SaskPower invests to support demand growth, renew aging grid
REGINA, Saskatchewan -- - SaskPower made significant investments - $1.279 billion - into the provinceÂ’s electrical grid in 2014, as aging infrastructure, increasing demand and changing environmental regulations continue to challenge the Crown corporation.
SaskPower tabled its 2014 Annual Report in the Saskatchewan Legislative Assembly today, reporting an operating income of $43 million in 2014 on over $2 billion in revenue.
“Our province is focusing on investing in infrastructure to keep our province strong, and that includes our electrical grid,” Minister Responsible for SaskPower Bill Boyd said. “Those investments do have an impact on SaskPower’s annual income, but they are necessary to renew and improve the system and meet increasing demand for electricity in our growing province.”
“Like many electrical utilities, SaskPower is continuing to operate in a challenging environment,” said President and CEO Mike Marsh. “Demand for electricity has grown nearly 10 per cent in just two years, and our peak demand continues to break records. It’s critical that we invest in renewing and maintaining our system so that we are positioned to supply reliable, affordable and sustainable power today and into the future.”
Key SaskPower highlights from 2014 include:
- $409 million to upgrade power stations
- $583 million to connect customers to the system, as well as transmission and distribution upgrades
- The successful launch of the Boundary Dam carbon capture and storage project, the first of its kind in the world
- Construction continued on the Shand Carbon Capture Test Facility, scheduled to be completed in 2015
- Work continued on the expansion of the Queen Elizabeth Power Station in Saskatoon, which will add 205 megawatts to the grid when complete in 2015
- Work on the $380 million I1K transmission line, which will run from Island Falls to Key Lake to serve industry and improve reliability in the provinceÂ’s north
- SaskPower reached an agreement with Manitoba Hydro to import 25 MW of power from 2015 to 2022
Related News
New Texas will bill electric vehicle drivers an extra $200 a year
DALLAS - Plano resident Tony Federico bought his Tesla five years ago in part because he hated spending lots of money on gas. But that financial calculus will change slightly on Sept. 1, when Texas will start charging electric vehicle drivers an additional fee of $200 each year.
“It just seems like it’s arbitrary, with no real logic behind it,” said Federico, 51, who works in information technology. “But I’m going to have to pay it.”
Earlier this year, state lawmakers passed Senate Bill 505, which requires electric vehicle owners to pay the fee when they register a vehicle or renew their…
