SaskPower rate hike to cost you $20 more per year

Starting on September 1, SaskPower customers can get ready to pay an average of $20 more per year for power.

The crown corporation is boosting power bills by an extra two per cent. This rate hike comes on top of a three per cent rate increase announced earlier this year.
SaskPower is able to make this change now because the Rate Review Panel approved a full five per cent increase for this year. In a news release SaskPower said the extra money is needed after a summer of storms and wildfires.

“In light of our challenges with maintaining and renewing aging infrastructure, new peak power demand for winter and summer 2015, as well as damage from large storms and wildfires, the full increase is needed to continue to provide reliable and sustainable power for the people of Saskatchewan,” SaskPower CEO Mike Marsh said in a news release.

The increase will add up to an average of $1.70 extra on a monthly residential power bill.