SaskPower tabled its annual report today which saw the crown power corporation report a net income of $11 million dollars in 2021-22. This is down from $160 million the year prior which the Minister Responsible, Don Morgan, says is largely due to rising fuel costs and increased purchased power costs.

SaskPower invested $922 million in capital projects, $385 million to repair and upgrade aging generation, transmission and distribution infrastructure and $490 million on growth projects like new generation facilities and expanded grid capacity. The year also included the commissioning of the province’s first utility-scale solar facility.

Electricity demand increased by 4.1 per cent in 2021-22 and is expected to grow another 1.4 per cent in the current fiscal year.

SaskPower has applied to the Saskatchewan Rate Review Panel (SRRP) for rate increases of 4 per cent in 2022, and another 4 per cent in 2023. SaskPower has not increased its rates since 2018. The SRRP indicates on its website that a report to the minister regarding the request will be delivered on July 12th.