Tag Archives: Saskatchewan

Dividend Of $39 Million Declared As Safety, Reliability And Growth Highlight Saskenergy’S 2017-18 Annual Report

Safety remained a core focus in 2017-18 as the corporation dedicated $109 million toward increasing safety across its more than 85,000 kilometres of pipelines. SaskEnergy continued to upgrade service connections, and its damage prevention program resulted in a 3.5 per cent reduction in pipelines damaged by unsafe digging — part of a 37 per cent reduction in incidents since 2013.

In 2017-18, SaskEnergy invested in projects to move high pressure transmission pipelines away from cities, while significantly increasing capacity to serve the growing number of homes, businesses and industries that rely on natural gas.

“SaskEnergy is making significant investments in expanded pipeline capacity and in the additional gas supply needed to fill those lines, in order to meet rising customer demands for natural gas into the future,” Minister responsible for SaskEnergy Bronwyn Eyre said. “The company’s focus on reliability means most homes or businesses have never had an unplanned loss of natural gas service, something we all depended upon this past winter when three new natural gas consumption records were set during cold snaps.”

In 2017-18, SaskEnergy recorded income before unrealized market value adjustments of $110 million, compared to $70 million for the 12-month period ending March 31, 2017. The corporation declared a dividend of $39 million to Crown Investments Corporation (CIC), based on 2017-18 income before unrealized market value adjustments. Unrealized market value adjustments were favourable in 2017-18, resulting in a consolidated net income of $144 million.

Accounting standards require SaskEnergy to report its natural gas purchase and sales contracts at their market price on the financial statement reporting date. The difference between the contract price and the price on the financial statement reporting date is recorded as an unrealized market value adjustment on the statement of comprehensive income. These adjustments are non-cash items and therefore they do not result in any cash inflow or outflow to the corporation.

SaskEnergy added more than 3,700 new customers to its distribution system, bringing its total customer base to more than 394,000. SaskEnergy has added more than 58,000 new customers during the last 10 years. At the same time, a continued focus on efficiency gains resulted in $4.2 million in cost reductions throughout 2017-18, bringing efficiency savings to $48 million since 2009.

Annual transmission volumes totaled 350 Petajoules (PJ) an increase of 24 PJ, or seven per cent, from a year ago. This growth was supported by significant system investments to connect customers in a wide range of key industries, including power production and enhanced oil recovery.

“Natural gas is the fuel of choice for new businesses and homes, as well as for major industry, and by providing the pipeline infrastructure for these investments, SaskEnergy will continue to support strong economic growth for Saskatchewan,” Eyre said.

Other 2017-18 operational highlights include:
Provided competitive residential delivery rates to customers, offering among the lowest rates in the country and the lowest delivery rate in Western Canada.
The corporation obtained an overall audit score of 90 per cent in the Energy Safety Canada Certificate of Recognition program, which evaluates an organization’s safety programs against provincial and industry standards.
SaskEnergy developed a standard for installing technology on new mobile compressor units to reduce greenhouse gas emissions and operating costs.
The installation of an additional 31,773 Advanced Metering Infrastructure modules throughout the province, bringing the total to 94 per cent of SaskEnergy distribution meters.

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Source: Dividend Of $39 Million Declared As Safety, Reliability And Growth Highlight Saskenergy’S 2017-18 Annual Report

Saskpower Forecasts Continued Growth In Power Demand

Annual Report Details Net Income of $146 Million

In 2017-18, SaskPower invested $996 million into the provincial power grid. The investment represents important projects to update the aging power grid in order to improve the reliability of the network, and continue to support economic growth in the province. While meeting a 5.4 per cent increase in power demand, SaskPower also kept on track to meet and exceed federal emission regulations by 2030.

“SaskPower continues to invest in our growing population and economy,” Minister Responsible for SaskPower Dustin Duncan said. “We need reliable, cost-effective electricity to maintain our quality of life, to keep our industries competitive and to continue job growth in Saskatchewan. We also need environmentally sustainable power and that’s why SaskPower is leading the way to cut its emissions by 40 per cent from 2005 levels, by 2030. We continue to show that we can manage and reduce our environmental impact in an economically responsible way.”

“Every winter, we continue to see new peak power demand records being set,” SaskPower President and CEO Mike Marsh said. “The increase in energy use last year is the equivalent of adding 150,000 homes onto the grid. That’s why we will continue to invest approximately a billion dollars annually in updating and growing electrical infrastructure in the province.”

In 2017-18, SaskPower recorded a net income of $146 million, up from $56 million in 2016-17. This result was primarily due to lower natural gas prices, the significant increase in demand, and recent rate increases. This brings SaskPower’s debt ratio to 74.9 per cent, within the company’s target range.

While investing in infrastructure, SaskPower continued to optimise its internal costs. Since 2015, the corporation has saved $115 million in budgeted operation, maintenance and administration spending. SaskPower was also honoured once again this year with recognition as one of Saskatchewan’s Top Employers, Canada’s Top Diversity Employers and Canada’s Top Employers for Young People.

SaskPower’s 2017-18 annual report is available at www.saskpower.com/about-us/our-company/current-reports.
2017-18 investment highlights:

On time and on budget, construction is halfway complete on the Chinook Power Station, a 350 MW natural gas plant, near Swift Current;
Construction also continued on the $231 million, 200-kilometre transmission line from Swift Current to Moose Jaw;
The carbon capture and storage process at Boundary Dam Power Station surpassed two million tonnes of captured carbon dioxide since start-up, the equivalent of removing 500,000 vehicles from Saskatchewan roads;
We concluded the competitive process on Saskatchewan’s first 10 MW utility-scale solar project;
The request for proposals for up to 200 megawatts of new wind generation was completed, and an announcement is expected this fall;
The corporation invested $153 million to connect new customers to the grid;
The Canadian Council for Aboriginal Business awarded SaskPower with Progressive Aboriginal Relations Gold-level certification; and
SaskPower allocated $1.7 million in educational programming and community investment.

Source: Saskpower Forecasts Continued Growth In Power Demand

Gull Lake Awarded Hockey Day in Saskatchewan

Gull Lake Awarded Hockey Day in Saskatchewan GULL LAKE SouthWest Saskatchewan Tourism  Volunteers Saskatchewan Gull Lake Recreation Complex Events

Wednesday, June 6, 2018 – Hockey Day in Saskatchewan will head to Gull Lake for a celebration of hockey and community spirit in January.

The Gull Lake organizing committee will now begin the planning phase of the event as well as the recruitment of local volunteers. Hockey Day in Saskatchewan is scheduled to take place January 18-20th, 2019.

Full details on the event will be released at the official Hockey Day in Saskatchewan announcement and launch planned to take place in the fall.

Video Credit: Landing Studio (Swift Current)

Visit the Hockey Day in Saskatchewan website to look back on past Hockey Day events in the province.

To volunteer for the event, please contact:

Tracey Stenson

Gull Lake Host Committee

tmstenson@gmail.com

For more information about Hockey Day in Saskatchewan, please contact:

Sheri Trapp

Manager, Marketing & Communications
Saskatchewan Hockey Association

SheriT@sha.sk.ca or (306) 789-5101

Source: https://sha.sk.ca/news/archives/gull-lake-awarded-hockey-day-in-saskatchewan

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