ENMAX names the City of Calgary as its sole shareholder; EPCOR names the City of Edmonton. ATCO’s gas and electric utilities belong to Canadian Utilities, controlled by ATCO Ltd. Direct Energy is part of NRG Energy. FortisAlberta belongs to Fortis Inc. Both city-owned companies pay their city a dividend.
| Company | What it does on your bill | Owner | Public or city-owned | Source and date |
|---|---|---|---|---|
| Apex Utilities | Pipes and default gas rate | Owner not confirmed on a primary page on 2026-10-30 | Not confirmed | Apex Utilities, 2026-10-30 |
| ATCO Electric | Wires | CU Inc., owned by Canadian Utilities; controlled by ATCO Ltd. | Publicly traded Canadian Utilities | Canadian Utilities, 2026-10-30 |
| ATCO Energy | Competitive plans | ATCO Ltd. | Corporate parent | Canadian Utilities, 2026-10-30 |
| ATCO Gas | Pipes | CU Inc., owned by Canadian Utilities; controlled by ATCO Ltd. | Publicly traded Canadian Utilities | Canadian Utilities, 2026-10-30 |
| Direct Energy | Competitive plans | NRG Energy | Corporate parent | Direct Energy, 2026-10-30 |
| Direct Energy Regulated Services | Default rate in its areas | Direct Energy business, part of NRG Energy | Corporate parent | Direct Energy, 2026-10-30 |
| Easymax | ENMAX’s Easymax plans | ENMAX brand; City of Calgary owns ENMAX | City-owned parent | ENMAX, 2026-10-30 |
| Encor by EPCOR | EPCOR’s competitive plan brand | EPCOR brand; City of Edmonton owns EPCOR | City-owned parent | EPCOR, 2026-10-30 |
| ENMAX | Wires, default rate and competitive plans through its businesses | City of Calgary | City-owned | ENMAX, 2026-10-30 |
| EPCOR | Wires, default rate and competitive plans through its businesses | City of Edmonton | City-owned | EPCOR, 2026-10-30 |
| FortisAlberta | Wires | Fortis Inc. | Corporate parent | FortisAlberta, 2026-10-30 |
City-owned means the city holds the shares. Publicly traded means shares are listed on a stock exchange. A corporate parent is a company that owns another business.
For each name’s role and service area, see who does what on your bill.
Is ENMAX owned by the City of Calgary?
ENMAX is owned by the City of Calgary, says ENMAX. The city is its sole shareholder. ENMAX pays the city a dividend from its business. ENMAX says it gets no funding from the city. City ownership tells you who holds the shares, rather than which plan you have.
ENMAX does not receive funding from the City of Calgary. (read 30 October 2026) [source] ENMAX declares and pays dividends to the City of Calgary. (read 30 October 2026) [source] Easymax is the name on ENMAX’s Easymax plans.
Is EPCOR owned by the City of Edmonton?
EPCOR is owned by the City of Edmonton, says EPCOR. The city is its sole shareholder and receives a dividend. Encor by EPCOR is its competitive plan brand. The owner and the plan brand tell you different things. Read your plan terms to see how your energy price is set.
EPCOR’s fourth-quarter results give the city’s dividend for 2025 as $201 million (read 30 October 2026) [source]. The announced dividend for 2026 is $206 million (read 30 October 2026) [source].
Who owns ATCO Gas, ATCO Electric and ATCO Energy?
ATCO Gas and ATCO Electric belong to Canadian Utilities, while ATCO Energy sits directly under ATCO Ltd., per Canadian Utilities. The gas and electric utilities sit within CU Inc. Canadian Utilities owns CU Inc. ATCO Ltd. controls Canadian Utilities. The shared ATCO name covers both utility and retail businesses.
CU Inc. is wholly owned by Canadian Utilities. (read 30 October 2026) [source] ATCO Gas and Pipelines Ltd. and ATCO Electric Ltd. are wholly owned by CU Inc. (read 30 October 2026) [source] The MD&A reports ATCO’s share of Canadian Utilities as 52.4% (read 30 October 2026) [source].
Canadian Utilities sold its entire investment in ATCO Energy Ltd. to ATCO Ltd. on 1 August 2024. (read 30 October 2026) [source]
Emera announced an agreement to buy ATCO and Canadian Utilities on 6 October 2026. The agreement is pending and has not closed. Closing is expected in the third or fourth quarter of 2027. The companies continue to operate independently until closing. (read 30 October 2026) [source]
Are Direct Energy and ENMAX the same company?
Direct Energy and ENMAX are separate firms, say Direct Energy and ENMAX. Direct Energy is part of NRG Energy. ENMAX’s sole shareholder is the City of Calgary. A shared role on your bill does not mean the firms share an owner. Read the provider name and the plan terms.
Direct Energy became part of NRG Energy in 2021. (read 30 October 2026) [source] Direct Energy acquired the Alberta retail businesses of ATCO Gas and ATCO Electric in 2004. (read 30 October 2026) [source] That was a retail business purchase, rather than ownership of ATCO’s pipes and wires.
Does ownership change what I pay?
Ownership does not change what you pay for delivery at your address, says the Alberta Utilities Commission. The AUC approves the delivery tariff. Your energy price depends on your plan. A switch of retailer does not change the wires or pipes serving your home. Check both parts of the bill.
The AUC determines transmission and distribution rates. Delivery charges do not change between retailers at a given site. (read 30 October 2026) [source] The AUC reviews gas transmission and distribution costs and approves prudent costs for customer bills. (read 30 October 2026) [source] See transmission, distribution and riders for the delivery lines.
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Questions people ask
Is EPCOR a Crown corporation?
EPCOR is a city-owned corporation, per EPCOR’s shareholder page. The City of Edmonton is its sole shareholder. That is the ownership fact to use when you read your bill. City ownership describes who holds the shares. Check the plan terms as well as the name on the bill.
Is ATCO Energy the same as ATCO Gas?
ATCO Energy and ATCO Gas have different roles and owners within the ATCO group, per Canadian Utilities. ATCO Energy sells plans and sits directly under ATCO Ltd. ATCO Gas delivers gas through pipes. Its parent is CU Inc., which belongs to Canadian Utilities. The shared name does not make the roles the same.
Who owns Direct Energy Regulated Services?
Direct Energy Regulated Services is the Direct Energy business that supplies the default rate in its areas. Direct Energy says it is part of NRG Energy. The sources checked here do not confirm a separate legal entity for the regulated business. Read the full provider name on your bill to tell its role.
Does the City of Calgary profit from ENMAX?
The City of Calgary receives dividends from ENMAX, according to the ENMAX shareholder page. The city is its sole shareholder. ENMAX publishes a table of dividends declared and paid to the city. That describes a payment to its owner. It does not show what any one home pays for power.
Sources
Written by the BillRobin team. Updated .
Show the 10 sources
- Alberta Utilities Commission: Current electricity rates and terms and conditions
- Alberta Utilities Commission: Current gas rates and terms and conditions
- Canadian Utilities: 2025 ESG datasheet, ownership footnote 3
- Canadian Utilities: 2025 year-end MD&A
- Direct Energy: History
- Emera: Agreement to acquire ATCO and Canadian Utilities
- ENMAX: Shareholder relationship
- EPCOR: Financial information
- EPCOR: Fourth-quarter 2025 results
- FortisAlberta: Our company
https://billrobin.com/ca/en/alberta/energy/who-owns-alberta-energy-companies?utm_medium=share&utm_source=page
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