Prices average fairly soft as Alberta experiences some of the warmest fall weather in ten years

With some of the warmest fall weather in the last ten years, prices averaged fairly soft at $32.45/MWh. September prices averaged 34% down year over year at $36.05/MWh. Remaining demand destruction and high thermal availability were contributing factors. Significant trades into Q1 have created volatility in the near term curve we expected to see – as positions are closed out, monthly bullet pricing is moving on a daily basis.

Gas prices tumbled 18% this week to $1.59/GJ. Settles were weak with the mild weather. We have officially entered the Winter contract.

All eyes are on the media this week – following COVID case counts across Alberta. With the warm weather, many have their fingers crossed it continues to hold out for Halloween – which may look a little different this year but has been given the go ahead so far.