There will be no rate increase from SaskEnergy in the next year.
That from Minister Responsible for the Crown Corporation, Bronwyn Eyre, as she spoke about the annual report for the fiscal year 2019-20.
Even though the effects of COVID-19 aren’t known yet, Eyre says it’s the responsible thing to do, considering the financial difficulties many people are in.
It’s also because of the slow down in oil production because of OPEC price war.
She adds that as of April 1st of 2019, SaskEnergy announced its lowest commodity rate in 20 years and combined with its delivery rate, the total residential gas rate is the 3rd lowest in Canada.
She says customers might not have noticed a difference on their bills because of the federal carbon tax which negated the decrease, but it did basically neutralize the effect of the tax.

SaskEnergy recorded income before unrealized market value adjustments of $66 million in the 2019-20 fiscal year. Based on that, the Crown Corporation declared a dividend of $24 million to the Government of Saskatchewan. SaskEnergy says industrial transmission customers increased for the fifth straight year. The company invested $330 million to expand natural gas storage and delivery capacity. The commodity rate was lowered to reflect the low natural gas price environment which resulted in the lowest commodity rate in 20 years. The company says that, combined with its delivery rate, the total residential gas utility rate is the third lowest in Canada. The company’s overall customer base is expected to reach 400 thousand in 2020-21.

SaskEnergy also completed a new 62 kilometer South Saskatoon transmission gas line project which more than doubled natural gas capacity to the east side of the city to meet increased demand in Saskatoon and surrounding areas. It also provided nearly $1 million in rebates to residential and commercial customers who installed energy efficient natural gas furnaces and heating systems.