SASKPOWER RECORDS SOUND RESULTS; COMPANY CONTINUES STRATEGIC REVITALIZATION TO MEET GROWING DEMAND

SaskPower today announced a 2007 net income of $138 million and dividend to Crown Investments Corporation of Saskatchewan of $97 million - both increases over prior-year results. The Corporation's financial and operating highlights were released during the tabling of SaskPower's 2007 Annual Report in the Saskatchewan Legislative Assembly.

Operationally, SaskPower completed a major supply decision at a time that it also experienced increases in service demand that reflect Saskatchewan's recent extraordinary economic growth. In particular, three new marks were set: record peak load, record customer connects and record new service applications.

"SaskPower is an integral component of our province's economic engine and will continue to play an important role in securing long-term prosperity," Crown Corporations Minister Ken Cheveldayoff said. "In order to help sustain Saskatchewan's economic momentum, the Corporation will continue to replace aging electrical generating equipment and add new equipment to its already diverse generation fleet, which includes coal, natural gas, and hydro generation, as well as an ongoing commitment to wind power generation."

Key highlights from 2007 include:

• Record 13,071 new service applications.
• Record peak load of 2,969 megawatts (MW).
• New supply decision outlines SaskPower's plan to meet the province's growing electricity needs from 2010 to 2014.
• SaskPower becomes first utility in the world to complete workable design for a large scale near-zero emissions pulverized coal plant.
• Process of acquiring up to 400 MW of simple cycle natural gas turbines begins.
• SaskPower Eneraction portfolio of efficiency, conservation and load management programs announced.
• Net Metering Program allows for the development of partnerships with customers who generate electricity using wind, solar, low impact hydroelectric, biomass, flare gas and heat recovery.
• $21.6-million major overhauls completed on Boundary Dam Power Station 139-MW Unit #3 and 62-MW Unit #1.
• Construction begins on a new 110-25 kV substation 6 km from Pelican Narrows in northern Saskatchewan.
• More than $900 million contributed to the provincial economy, including the procurement of over 85 per cent of goods and services from Saskatchewan suppliers.

"As we continue to provide cost-efficient, safe, reliable and sustainable electricity to our customers, we are committed to maintaining a strong financial foundation for our company," SaskPower president and CEO Pat Youzwa said. "We will remain dedicated to pursuing innovative technologies and programs to strengthen security of supply, while lessening the environmental footprint of both our company and customers."

Copies of the 2007 SaskPower Annual report are available online at saskpower.com and at SaskPower Customer Services offices across the province.

About SaskPower

As the principal supplier of electricity in Saskatchewan, SaskPower serves more than 451,000 customers and manages $4.5 billion in assets. Our company operates three coal-fired power stations, seven hydroelectric stations, four natural gas stations and two wind facilities with an aggregate generating capacity of 3,214 megawatts (MW). SaskPower maintains more than 155,000 kilometres of power lines, 52 high voltage switching stations and 175 distribution substations.

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For more information, contact:

Larry Christie
SaskPower
Regina
Phone: 306-566-3167
Email: lchristie@saskpower.com
Cell: 306-5362886