The government has accepted the Saskatchewan Rate Review Panel's recommendation on rate changes requested by SaskEnergy and SaskPower.

"We agree with the panel's recommendation the 10 per cent reduction in SaskEnergy bills that went into effect November 1st remain in place," Crown Investments Corporation Minister Maynard Sonntag said. "This saves the average residential natural gas customer about $112 dollars a year. The approved rate includes price insurance which ensures rates will stay the same even if gas costs go way up as they did last winter."

"We also agree with the panel's recommendation SaskPower can increase its rates to generate an overall increase of 4.5 per cent in revenue," Sonntag said. "This increase is a result of high fuel costs and low water levels last year. It will cost the average residential customer about four dollars more a month.

"The overall effect of the energy rate changes is a reduction of approximately $64 a year in energy costs. More importantly, it means energy rate stability for Saskatchewan people over the winter and the year ahead.

"I have asked SaskPower's president and board to provide cabinet with a detailed assessment of the review panel's observations respecting SaskPower costs and efficiencies," Sonntag concluded. "That report will detail how the corporation will manage the reduced increase that has been approved. It will also enable the government to ensure SaskPower minimizes any future cost increases to Saskatchewan consumers."

For more information, contact:

Ted Boyle
Crown Investments Corporation
Regina
Phone: (306) 787-9039