Manitoba Wildlands  
Manitoba Hydro Debt Causes Concerns 27 August 09

MB Hydro logoManitoba Hydro lost $443 million last year and has accumulated a debt load of more then $7.6 billion, prompting the Provinces Auditor General to review the Crown corporation's debt levels, drought risk and other liabilities.

A formal whistleblower complaint made months ago under the new Public Interest Disclosure Act prompted the audit. Auditor General Carol Bellringer will examine management practices that identify, measure and monitor risk at Manitoba Hydro.

The Manitoba Public Utilities Board has raised serious concerns over the company's ambitious $18 billion construction plans to build Conawapa and Keeyask dams, plus a high voltage transmission power line along the west side of Lake Manitoba.

Hydro President Bob Brennan says he is not worried by the audits. He says the public utility is managing risks well while keeping rates among the lowest in North America. The Hydro audits will probably not be competed until next year.

View August 11, 2009 CBC News article
View August 19, 2009 MySteinbach.ca article
View August 12, 2009 Winnipeg Free Press article
View August 15, 2009 Portage Online article
View Manitoba Hydro's Annual Report for the year ending March 31, 2009

Sources: Winnipeg Free Press, CBC
   Print version Top


Manitoba Wildlands2002-2014