News Releases

News Release - Manitoba

November 24, 2023

Statement from Finance Minister Adrien Sala, Minister Responsible for Manitoba Hydro, on Hydro Second Quarter Report



Manitoba Hydro belongs to Manitobans. Our government’s responsibility is to ensure Manitoba Hydro can continue to deliver affordable rates for generations to come, while creating good jobs to launch our province into the low-carbon economy of the future. 

The previous government budgeted Manitoba Hydro’s net income for this fiscal year at $450 million, but the second quarter report published today shows that Hydro is projecting a net loss of $161 million. This outlook has changed by over $600 million in just six months.  

This raises serious questions about the accountability and transparency of the previous government regarding Hydro’s books. The former government’s decision not to be open and honest with Manitobans about Hydro’s future was irresponsible. 

As the minister of finance and minister responsible for Manitoba Hydro, it is my commitment to provide ongoing accountability and transparency regarding Hydro’s fiscal picture. We will work alongside Manitoba Hydro to keep our crown jewel public, deliver affordable rates for families, respect the role of the Public Utilities Board and freeze rates while being responsible stewards of the public purse. 

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