Alberta power price volatility and electric buses in Calgary and Edmonton

Power prices were relatively steady in the $30-$40/MWh range until yesterday. As a result of 800 MW of thermal
generation offline, weak wind supply and derated import capacity from Montana, Monday settled at $278.79/
MWh. The week averaged $76.51/MWh, 14% higher than the previous week. Forward prices increased an
average of $1.00/MWh, continuing to react to high settled prices.

Gas prices decreased 8% week over week, with Monday settling at -$0.03/GJ. The week averaged $0.57/GJ.
Decreased prices are attributed to maintenance by producers and on the Nova system. Future prices are
expected to remain in positive territory now that maintenance activities are largely concluded.

Calgary is looking to add electric buses to its fleet in 2019 as Edmonton has already announced a pilot project.
This announcement comes after an analysis of the costs associated with the carbon tax, making green vehicles
more attractive.