(R)Evolution 2009-2050: Transforming Energy

Alberta power market ● Demand in 2021 shows full recovery from impacts of COVID-19 and low oil prices Significant reductions in supply (retirements of Sundance 3, Keephills 1, Sundance 4 in Apr/22; Sundance 5 repowering suspended, and delays on some cogen and renewable projects) · Demand expected to modestly increase year-over-year Robust market with average power price of $102/MWh in 2021; 2022 forward prices ~ $90/MWh

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