SaskPower rate increase to renew aging infrastructure
SaskPower is requesting the following system average rate increases in 2014: a 5.5 per cent rate increase in 2014 a 5.0 per cent increase in 2015 and a 5.0 per cent increase in 2016.
Saskatchewan residential customers will, on average, see their bills increase by $5, $4 and $4 per month in 2014, 2015 and 2016 respectively, if the rate application is approved.
“The type of growth Saskatchewan has experienced in recent years isn’t a blip on the radar it’s the new reality for our province,” said SaskPower President and CEO Robert Watson. “In order to keep up with that trend, sustained major investments into the electrical system are a necessity to maintain safe and reliable service.”
Watson noted that a multi-year application allows customers to budget household expenses in advance, and helps commercial and industrial customers with business planning over the next three years.
“SaskPower continues to set new annual records for customer connects and the total amount of power needed by customers at one time,” said Watson. “To that end, we plan to spend $1 billion per year for the long term on renewing and improving the province’s electricity system”.
To help offset the impact of rate increases, SaskPower will continue to help customers reduce their electrical use through efficiency and conservation programs, including the popular Refrigerator Recycling Program, and various lighting discounts and offers.
SaskPower will continue to find ways to operate its business more efficiently by reducing costs where possible. Through its Business Renewal program, SaskPower has already saved $137M at the end of 2012. Examples include:
- $63 M: the amount saved to Dec. 31, 2012, through changes to borrowing practices to reduce interest rates
- $36 M: the amount saved to Dec. 31, 2012, in new customer connect process improvements and productivity gains and
- $12 M: the amount saved to Dec. 31, 2012, through improvements to information technology practices, such as reducing the number of printers in offices, and automating testing tools for software upgrades.
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