One gigajoule of heat costs about $1.53 in gas from a 95 percent furnace at October 2026's regulated gas rate. The same heat from a heat pump at a COP of 3 costs about $11.12 in electricity at the 12.01¢ default rate, $7.68 at Bright Fire's 8.29¢ fixed rate, or $3.51 at our variable rate's September price of 3.79¢ (it changes monthly). Energy charge only; delivery, equipment and rebates change the full picture.
Gas is sold by the gigajoule (GJ) and electricity by the kilowatt-hour (kWh). To compare, work out what one GJ of heat in your house costs with each system:
Three columns per system: the regulated or default rate and Bright Fire's 1-year fixed rate for the same fuel (October 2026), then what Bright Fire's variable rate worked out to in September 2026, the latest full month. The variable price changes every month, up or down. COP 3 is a mild-weather figure; COP 2 is closer to a cold day.
| System | Regulated or default rate | Bright Fire 1-year fixed | Bright Fire variable, September 2026 (changes monthly) |
|---|---|---|---|
| Gas furnace, 95% efficient | $1.53 (regulated gas) | $4.62 (fixed gas $4.39) | $2.24 (gas about $2.13) |
| Gas furnace, 80% efficient | $1.82 (regulated gas) | $5.49 (fixed gas $4.39) | $2.66 (gas about $2.13) |
| Air-source heat pump, COP 3 | $11.12 (12.01¢/kWh) | $7.68 (8.29¢/kWh) | $3.51 (3.79¢/kWh) |
| Air-source heat pump, COP 2 | $16.68 (12.01¢/kWh) | $11.51 (8.29¢/kWh) | $5.26 (3.79¢/kWh) |
| Electric baseboard or space heater, COP 1 | $33.36 (12.01¢/kWh) | $23.03 (8.29¢/kWh) | $10.53 (3.79¢/kWh) |
Energy charge only. Delivery charges for gas (ATCO Gas or Apex Utilities) and electricity both have per-unit parts, and admin fees, municipal fees and GST are extra. Rates as of October 2026: regulated gas $1.458/GJ (default rate in ATCO Gas areas, Utilities Consumer Advocate; set monthly); Rate of Last Resort 12.01¢/kWh (Edmonton and FortisAlberta areas; 12.02¢ in ATCO Electric areas, 12.06¢ in Calgary and Red Deer), set through December 31, 2026; Bright Fire 1-year fixed natural gas $4.39/GJ ($250 early exit fee on fixed natural gas) and electricity 8.29¢/kWh. Bright Fire variable, September 2026: electricity Market + 0.85¢/kWh = 3.79¢ (AESO monthly average 2.94¢); natural gas Index + $0.85/GJ = about $2.13/GJ (monthly NGX Alberta index about $1.28/GJ). Variable prices change every month, up or down, and past prices do not predict future ones; your bill uses the monthly figures set by the licensed retailer. COP and efficiency figures are illustrative. Not a guarantee of savings.
Running a hybrid setup (heat pump in mild weather, furnace in deep cold) is common. Either way, both fuels come down to your rate per GJ and per kWh, so check both on the rate card.
Source: Natural Resources Canada, Heating and cooling with a heat pump; Utilities Consumer Advocate (Government of Alberta) cost comparison tool.
It turns on the rate you pay for each fuel. One GJ of heat from a 95 percent furnace costs about $1.53 in gas at October 2026's regulated rate, or about $2.24 on Bright Fire variable gas at September 2026's index. The same heat from a heat pump at a COP of 3 costs about $11.12 in electricity at 12.01¢/kWh, $7.68 at 8.29¢/kWh, or $3.51 at Bright Fire's September 2026 variable price of 3.79¢/kWh. On those numbers gas is cheaper unless your gas price is high and your electricity price is low. Delivery charges, cooling, equipment cost and rebates change the full picture.
Coefficient of performance: units of heat delivered per unit of electricity used. Natural Resources Canada says air-source heat pumps typically have a COP of 2.0 to 5.4 at 8°C, falling as the outdoor temperature drops. Electric baseboards have a COP of 1.
Down to a point. Natural Resources Canada notes most air-source heat pumps have a minimum operating temperature between -15°C and -25°C for newer models, below which a supplemental heat source (often the furnace or electric backup) has to take over. Cold climate models are designed to keep more capacity at low temperatures.
One gigajoule (GJ) equals about 277.78 kWh. Divide by the system's efficiency (furnace) or COP (heat pump) to get the fuel you buy for one GJ of heat, then multiply by your rate.
No. They are energy charge only. Both gas and electricity delivery have per-unit parts that add to the cost of each GJ or kWh, and GST applies to the whole bill.
Yes, in most of Alberta outside gas co-op areas. Each fuel has its own plan and admin fee. See the rate card for fixed and variable options on both.
See fixed and variable options for both fuels, or check what your own bill costs.
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