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
CFIA monitoring for avian flu in Canadian dairy cattle after U.S. discoveries
The Canadian Food Inspection Agency is encouraging veterinarians to keep an eye out for signs of avian influenza in dairy cattle following recent discoveries of cases of the disease in U.S. cow herds.
Mandisa, Grammy award-winning 'American Idol' alum, dead at 47
Soulful gospel artist Mandisa, a Grammy-winning singer who got her start as a contestant on 'American Idol' in 2006, has died, according to a statement on her verified social media. She was 47.
'It could be catastrophic': Woman says natural supplement contained hidden painkiller drug
A Manitoba woman thought she found a miracle natural supplement, but said a hidden ingredient wreaked havoc on her health.
DEVELOPING G7 warns of new sanctions against Iran as world reacts to apparent Israeli drone attack
Group of Seven foreign ministers warned of new sanctions against Iran on Friday for its drone and missile attack on Israel, and urged both sides to avoid an escalation of the conflict.
After hearing thousands of last words, this hospital chaplain has advice for the living
Hospital chaplain J.S. Park opens up about death, grief and hearing thousands of last words, and shares his advice for the living.
Vancouver firefighter in rehab at home after losing leg to flesh-eating infection overseas
A family trip took a frightening turn for Christopher Won when he was diagnosed with flesh-eating disease while in Hong Kong and now, after weeks of treatment overseas, the Vancouver firefighter is back home recovering.
WATCH Video shows dramatic police takedown of carjacking suspects chased through parking lot north of Toronto
Police have released video footage of a dramatic takedown of a group of teens wanted in connection with an attempted carjacking in Markham earlier this month.
WHO likely to issue wider alert on contaminated cough syrup
The World Health Organization is likely to issue a wider warning about contaminated Johnson and Johnson-made children's cough syrup found in Nigeria last week, it said in an email.
Advocacy groups speak out against domestic violence comments by Nova Scotia minister
Several Nova Scotia groups that assist women are speaking out against comments on domestic violence by Justice Minister Brad Johns, and at least one is calling for his dismissal.