1. Market Moving News
Ontario Board Sees More Risk Than Gain in Energy East Pipe
TransCanada Corp.’s proposed Energy East pipeline will create more risk
than gain for Ontario, according to a study on the impact of the C$12 billion
($9.2 billion) oil conduit. While more than 40 percent of the pipeline will
cross Canada’s most-populous province, it was shown that it will only
produce modest economic benefits. The conversion of a natural gas line to
carry oil as part of the project has forecasted the price of gas in eastern
Ontario to rise an average of 12 percent in winter months from 2016 to
2035. However, according to TransCanada, Energy East is poised to displace
crude imports from other countries into eastern Canada, add C$15 billion to
the Ontario economy and create 4,200 jobs. The company said it would
examine the report and ensure its project is safe and provides economic
gains. The National Energy Board is assessing Energy East to make a
recommendation to the federal government, which has the authority to
approve or reject the line.
For the week ending August 14, 2015
Natural Gas
Storage
• • •
Working gas in storage was 2,977
Bcf as of Friday, August 7, 2015,
according to EIA estimates. This
represents a net increase of 65 Bcf
from the previous week. Stocks
were 521 Bcf higher than last year
at this time and 81 Bcf above the 5-
year average of 2,896 Bcf. At 2,977
Bcf, total working gas is within the
5-year historical range.
Drilling Rigs
• • •
The Baker Hughes report indicated
that for the week ending Friday,
August 14th
, 2015, the total US
rotary rig count was 884, the same
count from last week. Compared to
last year, there are 1029 less rigs
drilling for oil & gas. The rotary rig
count in Canada was 211, up 3 rigs
from last week. There are 190 less
rigs drilling for oil & gas in Canada
than this time last year.
Crude Oil Overview
• • •
Oil resumed its decline as U.S.
drilling increased and Iran said
OPEC production may rise to a
record after sanctions on the
country are lifted. WTI for
September delivery fell as much as
86 cents to $41.64 a barrel on the
NYMEX. Brent for October
settlement slipped 0.2 percent to
$49.11 a barrel on the London-
based ICE Futures Europe exchange
after earlier dropping as much as
1.7 percent.
NATURAL GAS OVERVIEW
Friday, August 14th, 2015, AECO same day price was down 5 cents averaging
$2.88 CAD/GJ. Last year around this time, AECO same day and near month
prices were higher, averaging $3.68 CAD/GJ and $3.74 CAD/GJ. Dawn same
day prices averaged $3.02 US/MMBtu and were higher at $3.89 US/MMBtu this
time last year.
This communication is for informational purposes only. It is not intended as investment advice, or an offer or solicitation for the purchase or sale of any of the
matters described herein. No market data or other information is warranted or guaranteed by Active Energy Inc., its subsidiaries and affiliates as to its
completeness or accuracy.
For more information please contact Moe Hajabed at 416-238-5540 ext. 222
You can also visit our website at www.activeenergy.ca
390 Brant Street, Suite 402
Burlington, Ontario L7R 4J4
TEL: 416-238-5540
FAX: 905-333-0982

2. ELECTRICITY IN ONTARIO
The Hourly Ontario Energy Price weekly average was
$21.08/MWh. The weighted average based on Ontario
demand since January 1st
, 2015 is $25.69 CAD/MWh.
WEATHER WATCH IN NORTH AMERICA
The National Weather Service’s 6 to 10 day outlook shows
above normal temperatures moving into the southeastern
states and remaining in the northeastern and southwestern
U.S. states. Cooler temperatures have remained in the
northwestern states. Wet conditions are expected mainly in
the eastern states as well as northern Alaska. On the map,
temperatures fall into three possible categories: below (B),
normal (N), or above (A).
Market Update
The summary below displays the natural gas positions traders have taken at the New York Mercantile Exchange for the
week ending August 11th
, 2015.
CFTC Commitment of Traders Report for week ending August 11th
, 2015
Each contract is equivalent to 2,500 MMBtu
Hourly Off-Peak Ontario Electricity Price CAD/MWh
Jul 29 – Aug 4 Aug 5 – Aug 11 Change
Average 24.09 15.46 -8.63
Max 371.76 82.22 -289.54
Min -4.50 -4.55 -0.05
Hourly On-Peak Ontario Electricity Price CAD/MWh
Jul 29 – Aug 4 Aug 5 – Aug 11 Change
Average 32.03 27.25 -4.78
Max 96.19 88.02 -8.17
Min 18.57 6.87 -11.70
Long Positions Short Positions Net Positions Net Positions Last
Week
Change in Overall
Positions
Producers / Merchants / Processors / Users 126,103 131,563 51.06% short 51.95% short -8.57%
Swap Dealers 205,400 16,647 92.5% long 92.91% long -1.52%
Money Managers 199,870 306,752 60.55% short 60.85% short -1.66%
Other Reportables 42,808 150,310 77.83% short 75.66% short -1.67%
NYMEX
The NYMEX September natural gas futures added
1.4 cents to settle at 2.801/MMBtu Friday, as the
market rebounded after Thursday's steep decline
CAD IS SOFT
CAD/USD (1.3137) - CAD is soft, down 0.3% into the start of the NA session with pressure driven by renewed weakness
in oil prices as WTI approaches last week’s lows under $42/bbl. Oil prices and relative central bank policy expectations
remain the primary focus for CAD, with the stabilization in 2Y U.S.-Canada yield spreads helping to offset the pressure
from fresh multi-year lows in oil.
This communication is for informational purposes only. It is not intended as investment advice, or an offer or solicitation for the purchase or sale of any of the
matters described herein. No market data or other information is warranted or guaranteed by Active Energy Inc., its subsidiaries and affiliates as to its
completeness or accuracy.
For more information please contact Moe Hajabed at 416-238-5540 ext. 222
You can also visit our website at www.activeenergy.ca
390 Brant Street, Suite 402
Burlington, Ontario L7R 4J4
TEL: 416-238-5540
FAX: 905-333-0982