Here's how much SaskPower rate increases will cost you
SaskPower customers will notice an increase in price on bills starting in September.
The Government of Saskatchewan approved a recommended increase to SaskPower’s rates, which will increase bills twice over the next year, according to a news release.
The Crown’s rates will increase by four per cent on Sept. 1, 2022 and another four per cent on April 1, 2023.
The government said the new rate would result in an average increase of approximately $5 on residential customers' monthly bills – $10 in total for both increases.
"The decision to increase rates is not taken lightly and came after a thorough review by the independent Saskatchewan Rate Review Panel," Minister Responsible for SaskPower Don Morgan said.
"World events have caused a significant rise in the price of natural gas, and with 42 per cent of Saskatchewan's electricity coming from natural gas-fueled facilities, SaskPower requires additional revenue to maintain reliable operations."
SaskPower said the increase is driven by the rising price of natural gas and the company’s expected reliance on the resource as coal is phased out.
The Crown’s fuel and purchased power expense is expected to rise to $1.069 billion in 2023-24 – up from $715 million in 2020-21.
"In the four years since our last increase SaskPower has worked to find internal efficiencies, but at this time we require additional funding to continue to provide reliable and sustainable power," SaskPower president & CEO Rupen Pandya said.
"We will continue to be transparent about our rate strategy and the need for regular, moderate increases."
CTVNews.ca Top Stories
Celine Dion delivers stirring comeback performance at Paris Olympics opening ceremony
Against the rainy Paris night sky, Celine Dion staged the comeback of her career with a powerful performance from the Eiffel Tower to open the Olympic Games.
Jasper wildfire: 'Several weeks' before residents can return, premier says
Premier Danielle Smith said Friday afternoon in Hinton while weather conditions are cooler, the Jasper fire is still considered out of control and that Jasper residents can expect to be away from their homes 'for several weeks.'
Missing 3-year-old boy found dead in creek in Mississauga, Ont.: police
A three-year-old boy has been found dead a day after he went missing in a park in Mississauga, Ont., Peel police say.
Irish museum pulls Sinead O'Connor waxwork after just one day due to backlash
An Irish museum will withdraw a waxwork of singer-songwriter Sinéad O'Connor just one day after installing it, following a backlash from her family and the public, it told CNN in a statement on Friday.
Winnipeg senior's account overdrawn for $146,000 water bill
A Winnipeg senior is getting soaked with a six-figure water bill.
FBI says Trump was indeed struck by bullet during assassination attempt
Nearly two weeks after Donald Trump’s near assassination, the FBI confirmed Friday that it was indeed a bullet that struck the former president’s ear, moving to clear up conflicting accounts about what caused the former U.S. president’s injuries after a gunman opened fire at a Pennsylvania rally.
Driver charged after flashing high beams at approaching police
Orillia OPP arrested and charged a driver with impaired driving after flashing their high beams.
Turpel-Lafond won't sue CBC over Cree heritage report that took 'heavy toll': lawyer
The lawyer for a former judge whose claims to be Cree were questioned in a CBC investigation says his client is not considering legal action against the broadcaster after the Law Society of British Columbia this week backed her claims of Indigenous heritage.
Major Canadian bank experiences direct deposit outage on payday
Scotiabank says it has fixed a technical issue that impacted direct deposits on Friday morning.