Manitoba Hydro Update Shows that PC Plan Is working; NDP Plan Would Hike Hydro Rates Long-term
Only our PC Team is committed to stopping using Hydro as the government’s cash cow: MLA Teitsma
A media release from Manitoba Hydro today announced that the utility is reducing its rate application to just two percent for the next two years.
We are reducing the water power rental fee and the debt guarantee fee by 50 per cent, which will directly contribute to cost savings for ratepayers. In turn, this will allow Manitoba Hydro to pay down more of the reckless NDP debt they owe, lowering their interest payments and providing further savings to ratepayers.
“Our government is taking real action to reduce Manitoba’s Hydro debt the NDP caused – which, in turn, will keep rates low,” said MLA for Radisson James Teitsma. “Shameful mismanagement of Hydro from the NDP straddled our public utility with $24 billion in debt.”
The NDP’s tripling of Manitoba Hydro’s debt over a 12-year period amounted in $16,000 in additional costs per household across Manitoba. Since our PC government took office, we have made important changes to strengthen the Public Utilities Board and Manitoba Hydro.
“We are protecting Manitobans and Manitoba Hydro from higher rate increases in the future and ensuring we review and expand our Hydro-electric system as required. Hydro is a great Manitoban resource that needs to be managed effectively,” said Teitsma. “The NDP’s fake ‘rate freeze’ policy would mean a rate shock of more than 20 per cent after just a few years – which would cost the average Manitoba family hundreds per year.”
Manitobans saw the scathing Expert Review of Bipole and Keeyask, which detailed the NDP’s meddling into Manitoba Hydro and the billions in debt that they incurred through political interference. Today, Wab Kinew’s NDP are calling for even more interference in the Public Utilities Board which would make rates go even higher long-term.
“Manitoba Hydro is one of the most important partners in shaping our province’s economic future. We will continue to work with Manitoba Hydro to provide clean, hydro-electric power to Manitobans and Manitoba businesses, while keeping rates among the lowest in Canada for years to come,” said Teitsma.
-30-