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Hydro rates increase by 3.36 per cent

Manitobans are paying a bit more for electricity. Manitoba Hydro has received approval for a 3.36 per cent rate hike that took effect August 1. Hydro had originally sought an increase of 7.9 per cent.
Hydro

Manitobans are paying a bit more for electricity.

Manitoba Hydro has received approval for a 3.36 per cent rate hike that took effect August 1.

Hydro had originally sought an increase of 7.9 per cent. The company previously said it would also seek a 7.9 per cent increase to take effect in August 2018.

The increase comes after a series of difficulties for Manitoba Hydro. The company has announced plans to eliminate 900 jobs and faces an increased debt load due to two ongoing projects, the Bipole III transmission line and the new Keeyask Generating Station.

By its own estimates, Manitoba Hydro is $16 billion in debt and expects that debt will likely grow by as much as $8 billion in the next five years.

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