School’s back in and Fall is here!

Summer flew by with kids heading back to school today. Albeit, summer weather was hit and miss this year.
August settles were below expectation mostly due to mild weather, averaging $45.40/MWh. The week averaged
$35.39/MWh, slightly below the week prior. With the trading holiday yesterday, forwards are relatively flat.

Gas prices dropped significantly in Alberta this week to $0.22/GJ. This is the lowest gas settle since June, attributed
to Saturday settling below $0/GJ. West Gate restrictions have been in place over the last week. The Alberta/BC
border flows came in at the highest level this morning in the last month, so prices may increase as restrictions are
lifted.

Bill C-69 was proclaimed into law this week. This means that the National Energy Board is now known as the
Canadian Energy Regulator. The Alberta Energy Minister Sonya Savage responded to the news calling it an
“unconstitutional attack on Alberta.”