Public Utilities Board approves an interim Hydro rate increase.

The Public Utilities Board approved a 3.6% interim hydro rate increase that will go into effect on January 1st, 2022.

Manitoba Hydro was initially requesting a 5% increase.

The interim 3.6% increase in General Consumers Revenue will be recovered through rate increases to Manitoba Hydro customers.

Most customers fall within eight rate classes, and there will be no increases to the rates for certain customer classes in the Diesel Zone, or to Surplus Energy Program rates.

This increase will address the financial consequences of the drought experienced in Manitoba in 2021, and avoid rate shock by smoothing the rate increases to customers required to address the cost of major capital projects entering service.

The 3.6% increase will remain in effect until November 15, 2022 unless Hydro files a General Rate Application before then seeking increases for 2022/23 and 2023/24.

The interim revenue increase will be thoroughly reviewed in the General Rate Application process with an application to be filed by Manitoba Hydro in 2022.