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SaskEnergy First Quarter Report - June 30, 2023

SaskEnergy First Quarter Report - June 30, 2023

Financial_Statements_for_Public_Release - Q1 2023-24 - att		1
2023-24 Q1 Report		1
149785 Covers		1
Contents		2
ADPF3D6.tmp		7
Commodity Margin		7
Commodity Fair Value Adjustments		8
Asset Optimization Margin		8
Revaluation of Natural Gas in Storage		8
Customer Capital Contributions		10
Other Expenses		10
Operating and Maintenance		10
LIQUIDITY AND CAPITAL RESOURCES		11
Investing Activities		11
Financing Activities		11
CAPITAL ADDITIONS		12
OUTLOOK		12
ADPA18D.tmp		17
CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY		17
(unaudited)		17
1. GENERAL INFORMATION		19
2. BASIS OF PREPARATION		19
a. Statement of compliance		19
b. Basis of measurement		19
c. Functional and presentation currency		19
4. NATURAL GAS IN STORAGE HELD FOR RESALE		20
The revaluation to net realizable value of natural gas in storage at the end of June 30, 2023 was $nil (March 31, 2022 - $nil). As at June 30, 2023, the Corporation expects that the $27 million of current inventory could be sold or consumed within the...		20
5. FINANCIAL AND DERIVATIVE INSTRUMENTS		20
6. FINANCIAL RISK MANAGEMENT		22
a. Natural gas price risk		22
b. Liquidity risk		22
c. Credit risk		23
7. ASSETS HELD FOR SALE		24
9. LEASE LIABILITY		25
During the first quarter of the fiscal year, the Corporation issued $125 million in long-term debt in three increments. The first $50 million increment was issued at a discount of $4 million with an interest rate of 3.8 per cent maturing in 2062. The ...		25
11. COMMITMENTS AND CONTINGENCIES		26
a. Commitments		26
b. Contingencies		26
12. UNREALIZED MARKET VALUE ADJUSTMENTS		26
Unrealized market value adjustments represent the net income impact of measuring certain financial and derivative instruments at fair value subsequent to initial recognition (Note 5), and measuring natural gas in storage at the lower of weighted avera...		26
ADP89DA.tmp		15
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION		15
(unaudited)		15
(unaudited)		16
CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY		18
(unaudited)		18
8-23-2023		9
2023-24 Q1 MDA 08-23-2023		9
Revenue		9
Delivery revenue, transportation and storage revenue and customer capital contributions, as reported in the condensed consolidated financial statements, were as follows:		9
Transportation and Storage Revenue		9

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