The short version: forward prices for Alberta power in 2027 and 2028 are at the lowest levels
the market has seen, and that is why a one-year fixed rate of 6.57¢/kWh currently sits below our
own variable 30-day average of 6.76¢/kWh. Buying certainty has rarely been this cheap. That is not
the same as a promise that prices will rise.
Rates from the Get Energy live rate sheet, electricity calculated September 14, 2026, natural gas calculated
September 7, 2026. Wholesale data from AESO. Forward-price context from Dynasty Power’s September 2026 market
update. Published September 18, 2026.
What a forward price is, and why you should care
When a retailer quotes you a fixed rate, it is not guessing. It is buying power for your future months
on the forward market — contracts for delivery in 2027, 2028 and beyond — and adding its costs
on top. So the price of a fixed contract today is mostly a reflection of what the wholesale market thinks
those years are worth.
Right now the market thinks they are worth very little. Dynasty Power’s September 2026 update,
circulated to Alberta retailers, reports 2027 and 2028 forward prices at the lowest levels it has recorded,
with both years having traded near $80/MWh at the start of 2026. When the forward curve falls, fixed retail
offers follow it down.
Where that leaves the numbers
| Option | Rate | Energy cost at 600 kWh/month |
|---|---|---|
| Variable — 30-day average | 6.76¢/kWh | about $40.56 |
| Variable — 13-month average | 5.91¢/kWh | about $35.46 |
| Fixed — 1 year | 6.57¢/kWh | about $39.42 |
| Fixed — 2 year | 7.97¢/kWh | about $47.82 |
| Rate of Last Resort (default) | 12.01–12.06¢/kWh | about $72.12 |
Two readings, and they genuinely point different ways. Against this month’s floating average, the
one-year fixed rate is a fraction cheaper. Against the last 13 months of floating, it costs about
0.66¢/kWh more — roughly $48 a year on a 600 kWh home. That $48 is the price of knowing your
rate through next winter, and it is the narrowest that gap has been in over a year.
What the wholesale market is actually doing
In the week of September 11 to 17, 2026 the Alberta pool price averaged $37.22/MWh with a median hour
of $24.98/MWh, and the 30-day average sat at $45.95/MWh. Cheap, but firmer than the summer. The
highest single hour in that week still cleared $715.78/MWh, which is the thing a fixed rate protects you
from: not the average, the outliers.
spike. Nobody knows. What we can show you is the price of insurance today, and it is close to free.
The demand side is changing
The same update puts weather-corrected Alberta load growth at roughly 200 to 300 MW a year
before the data-centre ramp, with data-centre grid connections beginning in late 2026 and
accelerating from 2028. The AESO’s Restructured Energy Market is scheduled to cut over in the second
quarter of 2028. More demand arriving faster than new supply raises the risk of expensive hours in the
back half of the decade. Risk, not certainty.
We track all of this every Monday in the
Alberta Energy Market Report.
What about natural gas?
Different answer. Our fixed gas rate is $3.77/GJ while the variable 30-day average is $3.61/GJ and
the 13-month average is $3.07/GJ (calculated September 7, 2026). Locking gas today means paying a real premium for
certainty rather than matching the market, so we would not push it. Gas is where the seasonal argument
lives: consumption is concentrated in winter, so a household that wants a predictable heating season has a
reason beyond price.
If you are on the default rate, none of this is the interesting question
The Rate of Last Resort is 12.01 to 12.06¢/kWh through December 31, 2026. Against a one-year fixed
rate of 6.57¢/kWh, that is roughly 45 per cent more for the same electricity. If that is you, the
decision is not fixed versus variable — it is leaving the default rate at all. Details on
how the Rate of Last Resort works.
Three questions worth answering before you lock
- Would a $150 surprise in January hurt? If yes, a term is worth buying.
- Are you staying put for a year? If you might move or sell, there is less reason to
take a term, though with us there is no cancellation fee either way. - Do you want to think about this again? A one-year term buys you a year of not
checking. That is a legitimate reason to choose it.
Want it checked against your own bill rather than a table? Send a photo through
Bill Check and we will compare your rate, fees and usage
line by line, whether or not you switch. The fuller comparison lives on
fixed vs variable electricity
rates in Alberta.
Frequently asked questions
Why are Alberta forward power prices low in 2026?
Alberta has added a lot of wind and solar capacity while demand growth has been steady rather than sudden, so wholesale prices have been soft. Dynasty Power’s September 2026 market update reports 2027 and 2028 forward prices at the lowest levels it has recorded, both having traded near $80/MWh at the start of 2026. Retail fixed rates are priced off those forward contracts, which is why fixed offers are unusually competitive.
Does a low forward price mean electricity will get cheaper?
No. A forward price is what buyers and sellers agree today for delivery later. It is a market view, not a forecast that comes true. What a low forward curve does mean is that buying a fixed price for next year is cheap right now — 6.57¢/kWh for one year, against a variable 30-day average of 6.76¢/kWh as of September 14, 2026.
Should I switch from variable to fixed?
Only if predictability is worth something to you. Over the last 13 months Get Energy’s variable rate averaged 5.91¢/kWh, below the one-year fixed rate of 6.57¢/kWh. On today’s 30-day average the fixed rate is slightly cheaper. The honest summary: fixed currently costs almost nothing extra, and it removes the risk of a bad winter month.
Sources
- Dynasty Power Inc. — Market Update, September 2026, circulated to Alberta retailers. Forward prices for 2027 and 2028, weather-corrected load growth, data-centre interconnection timing and Restructured Energy Market dates. Received September 18, 2026.
- AESO market and system reporting — hourly pool price for the week to September 17, 2026, retrieved September 18, 2026.
- Utilities Consumer Advocate — default rates — Rate of Last Resort at 12.01 to 12.06¢/kWh to December 31, 2026.
- Get Energy live rate sheet — electricity calculated September 14, 2026, natural gas calculated September 7, 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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