Delivering for Customers, Communities and Saskatchewan: SaskEnergy 2024-25 Annual Report

CANADA, June 24 - Released on June 23, 2025

In 2024-25, SaskEnergy demonstrated its commitment to providing safe, reliable and affordable energy to the residents, businesses and industries of Saskatchewan as the demand for natural gas in the province continues to grow.

"With Saskatchewan having one of the fastest growing economies in Canada and a record high population, there is an increasing demand for natural gas," Minister Responsible for SaskEnergy Jeremy Harrison said. "SaskEnergy continues to reliably meet this demand, investing in system expansion, enhancing customer service, supporting energy efficiency and maintaining stable, affordable rates for Saskatchewan families, businesses and industries."

In 2024-25, SaskEnergy invested $171 million in system expansion and reliability initiatives. The Corporation completed system expansion projects to serve new and expanding customer operations in enhanced oil recovery, potash production and power generation, as well as projects to support growth and reliability in the Regina area. 

SaskEnergy leveraged strong operating and financial results, along with ongoing efficiency efforts, to ensure that the average total natural gas bills for residential customers remained competitive in 2024-25, with delivery rates among the lowest in Canada.

SaskEnergy continues to assist its customers in reducing their energy use, while also lowering their monthly bills. In 2024-25, SaskEnergy maintained its range of energy efficiency incentives for residential and commercial customers, including the Residential Equipment Replacement Rebate, First Nations Furnace Replacement Rebate and Homes Beyond Code rebate. Through these programs, $5 million in rebates were provided to residential and commercial customers who made energy-efficiency improvements to their homes and businesses. 

"SaskEnergy's ability to deliver safe, reliable and accessible service, while providing competitive rates and high levels of customer service, to our nearly 415,000 customers is a testament to the hard work and dedication of our more than 1,200 employees across the province," SaskEnergy President and CEO Mark Guillet said. 

"While investing in our system and our customer base, we are also dedicated to strengthening Saskatchewan's economy by investing in its people and businesses. In 2024-25, we purchased nearly $300 million in goods and services from local vendors, which accounted for 66 per cent of our procurement spending. In addition, $33.2 million in contracts were awarded to Saskatchewan businesses with Indigenous ownership or Indigenous workforce representation."

In 2024-25, SaskEnergy recorded a net income before unrealized market value adjustments of $82 million, compared to $55 million the year prior. The increase is primarily driven by year-over-year increases in delivery and transportations revenues, as well as higher customer contributions to capital projects.

SaskEnergy declared a dividend of $31 million to Crown Investments Corporation (CIC) based on income before unrealized market value adjustments. 

Other highlights for 2024-25 include:

• Capital spending of $265.8 million net of customer capital contributions.
• Celebrated the 30th anniversary of SaskEnergy's Share the Warmth program - marking the milestone by providing grants of up to $1,000 to more than 100 community-based organizations.
• Supported 622 programs and events in 268 communities through community investment initiatives.
• Signed a Memorandum of Understanding with the First Nations Power Authority to explore energy security solutions for First Nations communities and increase Indigenous economic participation through cleaner energy initiatives.
• Achieved $5.6 million in cost savings through efficient procurement practices.
• Received national recognition for the third consecutive year as one of Canada's Top 100 Employers.
• Reduced emissions from its operations by 18,000 tonnes of carbon dioxide equivalent (CO2e). 

View SaskEnergy's 2024-25 Annual Report here.

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