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
'They needed people inside Air Canada:' Police announce arrests in Pearson gold heist
Police say one former and one current employee of Air Canada are among the nine suspects that are facing charges in connection with the gold heist at Pearson International Airport last year.
House admonishes ArriveCan contractor in rare parliamentary show of power
MPs enacted an extraordinary, rarely used parliamentary power on Wednesday, summonsing an ArriveCan contractor to appear before the House of Commons where he was admonished publicly and forced to provide answers to the questions MPs said he'd previously evaded.
Leafs star Auston Matthews finishes season with 69 goals
Auston Matthews won't be joining the NHL's 70-goal club this season.
Trump lawyers say Stormy Daniels refused subpoena outside a Brooklyn bar, papers left 'at her feet'
Donald Trump's legal team says it tried serving Stormy Daniels a subpoena as she arrived for an event at a bar in Brooklyn last month, but the porn actor, who is expected to be a witness at the former president's criminal trial, refused to take it and walked away.
Why drivers in Eastern Canada could see big gas price spikes, and other Canadians won't
Drivers in Eastern Canada face a big increase in gas prices because of various factors, especially the higher cost of the summer blend, industry analysts say.
Doug Ford calls on Ontario Speaker to reverse Queen's Park keffiyeh ban
Ontario Premier Doug Ford is calling on Speaker Ted Arnott to reverse a ban on keffiyehs at Queen's Park, describing the move as “needlessly” divisive.
'A living nightmare': Winnipeg woman sentenced following campaign of harassment against man after online date
A Winnipeg woman was sentenced to house arrest after a single date with a man she met online culminated in her harassing him for years, and spurred false allegations which resulted in the innocent man being arrested three times.
Woman who pressured boyfriend to kill his ex in 2000s granted absences from prison
A woman who pressured her boyfriend into killing his teenage ex more than a decade ago will be allowed to leave prison for weeks at a time.
Customers disappointed after email listing $60K Tim Hortons prize sent in error
Several Tim Horton’s customers are feeling great disappointment after being told by the company that an email stating they won a boat worth nearly $60,000 was sent in error.