Low electricity and natural gas rates

Power price was down 11% this week, averaging $26.51/MWh. With the low gas prices seen over the week, more
gas thermal generation was run, keeping the pool price lower over the weekend. Forward prices are down an
average of $0.50/MWh.

Gas prices were extremely volatile this week, with a daily settle in the negative territory of -$0.07/GJ. The week
averaged $0.27/GJ, an 81% decrease week over week. The decrease was expected in the forward curve.
Production has decreased this week attributed to low prices, constrained export capacity and the warmer
weather.

Energy Efficiency Alberta has selected nine oil sands projects for a total of $70 million in funding to put towards
Green House Gas emission reduction technologies. The projects are expected to reduce up to 4.1 million tonnes
of CO2 annually by 2030. These projects will contribute towards the growth of the industry while maintaining a
limit below the cap of 100 million tonnes.