UCP releases Alberta 2020 budget

Spring is in the air and the time change is coming up this weekend. February settled low at $36.33/MWh – significantly lower than the previous February – but year to date of 2019 and 2020 are both in the high $70/MWh range. Price volatility continues in the near term forward curve. The week averaged $33.59/MWh, a 27% decrease week over week. There are no major outages expected for thermal generation coming up – but flows on the intertie are expected to decrease with strong wind expected in the province.

Gas prices decreased by 5%, averaging $1.69/GJ. Storage levels remain constant as the winter contract is coming to a close.

The Alberta 2020 budget was released by the UCP this week. The focus is on getting Alberta back to work, getting spending under control, getting a fair deal and getting services to people who need them.