New bill looks to keep Hydro rates in check

The province introduced a bill on Thursday aimed at keeping Manitoba Hydro rates affordable and enhancing financial reporting transparency. The Budget Implementation and Tax Statutes Amendment Act seeks to return revenue from cryptocurrency operations and large AI data centres to residential Hydro customers, saving Manitoba Hydro ratepayers an estimated $50 per year on average.

Beginning early next year, Hydro bills will be reduced monthly. The bill also restores the Workers Compensation Board (WCB) to summary government for better financial reporting, accountability, and transparency. Finance Minister Adrien Sala emphasized the need for a clear view of the province's finances, highlighting the previous government's removal of the WCB from summary financial reporting, which led to multiple qualified opinions from the auditor general.

The province is partnering with Deloitte Canada to advise on WCB's reporting status and explore ways to strengthen financial governance, transparency, and accountability.