Alberta’s weighted average Power Pool Price for July is currently $133.42/MWh. Relative to last week’s price of $119.80/MWh, this is an increase of $13.62/MWh or 11.4%. Hourly demand remained similar week-over-week, with peak demand of 11,097MW on July 27th at 5pm MST. Daily prices increased steadily throughout the week, reaching $318.39/MWh on the 27th. Hourly volatility was also present, with prices reaching as high as $730.42/MWh on July 26th at 8pm MST. Regarding generator outages, Sheerness 1 was offline for a few days, and Battle River 4 came back online this week.
The weighted average Hourly Ontario Energy Price (HOEP) is settling at 6.0¢/kWh so far for the month of July, representing a 0.3¢/kWh or 5.0% increase over last week’s settle. Despite this uptick in price, natural gas-burning supply decreased by -0.4% (2,317MW) over the course of this past week. Baseload generation, such as nuclear, increased its output to an average of 9,804MW, a 149.39MW or 1.5% increase compared to last week. Hydro-based generation, on the other hand, decreased output, falling 0.5% to an average of 3,989MW. Wind and biofuel increased output (+5.5%; 989MW, +0.9%; 60MW, respectively), whereas solar decreased (-0.6%, -120MW). With the first Global Adjustment estimated at 8.5¢/kWh, July’s total market price is settling at 14.5¢/kWh as of today.
– Clara Birch, Energy Data Analyst / Ryan Cosgrove, Energy Data Analyst
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