The government has accepted the Saskatchewan Rate Review Panel's recommendations on SaskPower's request for rate changes.

"We agree with the panel's recommendation SaskPower can increase its rates to achieve an overall increase of two per cent in revenue," Crown Investments Corporation Minister Maynard Sonntag said. "We also agree the rate increase should take effect April 1st.

"We believe this modest increase is fair and reasonable, considering the much higher fuel costs SaskPower is facing, and the fact rates have been frozen for five years."

This is the third rate review conducted by the Saskatchewan Rate Review Panel since it was established in July, 2000. The panel's mandate is to review rate change requests that may be brought forward by Crown corporations, and to make recommendations to government.

"I would also like to thank the hundreds of Saskatchewan people who attended the panel's public meetings or shared their views with the panel by phone, mail, fax, e-mail or through the panel's web site," Sonntag said.

Ted Boyle
Executive Director, Communications
Crown Investments Corporation
Regina
Phone: (306) 787-9039