Alberta's power grid has experienced a significant boost in reliability and affordability, thanks to a substantial increase in generation capacity.
According to the 2024 Annual Market Statistics report by the Alberta Electric System Operator (AESO), the province's efforts to reform the electricity market are paying off.
In 2024, more than 3,000 megawatts (MW) were added to the grid, growing Alberta's total installed generation capacity by more than 11%. This growth led to a 53% drop in average electricity pool prices, from $133.63/MWh to $62.78/MWh, and a 49% decrease in natural gas prices, from $2.55/gigajoule to $1.30/gigajoule.
For the first time since 2016, Alberta became a net exporter of electricity.
"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.
The AESO's report highlights the importance of balancing reliability with affordability, reaffirming the need for Alberta's government to modernize the electricity system.
Minister of Affordability and Utilities Nathan Neudorf emphasized the government's commitment to ensuring Albertans have access to reliable power at an affordable price. "Electricity powers more than homes — it supports the livelihood and well-being of Albertans and their families," he said.
