What Happens When Your Fixed Energy Term Ends? (And How the Prudential Deposit Works)
Short answer: you get at least 30 days’ notice. If you do nothing, you renew on our lowest fixed rate available at that time that you qualify for. You can switch plans or leave instead, and there is never an exit fee. If you paid a prudential deposit, it keeps earning 5% and comes back to you when your plan ends.
This page explains our own terms in plain language. It is based on the Get Energy / UTILITYnet Energy Agreement Terms and Conditions, effective July 1, 2026. Your expiry date is printed on every monthly invoice and in your My Account portal. Last updated September 22, 2026.
1The timeline, start to finish
| When | What happens | What you need to do |
|---|---|---|
| Throughout your term | Your expiry date is shown on every invoice. | Nothing. |
| At least 30 days before expiry | We send you a notice of the upcoming expiry date, along with the plans you can move to. | Read it and decide whether the renewal plan suits you. |
| Expiry date | If you have not chosen anything else, your agreement renews for a new term on the lowest applicable fixed rate. | Nothing, unless you want a different plan. |
| Any time, before or after renewal | You can change plans or cancel. | Submit a rate change or cancellation form in My Account. Cancelling takes 10 business days’ notice. |
2Which rate you renew onto
Under section 11 of our terms, the renewal plan is the lowest fixed (Stable) electricity, natural gas or Dual Fuel rate available at the time of renewal that you and your site qualify for. It is not a penalty rate or a default rate.
- It follows the market. Fixed rates are set by forward energy prices, so your renewal rate could be higher or lower than the rate you are leaving. That is why the 30-day notice matters.
- Promotional rates are for new sites only. A site that already gets service from us cannot renew onto a Promotional rate. It renews onto the lowest regular fixed rate instead.
- If no fixed rate applies, the agreement renews onto the variable rate.
- The administration fee on renewal is whatever is posted for your new plan at that time. Existing customers get at least three months’ notice before any change to the fee itself.
If you would rather have something else, such as a different term, the variable rate, or a Base plan with no deposit, you can choose it instead of the automatic renewal.
3Your four options at the end of a term
- Let it renew. You don’t need to do anything. You move to the lowest fixed rate you qualify for.
- Pick a different fixed term. Submit a Rate Option Change Request in My Account. Approved changes take effect after your next monthly meter read.
- Go variable. Variable plans have no term: you pay the market price plus a transaction fee, month to month.
- Leave. Give 10 business days’ notice through the cancellation form. There is no penalty at the end of a term, or at any other time.
Renewing does not lock you in. Section 11.6 of our terms keeps your right to change plans or cancel without penalty throughout the renewal term.
4The prudential deposit, explained
Alberta’s regulators and the electricity and gas distribution companies require every licensed retailer to post security against the energy its customers use. A retailer can cover that cost for you and build it into a higher rate. Or it can let you post the security yourself in exchange for a lower rate. The prudential deposit is that second option.
| Question | Answer |
|---|---|
| Which plans need it? | Discount Advantage plans (fixed) and variable plans. Base plans need no deposit and have a slightly higher rate instead. |
| How much? | Our standard deposit is $200 per electricity site and $100 per natural gas site, capped at roughly two times your average monthly bill. If that amount is a concern, ask us and we can review it. It can be adjusted later if your usage changes a lot. |
| When is it taken? | It is debited from your bank account after your site is enrolled, not when you apply. |
| Does it earn anything? | Yes: 5% per year, calculated monthly and credited on your bill from your second invoice onward. If the interest reaches $50 or more in a calendar year, you receive a T5 slip. |
| Do I get it back? | Yes. When your plan ends or you leave, it is refunded in full, minus any balance you still owe. If you renew onto a plan that also needs a deposit, the one you paid carries over. |
| Is it a fee? | No. It stays your money and it is not forfeited if you leave. |
Base or Discount Advantage? If you would rather not have money set aside, choose a Base plan and pay a slightly higher rate. If you are comfortable posting the deposit, the Advantage plan gives you the lower rate, and the deposit earns 5% while it is held.
Is your term ending soon? Your expiry date is on your latest invoice. If you’d like help choosing between renewing, a different term or variable, text or call us at (780) 665-4771. Not with us yet? Our free Bill Check compares your current bill with our plans and tells you plainly whether switching would save you money.
Frequently asked questions
What happens when my Get Energy fixed rate expires?
At least 30 days before your expiry date you get a notice with your plan options. If you do nothing, your agreement renews on the lowest fixed rate available at that time that you and your site qualify for. You can pick a different plan or leave instead, with no exit fee.
Will I be moved onto a higher rate when my term ends?
You renew on the lowest applicable fixed rate on offer at renewal time, not a penalty rate. It can be higher or lower than your old rate because fixed rates follow the market. Promotional new-customer rates are not available for renewals.
Can I leave Get Energy when my term ends?
Yes, at the end of your term or at any other time. Give 10 business days’ notice through the My Account portal. There is no cancellation or exit fee on any Get Energy plan.
What is a prudential deposit?
It is refundable security that Alberta’s regulators and distribution companies require energy retailers to post. On Discount Advantage and variable plans you post it yourself in exchange for a lower rate. It earns 5% interest a year and is refunded when your plan ends, less anything you still owe.
How much is the prudential deposit and when is it taken?
Our standard deposit is $200 for each electricity site and $100 for each natural gas site, capped at roughly two times your average monthly bill. If that amount is a concern, ask us and we can review it. It is debited from your bank account after your site is enrolled, not when you apply.
Do I have to pay a prudential deposit?
No. Base plans have no deposit and a slightly higher rate. Discount Advantage plans and variable plans carry the deposit and a lower rate. You choose.
Do I get my prudential deposit back if I renew?
If your renewal plan also needs a deposit, the one you already paid carries over. When your plan finally ends or you leave, it is refunded in full, minus any outstanding balance.
Sources
- Get Energy / UTILITYnet Energy Agreement Terms and Conditions, effective July 1, 2026: section 2.3 (Prudential Payment), 2.4 (Administration Fees), 2.5 (Switching Rates), 10.3 (expiry notice), 11 (Renewal), 12.1 (Cancellation) and Schedule C (interest rate). Retrieved September 22, 2026.
- Get Energy plan list, showing which plans carry a prudential deposit. Retrieved September 22, 2026.
Get Energy is a competitive retailer offering electricity and natural gas services for residential, small business, and farm consumers across Alberta. Get Energy is a tradename of Utility Network & Partners Inc.
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