. Forwards have been surprisingly stable despite the
spot market volatility week over week.

There was strength in AECO prices this week, up 39% to $1.25/GJ. The increase in price week over week is
attributed to slightly higher demand in Alberta and decreased production in BC, leading to tighter market
conditions overall.

The AESO provided feedback on stakeholder comments for the final Comprehensive Market Design. Notable
comments included a change for how coal-to-gas conversion assets are treated in the capacity market. All
stakeholder comments will be discussed at the next session for consultation on ISO rules in September.