Released on July 7, 2021
SaskEnergy achieved strong financial and operational results in 2020-21 while maintaining its lowest commodity rate in more than 20 years. The corporation reported net income from operations of $59 million and declared a dividend of $21 million to Crown Investments Corporation (CIC).
"Despite the unprecedented challenges presented by the pandemic, SaskEnergy maintained an exceptional level of service to customers while also providing one of the lowest residential gas utility rates in the country," Minister Responsible for SaskEnergy Don Morgan said. "The reliability and affordability of SaskEnergy's service provides residents peace of mind knowing they will have the energy they need to heat their homes and run their businesses."
In 2020-21, SaskEnergy assisted homeowners and businesses in replacing aging natural gas equipment with new high-efficiency models through its Residential Equipment Replacement Rebate, Commercial Space and Water Heating Program, and Commercial Boiler Program. Together, the programs provided more than $1.8 million in rebates to help customers reduce utility costs and lower greenhouse gas emissions.
"SaskEnergy's customer programs not only help Saskatchewan residents and businesses make their energy dollars go further, they highlight the importance of carbon monoxide safety," Morgan said. "This year, the Canadian Gas Association awarded SaskEnergy's carbon monoxide (CO) safety initiative with its annual Michael Mulcahy Award for Excellence and Innovation in Customer Care and Service."
Through the CO safety initiative, which included a $10 point of purchase CO alarm rebate in 139 stores across 75 communities, customers throughout the province installed 24,500 CO alarms in their homes during 2020-21. An additional 2,000 alarms were installed through the Tune-Up Assistance Program (TAP), the Network Home Heating Tune-Up Program, and the SaskEnergy Service Technician CO Program.
Since 2017, TAP has provided nearly 1,500 income-qualified homeowners in Saskatchewan with free home heating equipment maintenance and improved CO detection. In 2020-21, the program served more than 730 homeowners in 48 Saskatchewan communities.
Other 2020-21 operational highlights include:
- Strengthening system reliability by investing $48.6 million in transmission infrastructure and gas lines near Shaunavon and Pierceland. Since 2018-19, a total of $69.5 million has been invested in these projects;
- $319 million spent in Saskatchewan, equal to nearly 70 per cent of total purchases in 2020-21;
- Enhancing customer experience through new corporate websites and text messaging service;
- Reducing total overall greenhouse gas emissions from operations by 12,900 tonnes of carbon dioxide equivalent (tCO2e), which equates to taking more than 2,800 cars off the road;
- Adding 3,001 new residential, business and industrial distribution customers;
- Investing $89 million in safety and integrity programs across the province;
- Establishing and expanding collaborations with Indigenous environmental organizations;
- Matching or breaking peak day customers' daily gas usage record for the eighth winter in a row; and
- Implementing the Government of Saskatchewan's Crown Utility Interest Waiver Program, which waived late payment charges for a six-month period to provide some relief to customers.
View a copy of the 2020-21 SaskEnergy Annual Report.
For more information, contact:SaskEnergy