Alberta’s weighted average Power Pool Price for January is currently $47.03/MWh. Compared to last week’s price of $44.61/MWh, this represents a net increase of $2.42/MWh or 5.4%. Volatility this past week has been minor compared to the week prior. There was only one instance of a Power Pool Price peaking over $100/MWh, on January 12th at 8am MST, when the price reached $126.59/MWh, before settling back to seasonal norms. Average hourly demand has increased slightly week-over-week, rising by 0.8% or 82MW to a rate of 10,166MW. A few generator outages attributed to the slight increase in pricing, including Calgary Energy Centre, Sundance 6 and Path 83, all of which have since come back online.
The weighted average Hourly Ontario Energy Price (HOEP) is currently at 1.9¢/kWh for January, an uptick of 0.1¢/kWh or 6% compared to last week’s settle. Compared to average January levels, demand and supply this week are both up about 2% (16,019MW and 16,367MW, respectively). With the exception of biofuel (-17%, 28MW), all generating sources have increased their supply: nuclear (+1%, 9,885MW), hydro (+1%, 4,484MW), gas (+3%, 1,296MW), wind (+34%, 647MW), and solar (+46%, 22MW). Currently, with the first Global Adjustment estimated at 8.6¢/kWh, December’s total market price is 10.5¢/kWh.
– Mark Ljuckanov, Energy Advisor / Ryan Cosgrove, Energy Data Analyst / Sarah Clemente, Energy Data Analyst