WINNIPEG – The cost of lighting and heating your home will go up next month after Manitoba Hydro was given the green light for a rate hike.
The Public Utilities Board has approved a 3.95 per cent increase effective Aug. 1.
It is estimated the increase will add an extra $3.20 to customers without electric space heat and an extra $6.11 for those with it per month.
Hydro has said it is planning a 3.95 per cent increase every year for at least 10 years.
The Crown corporation said the higher rates are needed to upgrade aging infrastructure through the province and to pay for several massive projects.
The Bipole III project is expected to cost $4.6 billion and the Keeyask generating station is pegged at $6.5 billion.
In a news release, the Public Utilities Board said of the 3.95 per cent rate increase, 1.8 per cent will go to ongoing operations and the remaining 2.15 per cent will go in to a deferral account already established to fund the Bipole III project.
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