Proposed SaskEnergy rate increase would charge customers an additional $74 per year

REGINA — Saskatchewan residents will be paying around $75 more per year for heat, under a recommended increase to SaskEnergy’s natural gas commodity rate.

Saskatchewan’s Rate Review Panel has recommended the provincial government approve SaskEnergy’s application to increase its commodity rate by 28.1 per cent to 12.78 cents per cubic metre, or $3.20 per gigajoule.

The increase will help pay off the outstanding balance in the Gas Cost Variance Account (GCVA) by Oct. 31, 2023.

“This two year period is designed to reduce financial pressures on SaskEnergy customers and provide greater rate stability,” the review panel said in a release.

While the additional costs will vary by customer, on average residential customers will see an increase of $74 per year, $361 for small commercial customers and $4,713 for large commercial customers.

The rate increase would come into effect on Nov. 1, 2021.

The release said the increase is recommended due to a forecasted increase in the cost of natural gas in the coming year.