SaskPower spent $1.8 billion in 2025-26 to modernize, grow and sustain the provincial electricity system. The company tabled its annual report today. 

“Saskatchewan is continuing to grow, and a safe, reliable, and affordable supply of power is more important than ever,” said Jeremy Harrison, Minister Responsible for SaskPower. “Guided by our Saskatchewan First Energy Security Strategy and Supply Plan, in 2025-26 SaskPower continued to maintain and grow the provincial power grid, and took concrete steps toward extending coal-fired generation as a bridge to nuclear power.”

“During the past year, SaskPower continued to make significant investments to modernize and grow Saskatchewan’s power system,” said Rupen Pandya, President and CEO of SaskPower. “We’re focused on delivering reliable, affordable power for our customers today while taking practical steps to prepare for the province’s future energy needs.”

The capital investment program included $1.1 billion on growth projects, such as new generation facilities and expanded grid capacity, and $579 million in sustainment activities to repair and upgrade aging generation, transmission and distribution infrastructure. And $116 million was spent on other strategic investments, such as continued work on the Regina Operations and Maintenance Complex.

SaskPower reported a net loss of $114 million for the past fiscal year. The $190 million decline in net income from 2024-25 was driven by the discontinuation of the federal carbon charge rate rider collected from customers effective April 1, 2025. The Crown Corporation’s balance sheet remains strong with a 78.9 per cent debt ratio.

Notable accomplishments for 2025-26 include:

• Initiated the Coal Life Extension Program as a bridge to nuclear power. The program will see life extension of all seven coal‑fired generating units — Boundary Dam Units 3, 4, 5 and 6, as well as Shand and Poplar River Units 1 and 2.
• Began the formal process to evaluate large nuclear reactor technologies for use in Saskatchewan. The technology selection process will take place in parallel with SaskPower’s existing nuclear small modular reactor project.
• Passed the 60% completion point in construction of the new 370‑MW natural gas‑fired Aspen Power Station near Lanigan. It is expected to reach commercial operation by the end of 2027.
• Reached a record $165 million in Indigenous procurement spending for 2025–26. This included Indigenous participation in major capital infrastructure projects, including multiple transmission line projects supporting key mining customers and northern communities.
• Achieved a record‑breaking $1 billion in procurement commitments with Saskatchewan suppliers in 2025–26. This reflects SaskPower’s continued focus on strengthening local supply chains, supporting Saskatchewan businesses and workers, and investing in unlocking new capabilities in the province.

To view the full annual report, visit saskpower.com/CurrentReports.

At a glance...

• SaskPower reported a net loss of $114 million in 2025-26
• The fiscal year also saw $1.8 billion invested in Saskatchewan’s electricity system 
• For the full 2025-26 annual report, go to saskpower.com/CurrentReports