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Manitoba Hydro scales back rate increase next year
WINNIPEG - Manitoba Hydro is scaling back its rate hike request for next year, instead of the annual 7.9 per cent hikes the Crown corporation previously said it would need until 2023-24 to address debt.
Hydro is asking the Public Utilities Board for a 3.5 per cent rate increase next year, which would take effect on April 1.
In last week's application, Hydro said its new board is reviewing the corporation's financial picture. Once that is complete, the utility expects to submit a new multi-year rate application in late 2019 that addresses the organization's long-term future.
"It's too speculative at this point to discuss any possible future rate increases," spokesperson Bruce…
