Crown Investments Corporation announced a $68 million contribution to Saskatchewan's general revenue fund during a news conference in Saskatoon on June 23, 2026, as provincial Crown corporations tabled their mixed annual financial reports.
The holding company for provincial utilities reported varied net incomes alongside escalating infrastructure costs and weather-related expenses across the sector.
SaskTel recorded a net income of $104 million from $1.3 billion in overall revenue during the 2025-26 fiscal year, allocating $443 million toward capital spending and issuing a $41 million dividend.
SaskEnergy generated $96 million in net income while directing $430 million to capital projects, resulting in a $34 million dividend payment to the holding company.
The financial results for SaskPower showed a gross loss of $301 million, which a $187 million provincial subsidy mitigated to a final net loss of $114 million.
The power corporation spent $1.8 billion on electrical grid modernization, including a major project linking the northern and southern power systems of Saskatchewan.
Energy Strategy Defended
Jeremy Harrison, the Minister responsible for Crown Investments Corporation, defended the provincial energy strategy, which designates over $900 million for nuclear power development and includes a recently initiated 200-megawatt wind project.
"We have the second lowest utility bundle in the entire country," said Harrison.
Harrison maintained that keeping existing coal-fired generation operational beyond 2030 remains necessary to satisfy rising electricity demands across the province.
"We're not taking existing generation off the grid because we have an enormous demand that is coming forward," said Harrison.
The minister also noted that the federal government's new nuclear strategy aligns with local plans to construct 10 large-scale reactors across Canada.
"I appreciate the Government of Canada recognizing the very central role that Saskatchewan plays in the global nuclear supply chain," said Harrison.
Opposition SaskPower critic Alena Young challenged the financial trajectory of the utility, asserting that current provincial policies risk doubling consumer rates.
"Every single dollar of Crown profits that goes to pay for Scott Moe and Jeremy Harrison's mistakes is a dollar of Crown profits that is not going to pay for basic public services," said Young.
Saskatchewan Government Insurance also faced financial strain from rising automotive repair costs and severe local weather events.
Penny McCune, President and CEO of Saskatchewan Government Insurance, stated the insurer is managing costs through auto body shop partnerships and fraud detection systems.
"It's shaping up to be one of our largest hailstorms in history unfortunately," said McCune.
The recent hailstorms in Regina generated approximately 13,000 insurance claims, with total damages projected to surpass $100 million.
