October 26th, 2020

Cold weather leads to spike in power demand, prices

By Medicine Hat News on January 14, 2020.

Power demand and prices across Alberta spiked on Monday as cold weather blanketed the province.

Medicine Hat’s power plant was exporting power throughout the day, capturing grid prices of up to $941 per megawatt hour – compared to $54 overnight Sunday – according to the Alberta Electric System Operator.

Supply and demand figures show that prices rose dramatically after 6 a.m. to $600, then remained high throughout the dinner hour.

Alberta’s deregulated “energy only” market allows the prices to go as high as $1,000 per megawatt hour to entice generators to meet demand.

Provincial load flirted with an all-time winter season record on Sunday evening, recording 11,650 MWh at 4 p.m., about 47 MWh fewer than the standard set on Jan. 11, 2018.

Internal to the City of Medicine Hat, the utility recorded production of 216 megawatts in the afternoon with another 25 dispatched to meet provincial need at grid prices.

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