Depending on where you live in Alberta, you’re likely to have two options when buying electricity and natural gas. You can choose to default to the regulated rate (e.g. market-based monthly rate) or you can choose a fixed or floating rate plan. While not all energy needs are equal, our deregulated energy market in Alberta provides energy consumers with a unique opportunity to take advantage of both regulated and competitive rate plans depending on how the energy market is performing.

*Customers are free to purchase natural gas services or electricity services from a retailer of their choice. For a list of retailers, visit ucahelps.alberta.ca or call 310-4822 (toll free in Alberta).

Benefits of fixed rates

While electricity prices hit all-time highs in Alberta in 2023, it has stabilized now and is forecasted** to remain low for the rest of 2024. Learn more about what affects electricity market pricing.

Regardless, you have the power to choose the energy option that works best for you and your home. If price stability, multiple term options, and special promotions are appealing to you, then a fixed-rate electricity or natural gas plan might be a better energy option for you! With a fixed rate, you are charged the same amount of money for each kilowatt-hour (kWh) of electricity or unit of natural gas gigajoules (GJ) you use.

Energy consumption typically varies based on the season, but if you usually use a predictable amount of energy each month, a fixed-rate plan can make it very easy to budget. For example, if you secure a fixed rate for five years, you’re likely to pay nearly the same amount five years from now. In some instances, the rate you lock in may be a little bit higher than the current floating rate, but this option could protect you from unexpected events that could affect the market rate over time.

**The forecast is based on the current forward wholesale electricity price curve on March 20, 2024.