SaskPower posts $136M loss in first quarter; NDP warns rate hikes likely

SaskPower is facing a $136-million loss in the first three months of the 2025-26 fiscal year, prompting warnings from Saskatchewan’s NDP that residents may see increases on their electricity bills.

The Crown utility’s first-quarter financial statements, released this week, show the corporation is moving further into the red, with debt levels rising. The provincial government had projected $126 million in net income for the year in the 2025-26 budget.

“Saskatchewan people are already paying some of the highest power bills in Canada,” said SaskPower Shadow Minister Aleana Young. “This report shows that the Sask. The party’s mismanagement is pushing SaskPower deep into the red, something we’ll all have to pay for with more Sask. Party rate hikes.”

Young criticized the Sask. Party for retrofitting legacy power plants without prioritizing affordability, citing a Globe and Mail report that indicated cost concerns did not factor heavily into the government’s decisions.

“The Sask. Party have said the quiet part out loud: that they don’t care about affordability,” Young said. “Now they’re going to have to increase electrical rates to pay for their mismanagement, scandal, and waste at SaskPower.”

SaskPower’s financial performance is being closely watched by both the government and consumers, as the utility navigates operational challenges and rising costs.