Legislative amendments are being introduced this fall that will set interim rates for Manitoba Hydro and limit annual rate increases to 2.5 per cent for 2021, 2022 and 2023.
The proposed 2.5 per cent rate increase that comes into effect each December will be about 25 per cent lower than the average annual increase over the past ten years. The province says the increase would amount to about a $35 increase annually to the average residential rate.
“Our government is proposing a modest increase of 2.5 per cent, the lowest hydro rate increase in 10 years,” said Crown Services Minister Jeff Wharton. “Manitobans deserve a financial break during this pandemic and that’s why we’re keeping rates among the lowest in North America.”
The government intends to amend Bill 35 with the rate increases. Bill 35 is the public utilities ratepayer protection and regulatory reform act.
The province say that these rate increases will be approved by the legislative assembly in order to give the Public Utilities Board (PUB) time to implement reforms and allow utilities time to prepare for multi-year reviews.
“Bill 35 makes the Public Utilities Board stronger and more independent while maintaining its powers of oversight and ensuring transparency on major projects,” said Finance Minister Scott Fielding.
© News4.ca 2021