The government of Manitoba is introducing legislative amendments this fall that would set interim rates for Manitoba Hydro and limit annual rate increases to 2.5 percent for the next three years.
Crown Services Minister Jeff Wharton and Finance Minister Scott Fielding made the announcement at a news conference today.
Wharton says the increase of 2.5 percent is the lowest hydro rate increase in 10 years, and that it would result in an average residential annual increase of $35.
“Manitobans deserve a financial break during this pandemic and that’s why we’re keeping rates among the lowest in North America.”
Scott Fielding says these limited rate increases will be introduced as amendments to bill 35: the public utilities ratepayer protection and regulatory reform act.
Fielding says the act would reduce the regulatory costs currently paid by ratepayers by an estimated $40 million by moving to multi-year general rate applications, as is the case in other jurisdictions.
“All members of the legislative assembly will vote and debate this rate increase on bill 35. This will give the Public Utilities Board time to implement reforms, and allow the Utilities to prepare a more rigorous multi-year review and application process.”
The ministers noted bill 35 would create a stronger and more independent Public Utilities Board with the power to review any major projects and contracts worth more than $200 million.
