2020-21 SaskEnergy Annual Report

2020-21 SaskEnergy Annual Report

ANNUAL REPORT 2020-21

Responsible energy for a sustainable Saskatchewan

VISION Environmental sustainability and economic prosperity for future generations. CORPORATE VISION Providing critical energy for a greener Saskatchewan and reducing our emissions from operations by 35 per cent by 2030. MISSION SaskEnergy delivers natural gas and energy solutions responsibly to the residents, businesses and industries of Saskatchewan.

VALUES

SAFETY We are always committed to our personal safety, the safety of our team and the public. INTEGRITY We are accountable for our decisions, our actions, and the results. STEWARDSHIP We are responsible in our use of all resources.

SPIRIT We support a respectful, dynamic and a diverse work environment that encourages achievement. RELATIONSHIPS We succeed through strong internal and external collaboration, trust and open communication.

Responsible energy for a sustainable Saskatchewan

As Saskatchewan’s natural gas utility, SaskEnergy has a responsibility to support and protect the province and the people who call it home. Whether providing safe, reliable and affordable energy to our customers, reducing the impact of our daily operations on the environment, or introducing programs and services to assist customers in reducing end-use emissions, we are committed to Saskatchewan and its prosperity. Contents 43

Management’s Discussion and Analysis Introduction Strategic Scorecard Measures Operating Environment

Consolidated Financial Statements and Notes Corporate Governance and Stakeholder Engagement Supplementary Information Glossary of Key Success Measures Glossary of Natural Gas Measurements Saskatchewan Natural Gas Transmission Lines

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Corporate Profile Letter of Transmittal Chair’s Message President’s Message Financial and Operating Highlights

20 20 27 29 36 37 38 38

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Consolidated Financial Results Liquidity and Capital Resources Capital Additions Outlook Risk Management and Disclosure Critical Accounting Policies and Estimates Accounting Policy Changes

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Our Sustainability Framework

Our Business Our natural gas system has served Saskatchewan and its people for close to seven decades.

Resilience and Reliability

SaskEnergy’s sustainability framework includes three pillars — Environment, Prosperity, and People — which set a strong foundation for our future.

SaskEnergy provides more energy to the province than any other system and meets the majority of the energy demand in Saskatchewan.

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Delivering Value to Our Customers

Looking Back at 2020-21

Performance highlights from the past year.

We strive to provide value to our customers by focusing on five key strategic imperatives.

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Our Business

As a provincial Crown corporation, SaskEnergy’s roots are deep. Our natural gas system has served Saskatchewan and its people for close to seven decades. We are defined by our commitment to environmental sustainability and economic prosperity for future generations. It is our corporate mission to deliver natural gas and energy solutions responsibly to the residents, businesses and industries of Saskatchewan, and we strive to provide our service in a way that meets the expectations of our customers. SaskEnergy delivers essential energy to 337 communities throughout the province and our rural distribution network has a broader reach than any other gas distribution utility in Canada. We are committed to a lower carbon future — not only within our own operations but together with our customers through programs, services and education. Our number one priority is to safely provide reliable and affordable energy to our customers. Through our distribution and transmission systems, we serve homes, businesses, farms, commercial and industrial customers throughout Saskatchewan. We also own and operate a number of natural gas compression and storage facilities and transport energy over the Alberta, Manitoba and United States borders.

1,100 Dedicated

400,000+ Customers in 93% of Saskatchewan communities

89% Overall residential customer satisfaction rating

employees working in more than 50 locations

15,209 Kilometres of transmission lines

71,305 Kilometres of distribution lines

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Our Business

CUSTOMER PROFILE

Industrial

Residential

Commercial

• Potash mines • Power generation • Enhanced oil recovery

• Urban • Rural

• Retail businesses • Restaurants • Small hospitals • Curling rinks • Hotels • Warehouse buildings

• Manufacturing • Large hospitals • Universities

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Corporate Profile

Crown Investments Corporation of Saskatchewan

SaskEnergy Incorporated

Many Islands Pipe Lines (Canada) Limited

Bayhurst Gas Limited

Saskatchewan First Call Corporation

TransGas Limited

Transmission and Storage

Natural Gas In Storage

Inter-provincial Transmission

Underground Facility Screening and Notification Service

BG Storage Inc.

Storage Joint Arrangement

Bayhurst Gas Limited (Bayhurst) owns, produces and sells natural gas from its two storage facilities in the western area of Saskatchewan. BG Storage Inc. (BGSI) is a wholly owned subsidiary of Bayhurst Gas Limited and owns a 50 per cent interest in a natural gas storage business, which is operated through a joint arrangement with Faro Energy Ventures Ltd. Many Islands Pipe Lines (Canada) Limited (MIPL) is a transmission company that owns eight transmission gas line interconnections to Alberta, two into the United States, and one into Manitoba, all of which connect to the TransGas system. MIPL is regulated by the Canada Energy Regulator. Saskatchewan First Call Corporation (Sask 1st Call) provides a centralized “Click Before You Dig” underground facility screening and notification service. Sask 1st Call was established primarily for safety reasons to maintain a >Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17 Page 18 Page 19 Page 20 Page 21 Page 22 Page 23 Page 24 Page 25 Page 26 Page 27 Page 28 Page 29 Page 30 Page 31 Page 32 Page 33 Page 34 Page 35 Page 36 Page 37 Page 38 Page 39 Page 40 Page 41 Page 42 Page 43 Page 44 Page 45 Page 46 Page 47 Page 48 Page 49 Page 50 Page 51 Page 52 Page 53 Page 54 Page 55 Page 56 Page 57 Page 58 Page 59 Page 60 Page 61 Page 62 Page 63 Page 64 Page 65 Page 66 Page 67 Page 68 Page 69 Page 70 Page 71 Page 72 Page 73 Page 74 Page 75 Page 76 Page 77 Page 78 Page 79 Page 80 Page 81 Page 82 Page 83 Page 84 Page 85 Page 86 Page 87 Page 88

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