SaskPower Requests Rate Increase
August 15, 2017
5% increase would take effect March 1, 2018
In order to continue to keep up with the challenge of growing electricity demand, environmental commitments and the need to invest in an aging electrical system, SaskPower has submitted an application for a rate increase of five per cent, effective March 1, 2018.
If the increase is approved, an average residential customer will pay an additional $6 per month.
"Our mission at SaskPower is to ensure reliable, sustainable and cost-effective power for our customers and the communities we serve. In order to keep providing that for the people of Saskatchewan, we will continue to need additional funding," said SaskPower President & CEO Mike Marsh. "In the past five years, we've invested over $6 billion in capital projects and power purchase agreements to continue to bring power to our customers."
As noted in the recent 2016-17 Annual Report, SaskPower invested $886 million in the province's electricity system over the past year. Capital investment is forecasted to be $1.12 billion in 2017-18. As well, over the past two years, restraint measures were implemented. SaskPower has saved $73 million in budgeted operating, maintenance and administration spending while also reducing or deferring $484 million in capital spending.
"We'll continue to find ways to work more efficiently and effectively, and keep finding savings by managing our workforce, prioritizing requests for new spending and deferring projects where we can so our customers' money goes to the highest priorities," said Marsh. Further information on the rate review process, including a full copy of the SaskPower application, will be available at www.saskratereview.ca.
At a glance...
- SaskPower is requesting a rate increase of 5% effective March 1, 2018.
- This means an additional $6/month for an average residential customer.
- SaskPower has invested $6 billion in capital and power purchase agreements over the last five years.
- Over the past two years, SaskPower has saved $73 million in budgeted operating, maintenance and administration spending.