Promised Manitoba Hydro rate freeze might be delayed as deficit at utility looms: minister
Dry summer conditions, lower levels of power-generating water among reasons
Manitoba's new NDP government might push back a promise to freeze hydroelectric rates for one year.
New numbers from Crown-owned Manitoba Hydro show the utility is now expecting a net loss this year instead of the profit it predicted in the spring
The utility blames, in part, dry summer conditions and lower levels of power-generating water.
Finance Minister Adrien Sala says the government still intends to temporarily freeze hydroelectric rates, but it might happen later than had been promised during the election campaign.
Sala said the former Progressive Conservative government should have known about Hydro's challenges and released an updated provincial deficit figure to include them.
Tory hydro critic Grant Jackson said the Tories made it clear in their last fiscal update that Hydro's finances would be challenged by the dry weather, and that was the information that was available at the time.
