New numbers from Crown−owned Manitoba Hydro show the utility is now expecting a net loss this year instead of the profit it predicted in the spring

The utility blames, in part, dry summer conditions and lower levels of power−generating water.

Finance Minister Adrien Sala says the government still intends to temporarily freeze hydroelectric rates, but it may happen later than promised during the election campaign.

Sala says the former Progressive Conservative government should have known about Hydro’s challenges and released an updated provincial deficit figure to include them.

Tory hydro critic Grant Jackson says the Tories made it clear in their last fiscal update that Hydro’s finances would be challenged by the dry weather, and that was the information that was available at the time.

This report by The Canadian Press was first published Nov. 24, 2023

The Canadian Press