Alberta’s electricity grid is growing stronger while power prices are dropping, according to the Alberta Electric System Operator’s (AESO) 2024 Annual Market Statistics report.
The province added more than 3,000 megawatts (MW) to the grid in 2024, increasing total generation capacity by 11 per cent. This expansion helped cut average electricity pool prices by 53 per cent.
Prices went from $133.63 per megawatt-hour (MWh) to $62.78 per MWh. Natural gas prices also fell by 49 per cent, from $2.55 per gigajoule to $1.30 per gigajoule.
Read more: Alberta gives electrifying encouragement
“Last year saw an incredible amount of new generation come online and the results speak for themselves: our grid is stronger, and electricity prices are at their lowest in years,” said Chantelle de Jonge, parliamentary secretary for affordability and utilities.
For the first time since 2016, Alberta became a net exporter of electricity. The government says this marks a key step toward a more stable and sustainable power system.
“Electricity powers more than homes — it supports the livelihood and well-being of Albertans and their families,” said Nathan Neudorf, minister of affordability and utilities. “Our government is committed to ensuring Albertans have access to reliable power when and where they need it, and at a price they can afford.”
The AESO report highlights the province’s efforts to balance reliability with affordability. While long-term market reforms continue, Alberta has already taken steps to protect consumers. These include preventing power-price spikes and stabilizing local access fees. Additionally, they shield Albertans from high heating costs and giving consumers more options to find the best rates.
Alberta’s government says these policies will help families, businesses and communities rely on a steady, affordable power supply now and in the future.
Read more: $8 billion in power savings for Albertans
