SaskPower is once again in the spotlight following the release of the 2025-26 Crown corporation annual reports.
Revenues are up at SaskTel, SaskEnergy, Lotteries and Gaming Saskatchewan, SaskWater, and SGI. Meanwhile, SaskPower ended the year with a net loss of $114 million. This is down significantly from last year’s net earnings of 76 million.
Minister Responsible for the Crown Corporation, Jeremy Harrison, says the loss was driven by the discontinuation of the federal carbon charge rate rider collected from customers as of April first, 2025. However, in the name of affordability, he says he wouldn’t change a thing.
“We have a very high degree of comfort with our decision to remove the industrial carbon tax and take it off of the bills of our rate payers at SaskPower.”
What’s more, this loss was calculated even after the Crown Investment Corporation allocated a $187 million affordability grant to SaskPower to support rate affordability for customers.
“We are in a position to make policy choices to support affordability for consumers…If you were in Alberta, for example, that would not have been a policy choice that the government had in front of it, because in a deregulated market, they wouldn’t have had the opportunity to do that.”
NDP Critic for the CIC Aleana Young says Saskatchewan families should not be on the hook for the government’s misspending.
“Every single dollar of Crown profits that goes to pay for Scott Moe and Jeremy Harrison’s mistakes is a dollar or Crown profits that is not going to pay for basic public services. Healthcare, schools, roads, reducing debt, affordability.”
On the bright side, Lotteries and Gaming Saskatchewan reported record earnings, with its net income totaling $400 million, and SGI is searching for cost-cutting measures following a year of inflation, higher claim numbers, and largescale damage events.
SGI CEO Penny McCune says although the Crown corporation is also utilizing rate, deductible, and administrative fee increases, it is also looking internally for ways to save some cash.
She says some of those measures include working with body shops to use used parts instead of new, implementing a new fraud software, and utilizing more digital, cost-effective advertising.
She adds the recent hailstorm that swept Regina did over $100 million in damages, and that’s an early estimate.
“It’s shaping out to be one of our largest hailstorms in history, unfortunately. I think we’re up to 13,000 claims so far, and a lot of them are auto.”
SGI Canada reported a net income of $75.7 million, which it said allowed it to return a dividend of $16 million in 2026.
