SaskPower bills going up 3.9 per cent in February to support ‘record capital investments’

SaskPower is seeking a rate increase of 3.9 per cent for Feb. 1 and another 3.9 per cent the following year in order to support the Crown corporation’s “record capital investments” while continuing the provide reliable power service across the province.

The company said it is moving forward with its application to the Saskatchewan Rate Review panel, but the first increase will be implemented on an interim basis, subject to the public review process.

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SaskPower said the rate hike means roughly $5 more per month for the average residential customer, while the average farm customer will see bills go up by about $11 per month.

The utility noted that it most recently raised rates by four per cent in 2022 and 2023, but before that rates had not gone up for four years.

“Utilities across Canada continue to face considerable rate pressures, and SaskPower is no exception,” Rupen Pandya, SaskPower’s president and CEO, said in a statement.

“We will continue to pursue a strategy of balancing the need for moderate rate increases with our required capital investments to maintain reliability for customers.”

The company said reliability and energy security are its top priorities, and in the coming years it intends to revitalize its coal power plants, expand its transmission and distribution systems while working to modernize Saskatchewan’s grid.

“SaskPower is committed to keeping rates as low as possible for customers and maintaining affordability while ensuring the financial health of the company,” the Crown corporation said in a statement, noting that it offers tips to help reduce power consumption on its website.