SaskEnergy released its annual report, with an increase in its net income apart of the highlights.
In its annual report, crown cooperation saw its net income increase by $23 million compared to last year, bringing its total to $82 million for 2021-2022.
Minister Responsible for SaskEnergy Don Morgan said this was largely due to a one-time accounting adjustment related to the conclusion of litigation that awarded SaskEnergy title to its head office building in Regina.
A frigid winter, as well as higher demand for natural gas from industrial customers, and the addition of more than 2,800 new distribution customers, also contributed to higher net income.
SaskEnergy reported revenue of $553 million, up from $526 million in 2020-21. They also saw their expenses increase, from $467 million to $471 million.
The crown corporation was able to reduce greenhouse gas emissions by 22,000 tonnes of carbon dioxide equivalent.
They were also able to offer $2.65 million in rebates to homeowners who purchased high-efficiency furnaces, water heaters, boilers, combi boilers and heat recovery ventilators, as well as $390,000 in rebates to businesses to install energy-efficient furnaces, boilers, water heaters and infrared tube heater.
SaskEnergy also provided a dividend of $22 million to the Crown Investments Corporation, an increase of $1 million over the previous year.
