Second Quarter Report 2021
Q2 2021-22 MDA & FS Exec Meeting | 1 |
Q2 cover | 1 |
Q2-2pg | 2 |
Q2 2021-22 MDA 11-01-2021 | 7 |
SaskEnergy delivers natural gas and energy solutions responsibly to the residents, businesses and industries of Saskatchewan. | 7 |
We succeed through strong internal and external collaboration, trust and open communication. | 7 |
Commodity Sales | 7 |
Realized Margin on Commodity Sales | 8 |
Commodity Unrealized Fair Value Adjustments | 8 |
Asset Optimization | 8 |
Asset Optimization Unrealized Fair Value Adjustments | 9 |
Revaluation of Natural Gas in Storage | 9 |
Revenue | 9 |
Transportation and Storage Revenue | 9 |
Customer Capital Contributions | 10 |
Expenses | 10 |
Operating and Maintenance | 11 |
Depreciation and Amortization | 11 |
LIQUIDITY AND CAPITAL RESOURCES | 11 |
Investing Activities | 12 |
Financing Activities | 12 |
CAPITAL ADDITIONS | 12 |
OUTLOOK | 13 |
Q2 2021-22 FS & Notes | 15 |
(unaudited) | 16 |
(unaudited) | 17 |
CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY | 18 |
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS | 19 |
(unaudited) | 19 |
1. GENERAL INFORMATION | 20 |
2. BASIS OF PREPARATION | 20 |
a. Statement of compliance | 20 |
b. Basis of measurement | 20 |
c. Functional and presentation currency | 20 |
d. Use of estimates and judgments | 21 |
3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 22 |
4. NATURAL GAS IN STORAGE HELD FOR RESALE | 22 |
5. FINANCIAL AND DERIVATIVE INSTRUMENTS | 22 |
6. FINANCIAL RISK MANAGEMENT | 24 |
a. Natural gas price risk | 24 |
b. Liquidity risk | 24 |
c. Credit risk | 25 |
7. ASSETS HELD FOR SALE | 26 |
8. PROPERTY, PLANT AND EQUIPMENT | 27 |
9. LEASE LIABILITY | 28 |
10. LONG-TERM DEBT | 28 |
During the first quarter, the Corporation issued $50 million in long-term debt with an interest rate of 2.8 per cent and no premium or discount. | 28 |
a. Commitments | 29 |
b. Contingencies | 29 |
12. UNREALIZED MARKET VALUE ADJUSTMENTS | 29 |
13. NATURAL GAS SALES AND PURCHASES | 30 |
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