A new report from the Saskatchewan Rate Review Panel is sparking a debate over the future of SaskPower rates, with the Saskatchewan NDP accusing the provincial government of withholding critical financial information while the government says it is focused on balancing affordability and maintaining a reliable power system.
The panel recently recommended that the province approve SaskPower’s interim 3.9 per cent rate increase that took effect earlier this year. However, it delayed a decision on a second proposed 3.9 per cent increase scheduled for Feb. 1, 2027, saying more up-to-date financial information is needed before a final recommendation can be made. The panel also warned the eventual increase could be between 5.4 and 6.4 per cent if additional financial pressures materialize.
The Saskatchewan NDP says the report raises serious concerns about the management of SaskPower and the information provided during the rate review process.
“The report recommended against the proposed 2027 rate increase, stating that additional information was needed to justify it,” said Aleana Young, the NDP’s Shadow Minister for Economy, Jobs and SaskPower.
Young argued the report shows the government failed to provide enough information for the panel to fully assess SaskPower’s financial position. She also pointed to findings in the panel’s consultant report, which noted the utility did not provide certain lifecycle cost analyses that are common in electricity planning processes.
“The report is brutal. It’s a damning indictment of the devastation that Scott Moe and Jeremy Harrison have inflicted on SaskPower,” Young said.
The NDP also highlighted figures in the report showing SaskPower rates have increased by nearly 75 per cent since 2007, compared to a 54 per cent increase in the Consumer Price Index over the same period.
Government to review report
In response, Jeremy Harrison, Saskatchewan’s Minister responsible for Crown Investments Corporation, said the panel confirmed SaskPower is facing significant financial challenges, including aging infrastructure, rising operating costs and growing demand for electricity.
“The Panel confirmed that SaskPower is facing significant financial pressures resulting from aging infrastructure, rising operating costs, and growing electricity demand,” Harrison said. “It also emphasized the importance of affordability for Saskatchewan households, farms, and businesses.”
Harrison said the government will carefully review the report before making any decisions on future rate increases.
“We will carefully review the report and ensure any future decisions strike the appropriate balance between maintaining a reliable electricity system and protecting ratepayers from unnecessary cost increases,” he said.
While the two sides disagree on the reasons behind SaskPower’s financial challenges, both acknowledge affordability remains a major concern for Saskatchewan residents, farmers and businesses. The Rate Review Panel said affordability was one of the most common concerns raised through public submissions during its review.
The provincial government will now review the panel’s recommendations before making a final decision on future SaskPower rates. SaskPower has until Nov. 2 to provide updated financial information requested by the panel, after which a recommendation on the proposed 2027 increase will be made.
