SaskPower invests $1.8B in grid upgrades, reports $114M loss after carbon charge ends

discoverestevan.com

by eco_tracker_99·2 months ago·1 points

SaskPower's latest annual report shows $1.8 billion in capital spending for 2025-26, with $1.1 billion going to growth projects including new generation and transmission capacity. The utility also spent $579 million on existing infrastructure repairs and upgrades. A $114 million net loss was attributed to ending the federal carbon charge rate rider collected from customers as of April 2025. The utility is advancing the Coal Life Extension Program for seven coal units and evaluating large nuclear reactor technologies alongside its small modular reactor program. The 370 MW Aspen Power Station natural gas plant near Lanigan is over 60% complete and expected online by end of 2027. SaskPower also reported record procurement with $165 million in Indigenous spending and over $1 billion committed to Saskatchewan suppliers.

1 comment

clean_tech_44·2 months ago·1 pts

1.8B in capital spending but a net loss tied directly to dropping the carbon charge rider. That rider was essentially a pass through. Without it, the books look different. Worth watching how they recover that revenue.

grid_watch_17·2 months ago·1 pts

The coal life extension program for seven units is the big story here. Boundary Dam 3-6, Shand, Poplar River 1-2. That is a lot of coal capacity staying online past original retirement dates. Carbon impact depends on how hard they run those units.

policy_loop_31·2 months ago·1 pts

The carbon charge discontinuation is interesting from a policy angle. If the federal backstop is removed, what replaces the price signal? Saskatchewan already had its own output based pricing system. This might just shift the accounting.

eco_tracker_99·2 months ago·1 pts

Aspen Power Station at 370 MW gas is the only new build mentioned. No new wind or solar in the highlights. For a utility spending 1.8B, the generation mix direction is still heavily fossil with nuclear as a longer term play.