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U.S.–Canada energy trade fell overall in 2025, even as gas and electricity trade value rose

EIA reports that total U.S.–Canada energy trade value fell 11% in 2025, while natural-gas and electricity trade value increased slightly. The figures describe cross-border trade conditions, not a direct estimate of a household utility bill.

By Greener Numbers Editorial Team · Published August 28, 2026 · Updated 8/28/2026

## A smaller overall energy-trade total can still contain higher-value gas and electricity flows

The value of energy traded between the United States and Canada fell to an estimated **$137 billion in 2025**, an 11% decline from the prior year, according to the U.S. Energy Information Administration. But the overall decline did not apply uniformly to every energy product. EIA reported that the trade value of natural gas and electricity between the two countries increased slightly, driven primarily by higher natural-gas prices and greater trade volume.

That contrast is the important part of the release. “Energy trade” is a collection of very different fuels and services, each with its own prices, volumes, routes, and market conditions. A lower total does not mean every cross-border energy flow fell, and a higher value for natural gas or electricity does not automatically mean a higher bill for a particular home.

What changed in the total

EIA attributes the broader 2025 decline largely to lower crude-oil prices. Crude oil is the largest component of U.S.–Canada energy trade, so changes in its price can outweigh movements in smaller categories. EIA describes energy-trade value as the combined value of imports and exports between the two countries; it is influenced by both how much is traded and the prices recorded for those products.

In 2025, U.S. energy imports from Canada accounted for most of the total. The release reports an estimated $111 billion in imports and $26 billion in U.S. energy exports to Canada. Those figures provide context for the two-way relationship, but they do not identify the cost paid by each utility, supplier, or household.

Why natural gas and electricity moved differently

Natural gas is traded mainly by pipeline across the border. EIA says higher gas prices and trade volumes raised the value of natural-gas trade in 2025, even while the total value of energy trade declined. Price and volume can move in different directions: a value increase may result from more gas moving, a higher price for each unit, or both.

Electricity is also exchanged across the border through interconnections between regional power systems. The value is comparatively small next to crude oil, but cross-border electricity can still be important when regions need additional supply or when hydropower, weather, demand, or local generating conditions change. EIA’s finding is a trade statistic, not a measure of the retail tariff approved for customers in a border state or province.

What this means for household energy costs

The household takeaway is indirect. Cross-border gas and electricity trade can be one factor in regional wholesale supply conditions, especially in connected markets. But an electricity or heating bill reflects many other inputs: a utility’s fuel contracts, power mix, delivery-system costs, regulator-approved rates, fixed charges, taxes, weather, and a home’s own energy use.

For that reason, it would be inaccurate to translate the reported increase in natural-gas and electricity trade value into a nationwide bill forecast. A customer may see a lower bill despite a higher national trade value, or a higher bill when the trade measure is unchanged. The most useful account-level comparison remains the same month last year: separate kWh or therms used from the price and fixed charges shown on the bill.

A useful way to read trade-value headlines

When an energy-trade figure changes, ask two questions. First, did the physical quantity traded change? Second, did the price of the commodity change? Trade value alone combines both effects. EIA’s 2025 result is a useful example: the overall total fell with lower crude-oil prices, while gas and electricity trade value moved upward for different reasons.

That is why the release should be viewed as context for North American energy markets rather than as a consumer-price index. It helps show how major energy flows changed across the border; it does not establish the cause of a local rate change or predict future household costs.

Source and limits

This article is an original Greener Numbers analysis of EIA’s August 5, 2026 Today in Energy item, which uses U.S. Census Bureau Standard International Trade Classification data. The cited values concern 2025 trade value and are not an individual utility-bill measure, an eligibility determination, or a forecast. Local prices and bills depend on utility-specific and household-specific factors not established by the release.

Official source: U.S. Energy Information Administration ↗