Crown Services Minister Jeff Wharton and Finance Minister Scott Fielding announced today interim rates for Manitoba Hydro, with the legislative amendments to be introduced this fall.
The Manitoba government is also going to limit annual rate increases to 2.5 per cent for the 3 years.
While Manitoba Hydro had requested a 3.5 per cent increase to take effect this fall, the government is proposing rate increases of 2.5 per cent in 2021, 2022 and 2023, subject to approval of the legislative assembly.
Wharton says the 2.5 per cent increase each December would result in an average residential increase of $35.
These limited rate increases will be introduced as amendments to bill 35: the public utilities ratepayer protection and regulatory reform act.
“The interim rates set by legislation will bring stability to the system and create certainty and predictability for Manitobans as they budget for their home and business hydro bills,” said Fielding. “Bill 35 makes the Public Utilities Board stronger and more independent while maintaining its powers of oversight and ensuring transparency on major projects.”