Released on December 12, 2012
After reviewing the recommendations of the Saskatchewan Rate Review Panel (SRRP), the Government of Saskatchewan has advised SaskPower to proceed with a 4.9 per cent rate increase, effective Jan. 1, 2013.
"This rate increase is needed to fund investments in the province's electrical system and keep up with Saskatchewan's growing economy, while at the same time maintaining safe and reliable electrical service for SaskPower customers," Minister responsible for SaskPower Bill Boyd said.
Over the next 10 years, SaskPower plans to invest $10 billion on the province's electrical system to meet increased electricity demand and renew aging infrastructure. Another $3 billion has been earmarked for Power Purchase Agreements.
"I would like to personally thank the members of the Rate Review Panel for their thorough analysis and consideration of SaskPower's rate application, and the provincial government for its approval of the case SaskPower presented," SaskPower President and CEO Robert Watson said. "The Rate Review Panel ensured that members of the public were informed and consulted during their review, which is a very important step in the process."
Of note, the SRRP congratulated SaskPower for the initiatives the company is taking to streamline business processes and improve service delivery, while also reducing costs and realizing savings.
Saskatchewan residential customers will, on average, see their bills increase by between $4-6 per month starting Jan. 1, 2013. SaskPower has not raised its rates since August, 2010.
Customers can help manage the increase by taking part in electricity conservation programs, such as SaskPower's fridge recycling program, lighting exchanges and discounts, and the block heater timer program. By 2017, it's expected that customers will achieve enough savings through SaskPower's energy-efficiency programming to power 100,000 homes.
For more information about SaskPower's rate application, visit saskpower.com/rates or the Rate Review Panel website at www.saskratereview.ca.
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For more information, contact:
James Parker
Executive Council
Regina
Phone: 306-787-1321
Email: james.parker@gov.sk.ca
Cell: 306-537-5492