Sask. NDP warns of bill hikes as Crown corporations report drop in net earnings

Aishwarya Dudha · CBC News

· Posted: Jun 24, 2025 10:57 AM EDT | Last Updated: 1 hr ago

The CEO of SaskPower says customers tin expect complaint increases arsenic the Crown corp faces rising request and unit connected its infrastructure.

In the release of Crown corp yearly reports connected Monday, SaskPower reported nett net of $75.7 cardinal successful 2024-25, down $108.9 cardinal from the erstwhile year. It attributes the alteration to powerfulness energy exports and lawsuit contributions. 

SaskPower's spending besides dropped, chiefly owed to little substance and purchased powerfulness costs.

CEO Rupen Pandya said request connected the grid is expected to treble by 2050, requiring large investment.

"Between 2025 and 2050, to deploy different 5,000 oregon 6,000 megawatts of powerfulness volition beryllium an unprecedented challenge," Pandya said. 

He said request from electrical vehicles, AI information centres and concern maturation are driving that projection. 

Pandya said that aboriginal complaint increases are expected, but volition they spell done the Rate Review Panel earlier being implemented. 

"We anticipation to support those arsenic humble arsenic possible," helium said. 

Saskatchewan's crown corporations reported the highest ever superior spending and grounds revenues successful 2024-25; however, nett net declined compared to the erstwhile year, according to the Crown Investments Corporation's (CIC) yearly report.

CIC functions arsenic a holding institution for the assorted Crown corporations successful the province, specified arsenic SaskTel and Lotteries and Gaming Saskatchewan.

The authorities says nett income was $510 million, down from $578 million the erstwhile year. Almost fractional of earnings — $240 million — was directed to the province's wide gross fund.

Jeremy Harrison, the curate liable for CIC, said the wide gross money helps wage for things similar acquisition and wellness care.

"Our Crowns delivered the second-lowest full outgo inferior bundle successful Canada successful 20224-25 and offered immoderate of the lowest car security and earthy state commodity rates successful the full country," Harrison said. 

Aleana Young, SaskPower professional for the Sask. NDP, said the dip successful net and rising debts bespeak the Crown corporations are nether fiscal strain. 

"When profits autumn and indebtedness climbs, complaint hikes follow," she said astatine a quality league Monday. "It's lone a substance of clip earlier the Sask. Party raises your powerfulness bills yet again."

The NDP also flagged that the SGI Auto Fund saw a 4th consecutive twelvemonth of losses successful the Rate Stabilization Reserve with astir $200 cardinal mislaid past year. Meanwhile, SGI posted $43.2 cardinal successful nett earnings. 

"SGI is expected to run the Auto Fund connected a break-even ground and support rates affordable for Saskatchewan families," said Hugh Gordon, the shadiness curate for SGI said a press release. "With years of losses successful SGI's complaint stabilization money nether the Sask. Party's watch, Saskatchewan radical are going to beryllium forced to wage higher premiums."  

SaskTel faces accrued competition, declining profits

SaskTel earned $82.2 cardinal successful nett income successful 2024–25, down $13.2 cardinal from 2023-24.

It spent $398.5 cardinal successful superior investments, up $30 cardinal from the past fiscal year. The corporations said that's mostly owed to accrued wireless instrumentality costs.

"We're going to person to enactment connected being an businesslike institution … we're present to vie and we're surely poised to bash that," said Jeff Welke, SaskTel's director of firm affairs.  

According to the report, much than 77 per cent of Saskatchewan homes and businesses present person entree to infiNET, SaskTel's fibre optic network.

SaskEnergy issues rebates

SaskEnergy reported a nett income of $82 cardinal earlier marketplace worth adjustments, up $27.9 cardinal from 2023-24 This is primarily owed to increases successful halfway transportation and proscription revenues.

According to the report, it returned $31.8 cardinal to the authorities successful the signifier of dividends, up from $20.6 cardinal past year. It besides issued $5 cardinal successful vigor rebates.