SaskPower has applied for a five per cent rate hike beginning at the start of next year.

SaskPower president and CEO Robert Watson says as our province grows so does our need for power.

"The capital is for building new power production, renovating existing power production or building new transmission and distribution facilities or renovating it," said Watson.

The province has been consistently shattering old records for energy use – the latest was hit on January 18, 2012 when a total of 3,265 megawatts were used at 6:37 p.m. Unlike some of the capacity problems that have caused rolling black outs for our neighbours in Alberta, the folks at SaskPower have been trying to stay ahead. The current capacity is for 4,000 megawatts and will continue to grow.

SaskPower is planning to spend $10 billion over the next decade. Some of the big projects include a carbon capture and storage project at the Boundary Dam Power Station, and expansions at Queen Elizabeth Power Station.

The hike translates to roughly an extra $4 per month for a house in the city and $10 for a farm.
 
It's been two years since the last hike, but Watson adds continued hikes are probable into the future. Some of the saving graces of the two years were the low cost of natural gas, and reductions in operating costs.

The Crown utility will see their application reviewed by the Saskatchewan Rate Review Panel before any rate hike is approved.

Edited by CJME's Karen Brownlee.