The provincial cabinet has approved the recommendations from the Saskatchewan Rate Review Panel for residents to pay slightly less for power.

On Thursday, the Government of Saskatchewan announced its decision about SaskPower's multi-year rate application, which have been adjusted as follows:

  • The increase of five per cent (effective July 1, 2016) has been approved. This will not affect current billing, as it has been in effect on an interim basis.
  • The increase (effective Jan. 1, 2017) will be reduced to 3.5 per cent from five per cent.

The 2016 rate increase of five per cent, which took effect in July, resulted in an increase of $6 per month for the average residential customer.

The 2017 rate increase of 3.5 per cent taking place in the new year will mean an additional $4 per month for customers.

Minister responsible for SaskPower Gordon Wyant said in a news release, the crown corporation understands customers need reliable power.

“In light of the challenges with maintaining and growing the electricity system, as well as keeping up with demand and meeting targets for renewable generation, additional funding is needed to provide that reliable power to the people of Saskatchewan,” Wyant said.

Investments by SaskPower in the coming years include (costs approximate):

  • Pasqua to Swift Current transmission line ($260 million)
  • Kennedy to Tantallon transmission line ($113 million)
  • Construction of Chinook Power Station ($680 million)
  • Distribution customer connects ($509 million)
  • E.B. Campbell Hydroelectric Station life extension ($245 million)
  • Wood pole remediation ($498 million)

“We understand the economy is in a challenging state right now, and we are committed to providing safe, reliable power to our customers in as cost-effective a manner as possible,” SaskPower President and CEO Mike Marsh said in the news release.