If you currently live in Alberta, you probably know that a lot has happened in the province’s electricity market in recent years: from the elimination of coal-powered electricity in 2024, to high volatility of the RRO, leading to a price cap last winter and a later peak of 32 cents per kWh at its apex. As a result, the volatility of electricity has made the news numerous times. But at the end of the day, the average consumer wants to know what this news might mean for their home energy bills.
In times of energy upheaval, the best you can do to avoid volatility is to make your budget as stable as possible. The obvious decision would be to find out how to cut costs at home. Indeed, there are many possibilities to reduce your overall consumption. Still, what can we do to keep Alberta energy bills under control even in times of volatile prices?
We’ve got some tips to help you keep your Alberta energy bills stable and avoid bad surprises at the end of each month. From governmental programs to cost-comparison tools, there are various ways for you to reach cost certainty with your utility bills in 2025.
Fixed-rate natural gas and electricity plans
Variable or fixed rates? The age-old question is quite easy to answer if you’re looking for price stability.
Alberta’s deregulated market allows consumers to choose not only from a range of energy providers but also from a number of energy plans. Most consumers can choose between fixed, variable (also known as floating) or the rate of last resort (ROLR), formerly known as the regulated rate option (RRO).
For people who are looking for stability, fixed rates can be the best option. Whether for electricity or natural gas, fixed-rate plans allow you to lock your energy rates in a guaranteed price for the duration of your contract (generally, the most common options are one, three or five years). Such a plan will let you know what to expect from your energy bills every month, and will help you avoid inconvenient surprises.
Once you’ve secured fixed energy rates, it will become easier for you to plan your expenses related to electricity and natural gas, no matter what happens in the Alberta energy market. Most of the competitive energy suppliers in Alberta offer customers this option, including Spot Power, ATCOenergy, EasyMax by ENMAX, Encor by EPCOR and Direct Energy.
Compare energy rates and providers in Alberta
Have you ever thought about changing your energy supplier? If you’re not happy about your monthly energy bills, or aren’t satisfied by the service brought by your electricity and natural providers, perhaps it’s time to start an “energy audit” at home. In other words, maybe you should find which suppliers are available in your area, research their plans and compare energy rates.
It can be surprisingly easy to change your gas and electricity providers, whether at home or for your business. At EnergyRates.ca, you can find the best available energy prices in your area. All you have to do is go to the cost-comparison website and follow some simple steps.
- Enter your postal code.
- Select which product you want to compare (electricity or natural gas).
- Select if you’re looking for residential, commercial or industrial rates.
EnergyRates.ca lists the cheapest available rates for both residential electricity and natural gas. Commercial customers, however, are eligible for custom quotes based on their energy needs. If you’re looking for a natural gas or electricity comparison for businesses, you just need to click on “Get Rates” to find out how you can sign a contract with the ideal energy retailer for your business.
The Rate of Last Resort
Perhaps the biggest change of 2024 was the government of Alberta’s amendments to the regulated rate option, or what is now known as the Rate of Last Resort (ROLR). Previously, the regulated rate was set month-to-month, but the new rate of last resort will be in place for two years, starting in January 2025, and lasting until end-of-year 2026.
This new rate is designed to force more Albertans to switch to competitive fixed or floating rate plans, and has a built-in mechanism to ensure providers of electricity on the ROLR are reminding Albertans if they switched to a fixed or floating rate. One of the easiest ways you can ensure you are not paying more for electricity in 2025 is to sign a fixed-rate contract at a better rate than what will be offered by the ROLR (12.06 cents per kWh)
Programs to make electricity more affordable
Right now, there are not many incentives for Albertans to reduce the price of their energy costs. However, more might be on the horizon. For example, an addition to the Greener Homes Initiative was announced in Budget 2024 called the Canada Greener Homes Affordability Program (CGHAP).
This strategy is an $800 million program designed to help Canadians who make a low-to-median income (including renters) reduce their energy bills by supporting the direct installation of energy-efficient retrofits for their homes. While many of the other incentives of the Greener Homes Initiative have come and gone, CMHC’s Greener Homes Loan program can still provide interest-free loans (up to 40k) for energy efficient retrofits for your hone.
For more incentives that may be available to you, check out guide on renewable energy incentives here.
