SaskEnergy rates set to decrease as weather gets colder

Saskatchewan residents could see their SaskEnergy bill go down by almost eight per cent heading into October.

The province approved SaskEnergy’s commodity rate decrease of 24.5 per cent and said starting on Oct. 1, the rate adjustment will result in an overall natural gas bill decrease of 7.8 per cent (about $6.52 per month).

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“Affordability is front and centre in all utility rate decisions in Saskatchewan,” said Dustin Duncan, Minister Responsible for SaskEnergy.

“SaskEnergy has done solid work on managing fluctuating markets by using its hedging program to lock in natural gas at beneficial prices. That hedging strategy provides price stability and shields customers from the extremes of market volatility.”

This decrease follows a multi-year application to the Saskatchewan Rate Review Panel in 2022 to increase delivery rates, which the panel suggested a deferral of.

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A rate hike application of five per cent was also cancelled by the province in April, with the province claiming total utility costs were expected to be the second lowest among all provinces in 2022-23 and 2023-24.

“We have a responsibility to provide affordable service to our customers while also investing in the maintenance and growth of our system,” said SaskEnergy’s president and CEO Mark Guillet.

“This rate adjustment allows us to provide lower bills for customers while also addressing inflationary pressures we have been managing, such as rising fuel and operating expenses.”

In June, SaskEnergy applied for a rate adjustment, with the panel recommending a commodity rate decrease, but a delivery service increase.