Trans Mountain Expansion approved by federal government

The first day of summer was this week and the July long weekend is quickly approaching! With summer
weather comes summer lightning storms. This week averaged 51% lower than the previous at $45.71/MWh.
Interestingly, daily settles were as high as $161/MWh and as low as $21/MWh. The forward curve has
continued the climb by ~$0.50/MWh.

Gas prices decrease this week with one day averaging below $0/GJ. The weekly average was also down 50%
to $0.18/GJ.

The Trans Mountain Expansion was approved by the federal government last week with the expectation that
shovels will be back in the ground this year. Additionally, Bills C-48 and C-69 were passed. Premier Kenney
has stated that the legislation creates massive new uncertainty for energy projects.