The Alberta Wire – January 16, 2018

What a week in the Alberta power market! Friday had the highest daily settle we have seen since August 2015 at
$235.57/MWh. The week overall settled 50% higher than last, at $66.21/MWh, with the highest hourly settle at
$929.83/MWh. 11 hours settled above $100/MWh as there were strong thermal derates, weak wind and strong
demand across the province. Forward prices are up an average $0.75/MWh due to colder weather this week combined
with market conditions.
Gas markets were quieter than power, as markets were closed on Monday for a US holiday. Price settled 27% lower
than last week at $2.1/GJ.
The cryptocurrency Bitcoin has seen considerable media attention lately for its highly volatile price. An analysis put out
by Morgan Stanley last week also highlighted that the mining process uses as much electricity as Argentina, and
significantly more than all electric vehicles combined. Cryptocurrency mining uses power for computers that process
complex calculations, as well as constantly cooling the area so the machines do not overheat.