After reviewing the recommendations of the Saskatchewan Rate Review Panel (SRRP), the Government of Saskatchewan has given SaskPower the go ahead 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 says.
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 adds. "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." Saskatchewan residential customers will, on average, see their bills increase by between $4-6 per month starting Jan. 1, 2013.
For more information about SaskPower's rate application, visit saskpower.com/rates or the Rate Review Panel website at www.saskratereview.ca.
