Summary

The Power Corporation Amendment Act, 2025 amends The Power Corporation Act to clarify that SaskPower and its wholly owned subsidiaries are Crown agents, confirm their property belongs to the Crown and is tax-exempt, authorize SaskPower to provide loans and guarantees to controlled entities and to other entities directed by Cabinet for power generation or related projects, and raise SaskPower's borrowing limit from $10 billion to $14 billion.

This bill makes four main changes to how SaskPower operates. First, it formally states that SaskPower and its wholly owned subsidiaries act as agents of the Crown. Second, it confirms that all property and profits of SaskPower and its wholly owned subsidiaries belong to the Crown and are exempt from taxation. Third, it grants SaskPower explicit authority to make loans to entities it controls and to other entities as directed by Cabinet, specifically for power generation facilities in Saskatchewan or projects consistent with SaskPower's mandate. Fourth, it increases the maximum amount SaskPower can borrow from $10 billion to $14 billion. The loan and guarantee provisions define control as owning more than 50% of voting shares or assets. The bill does not specify what projects Cabinet might direct SaskPower to finance beyond the general categories of power generation and related infrastructure.