SaskPower asking for 5% rate increase in March 2018

SaskPower is asking for a five per cent rate increase next year, after raising rates 3.5 per cent this year.

Rates were previously hiked 3.5% in January 2017

SaskPower increased its rates by 3.5 per cent back in January. (Kendall Latimer/CBC)

SaskPower is asking for another rate increase, seven months after the Crown corporation hiked rates by 3.5 per cent in January. 

The requested rate increase of five per cent would take effect March 1, 2018, if approved — an average increase of $6 per residential customer.

There were two requests for five per cent hikes in 2016, but the second of the two was deemed too high by the province's rate review panel.

The last time rates increased by five per cent was July 1, 2016.

A news conference is scheduled for 10 a.m. CST where the announcement will be made by SaskPower president Mike Marsh. 

Any changes to the power rate has to be approved by the province's rate review panel and receive cabinet approval. 

With files from Alex Johnson