Postal Service Disruption | Interruption des services postaux

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Government of Saskatchewan ministries, Crown corporations and organizations are working to minimize the impacts of the postal service disruption.

Les ministères, les sociétés d’État et les organismes du gouvernement de la Saskatchewan travaillent à réduire au minimum les répercussions de l’interruption des services postaux.

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Crowns Meet the Challenges of Growth

Released on April 16, 2014

Saskatchewan’s Crown corporations had net earnings of $566 million in 2013, up $128 million from the 2012 mark of $439 million.

Total revenues for 2013 were $4.8 billion, up $334 million from the previous year.

It was a challenging year for the Crowns, with earnings down from last year at SaskPower, SaskTel, SaskEnergy and SGI.

This reflected issues such as higher fuel, depreciation and interest costs at SaskPower, a very competitive market facing SaskTel and higher than expected claim costs at SGI.

The Crowns’ overall results still came in higher than budgeted, and reflected $156 million in net proceeds from the sale of shares in Information Services Corporation.

As a result of infrastructure investments, Crown debt rose by $915 million.  The Crowns achieved a consolidated debt ratio of 56.2 per cent overall, which benchmarks well against industry standards.

“2013 was another year of meeting the challenges of growth,” Crown Investments Corporation Minister Donna Harpauer said.  “The Crowns are laying the groundwork for further economic growth by ensuring new residents and businesses have the services they need to prosper.”

The Crowns were involved in a number of infrastructure projects in 2013 worth almost $1.9 billion, including the following:
  • SaskPower made further progress on the Boundary Dam Integrated Carbon Capture and Sequestration Project, which is expected to begin commercial operation in 2014.
  • SaskPower also announced a $532 million expansion of the Queen Elizabeth Power Station and began construction of a new power transmission line between Island Falls and Key Lake in northern Saskatchewan.  This will support economic growth and provide more reliable service for northern residents.
  • SaskEnergy continued to expand the natural gas network throughout the province, making 7,400 new connections, compared to the ten-year average of 4,222.  It also completed a number of industrial projects, including a new line to the K+S potash mine north of Moose Jaw.
  • SaskTel continued with the installation of the new fibre optic network.  In 2013, it made fibre accessible to nearly 41,000 homes and connected more than 24,000 homes to the new network.
The Crown sector was able to pay $361 million in dividends to the General Revenue Fund.

“By building for the future, the Crowns are doing their part to sustain the growth we have today and build on it for tomorrow,” Harpauer said.

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For more information, contact:

Randy Burton
Crown Investments Corporation
Regina
Phone: 306-787-5889
Email: rburton@cicorp.sk.ca
Cell: 306-535-7784

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