22. Natural gas sales and purchases
15 Months Ended March 31, 2016
12 Months Ended December 31, 2014
Gas
Gas
(millions)
Commodity Marketing
Total
Commodity Marketing
Total
NATURAL GAS SALES Natural gas sales to commodity customers Realized on natural gas derivative instruments
$ 262
$
–
$ 262
$ 338
$
–
$ 338
48
408
456
47
180
227
Change in fair value of natural gas derivative instruments
–
11
11
(1)
(9)
(10)
310
419
729
384
171
555
NATURAL GAS PURCHASES Realized on natural gas derivative instruments
(301)
(394)
(695)
(338)
(156)
(494)
Change in fair value of natural gas derivative instruments
(83)
(3)
(86)
5
(6)
(1)
Change in revaluation of natural gas in storage to net realizable value
–
(12)
(12)
–
(11)
(11)
(384)
(409)
(793)
(333)
(173)
(506)
$ (74)
$ 10
$ (64)
$ 51
$
(2)
$ 49
23. Other revenue
15 Months
12 Months
Ended March
Ended
December 31, 2014
(millions)
31, 2016
Natural gas liquid sales
$ 11
$
8 4 1 1
Compression and gathering services
4 1 –
Royalty revenue
Other
$ 16
$ 14
During the period, the Corporation’s non-rate regulated compression and gathering services were reclassified from transportation and storage to other revenue. This reclassification resulted in a $4 million increase to other revenue in the 2014 comparative figures.
24. Revenue collected for and paid to municipalities The Corporation is required to remit to 109 urban municipalities, in accordance with the provisions of The SaskEnergy Act , an amount calculated as either three per cent or five per cent of natural gas sales to customers within the respective municipality. These municipal payments are charged to customers and are then remitted to the respective municipalities. During the period, the amount collected for and paid to municipalities, which was recognized on a net basis in operating and maintenance expense, was $26 million (2014 – $19 million). In accordance with the provisions of The SaskEnergy Act , the Corporation is required to collect, from specific customers, an amount based on the value of natural gas transported on their behalf. The Corporation in turn pays the amount collected to the related municipalities. During the period, the amount collected for and paid to municipalities, which was recognized on a net basis in operating and maintenance expense, was $2 million (2014 – $2 million).
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2015-16 ANNUAL REPORT SASKENERGY
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