UCP government is elected, leaving Alberta electricity waiting for policy

There’s winter in the forecast this week after a beautiful Easter weekend! The warm weather led to
decreased settles by 13% to $31.53/MWh. Forwards are down slightly this week as well. There is potential
for stronger settles this week with some thermal generation offline, however, wind has been strong all
week.

Gas prices averaged $1.31/GJ this week, down 10% from the previous. Two days settled under $1/GJ again,
attributed to the warm weather. The forward curve is flat week over week.

Big news in Alberta is that the United Conservative Party was elected with a majority government on
Tuesday with 63 seats. Rachel Notley will lead the official opposition party. Jason Kenney has announced his
senior members of staff including Stephen Harper as a key member. Premier Kenney and his cabinet will be
sworn in on April 30th.