Energy Market Update for November 2023

Fall aerial view of the bow river and downtown Calgary

These are the key factors that affect the rates and fees on your energy bill every month:

Weather conditions in Alberta

It’s been an unusually warm November for most of Alberta with temperatures hitting above average! The good news iswhich means warmer weather and less snow in Alberta this winter. You will still need to prepare your home for the colder months ahead. Here are afew simple tips on how to winterize a houseto make your home comfortable and energy-efficient during the winter.

As your heating usage increases in fall and winter, you will start to notice a higher gas bill.

Did you know that the transmission and distribution charges on your energy bill are affected by weather changes too?Learn more about the transmission and distribution fees and how it works.

Natural gas prices in Alberta

Direct Energy Regulated Services’ natural gas rate has decreased by 55% since January 2023 to $2.85/GJ in November which is lower^ than fixed rate options that are currently available. There’s no better time than now to be on regulated natural gas!

The cost of natural gas has dropped due to lower demand with warmer than usual weather. And best of all, natural gas rates are forecasted to continue to stay low throughout winter.Learn more about the benefits of regulated natural gas and how its price is determined.

Electricity prices in Alberta

The temporary 13.5 ¢/kWh rate cap on the regulated rate option (RRO) for electricity ended in March. From April 2023 through December 2024, the cost difference between the RRO electricity rate from January - March 2023 and the 13.5¢/kWh cap will be added to the current RRO to help recover costs.

Direct Energy Regulated Services’ electricity rate in November is 19.83 cents/kWh whichis38% lower than the all-time high in August. However, the RRO is forecasted to remain high until February 2024.

If you’re looking for longer-term rate stability, wehave with no early exit fees, bundled rates, green energy, and other promotions.*

*Customers are free to purchase natural gas services or electricity services from a retailer of their choice. For a list of retailers, visitor call310-4822(toll-free in Alberta).

^Direct Energy Regulated Services' natural gas rate is lower than all other retailers’ natural gas rates plus transaction fees available in November 2023.