The NDP Opposition called the announcement of a rate hike on a summer day before the long weekend \u0022a cowardly move.\u0022
The Crown electrical utility’s rates will increase four per cent this fall, and another four per cent in 2023. According to a government news release issued Thursday, the new rates will result in an average increase of approximately $5 on residential customers’ bills starting on Sept. 1, 2022, and an additional $5 on April 1, 2023.
But NDP SaskPower critic Aleana Young says the rate hike is coming just as businesses and industries are struggling in an “affordability crisis.” The province noted natural gas is the largest generation source in SaskPower’s fleet. As federal regulations require the elimination of conventional coal generation in Canada by 2030, SaskPower’s reliance on natural gas generation is expected to grow. Fuel and Purchased Power expense increases are largely driven by increased natural gas prices, and SaskPower’s fuel and purchased power expense is expected to increase from $715 million in 2020-21 to $1.069 billion in 2023-24.
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