SaskPower is applying for 10 per cent in rate increases over the next six months.
First a 5% increase on July 1st and then another 5 on January 1st. Meanwhile SaskEnergy is applying for a 2.3 % decrease in their rate and overall residential customers would pay $4.30 more per month on average.
SaskPower President and CEO Mike Marsh says after these possible increases, they look good for the future. “I can tell you that with these two increases we are in a good position to not have an increase for a full year into the next year. It’s not going to be every six months. We are doing this to make sure that we can get close to our return on equity target.”
SaskPower has spent $6 billion dollars on capital investments and power purchase agreements in the last 5 years.
A decision from the Rate Review Panel is expected in October.