Manitoba Hydro Debt GIGANTIC!

For those that have not been following the Manitoba Hydro Saga and are happy with our low utility rates get ready for a SHOCK! With just over 1.2 million people in Sunny Manitoba, Our crown corporation known as ‘Manitoba Hydro’ is expecting a 25 Billion dollar deficit in the coming years to complete Bi Pole III and Keeyask. At a recent public hearing the CEO told listeners to expect higher than the forecasted 4% rate increase for the next 15-20 years? A $25 Billion dollar deficit amounts to over $80,000 per average house hold in Manitoba, something will need to change.

Even more alarming is that Manitoba Hydro’s potential energy customers down south are backing away from our energy. Minnesota and North Dakota are investing heavily in their own green energy including solar electrical, wind turbines, geothermal and solar PV. This is leaving very little future demand for Manitoba Hydro’s energy. So who is left to pay for the surplus of energy that we currently have? In a normal economy a surplus means lower prices. But not when you’re $25 Billion in the hole! Manitoban’s can expect a huge increase in rates says Graham Lane, a chartered accountant who served as PUB chairman from 2004-12. He says he warned Hydro over a decade ago about costs spiralling out of control.

So what can Manitoban’s do? Invest in Green Energy Solutions now! Manitoba Hydro’s Solar Program and Geothermal program are limited time offers so those that want to secure their future should act now! Companies can now get up to $2.50 per square foot for switching over to geothermal which can save them 60-70% of their heating and cooling costs. Home owners, Business and organizations such as community centers should be fast to take advantage of the solar program that allow up to $200,0000 subsidy for solar PV installation or approx. 30% rebate. $1,500 tax credit are available for solar thermal from the Province. Now is the time

For more information on the recent public hearing visit www.cbc.ca/news/canada/manitoba/manitoba-hydro-bipole-transmission-line-1.3811316