The report reflects a fiscal year-end change from December 31 to March 31, which was announced in November 2015 and affected all the province’s crown corporations.
SaskEnergy’s capital investment for the fiscal year was $244 million, and according to CEO and President of SaskEnergy Doug Kelln, about $100 million goes to maintaining existing infrastructure.
“You then have the final two components — being customer growth of continuing to invest in infrastructure, and customer improvement that we’re continuing to improve our infrastructure,” said Kelln.
About 50 percent of the corporation’s natural gas was purchased from Alberta because there is less being produced right now.
The price of natural gas is expected to drop down to about $3.65 per gigajoule by November 1, making it the lowest it’s been in 16 years.
SaskEnergy saw an increase of more than six thousand customers in 2015-16, bringing its total customer base to almost 387,000.
Kelln announced his retirement from the position of CEO after more than 12 years. He’s been working within crown corporations since 1988, and will remain in the position until January 2, 2017.