The outlook for labour markets and contractor demand was unclear given the downturn in the provincial economy but pressure has lessened in some areas during the downturn. The Corporation continues to pursue its resourcing strategy which calls for relatively stable employee levels augmented by third party contract resources. In addition, efficiency initiatives have enhanced productivity and will continue to allow SaskEnergy to meet its business commitments in a nimble and cost effective manner with a focus on cost savings in employment, contract and consulting, advertising and vehicle costs. SaskEnergy will continue to focus its efforts on providing safe and reliable service to customers without creating undue rate pressure. Spending will focus on upgrading infrastructure to meet load and service requirements, as well as the integrity of transmission, distribution and storage systems. The 2015 capital plan also includes growth-related projects such as gas processing and associated gas capture where current opportunities appear limited. The Corporation has spent $130 million on capital projects in 2015 with plans to spend a total of $221 million on capital investment by the end of 2015. These capital expenditures will be funded through operating cash flows and debt made available through the Province at what are expected to be historically low interest rates. In summary, SaskEnergy will continue to focus on investing in safety and growth initiatives and realizing efficiencies, while forecasting income before unrealized market value adjustments of $81 million in 2015.
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2015 THIRD QUARTER REPORT
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