SaskEnergy’s annual report on the review of 2017-2018 is indicative of a strong year.
The report shows the crown corporation, amongst other things, pulled in $110 million, an increase of $40 million from the year. Another notable figure from the report showed an drop in their debt ratio, down from 59/41 to 56/44.
One of the more notable items in the report included the noting from SaskEnergy President and CEO Ken From that of all the natural gas consumed in Saskatchewan, only 35% is made in Saskatchewan.
“We are importing from Alberta,” said Minister Responsible Bronwyn Eyre. “That is where we’re getting a large part of our gas as a result of the commodity that is the volatile gas market.”
Eyre also said the volatile commodity natural gas market, why can fluctuate from day to day, is also very low right now.
That is, in part, due to an increased demand in industrial growth and this past winter being 12% colder than average. With all that combined, there’s a potential for Saskatchewan residents to see the a smaller number on the bottom line of their energy bills when they come November 1st.
“Should natural gas commodity markets remain low, we expect that customers will get a break on their heating costs this winter.”
Those cost could see the commodity section of customers bills drop by 10%, with no major modifications to the service side.
That’s something the Official Opposition’s Critic for SaskEnergy Nicole Rancourt said will be beneficial for Saskatchewan residents.
“Because the residents have contributed to this crown corporation, they can see the benefits of that coming back to them,” she said.
(with files from Brandon Graziano and Mitchell Blair)