Energy Market Update for October 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

Just when we were enjoying an usually warm fall, the first snow dump in Alberta arrived in October with temperatures taking a turn towards the end of the month! Without a doubt, winter is well on its way so it’s time to start preparing your home for winter and maximizing your energy efficiency during the cold months ahead. Here are a few simple tips on how to winterize a house to 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 60% since January 2023 to $2.52/GJ in October, 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 over the next few months.Learn more about the benefits of regulated natural gas and how its price is determined.

Market Update Natural Gas October

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 October is 20.48 cents/kWh whichis37% 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, competitive providers like our affiliate,Direct Energy, can provide you with fixed prices with no early exit fees, bundled rates, green energy, and other promotions.*

Market Update Electricity October

*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 October 2023.