SASKPOWER MAKES RECORD INFRASTRUCTURE INVESTMENT WHILE POSTING SOLID FINANCIAL RESULTS

During today's tabling of its 2009 Annual Report in the Saskatchewan Legislative Assembly, SaskPower reported an operating income of $93 million. Its year-end financial position means the corporation maintains a relatively strong balance sheet that compares favourably with other Crown utilities in Canada.

In 2009, SaskPower continued a recent trend of setting new firsts on a number of financial and operational fronts: record investment in the province's electrical infrastructure; record peak load (total power required by customers at one time); record transmission service connections to industrial customers; record coal-fired generating unit availability; and record safety performance.

"In order to ensure Saskatchewan is well positioned for ongoing growth, in 2009 SaskPower continued its multi-year capital program to ensure that our province's current and future energy supply is secure and reliable," Minister responsible for Saskatchewan Power Corporation Bill Boyd said. "In recognizing the importance of this investment in our province, for the first time since 1991 dividends declarable by SaskPower to Crown Investments Corporation of Saskatchewan were suspended. This will allow SaskPower to meet its infrastructure renewal and growth requirements while responsibly managing debt."

Key SaskPower highlights from 2009 include:

• New electricity and conservation strategy released to the Standing Committee on Crown and Central Agencies.
• Record $640 million investment in provincial electrical infrastructure.
• Record peak load of 3,231 megawatts (MW).
• Record transmission service connections completed to industrial customers.
• Record system wide generating unit availability.
• Record low lost days due to work-related injuries.
• Plan to double Saskatchewan wind power capacity announced.
• Three simple cycle gas turbine facilities totalling 340 MW commissioned or under construction.
• Two programs for private sector development of renewables announced.
• Power purchase agreement for 86 MW of natural gas-fired electricity signed with Northland Power.
• Farmyard Power Line Relocation Program and Rural Electrical Distribution Program introduced.
• Customer energy efficiency and conservation programs expanded.
• Corporation recognized as one of Canada's best diversity employers.
• More than $1 billion flows from SaskPower into Saskatchewan's economy.

"During 2009, we were able to successfully advance our company's strategies to revitalize and strengthen the infrastructure responsible for delivering Saskatchewan's electricity," SaskPower Acting President and CEO Garner Mitchell said. "Going forward, we will strive to remain on the leading edge of clean energy development while also delivering efficiency and conservation initiatives for all customers."

Copies of the 2009 SaskPower Annual Report are available online at www.saskpower.com.

About SaskPower

As the principal supplier of electricity in Saskatchewan, SaskPower serves more than 467,000 customers and manages $4.9 billion in assets. The Corporation operates three coal-fired power stations, seven hydroelectric stations, five natural gas stations and two wind facilities with an aggregate generating capacity of 3,371 MW. Power purchase agreements bring our company's total available generating capacity to 3,840 MW. SaskPower maintains more than 157,000 kilometres of power lines, 56 high voltage switching stations and 184 distribution substations.

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For more information, contact:

James Parker
SaskPower
Regina
Phone: 306-566-3167
Email: jparker@saskpower.com
Cell: 306-536-2886