REGINA – The province announced today that they are reducing SaskPower’s proposed 2015 rate increase.
Initially, SaskPower was hoping the government would approve an increase of 5 per cent but because of an improved financial outlook for 2015, the province has decided a 3 per cent increase will suffice.
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“Saskatchewan’s power infrastructure is aging and needs to be replaced,” said Bill Boyd, the minister responsible for SaskPower.
“Our province’s economy and population is growing, creating greater demand for power. This increase is necessary to ensure every resident and business in Saskatchewan has a reliable and secure source of power.”
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The new 3 per cent increase for 2015 will mean an additional $3 per month (on average) for urban residential customers.
SaskPower says the idea is to maintain competitive and affordable rates while still trying to address Saskatchewan’s aging electrical infrastructure.
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