New bill looks to keep Hydro rates in check

The province passed a bill Thursday it says will help keep Manitoba Hydro rates affordable and improve transparency in the province’s financial reporting.

The NDP government introduced the Budget Implementation and Tax Statutes Amendment Act Thursday.

It will ensure revenue from a new levy on cryptocurrency operations and large AI data centres is returned to Manitoba Hydro residential customers, the province said.

The province expects the bill would save all residential ratepayers roughly $50 per year, and said Hydro bills will be lowered monthly beginning early in the new year.

It will also restore the Workers Compensation Board (WCB) to summary government for the purposes of financial reporting, to “help improve systemic financial governance, accountability and transparency,” the province said in a news release.

“Manitobans deserve a clear and complete picture of the province’s finances,” Finance Minister Adrien Sala said in a news release.

“The previous government removed the WCB from summary financial reporting, a decision that led the auditor general to provide multiple qualified opinions on the province’s books. We are restoring that accountability and financial oversight while protecting the WCB’s independence.”

The province said they have also been working with Deloitte Canada, a professional services firms, to provide advice on WCB’s reporting status and options to strengthen financial governance, transparency and accountability.