Alberta’s weighted average Power Pool Price for June is currently $137.78/MWh. Relative to last week’s price of $136.64/MWh, this is a marginal increase of $1.14/MWh or 0.8%. Hourly demand also rose, by 83MW or 0.9%, but volatility on the 16th and 17th was the main cause of the uptick in monthly pricing. The average 2-day price was $255.30/MWh, with daily price settlements of $373.40/MWh and $138.82/MWh, respectively. Outages at Keephills 2, Battle River 4 and Path 2 intertie, as well as minimal renewable generation, also contributed to elevated pricing earlier in the week. Pricing from the 18th to-date averaged only $94.16/MWh.
The weighted average Hourly Ontario Energy Price (HOEP) is settling at 3.0¢/kWh so far for the month of June, representing a 0.2¢/kWh or 6.6% increase over last week’s settle. Increased use of demand response generators, which are typically natural gas-burning and expensive, drove pricing up. Natural gas-burning supply increased by 11.9% (813MW) over the course of this past week. Baseload generation such as nuclear picked back up, increasing its output to an average of 9,615MW, a 6.18MW or 0.1% increase compared to last week. Hydro-based generation, on the other hand, decreased output, falling 1.7% to an average of 4,645MW. Wind, solar, and biofuel increased week-over-week output (+18.4%; 1,179MW, +7.1%; 115MW, +0.3%; 11MW, respectively). With the first Global Adjustment estimated at 8.3¢/kWh, June’s total market price is settling at 11.3¢/kWh as of today.
– Mark Ljuckanov, Energy Advisor / Ryan Cosgrove, Energy Data Analyst
Add comment