This offers no consolation to Alberta electricity consumers who have an abundance of natural gas within their borders, but European countries including Romania, Bulgaria, Austria, Germany, Denmark, France and the U.K who are suffering from potential gas shortages, all saw certain daily prices in August settle over 600 Euros/MW.
The heat of August 2022 in Alberta caused a re-pricing of risk with the market believing this scenario, or something akin to it, could hap-pen again. Prices for future terms are up dramatically as a result. From late July to late August 2022, power prices for the 2023 term rock-eted up 10%, and 8 %, for 2023 and 2024, respectively. In early September, this trend upward has continued.
Read Campus Energy’s market update for September here.