The Manitoba Public Utilities Board approved a 3.6% electricity rate increase for 2018. This increase is concerning for you and could impact your business, but it is much lower than the 7.9% increase that Manitoba Hydro asked for.
CFIB presented your concerns to the Public Utilities Board, and outlined the significant impact that these cost increases could have on small businesses across the province.
How we got here:
Manitoba Hydro is facing many financial pressures, including delayed and over-budget infrastructure projects.
As a result, Hydro plans to seek annual electricity rate hikes of 7.9% until 2023-2024, which must be approved by the Public Utilities Board.
Working to reduce your Hydro costs:
CFIB knows that the proposed rate hikes could hurt your business. You told us these increases could force you to raise prices, delay investments, and even reduce the number of staff. We shared our concerns with the provincial government and Public Utilities Board.
- Instead of raising electricity rates, Manitoba Hydro needs to focus on lowering costs and finding efficiencies. Hydro took a step in the right direction by reducing its workforce by 900 positions, but more can and must be done;
- CFIB is also calling on the provincial government to remove PST charges for small businesses on Hydro bills.
Ways to help your business save on electricity costs:
If your business is facing a cost crunch from increasing Manitoba Hydro rates, call CFIB today at 1-888-234-2232 and/or visit the websites below to find ways your business can lower your electricity usage.