SaskPower reported a net income of $184 million for the 2023-24 fiscal year as the company released its annual report Tuesday, despite incurring $646 million of increased debt.The net income represents a $356 million increase over 2022-23, and is owing to increased sales revenues and lower fuel costs. "In 2023-24, SaskPower made significant investments in Saskatchewan’s electricity system to meet the needs of our growing province," Minister Responsible for SaskPower Dustin Duncan said. "Another near-record capital investment of over $1.2 billion saw hundreds of millions of dollars invested in work from local and Indigenous businesses and contractors."The capital investment program included $520 million in sustainment activities to repair and upgrade ageing generation, transmission and distribution infrastructure and $621 million on growth projects such as new generation facilities and expanded grid capacity. About $72 million was spent on other strategic investments such as the Regina Operations and Maintenance Complex.SaskPower also remains on track to both reduce greenhouse gas (GHG) emissions by 50% from 2005 levels by 2030 and achieve net-zero emissions by 2050 or earlier. "SaskPower is undertaking its largest revitalization and growth initiative in its nearly century-long history, and in 2023-24 we continued to invest in lower-GHG and non-emitting generation options," SaskPower President and CEO Rupen Pandya said. "We have continued to make the necessary investments to ensure we can provide reliable, sustainable and affordable power to customers for many years to come." Other highlights from the past fiscal year include:Launching competitive procurement processes for 600 MW of new renewable generation - consisting of 200 MW solar generation and 400 MW wind generation - to be located in south-central Saskatchewan.Selecting Iyuhána Solar LP to build a 100-MW solar facility in the Estevan area that will be operational as early as December 2026.Advancing assessment of the long-term viability of nuclear small modular reactors as an emissions-free baseload option in Saskatchewan by signing two industry partnership agreements.Passing the 95% completion point on construction of the new 377-MW natural gas-fired Great Plains Power Station in Moose Jaw.Selecting Burns & McDonnell to be the engineering, procurement and construction partner for the 370-MW Aspen Power Station that will be located near Lanigan.Reaching a milestone of six million tonnes of carbon dioxide captured since start-up of the Boundary Dam Power Station Integrated Carbon Capture and Storage Facility.Completion of the second and third stages in a five-part public engagement project that saw more than 25,000 Saskatchewan residents take part in a conversation on our future supply planning.Contributed more than $1.8 million to educational and community initiatives across the province through our Corporate Contributions Program.To view the full annual report, visit: www.saskpower.com..This is what the Western Standard is up againstThe Trudeau government is funding lies and propaganda by directly subsidizing the mainstream media. They do this to entrench the powerful Eastern, woke and corrupt interests that dominate the political, social and economic institutions in Canada. Federal authorities are constantly trying to censor us and stop us from publishing the stories that they don’t want you to read. Ottawa may weaponize our taxes and police against us, but we’ve got a powerful ally on our side.You. Free men, and free women. We need you to stand with us and become a member of the Western Standard. Here’s what you will get for your membership:Unlimited access to all articles from the Western Standard, Alberta Report, West Coast Standard, and Saskatchewan Standard, with no paywall. Our daily newsletter delivered to your inbox. .Access to exclusive Member-only WS events.Keep the West’s leading independent media voice strong and free.If you can, please support us with a monthly or annual membership. It takes just a moment to set up, and you will be making a big impact on keeping one the last independent media outlets in Canada free from Ottawa’s corrupting influence.
SaskPower reported a net income of $184 million for the 2023-24 fiscal year as the company released its annual report Tuesday, despite incurring $646 million of increased debt.The net income represents a $356 million increase over 2022-23, and is owing to increased sales revenues and lower fuel costs. "In 2023-24, SaskPower made significant investments in Saskatchewan’s electricity system to meet the needs of our growing province," Minister Responsible for SaskPower Dustin Duncan said. "Another near-record capital investment of over $1.2 billion saw hundreds of millions of dollars invested in work from local and Indigenous businesses and contractors."The capital investment program included $520 million in sustainment activities to repair and upgrade ageing generation, transmission and distribution infrastructure and $621 million on growth projects such as new generation facilities and expanded grid capacity. About $72 million was spent on other strategic investments such as the Regina Operations and Maintenance Complex.SaskPower also remains on track to both reduce greenhouse gas (GHG) emissions by 50% from 2005 levels by 2030 and achieve net-zero emissions by 2050 or earlier. "SaskPower is undertaking its largest revitalization and growth initiative in its nearly century-long history, and in 2023-24 we continued to invest in lower-GHG and non-emitting generation options," SaskPower President and CEO Rupen Pandya said. "We have continued to make the necessary investments to ensure we can provide reliable, sustainable and affordable power to customers for many years to come." Other highlights from the past fiscal year include:Launching competitive procurement processes for 600 MW of new renewable generation - consisting of 200 MW solar generation and 400 MW wind generation - to be located in south-central Saskatchewan.Selecting Iyuhána Solar LP to build a 100-MW solar facility in the Estevan area that will be operational as early as December 2026.Advancing assessment of the long-term viability of nuclear small modular reactors as an emissions-free baseload option in Saskatchewan by signing two industry partnership agreements.Passing the 95% completion point on construction of the new 377-MW natural gas-fired Great Plains Power Station in Moose Jaw.Selecting Burns & McDonnell to be the engineering, procurement and construction partner for the 370-MW Aspen Power Station that will be located near Lanigan.Reaching a milestone of six million tonnes of carbon dioxide captured since start-up of the Boundary Dam Power Station Integrated Carbon Capture and Storage Facility.Completion of the second and third stages in a five-part public engagement project that saw more than 25,000 Saskatchewan residents take part in a conversation on our future supply planning.Contributed more than $1.8 million to educational and community initiatives across the province through our Corporate Contributions Program.To view the full annual report, visit: www.saskpower.com..This is what the Western Standard is up againstThe Trudeau government is funding lies and propaganda by directly subsidizing the mainstream media. They do this to entrench the powerful Eastern, woke and corrupt interests that dominate the political, social and economic institutions in Canada. Federal authorities are constantly trying to censor us and stop us from publishing the stories that they don’t want you to read. Ottawa may weaponize our taxes and police against us, but we’ve got a powerful ally on our side.You. Free men, and free women. We need you to stand with us and become a member of the Western Standard. Here’s what you will get for your membership:Unlimited access to all articles from the Western Standard, Alberta Report, West Coast Standard, and Saskatchewan Standard, with no paywall. Our daily newsletter delivered to your inbox. .Access to exclusive Member-only WS events.Keep the West’s leading independent media voice strong and free.If you can, please support us with a monthly or annual membership. It takes just a moment to set up, and you will be making a big impact on keeping one the last independent media outlets in Canada free from Ottawa’s corrupting influence.
