Energy & Power
Transmission & Distribution
SaskPower invests in renewing grid; impacts 2014 income
By Renée Francoeur
April 16, 2015 – SaskPower says it invested $1.279 billion into Saskatchewan’s electrical grid in 2014, as “aging infrastructure, increasing demand and changing environmental regulations” continued to be a challenge.
SaskPower tabled its 2014 Annual Report in the Saskatchewan Legislative Assembly recently, reporting an operating income of $43 million in 2014 on over $2 billion in revenue.
“Our province is focusing on investing in infrastructure to keep our province strong, and that includes our electrical grid,” the minister responsible for SaskPower Bill Boyd said. “Those investments do have an impact on SaskPower’s annual income, but they are necessary to renew and improve the system and meet increasing demand for electricity in our growing province.”
SaskPower is operating in a challenging environment, like many electrical utilities, said president and CEO Mike Marsh. “Demand for electricity has grown nearly 10% in just two years, and our peak demand continues to break records,” he said. “It’s critical that we invest in renewing and maintaining our system so that we are positioned to supply reliable, affordable and sustainable power today and into the future.”
Some key SaskPower highlights from 2014 include:
• $409 million to upgrade power stations.
• $583 million to connect customers to the system, as well as transmission and distribution upgrades.
• The launch of the Boundary Dam carbon capture and storage project, the first of its kind in the world, according to SaskPower.
• Construction continued on the Shand Carbon Capture Test Facility, scheduled to be complete this year.
• Work continued on the expansion of the Queen Elizabeth Power Station in Saskatoon, which will add 205 megawatts to the grid when complete in 2015.
• Work on the $380 million I1K transmission line, which will run from Island Falls to Key Lake to serve industry and improve reliability in the province’s north.