SaskPower has the provincial government’s permission to proceed with a three per cent rate hike effective Jan. 1.
The Wall government announced the decision Wednesday, noting that the increase was originally going to be five per cent.
“Saskatchewan’s power infrastructure is aging and needs to be replaced,” Minister responsible for SaskPower Bill Boyd said.
“This increase is necessary to ensure every resident and business in Saskatchewan has a reliable and secure source of power.”
Boyd said an improved financial outlook for SaskPower allowed for the reduction in the Jan. 1 increase.
“The company is always looking for ways to reduce operational costs and find business efficiencies, at the same time balancing the need to invest for Saskatchewan’s future power needs,” he added.
The province has also given permanent approval to a 5.5 per cent rate hike that was implemented on an interim basis on Jan. 1, 2014.
The opposition NDP has expressed concerns about the rising power rates, particularly in light of other cost-of-living increases.
