WINNIPEG — Graham Lane says he had no choice but to speak out, worried this province could go bankrupt if Manitoba Hydro continues what he calls reckless spending.
“I’m quite worried, quite frankly,” said Lane, former chairman of the Public Utilities Board. “My kids live here, my grandchildren — that’s the reason in a sense I decided I couldn’t be silent.”
The Public Utilities Board sets electricity, natural gas and Manitoba Public Insurance rates, and approved a 3.5 per cent rate increase for hydro earlier this year.
During that time, he said, he learned disturbing details about the province’s plan to spend $20 billion on two new dams and Bipole III, a new transmission line that will take electricity south.
Lane fears it could put Manitoba in financial ruin.
“I suspect they’re not acting because they have too much invested in this,” said Lane. “They have a lot of commitments they have made.”
“We have long-term contracts with the United States that will help pay the costs of those dams,” said Dave Chomiak, the minister responsible for Manitoba Hydro.
Provincial officials said if they don’t invest and expand capacity, turning on the lights will become a lot more expensive.
“We’re going to run out of hydro in 2022, we’re going to run out of power in 2022, so what are our options?” Chomiak said.
Lane said revenue projections, cost overruns and demands for hydro have changed since 2008, but he fears too much has been invested for the province to back out.
He’s asking for an audit and external review of Manitoba Hydro.
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