SaskPower stated a net income of $205 million for 2019-20 on July 6, as the company listed their annual report at the Legislative Assembly of Saskatchewan, signifying an $8 million surge in net income for the Crown electrical utility over the period of 2018-19.聽
鈥淩eliable, sustainable and cost-effective electricity is crucial to achieving the economic goals laid out in the Government of Saskatchewan鈥檚 Growth Plan and the emissions reductions targets outlined in Prairie Resilience, our made-in-Saskatchewan climate change strategy,鈥� Minister Responsible for SaskPower Dustin Duncan said.
鈥淒uring the past year, SaskPower has continued demonstrating its leadership in powering homes and businesses province-wide, while laying the groundwork for a lower-carbon future,鈥� the minister continued.聽
During 2019-20, SaskPower delivered nearly $696 million for the provincial electricity system. This investment incorporated $374 million to repair and upgrade elderly generation, transmission and distribution infrastructure and $253 million on new projects, including generation facilities and expanded grid capacity.
About $69 million was spent on other strategic investments such as technology and security, Advanced Metering Infrastructure (AMI) and other developments.聽
鈥淒uring the past year, we continued to move toward our target to reduce carbon dioxide emissions 40 per cent from 2005 levels by 2030,鈥� SaskPower President and CEO Mike Marsh said.聽鈥淭he newly commissioned natural gas-fired Chinook Power Station will provide a stable source of baseload power, while enabling the ongoing addition of intermittent renewable generation capacity such as wind and solar generation.鈥澛�
Notable accomplishments for 2019-20 included the authorization of the new 353-megawatt (MW) natural gas-fired Chinook Power Station near Swift Current 鈥� said to be finished on time and under budget according to the Crown corporation.
Also, another achievement for SaskPower involved the completion of the Pasqua to Swift Current Transmission Line 鈥� a $185 million project stretching 200 kilometres, which will move electricity from the new Chinook Power Station, while supporting future wind generation developments.
SaskPower also submitted a publication of a Request for Proposal (RFP) phase of the new 350-MW natural gas-fired Great Plains Power Station, to be situated in Moose Jaw 鈥� the plant is predicted to be operational by 2024.
A new competitive solicitation for up to 300-MW of wind-generated power will be developed and operational by the end of 2023 in concurrence with SaskPower鈥檚 estimates.
SaskPower also publicized a 25-year power purchase agreement with Meadow Lake Tribal Council for up to 8-MW of biomass-generated electricity from a facility neighbouring the NorSask Sawmill positioned near Meadow Lake.
SaskPower signed a 20-MW utility-scale solar Opportunity Agreement with First Nations Power Authority to safeguard the advancement of First Nations-led projects approximated at $85 million in value over 20 years.
Work will continue on a $248 million project meant to prolong the lifespan of the 289-MW E.B. Campbell Hydroelectric Station near Nipawin.
A total of 23 new customer projects were approved, bringing 34-MW of solar and carbon-neutral flare gas projects to the grid as part of Saskatchewan鈥檚 Power Generation Partner Program.
Finally, SaskPower earned the Achievement of the Canadian Electricity Association Sustainable Electricity Company Designation 鈥� this feat was an acknowledgement of SaskPower鈥檚 pledge in concerns to social responsibility and sustainable growth in the province.
