WINNIPEG WEATHER

HYDRO APPLIES TO INCREASE RATES 7.9% ANNUALLY

 

 

Hydro plans same increase until 2022

 

 

 

 

 

Manitoba Hydro submitted an application to the Public Utilities Board (PUB) requesting a rate increase of 7.9% for 2017 and and additional 7.9% for 2018.

The Crown corporation has said that their intent is to ask for the same increase for the next five years then ask for 2% annually after that.

A 7.9% increase is equal to about $6.88 per month in 2017 and $7.43 per month in 2018.  Manitoba Hydro customers will be paying 46% more per month after five years.  

“Without question, developing two major projects, the Keeyask Generating Station and Bipole III transmission line at the same time, has resulted in Manitoba Hydro taking on a significant amount of debt to finance the construction of those projects,” said Kelvin Shepherd, President and CEO of Manitoba Hydro.

“As part of our balanced approach to restore the financial health of the company and to protect our customers from more significant rate increases in the future, Manitoba Hydro is also accelerating cost-containment measures, including reducing our staffing by 900 and looking for additional efficiencies in our operations, such as improved asset management measures and new ways to streamline processes,” Shepherd said.

The PUB will make the decision about how much, if any, of a rate increase hydro will receive.

 

 

-News4 Staff-

 

 

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