For the week of November 2nd and November 9th, Alberta’s daily temperature-adjusted load differential surged last week as there continued to be signs of sustained (and growing) strength in residential and commercial sectors at the same time that most oil sands outages have been completed, including the restart of Suncor’s Fort Hills’ second train. The trend of sustained strength across all sectors is expected to continue as Albertans work towards returning a semblance of normalcy to their lives and, on the industrial front, improved/stable oil prices lead various oil producers to restart shut-in production, with most facilities online.
For the week of November 16th, Alberta’s daily temperature-adjusted year-over-year load differential remained strong throughout the first part of the week, but then faltered from additional industrial outages. On balance, sustained strength across sectors is expected to continue, unless the provincial government decides to force an extended lockdown on the province in order to constrain rising cases of COVID-19.
For the week of November 23rd, Alberta’s daily temperature-adjusted year-over-year load differential continued to show signs of improvement, maintaining its positive year-over-year trajectory. Strength is expected to be sustained across sectors unless the provincial government decides to force an extended lockdown on the province in order to constrain rising cases of COVID-19.
The information above is derived from the Electricity SMP Predictions (ESP) forecast report. EDC Associates Ltd. releases weekly updates and forecasts that monitors the Alberta Electricity market.
