1 Table of contents 92

2025-26 SaskEnergy Annual Report

2014 SaskEnergy Annual Report

Our Business		5
Corporate Profile		6
Letter of Transmittal		7
Chair’s Message		8
President’s Message		9
Looking Back at 2025-26		12
Financial and Operating Highlights		15
Management’s Discussion and Analysis		22
Consolidated Financial Statements		45
Notes to the Consolidated Financial Statements		54
Corporate Governance		82
Supplementary Information		84
Glossary of Key Success Measures		86
Glossary of Natural Gas Measurements		90
Saskatchewan Natural Gas Transmission Lines		91
Management’s Responsibility for Financial Statements		46
Management’s Report on Internal Control Over Financial Reporting		47
Independent Auditor’s Report		48
Consolidated Statement of Financial Position		50
Consolidated Statement of Income and Comprehensive Income		51
Consolidated Statement of Changes in Equity		52
Consolidated Statement of Cash Flows		53
General Information		54
Basis Of Preparation		54
Summary of Material Accounting Policy Information		55
Capital Management		65
Trade and Other Receivables		66
Debt Retirement Funds		67
Financial and Derivative Instruments		68
Financial Risk Management		70
Right-of-Use Assets		73
Intangible Assets		74
Property, Plant and Equipment		75
Short-Term Debt		76
Trade and Other Payables		76
Unearned Customer Capital Contributions and Government Grants		76
Lease Liability		77
Provisions		77
Long-Term Debt		78
Commitments		79
Unrealized Market Value Adjustments		79
Natural Gas Sales and Purchases		79
Delivery Revenue		80
Transportation and Storage Revenue		80
Saskatchewan Taxes		80
Net Finance Expenses		80
Other Net Losses		81
Related Party Transactions		81
Subsequent Event		81
Introduction		22
Strategic Scorecard Measures		23
Operating Environment		29
Consolidated Financial Results		30
Liquidity and Capital Resources		36
Capital Additions		37
Outlook		38
Risk Management and Disclosure		39
Material Accounting Policies and Estimates		42
Accounting Policy Changes		44

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