Why have electricity rates in Alberta decreased?

According to the Alberta Electricity System Operator (AESO), in 2024, Alberta added over 2,700 megawatts of new natural gas-fired power to its grid, which is the largest addition of natural gas-fired power to Alberta's grid in a single year! The increased availability of natural gas enhances our grid's capacity and reliability, contributing to overall lower electricity prices for Albertans.

Due to previous price spikes, the Government of Alberta worked with Alberta Electric System Operator (AESO) to implement two interim regulations to mitigate market manipulation and enhance competition, which will help reduce electricity costs for Albertans. These regulations include limiting the offer price of natural gas generating units owned by large generators and requiring certain generating assets to be available during peak demand periods. These steps are designed to prevent an artificial inflation of electricity prices.

Should I still choose a fixed-rate electricity plan?

Now that electricity prices in Alberta have stabilized, it's a great time to lock in at a low rate which you can hold onto for the next 5 years. By signing up for a fixed rate, you can avoid future market volatility and enjoy rate stability for as long as you need it.

Plus, we have no enrollment or exit fees. So that means that when rates drop below your fixed rate, you can always switch to a floating rate plan and take advantage of that lower rate.

But when you're paying a fixed rate every month, you don't have to worry about any surprises! Nothing beats peace of mind.