SaskPower applies for rate increase to invest in electrical system
July 10, 2012 - SaskPower has submitted an application to the Saskatchewan Rate Review Panel for a 4.9% rate increase, effective January 1, 2013, saying the increase is needed to fund investments in the province’s electrical system to keep up with a “growing economy and maintain electrical reliability”.
By Anthony Capkun
“Demand for power is expected to grow by 2.9% per year from 2011-2021, and we need to be ready for that growth,” said SaskPower president and CEO Robert Watson. Residential customers will, on average, see their bills increase by between $4 and $6 per month starting next year.
The ongoing replacement and refurbishment of the electrical system, along with the need to reduce greenhouse gas emissions, factor into the need to increase electricity rates, says the utility. Over the next 10 years, SaskPower plans to spend $10 billion on the province’s electrical system, plus another $5 billion on commitments to the company’s Power Purchase Agreements.
Two major projects account for a majority of capital expenses in 2013: the carbon capture and storage project at Boundary Dam Power Station and the 200-MW expansion of Queen Elizabeth Power Station.
To help offset the impact of rate increases, SaskPower says it will continue to help customers large and small reduce their electrical use, decrease their power bills and help protect the environment through a variety of energy efficiency and conservation programs. Visit saskpower.com/save_power for more information.