SaskPower reports $46M profit, says rates still may go up

(File photo)

SaskPower is reporting a profit for 2016-17, but it may not be enough to avoid a future rate increase.

The Crown-owned utility earned an income of $46 million on $2.4 billion in sales. The margin is too small to pay a dividend to the provincial government.

SaskPower says its rates may have to go up to cover future expansion.

Last week, SaskEnergy applied to the province’s rate review panel for a 2.3 per cent rate increase.