Manitobaans can expect an increase in electricity bills for the new year.
The Public Utilities Board (PUB) approved Manitoba Hydro’s request to increase rates, granting it an interim 3.6 percent increase for most of 2022.
The 3.6 figure was chosen to recognize the impact of the drought as higher costs are phased in to cover upcoming projects, the PUB says in a press release.
Manitoba Hydro Seeks Higher Interim Rates to Reduce Debt from Capital Projects
Manitoba Hydro initially requested 5 percent in November, claiming it was necessary to cover monetary deficits caused by the drought.
‘King died’: 8-year-old shooting victim honored as NS community mourns
Girl accidentally killed by LAPD while in clothing store dressing room
The Consumer Coalition contested his claim in mid-December, urging the PUB to a lower rate increase of two percent instead, after reviewing financial reports submitted by Hydro.
“The Coalition believes that Hydro is eroding consumer confidence by requesting this significant and unnecessarily high rate increase, rather than protecting consumers by reducing its own internal costs,” said the executive director of the Consumers Association of Canada, Gloria Desorcy.
Province Provides Mid-Year Financial Update, Says Projected Deficit Reduced
Manitoba Hydro’s debt has tripled in 15 years after exceeding the budget by $ 3.7 billion during the construction of two mega-projects: the Bipole III transmission line and the Keeyask generating station.
As of now, Manitoba Hydro accounts for approximately 40 percent of the province’s total debt.
– with archives from The Canadian Press
© 2021 Global News, a division of Corus Entertainment Inc.