2014 SaskEnergy Annual Report
Q1 2021-22 MDA & FS_08-10-21v2.pdf | 2 |
Environmental sustainability and economic prosperity for future generations. | 2 |
Providing critical energy for a greener Saskatchewan and reducing our emissions from operations by 35 per cent by 2030. | 2 |
SaskEnergy delivers natural gas and energy solutions responsibly to the residents, businesses and industries of Saskatchewan. | 2 |
We are always committed to our personal safety, the safety of our team and the public. | 2 |
We are accountable for our decisions, our actions, and the results. | 2 |
We are responsible in our use of all resources. | 2 |
We support a respectful, dynamic and a diverse work environment that encourages achievement. | 2 |
We succeed through strong internal and external collaboration, trust and open communication. | 2 |
Commodity Sales | 7 |
Unrealized Margin on Commodity Sales | 8 |
Commodity Fair Value Adjustments | 8 |
Asset Optimization | 8 |
Asset Optimization Fair Value Adjustments | 8 |
Revaluation of Natural Gas in Storage | 9 |
Revenue | 9 |
Transportation and Storage Revenue | 9 |
Customer Capital Contributions | 9 |
Expenses | 10 |
Operating and Maintenance | 10 |
Depreciation and Amortization | 10 |
LIQUIDITY AND CAPITAL RESOURCES | 11 |
Investing Activities | 11 |
Financing Activities | 11 |
CAPITAL ADDITIONS | 11 |
OUTLOOK | 12 |
(unaudited) | 15 |
CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY | 16 |
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS | 17 |
(unaudited) | 17 |
1. GENERAL INFORMATION | 18 |
2. BASIS OF PREPARATION | 18 |
a. Statement of compliance | 18 |
b. Basis of measurement | 18 |
c. Functional and presentation currency | 18 |
d. Use of estimates and judgments | 19 |
3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 20 |
4. NATURAL GAS IN STORAGE HELD FOR RESALE | 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 | 26 |
10. LONG-TERM DEBT | 26 |
During the quarter, the Corporation issued $50 million in long-term debt with an interest rate of 2.8 per cent and no premium or discount. | 26 |
11. COMMITMENTS AND CONTINGENCIES | 27 |
a. Commitments | 27 |
b. Contingencies | 27 |
12. UNREALIZED MARKET VALUE ADJUSTMENTS | 27 |
13. NATURAL GAS SALES AND PURCHASES | 28 |
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