The summer is flying by and much like any other summer in Alberta, there is significant volatility in power prices.
Daily settles were between $28.91/MWh and $275.31/MWh. Another new summer peak was set at 11,099MW
last Tuesday, when we saw the highest hourly settles as wind generation was lower with the higher temperatures.
The week averaged 52% higher than last at $72.97/MWh. Another notable announcement in the market is that
Sundance 2 will be officially retired July 31, 2018. There was movement across the forwards this week with near
term prices flat to slightly decreasing with longer dated terms increasing by ~$0.50/MWh on average.
There was some softness in gas prices week over week with a 16% decrease to $1.09/GJ. Nova continues to limit
gas and forecasted maintenance events remain in place through the balance of summer. However, month to
date price of July is up $0.5/GJ over the June average, which can be attributed to the return of some of the oil
sands and refinery load. This has reduced the surplus gas on the Nova system and lifted prices.