SaskPower is looking to have a 5% rate increase, if approved the increase will take effect on March 1st, 2018.

"Our mission at SaskPower is to ensure reliable, sustainable and cost effective power for our customers and the communities we serve. In order to keep providing for the people of Saskatchewan, we will need additional funding in the coming year. SaskPower has submitted a rate application to the Saskatchewan Rate Review Panel requesting a rate increase of 5% effective March 1st 2018, residential bills will go up about $6.00 per month," explained Mike March the CEO of SaskPower.

"I think the reality is as the system continues to grow in the province despite the economic slow down we're seeing continual growth on the electricity side. There's a continual increase in customers being connected to the grid, that requires investment. That energy has to come from somewhere and the lines have to be built to get it to customers in the province and that's what we're trying to do."

The rate increase will also help pay for upcoming projects. 

"Some of our future projects to help us accomodate growth include construction of the Pasqua to Swift Current transmission line, expected to be completed 2019 with an estimated cost of 223 million dollars and the construction of the Chinook Power Station in service in 2019 with an estimated cost of about 680 million dollars." 

"A few future projects to sustain our electricity system include life extending or replacing transmission wood poles at a cost of 320 million over the next 5 years. Life extending or replacing distribution wood poles at a cost of 150 million over the next 5 years and  improving the reliability to our rural rebuild and improvement program at a cost of 104 million over the next 5 years," he stated. 

Customers can contact Saskpower if they have any concerns. 

"I would like to encourage our customers and stakeholders to participate in the public review proccess being led by the Saskatchewan Rate Review Pannel over the next 5 months. Our company will be responding to all submissions while also listening to the views of all the participants." 

On July 10th the Saskatchewan power grid registered a demand of 3,360 megawatts, breaking the previous record.

"The bulk of the energy in this province is serving industrial load in the province, 2/3 of the energy we produce in this province serves industrial load. There's a significant amount of expansion in the last few years that has gone to serve that industrial load," shared Mike.

"The 5% increase on average will bring about 124 million on an annual basis."