04/10/2013 04:49 EDT | Updated 06/10/2013 05:12 EDT

SaskPower spends record $981M on projects; also readies for spring flooding

REGINA - SaskPower spent a record $981 million on capital projects last year and plans to surpass that amount this year as it rebuilds or replaces aging infrastructure.

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.