Manitoba Hydro looking for 3.5 per cent rate hike in October

WINNIPEG --
Manitoba Hydro is looking for a potential rate hike come the fall.
During a legislative committee meeting Tuesday morning, Manitoba Hydro President and CEO Jay Grewal revealed the Crown Corporation is looking for a 3.5 per cent rate increase to take effect Oct. 1, 2021.
"The rate increase that we presented will allow Manitoba Hydro over the longer term to move towards being able to start to generate net income to be able to pay down its debt and to get closer to achieving that 75-25 debt-equity target," she told the Standing Committee on Crown Corporations.
Grewal said Hydro believes the assumed rate hike – which has not been approved – is required.

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