2025-26 Statement of Corporate Governance Practices
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Public Policy Role SaskEnergy is a statutory Crown corporation governed by The SaskEnergy Act and Regulations. By law, CIC is the holding corporation for all Saskatchewan commercial Crown corporations, and CIC has the authority to establish direction for SaskEnergy related to matters set out in legislation. As a provincial Crown corporation, SaskEnergy serves a public policy role. SaskEnergy operates the distribution utility that delivers natural gas and energy solutions responsibly to Saskatchewan’s residents, businesses and industries. SaskEnergy and its subsidiaries fulfill this mission by operating systems for natural gas distribution, transmission, storage and other related activities to promote the conservation and safe use of natural gas, while contributing to and promoting the province’s economy. CIC approves SaskEnergy’s Corporate Plan annually and sets any other strategic priorities against which CIC and the Owner will measure the Corporation’s performance. SaskEnergy collaborates with other Saskatchewan Crown corporations to further CIC’s stated priorities of enhancing efficiency gains through joint initiatives, procurements and promoting an open business environment. Risk Identification and Management SaskEnergy has a formal Enterprise Risk Management Policy and process, which is developed by management, and reviewed and approved by the Board. SaskEnergy’s risk management process is designed to identify potential events that may impact SaskEnergy and manage the risk presented within accepted risk tolerance levels. Senior management holds primary responsibility for identifying inherent risks and designing and implementing mitigation strategies. Each year, the Board and senior management independently follow a process to identify and prioritize significant inherent risks. The Director, Audit Services, prepares a report summarizing the independent risk assessments completed by the Board and management. This report is discussed at a Board meeting where senior management and the Board align on the key corporate risks and the plans to mitigate or manage the residual risks.
The Corporation then implements the mitigation strategies through the Corporate Plan. The Board monitors the risk management programs and oversees the implementation of appropriate systems to manage the identified risks either directly or through the Audit and Finance Committee. The Audit and Finance Committee regularly reviews the Audit Services reports and discusses significant risk areas with the internal and external auditors. Corporate Responsibility Corporate responsibility is integrated in SaskEnergy’s governance framework, its approach to risk management, and how the Corporation conducts its day-to-day operations. At SaskEnergy, corporate responsibility includes four focus areas — environment, prosperity, people and governance. As SaskEnergy provides safe and reliable energy to the province’s residents, businesses and industries, environmental responsibility remains a priority in its long-term corporate sustainability. Building meaningful relationships with customers, communities, stakeholders and Indigenous groups is key as the Corporation works to support economic prosperity for future generations. Employees drive SaskEnergy’s success and the organization strives for a work environment where all ideas are valued, respected and welcomed. During the past fiscal year, the CSA was developing new guidance on climate-related disclosures in the proposed “National Instrument 51-107 Disclosure of Climate Related Matters.” On April 23, 2025, the CSA announced that this initiative, as well its initiative to develop further diversity-disclosure related requirements, had paused. SaskEnergy will continue to monitor developments with respect to National Instrument 51-107 as they apply to the organization.
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