Despite still making some hefty profits, SaskPower saw a sharp drop in their net income over the past fiscal year.
The utility company's annual report shows that it brought in $11 million in 2021-2022, down from the $160 million it made the year before.
In a release, the province said that rising fuel costs was one of the main contributors to the decline in revenue.
The province said SaskPower invested $922 million in capital projects, including $385 million in repairs and upgrades to old infrastructure.
It also spent $490 million on growth projects, such as new generation facilities.
"Electricity demand in Saskatchewan increased by 4.1 per cent in 2021-22 and is forecast to rise by an additional 1.4 per cent during this fiscal year - clear signs that our economic recovery is well underway," Minister Responsible for SaskPower Don Morgan said in the release. "SaskPower played an important role in Saskatchewan's post-pandemic recovery, directly contributing $1.9 billion to the provincial economy."
The province listed the Golden South Wind Facility and the Highfield Solar project as a couple of SaskPower's notable accomplishments in 2021-2022.