2024 electricity market report highlights better grid capacity, lower prices in Alberta
The Alberta Electric System Operator (AESO) has released its 2024 Annual Market Statistics report, which found that for the first time since 2016, Alberta was a net exporter of electricity.
Last year, more than 3,000 megawatts (MW) were added to the grid, growing Alberta’s total installed generation capacity by more than 11 per cent (from 20,777 MW to 23,122 MW), the report says.
This growth then saw average electricity pool prices drop by 53 per cent, from $133.63/MWh to $62.78/MWh. Additionally, AESO found that natural gas prices dropped by 49 per cent, from $2.55/gigajoule to $1.30/gigajoule.
“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,” commented Chantelle de Jonge, parliamentary secretary for affordability and utilities.
