SaskPower reports $205M income in 2019-20, tables annual report

SaskPower releases annual report WATCH: Even though SaskPower is reporting a surplus, COVID-19 could hurt its bottom line in 2020. Wayne Mantyka reports.

REGINA — SaskPower presented its annual report on Monday, with a net income of $205 million in 2019-20.

This figure shows an increase of $8 million from 2018-19.

“Reliable, sustainable and cost-effective electricity is crucial to achieving the economic goals laid out in the Government of Saskatchewan’s Growth Plan and the emissions reductions targets outlined in Prairie Resilience, our made-in-Saskatchewan climate change strategy,” Minister Responsible for SaskPower Dustin Duncan said.

In the last year, SaskPower has repaired and upgraded old infrastructure, invested in growth projects and increased grid capacity.

“During the past year, we continued to move toward our target to reduce carbon dioxide emissions 40 per cent from 2005 levels by 2030,” SaskPower President and CEO Mike Marsh said. “The newly commissioned natural gas-fired Chinook Power Station will provide a stable source of baseload power while enabling the ongoing addition of intermittent renewable generation capacity such as wind and solar generation.”

The full report can be read here.