SaskPower to hold rates steady next year

By CJME News Staff
October 4, 2018 - 11:44am

After a few years of power bills going up, SaskPower customers should be getting a break next year.

The Crown corporation has announced it will not be applying for a rate increase for the 2019/20 fiscal year.

This comes after several consecutive rate hikes, with some going up every six months.

SaskPower said it should be able to meet its financial goals without charging customers more. The Crown corporation credits this opportunity to lower than expected natural gas prices and to optimization efforts to cut overall costs within the company.

Since 2015, SaskPower has saved $115 million by finding efficiencies to trim spending on operating, maintenance and administration.

SaskPower still plans to invest about $1 billion to modernize infrastructure and expand the electrical system across the province.

SaskEnergy recently announced an application for the largest rate cut in 20 years thanks in part to lower natural gas costs.

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