The Public Utilities Board (Board) has approved an interim 4.0 per cent general rate increase for Manitoba Hydro, effective January 1, 2026. The increase applies to all customer classes, except classes in Manitoba Hydro’s Diesel Zone.
The increase is higher than the 3.5 per cent sought by Manitoba Hydro in its general rate application and reflects the impact of a severe drought. Water flows into Manitoba Hydro’s watershed are currently at the second lowest level in 112 years. As a result of the severe drought, Manitoba Hydro’s financial metrics have deteriorated by more than $625 million. In the Board’s view, an increase equal to the legislated rate cap of 4.0 per cent is necessary to protect the financial health of the utility.
The Board will issue a final order in Manitoba Hydro’s Fiscal 2026-2028 General Rate Application in 2026. In that order, the Board expects to approve a final rate for the 2025/26 fiscal year and the remaining two years of the rate period. The final order will also address all other issues raised in the application.
The PUB is an independent, quasi-judicial administrative tribunal that has broad oversight and supervisory powers over public utilities and designated monopolies, as set out in statute. The PUB considers both the impact to customers and financial requirements of the utility in approving rates.
