SaskPower Releases Annual Report

Written by Shanna Empey on Monday, 20 April 2015

SaskPower tabled its 2014 Annual Report in the Saskatchewan Legislative Assembly on Tuesday reporting an operating income of $43 million on more than $2 billion in revenue.

SaskPower invested $1.279 billion into the province’s electrical grid, with much of that spending due to repairing aging infrastructure as well as new infrastructure to support the increase in demand and changing environmental regulations.

“There’s a number of different factors that we’re looking at,” said Spokesperson for SaskPower, Tyler Hopson. “We are focusing on investing in infrastructure to keep that existing electrical system strong and repair some of the effects of age over the years. Much of the system is old and is in need of some repairs, so we’re doing that work. We’re also seeing some big spikes in demand for electricity. In fact it’s gone up nearly 10 per cent in just two years. I think a lot of that is a result of more customers in the province, more business and industry, all of those factors involve more power, so we’re seeing increased usage as the population grows.”

“These days most of us tend to have more electronic devices at home and at work that we’re plugging in, so it all uses more power,” he added. “We do have programs out there to help customers save power and learn more efficient ways to use, but we are seeing an overall increase in demand. There’s quite a bit of work to do both with the old parts of the grid as well as the new, so it all does cost money and we’re keeping up with it as best we can but we expect we’ll have another several big years along those lines as we continue to do that work and upgrade our equipment.”

SaskPower also underwent the successful launch of the Boundary Dam carbon capture and storage project, and continued construction on the Shand Carbon Capture Test Facility, scheduled to be completed later this year.

via Local News

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