Everyone is back after a typical May long weekend with a mixed bag of weather – chilly and a little damp in many
places although some areas saw some sun! Prices were extremely moderate for the week averaging $27.77/
MWh, 43% less than the last. Low demand and significant wind generation kept prices under $30/MWh for hours
at a time. Forwards remain flat, however, anticipation of further market announcements has the industry on high
Gas prices also decreased to $2.15/GJ, a 15% decrease week over week. Restrictions at James River from last
week have been lifted, bringing prices back down. Since the beginning of the year, gas settles have seen extreme
volatility mostly due to shipping restrictions.
Last week, the Senate committee rejected Bill C-48, a highly controversial bill that would put a federal ban on
tanker traffic off BC’s north coast. Additionally, 187 amendments were approved on Bill C-69 – but Premier
Kenney is not done with the Bill yet. It is expected that many more changes will occur before there is a vote.