The corporation has released its annual report which calls for $10 billion over the next 10 years for infrastructure.
Bill Boyd, minister responsible for SaskPower, says that doesn't mean rate increases every year are inevitable.
Although, Boyd says the government would prefer smaller increases each year rather than bigger hikes in the future.
SaskPower also says that it's preparing for potential spring flooding by stockpiling more than a months worth of coal at its Boundary Dam power plant.
The road between the coal-fired power plant and local coal mines was flooded in 2011, reducing operations.