Alberta Wire November 7th, 2017

The first week of November is over, and prices across the board have increased. The week’s power and gas prices settled 40% and 166% higher than the previous week, at $24.37/MWh and $2.55/GJ respectively. Power forwards again responded to the strengthened natural gas price, moving up an average of 5% through 2020. The past week averaged three degrees lower in Calgary and Edmonton than normal, and gas prices have responded to the temperature change. Stronger gas prices are expected to continue with increased demand across the province. In addition, storage withdrawals have begun earlier than expected which is contributing to the increased prices.
Everyone in the province enjoyed an extra hour on Sunday as the clocks moved back, and the highly controversial practice will continue, as the Alberta government voted against Bill 203. The bill received significant feedback after it was proposed, with 65% of respondents in favor, but many large companies including the Oilers Entertainment Group opposed as scheduling constraints would affect the core business.