Manitoba Hydro has submitted its General Rate Application with the Public Utilities Board.
“While we know rising costs are tough for many of our customers right now, and that no one wants to pay more for their energy, the rates we’re asking for are necessary to ensure we’re able to provide our customers with the safe and dependable service they need today and in the future,” said Jay Grewal, Manitoba Hydro’s President, and CEO
Hydro is seeking confirmation from the Board on the 3.6% interim rate increase it awarded in January of this year, as well as further increases of 3.5% on October 1st, 2023, and another 3.5% on April 1st, 2024.
“These proposed increases will help ensure Manitoba Hydro has the financial resources available to handle the risks created by our $24 billion debt load, and factors that are out of our control like fluctuating interest rates, export market prices, and water levels,”
During last year's drought, Manitoba Hydro Experienced a $248 million loss, while high precipitation and better prices on the export opportunity market this year mean the utility is projecting a net income of $559 million.
The Public Utilities Board has released a public notice about the application, and there are three ways that Manitobans can voice their opinion on the issue.
- As a Presenter – If you want to make a virtual or in-person formal presentation to the Public Utilities Board on this matter and are willing to respond to questions about your presentation, please go to www.pubmanitoba.ca and apply to become an approved Presenter. Presentations are limited to a maximum of 10 minutes.
- Written Comment – If you would like to comment in writing on the rate increase, please go to www.pubmanitoba.ca and provide your written comment.
- As an Approved Intervener – If you want to actively participate in the public hearing as an Intervener, please go to www.pubmanitoba.ca and apply for Intervener status. Interveners are required to represent the interests of a significant group of customers and may be required to combine their intervention with others representing similar interests.
