Saskatchewan residents could see their SaskEnergy bill drop by almost eight per cent by October.
The province approved lowering SaskEnergy’s rates by 24.5 percent and said that effective October 1, the rate adjustment would result in an overall decrease in the natural gas bill of 7.8 percent (approximately $6.52 per month).
“Affordability is at the heart of all utility rate decisions in Saskatchewan,” said Dustin Duncan, Minister responsible for SaskEnergy.
“SaskEnergy has done a solid job managing market fluctuations by using its hedging program to lock in natural gas at favorable prices. This hedging strategy ensures price stability and protects clients from the extremes of market volatility.
The decrease follows a multi-year request filed with the Saskatchewan Rate Review Panel in 2022 to increase delivery rates, which the committee suggested should be postponed.
A request for a 5 per cent rate increase was also rescinded by the province in April, with the province saying total utility costs are expected to be the second lowest of all provinces in 2022-23 and 2023-24.
“We have a responsibility to provide affordable service to our customers while investing in the maintenance and growth of our system,” said Mark Guillet, President and CEO of SaskEnergy.
“This rate adjustment allows us to reduce customer bills while combating the inflationary pressures we manage, such as rising fuel and operating expenses.”
In June, SaskEnergy requested a rate adjustment, with the committee recommending lower commodity rates but an increase in delivery services.
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