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Electricity bills set to go up in the new year: Manitoba Hydro

Click to play video: 'Electricity bills set to go up in the new year: Manitoba Hydro' Electricity bills set to go up in the new year: Manitoba Hydro
Manitobans can expect a hike in electricity bills for the new year. The Public Utilities Board approved Manitoba Hydro’s request to raise rates, granting it a 3.6 per cent interim increase for the majority of 2022. – Dec 24, 2021

Manitobans can expect a hike in electricity bills for the new year.

The Public Utilities Board (PUB) approved Manitoba Hydro’s request to raise rates, granting it a 3.6 per cent interim increase for the majority of 2022.

The figure of 3.6 was chosen to recognize the impact of the drought while introducing increased costs gradually to cover upcoming projects, the PUB says in a press release.

Click to play video: 'Manitoba Hydro seeks higher interim rates to reduce capital project debt' Manitoba Hydro seeks higher interim rates to reduce capital project debt
Manitoba Hydro seeks higher interim rates to reduce capital project debt – Nov 16, 2021

Manitoba Hydro initially asked for five per cent in November, claiming it was necessary to cover monetary deficits brought on by the drought.

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The Consumers Coalition challenged its claim in mid-December, urging the PUB for a lower rate increase of two per cent instead, after looking over financial reports presented by Hydro.

“The Coalition believes that Hydro is eroding trust with consumers by requesting this significant and unnecessarily high rate increase, rather than protecting consumers by reducing its own costs in-house,” said the Consumers’ Association of Canada’s executive director, Gloria Desorcy.

Read more: Province provides mid-year financial update, says projected deficit lowered

Manitoba Hydro’s debt has tripled in 15 years after going $3.7 billion over budget during the construction of two megaprojects — the Bipole III transmission line and the Keeyask generating station.

As of now, Manitoba Hydro accounts for roughly 40 per cent of the province’s total debt.

— with files from The Canadian Press

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