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Manitoba Hydro revises its rate hike request, cites cut in government charges

Click to play video: 'Manitoba Hydro revises its rate hike request, cites cut in government charges'
Manitoba Hydro revises its rate hike request, cites cut in government charges
Manitoba Hydro is reducing its request for rate increases and is crediting a provincial government decision – Nov 29, 2022

Manitoba Hydro is reducing its request for rate increases and is crediting a provincial government decision.

Earlier this month, the Crown-owned utility said it would ask the provincial regulator for rate hikes of 3.5 per cent in each of the next two years.

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The utility says it is now cutting that request back to two per cent in each year.

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It’s also revising its long-term projections, from annual rate hikes above the rate of inflation to rate hikes of two per cent annually for the next 19 years.

The move follows a decision by the Manitoba government last week to cut in half fees the province charges the utility for debt guarantees and water usage.

Manitoba Hydro says the changes will save it about $190 million this year and more in future years.

Click to play video: 'Manitoba Hydro electric board chair hopeful about future impact of province’s fee cut'
Manitoba Hydro electric board chair hopeful about future impact of province’s fee cut

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