SaskEnergy has received the final stage of approval for its requested commodity rate increase.

Cabinet has given the thumbs up to the first increase in seven years after four consecutive decreases. Even with the increase, the Crown corporation says the new rate will still be the lowest in Canada.

Effective November 1, 2021, SaskEnergy’s commodity rate changes from $2.575/gigajoule (GJ) to $3.20/GJ. The adjustment will increase the average residential customer’s bill by $6.16 per month or almost $74 per year.

SaskEnergy President and Chief Executive Officer Ken From says, “SaskEnergy’s commodity rate increase is a reflection of the significant rise in natural gas prices. Gas utilities across Canada are facing the same challenge.”

The commodity rate is a pass-through of the costs to purchase natural gas from the market. SaskEnergy does not earn profit or loss on the sale of the commodity.