SaskPower pushing ahead with 8% rate increase
SaskPower profits declined to $11 million in 2021-22, which means the government will push ahead with an eight per cent rate increase request.
“The net income for 2021-22 was $11 million, down $149 million compared to 2020-21. The reduction in earnings was largely due to extremely dry conditions which led to a 33 per cent decrease in hydro generation,” said Don Morgan, minister in charge of SaskPower.
The NDP believe the government should hold off on the rate increase application.
“We’re facing a generational, a forty year affordability crisis and what do we see Scott Moe focused on? It’s not the needs of the people of this province,” said NDP leader Carla Beck.
The rate review panel has yet to agree to SaskPower’s request. SaskPower’s small profit could add weight to its argument for a rate increase.
SASKENERGY GAINS OWNERSHIP OF REGINA OFFICE
SaskEnergy has gained ownership of its Regina head office building following a decade long legal battle.
The courts have ordered that a deal proceed, which gave SaskEnergy the option to buy the building for far less than what it is worth.
It was a deal almost too good to be true. In the early 2000’s, the previous NDP government signed a deal to rent the building for 10 years with an option to purchase at the end for $19 million.
When the time came to sign the cheque, the building had gained $30 million in value and the landlord backed out of the deal.
After a 10 year legal battle, SaskEnergy won and now owns its head office building. The financial gain was reflected in SaskEnergy’s annual report with an $82 million profit for 2021.
“As a result of that conclusion and the awarding of the building to SaskEnergy, the accounting rules require us to report a non-cash accounting adjustment,” said Chief Financial Officer of SaskEnergy Christine Short.
CTVNews.ca Top Stories
Orca calf that was trapped in B.C. lagoon for weeks swims free
An orca whale calf that has been stranded in a B.C. lagoon for weeks after her pregnant mother died swam out on her own early Friday morning.
King Charles' cancer treatment progressing well, says Buckingham Palace
King Charles III’s doctors are 'sufficiently pleased' with his cancer treatment and he is expected to return to public-facing duties, Buckingham Palace announced on Friday.
AFN chief says Air Canada offered a 15% discount after her headdress was mishandled
After the Assembly of First Nations' national chief complained to Air Canada about how staffers treated her and her ceremonial headdress on a flight this week, she says the airline responded by offering a 15 per cent discount on her next flight.
Sophie Gregoire Trudeau on navigating post-political life, co-parenting and freedom
Sophie Gregoire Trudeau says there is 'still so much love' between her and Prime Minister Justin Trudeau, as they navigate their post-separation relationship co-parenting their three children.
DEVELOPING Bird flu outbreaks: WHO weighs in on public health risk
The current overall public health risk posed by the H5N1 bird flu virus is low, the World Health Organization said on Friday, but urged countries to stay alert for cases of animal-to-human transmission.
76ers All-Star centre Joel Embiid says he has Bell's palsy
Philadelphia 76ers All-Star centre Joel Embiid has been diagnosed with Bell’s palsy, a form of facial paralysis he says has affected him since before the play-in tournament.
Island near Mull of Kintyre for sale for US$3.1 million
An idyllic 453-acre private island is up for sale off the west coast of Scotland and it comes with sandy beaches, puffins galore, seven houses, a pub, a helipad and a flock of black-faced sheep.
Regina police officer injured after being accidentally shot by fellow officer's gun
An investigation is underway after a Regina police officer was accidentally shot by a fellow officer’s gun during the search of a house early Friday morning.
Taylor Swift dons Montreal designer's dress in 'Fortnight' video
A pair of Montreal designers' work has now been viewed over 41 million times. Taylor Swift dons a Victorian throwback black gown in her latest music video, 'Fortnight', designed by UNTTLD due Simon Belanger and Jose Manuel Saint-Jacques.