It’s a big week with Canada Day and July 4th Holidays being observed by markets. Everyone’s fingers are crossed for a sunny week to celebrate outside with friends. The first week of summer has had below average seasonal temperatures, averaging 33% less than last week at $31.41/MWh. The tie line was restored to full capacity, increasing flows and contributing to softer settles. The forward curve is flat week over week.
Gas settles remain consistent and the forward curve is relatively flat as we enter a week of reduced trading hours for holiday’s. Price averaged $1.75/GJ, flat week over week.
Premier Jason Kenney announced investment in infrastructure and cutting corporate tax as part of the plan to restart the economy. Tens of thousands of jobs are expected to be created between now and 2022. The infrastructure projects will include health-care facilities and schools.