Manitoba Hydro is asking the Public Utilities Board to approve a 3.5 per cent rate increase to start next April, instead of 7.9%.
According to the application for the increase, the new rate should bring in approximately fifty-nine million dollars. However, Manitoba Hydro's debt remains around 19-billion dollars.
Hydro also expects their net income to be lower than projected next year, due to reduced export sales, as well as depreciation and financing costs associated with Bipole III.
