Weather Conditions in Alberta
Above average winter weather in January and February should have you feeling the warmth on your energy bills too. According to The Weather Network, both Calgary & Edmonton’s nighttime temperatures continue to be above the historical average and the daytime temperatures at the beginning of the month were higher than average as well. However, the second half of February will be closer to average temperatures with more snow coming our way. While we’ve been enjoying a reprieve from extreme winter weather since early February, nearly half of the Calgary & Edmonton’s seasonal snowfall has yet to arrive.
Electricity Prices in Alberta
As part of Alberta’s Affordability Action Plan, a temporary 13.5 ¢/kWh rate cap on the regulated rate option (RRO) for electricity has been implemented from January – March 2023 to protect Albertans from rising electricity costs.
Electricity prices continue be extremely volatile, resulting in the actual monthly RRO for DERS in February to be 32.672 ¢/kWh. The cost difference between the RRO electricity rate and the 13.5¢/kWh cap in January, February and March, will be deferred and spread over future months. Learn more about this temporary rate cap.
The Government of Alberta has also extended the monthly electricity rebate until April 2023. In February, a credit of $75 will be automatically applied to your bill if you qualify. View the electricity rebate payment schedule.
If you’re looking for longer term rate stability, competitive providers like our sister company, Direct Energy, can provide you with fixed prices with no early exit fees, bundled rates, green energy, and other promotions.*
Download historical electricity rates
Natural Gas Prices in Alberta
While electricity rates continue to remain at an all-time high, the cost of natural gas has finally started to drop due to lower demand with warmer than usual weather in Alberta. The February natural gas rate decreased 42% from $6.446/GJ in January to $3.715/GJ, making it lower than competitive gas plans available in the market today. Natural gas rates are forecasted to decrease further and continue to stay low over the next few months.
Since the highest default natural gas rate in February is below $6.50/GJ, the natural gas rebate wasn’t triggered this month. However, price protection from the natural gas rebate is still in place until March 2023.
If the regulated rate for natural gas increases above $6.50/GJ, the government will provide an automatic rebate covering the difference in what has been consumed. Find out how it works.
Download historical natural gas rates
*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).