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flag Manitoba Hydro reports $293M first-half loss due to drought and wildfires, seeking 3.5% rate hikes.

flag Manitoba Hydro reported a $293 million net loss in the first half of 2025-26, more than double the same period last year, due to a third consecutive year of drought, low water levels, and wildfire damage. flag The utility projects a full-year loss of about $409 million, contributing to a provincial deficit now forecast at $1.6 billion. flag To address the shortfall, Manitoba Hydro is seeking a 3.5% annual electricity rate increase over three years, with hearings ongoing.

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