Alberta Wire November 28, 2017

A quiet week for Alberta power and natural gas as market liquidity was reduced due to American Thanksgiving. Forward prices had very little movement week over week, but the weekly average decreased over 50% to $21.32/MWh with good availability of thermal generation, milder temperatures and strong winds. Month over month prices are expected to settle ~20% higher in November than October, and December prices are expected to continue to rise ~10%.
AECO-C settled under $2.00/GJ every day this week for an average of $1.88/GJ. The lowest settles we have seen in November, partly again attributed to decreased liquidity from Thanksgiving. Month over month prices increased ~65% to settle ~$2.20/GJ.
In industry news, South Australia is expecting to have a 100 MW battery go live on December 1, 2017. The project was built in under 100 days by Elon Musk and team, and is expected to help the Australian grid survive their hot hot summers!