Power prices remain low, but gas continues to settle strong

As we enter June – changes to normal are occurring all around us. Many stores have started to open again and there are more people out on the streets wearing masks and even gloves. Although school’s are closed, online learning will wrap up this month as everyone heads into summer. May averaged $26.39/MWh, a 64% decrease over May 2019. Although some demand has returned in the province, decreased production from the Oil & Gas sector continues to depress prices. The week averaged $23.67/MWh.

While power prices remain low, gas continues to settle strong, averaging $1.93/GJ this week. The forward curve also remains strong as injections into storage continue.

The provincial government is working towards an economic recovery plan that continues to support Alberta’s largest industries such as energy and agriculture, but also looks to move into tech, tourism and petrochemical manufacturing.