Enserva’s Provincial Spotlight Series provides an overview of the latest policy updates, regulatory changes, and industry-specific developments in our members’ operating areas. In this edition, we revisit Saskatchewan to explore topics pertinent to the energy services, supply, and manufacturing sectors.
ICYMI: The previous issue, published on December 11th, highlighted Alberta.
Political Election Outcome
Following the Saskatchewan general election on October 28, 2024, the Saskatchewan Party, led by Premier Scott Moe, secured its fifth consecutive majority government, winning 34 of 61 seats. The New Democratic Party (NDP), under Carla Beck, increased its representation from 13 to 27 seats, indicating a more robust opposition.
On November 7, 2024, Premier Moe announced a streamlined cabinet, reducing the number of ministers from 18 to 16. Each minister was assigned a new portfolio, signaling a strategic shift in the province’s governance.
In their fall Throne Speech, the Saskatchewan Government committed to keeping the economy strong, while focusing on affordability, healthcare and education.
Key Appointments
- Hon. Jim Reiter: Appointed as Deputy Premier and Minister of Finance, also overseeing Labour Relations and Workplace Safety, and Immigration and Career Training. Reiter has extensive Cabinet experience and is amongst the longest serving MLAs.
- Hon. Colleen Young: Hon. Colleen Young now serves as Minister of Energy and Resources. Her role is pivotal in managing the province’s energy sector, including oil, gas, and mining industries, which are crucial to Saskatchewan’s economy.
- Hon. Warren Kaeding: Rejoining the cabinet as Minister of Trade and Export Development, Minister Kaeding is also responsible for Innovation. His focus will be on expanding Saskatchewan’s trade relationships and fostering economic growth through innovation.
- Hon. David Marit: Shifting from Agriculture, Marit becomes the Minister of Highways and the Minister of SaskBuilds and Procurement. Responsible for the Global Transportation Hub Authority, Minister Marit will also oversee infrastructure projects vital for economic development and resource transportation.
- Hon. Jeremy Harrison: Assuming the role of Minister of Crown Investments Corporation, Harrison is responsible for all major Crown corporations and the Public Service Commission, playing a key role in managing public enterprises that impact the province’s economy.
Provincial Priorities
- Response to U.S. Tariff Threats: Premier Moe clearly opposed the suggestion of export restrictions or retaliation in response to US tariff threats, emphasizing that such measures would be divisive and economically damaging. He called for federal-provincial collaboration to address the proposed 25% tariffs on Canadian imports.
- Energy and Resource Ministerial Priorities: Two months into her new file, Minister Young outlined initial plans to support growth in the oil, gas, and potash sectors, with a focus on programs like the multilateral well drilling incentive to boost production and investment.
- Free Trade Advocacy: Both Premier Moe and Minister Young stressed the importance of maintaining open trade with the US, highlighting the interdependence of economies and the need to prevent retaliatory trade measures that could harm jobs and growth in Saskatchewan.
Energy Policy and Developments
- Federal Clean Electricity Regulations: In December 2024, the Saskatchewan government rejected the federal Clean Electricity Regulations, citing concerns over their constitutionality, affordability, and feasibility. Premier Moe stated that the province would not comply with these regulations.
- Oil Production Initiatives: The Saskatchewan Party has implemented incentives to boost oil production, aiming to increase output to 600,000 barrels per day. This includes a multilateral well incentive introduced in the 2024 budget, offering reduced royalties to encourage new drilling.
- Renewable Energy Investments: The federal government announced over $1 billion in funding to support clean energy projects in Saskatchewan and New Brunswick, aiming to enhance the provinces’ energy grids.
Economic and Industry Outlook
Saskatchewan continues to focus on its Growth Plan, which includes increasing the value of exports and investing in new oil and gas technologies. The province remains a leading producer of potash, uranium, and is expanding into helium and lithium production.
These developments reflect Saskatchewan’s commitment to balancing traditional energy production with investments in renewable energy and emission reduction technologies, while navigating federal-provincial dynamics and addressing economic growth objectives.
