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     News Release - May 29, 2008 NEW CROWN FINANCING OPTIONS MAKE NEW UTILITY CONNECTIONS MORE AFFORDABLEThe provincial government is offering an expanded range of options to help new customers access electricity, natural gas and telecommunications services in Saskatchewan. Beginning June 1, SaskPower will offer a financing program to assist new residential customers whose electricity connection costs exceed $1,000 and commercial customers where connection costs exceed $5,000. In addition, SaskTel will provide financing to rural based business customers whose telecommunication connection costs exceed $5,000, with a minimum down payment of 25 per cent. SaskEnergy's financing program for new connections to natural gas service is currently available to all customers and will continue. "These financing programs will provide support for new and expanded businesses in the province, especially in rural Saskatchewan - where utility connection costs can be highest," Crown Corporations Minister Ken Cheveldayoff said. "This will help to ensure that the infrastructure is in place to maintain and build on Saskatchewan's growing economic momentum." Utility connections generally take place at a time when a new business is facing many other start-up costs. Having the option to spread out utility connection fees over time can help to reduce cash flow pressures on new businesses. "Our Crown corporations have a role to play in preparing our province for growth," Cheveldayoff said. "Providing these financing options is one way our Crowns are working to accommodate the needs of all new customers - those who currently live here and those making the move to our province." On approved credit, loans are offered at rates no less than a Crown corporation's cost of capital, plus administrative costs. Each utility's program also includes a reasonable risk premium where appropriate. -30- For more information, contact: Leanne Persicke Mike Mamona Linda Lawrence Dave Claude Related Documents
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