Archived News Releases

September 16, 2003

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Energy Savings of 241 Megawatts Achieved, Additional Savings Expected: Sale

To encourage more Manitobans to conserve and become more energy efficient, Tim Sale, minister responsible for Manitoba Hydro, today announced that Manitoba Hydro is lowering the interest rate on Power Smart loans, including geothermal heat pumps, from 8.5 to 6.5 per cent effective immediately. Sale also said that Manitoba Hydro is working to ensure that any new federal home energy efficiency programming complements and builds on existing Power Smart programming.

"Lower interest rates make Power Smart loans more affordable and more attractive for more Manitobans," said Sale. "Over the years, the Power Smart program has helped Manitobans save money on their electricity bills while helping to address the challenge of climate change. We are pleased to build on the Power Smart program."

"Manitoba Hydro is pleased to help ensure Manitobans have convenient options for increasing their home's energy efficiency," said Bob Brennan, Manitoba Hydro president and CEO. "The Power Smart residential loan represents a key facet of our Home Comfort and Energy Savings Program, which provides homeowners with access to technical expertise and financial assistance."

Brennan noted that, to date, over $34.5 million in loans has been issued to over 10,000 of the 16,000 customers who have requested information and/or financing though the program. The program has also benefited the retail sector by stimulating the home renovation industry through participating retailers and contractors.

Sale said that the reduction will also apply to residential geothermal heat pumps to a maximum of $15,000. "Manitobans are discovering that heat pumps are delivering cost savings and comfort as there are more installations of ground source heat pumps per capita in Manitoba than anywhere else in Canada. Reducing the interest rate will make these environmentally friendly systems even more economically attractive."

Sale indicated that Manitoba is working to enhance the Power Smart program by ensuring that the home energy efficiency initiatives, recently announced by the federal government, complement and are closely tied to existing provincial programming. "Manitoba Hydro is working to ensure that the detailed design and roll out of any energy efficiency programs supported by federal funding strengthens and enhances Power Smart programming for Manitoba households."

Sale said that Manitoba wants any new efficiency and renovation programs to:

• be driven by and customized for communities;
• offer a variety of well-tested energy and water saving renovation and technology options;
• provide cash incentives directly to the homeowner for measured savings;
• provide low interest loans and easy online bill repayment options; and
• provide inexpensive, in-home, personalized advice from independent advisors.

Sale congratulated Manitoba Hydro for its commitment to improving the Power Smart program and its recent efforts to promote demand side management of both electricity and gas resources. He said that Manitoba Hydro's Power Smart program is close to achieving its goal of building a "virtual dam", or freeing up for export sale the same amount of energy that would be produced by a new generating station.

He noted that in material recently filed with Manitoba's Clean Environment Commission outlining the justification for the proposed Wuskwatim generating station, the corporation has indicated its strategy to pursue aggressive energy efficiency targets, while pursuing hydro and wind generation.

Sale noted that the corporation has achieved a savings of 241 megawatts in demand through the Power Smart program, with a goal of 356 megawatts by 2011-12. Sale said that the accumulated savings of 241 megawatts is the equivalent of the total electricity requirement of Steinbach, Dauphin, Carman, Neepawa and Morden, or the production of a generating station larger than the proposed Wuskwatim station.

"Today's announcement complements the parallel development of the province's significant low impact hydro power resources such as the Wuskwatim project," noted Sale. "Successful energy efficiency programs help to keep domestic power consumption down, making more power available for export to displace less environmentally desirable fossil fuel generation, which in turn helps keep electricity rates low for Manitobans. We look forward to working with Manitoba Hydro to further enhance the Power Smart program in the future."

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