SaskPower reports $205M income in 2019-20, tables annual report
REGINA -
SaskPower presented its annual report on Monday, with a net income of $205 million in 2019-20.
This figure shows an increase of $8 million from 2018-19.
“Reliable, sustainable and cost-effective electricity is crucial to achieving the economic goals laid out in the Government of Saskatchewan’s Growth Plan and the emissions reductions targets outlined in Prairie Resilience, our made-in-Saskatchewan climate change strategy,” Minister Responsible for SaskPower Dustin Duncan said.
In the last year, SaskPower has repaired and upgraded old infrastructure, invested in growth projects and increased grid capacity.
“During the past year, we continued to move toward our target to reduce carbon dioxide emissions 40 per cent from 2005 levels by 2030,” SaskPower President and CEO Mike Marsh said. “The newly commissioned natural gas-fired Chinook Power Station will provide a stable source of baseload power while enabling the ongoing addition of intermittent renewable generation capacity such as wind and solar generation.”
Related News
U.S. power demand seen sliding 1% in 2023 on milder weather
WASHINGTON - U.S. power consumption is expected to slip about 1% in 2023 from the previous year as milder weather slows usage from the record high hit in 2022, the U.S. Energy Information Administration (EIA) said in its Short-Term Energy Outlook (STEO).
EIA projected that electricity demand is on track to slide to 4,000 billion kilowatt-hours (kWh) in 2023 from a historic high of 4,048 billion kilowatt-hours (kWh) in 2022, before rising to 4,062 billion kWh in 2024 as economic growth ramps up.
Less demand coupled with more electricity generation from cheap renewable power sources and lower natural gas prices is forecast…
