Two of Saskatchewan's major Crown corporations are seeking approval to raise their rates for the 2026-27 fiscal year, a move that will impact household budgets across the province. SaskPower and Saskatchewan Government Insurance (SGI) have each submitted applications to their respective regulators for increases of nearly four percent.
Details of the Proposed Increases
The rate adjustment requests were made public at the start of the new year. SaskPower is asking for a 3.9 percent increase in electricity rates for the period covering April 1, 2026, to March 31, 2027. This follows a pattern of incremental increases to fund infrastructure renewal and the transition to more diverse energy sources.
Similarly, SGI has applied for a 3.8 percent increase on its basic auto insurance premiums for the same fiscal year. The corporation cites rising costs associated with vehicle repairs, medical claims, and litigation as the primary drivers behind the need for higher rates. Both proposals are now subject to review and public consultation processes before final approval.
Impact on Saskatchewan Residents and Businesses
If approved, the combined effect of these hikes will add to the cost of living for families and operational expenses for businesses in Saskatchewan. For a typical household, the SaskPower increase could mean an additional few dollars per month on the electricity bill. The SGI increase would directly affect the premium for every driver insured under the province's mandatory basic auto insurance plan.
The timing of these requests is notable, as they come amid broader economic forecasts. Analysts expect the cost of living in Saskatchewan to continue rising in 2026, making these proposed increases a point of financial concern for many residents. The Crown corporations argue that the adjustments are necessary to maintain reliable service and financial stability without resorting to larger, more abrupt hikes in the future.
Regulatory Process and Public Input
The applications from SaskPower and SGI will now undergo a thorough examination. SaskPower's request will be reviewed by the Saskatchewan Rate Review Panel, while SGI's proposal goes before the Saskatchewan Auto Fund Rate Board. These independent bodies will evaluate the justifications for the increases, considering evidence from the corporations and submissions from the public.
Interested individuals and stakeholder groups will have an opportunity to provide feedback during the public consultation phases of these reviews. The final decisions on the exact rate percentages are expected later in 2025, well before the proposed April 2026 implementation date. The outcomes will set the financial tone for utility and insurance costs in the province for the following year.
