News - Manitoba Hydro

Manitoba Hydro has advised the Public Utilities Board (PUB) it will update its multi-year General Rate Application (GRA) with the PUB and reduce its requested electricity rate increase to two per cent in each of the fiscal years 2023-24 and 2024-25.

Manitoba Hydro released its 2021-22 annual report showing a total consolidated net loss of $248 million for the fiscal year ended March 31, 2022, compared to consolidated net income of $119 million the previous year.

For the third week in a row, Manitoba Hydro is warning residents and resource users along the Winnipeg River from Pointe du Bois to Sagkeeng First Nation of increased water flows due to extremely high precipitation in Northwest Ontario and Southern Manitoba this spring.

The Public Utilities Board (Board) varied Manitoba Hydro’s request for an interim 5 per cent increase in General Consumers revenue and approved a 3.6 per cent interim increase in General Consumers Revenue, effective January 1, 2022.

Manitoba Hydro filed its 2021-22 Interim Rate Application with the Public Utilities Board (PUB) yesterday requesting an overall average five per cent electricity rate increase, effective Jan. 1, 2022. The Corporation was directed to file an application with the PUB following cancellation of Bill 35 and the associated electricity rate increase.

Manitoba Hydro released its second quarterly report for the first six months of the 2021-22 fiscal year today showing the utility forecasts an approximate $400 million reduction in net export revenues due to the ongoing drought.

Manitoba Hydro released its annual report today showing a total consolidated net income of $119 million for the fiscal year ended March 31, 2021, an increase of $20 million compared to the previous year.

The Manitoba government will introduce legislative amendments this fall that would set interim rates for Manitoba Hydro and limit annual rate increases to 2.5 per cent for 2021, 2022 and 2023.

Financial information submitted by Manitoba Hydro to the Public Utilities Board demonstrates there has not been a substantial change in Manitoba Hydro’s financial circumstances since the last General Rate Application in 2017-18.

The first unit at the Keeyask Generating Station went into commercial service this past week, adding another source of clean, renewable electricity to Manitoba Hydro’s energy supply.