31. Related party transactions Balances and transactions between SaskEnergy and its wholly owned subsidiaries, which are related parties of SaskEnergy, have been eliminated upon consolidation and are not disclosed in this note. Details of transactions between the Corporation and other related parties are disclosed below. a. Transactions with key management personnel Key management personnel include directors and executive officers. The compensation paid to key management for employee services was as follows: (millions) 2014 2013
Short-term benefits
$
3
$
3
b. Other related party transactions As a Crown corporation, the Corporation is ultimately controlled by the Government of Saskatchewan. Included in the consolidated financial statements are transactions with various Saskatchewan Crown corporations, ministries, agencies, boards and commissions related to the Corporation by virtue of common control by the Government of Saskatchewan and non-Crown corporations and enterprises subject to joint control and significant influence by the Government of Saskatchewan (collectively referred to as related parties). Government-related entities are exempt from providing disclosure about individual related party transactions, other than the transactions with key management personnel disclosed above. Instead, government-related entities are required to disclose the types and extent of individually or collectively significant transactions with related parties. In determining individually significant transactions, the Corporation considers the size, type and terms of the transaction. During the year the Corporation received $1 million (2013 – $4 million) from its parent company, CIC. The payments represent full reimbursement of the Corporation’s costs associated with administering the Saskatchewan EnerGuide for Houses grant program. The reimbursements and associated costs have been recognized on a net basis in operating and maintenance expense. There were no other individually or collectively significant transactions with related parties for the year. All other transactions with related parties were routine operating transactions that were settled at prevailing market prices under normal trade terms.
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2014 Annual Report SaskEnergy
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