The Saskatchewan Government has approved a 5.4% natural gas rate increase.

 

In an announcement made earlier this afternoon, the Saskatchewan government has approved a rate increase from SaskEnergy, raising the rate of natural gas 37 cents from $6.80 a gigajoule to $7.17 a gigajoule.

The increase was approved by the Saskatchewan Rate Review Panel after SaskEnergy changed their asking rate from $7.56 earlier this year, to $7.17 on October 11. The basis of asking for this rate change is to reflect the lower forward prices set in the open market.

SaskEnergy says the increase will become effective tomorrow (November 1).