The Saskatchewan Rate Review Panel is recommending a rate increase effective November 1st for SaskEnergy.

The Panel is recommending to the Minister Responsible for the Crown Corporation to approve a proposed commodity rate increase of 28.1 per cent to 12.78 cents per cubic metre or $3.20 per Gigajoule effective November 1st, this year.

The impact on the average residential bill is paying $74 more a year for natural gas, for small business, on average, it would cost an additional $361 per year while large business is facing an extra $4,713 a year to pay for natural gas.

SaskEnergy decreased commodity rates in 2019 and this is the first request in seven years for a commodity rate increase. SaskEnergy purchases natural gas on the open market and passes on the cost of natural gas to customers at the same price it pays to suppliers, including all expenses.

The recommendation from the Rate Review Panel now needs to be approved by cabinet.