In 2022, Saskatchewan’s Crown corporations generated a profit that fell $242.5 million under target, a significant number that is raising many eyebrows.
Saskatchewan NDP Leader Carla Beck says in 2022, net earnings from the Crowns totaled $7.4 million, compared to the year before which brought in $361 million. Beck states that Premier Scott Moe dodged media questions over his $353 million decrease in Crown profits and is demanding answers.
Beck and Crown Investments Corporation Critic Erika Ritchie also state that Moe took $237 million from the Crowns into the General Revenue Fund, and also increased operating and salary costs at Crown Investments Corporation by 13 per cent.
SaskPower’s numbers stood out among the Crowns, as they lost a total of $172.1 million last year, a record amount for the company. As for the rest of the Crown Corporations, SaskTel made $104 million, roughly the same amount as the year before, SaskEnergy made $59 million in 2022 down from $158 million in 2021, and SGI collected profits of $24 million, which is much less than the $82 million recorded the year before.