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Manitoba Hydro Finances

Manitoba Hydro: Revenue, Taxes and Debt1
(in millions of Canadian dollars)

  2009-102 2008-09 2007-08 2006-07 2005-06
 Revenue (electricity + natural gas operations)3 2,053 2,364  2,250  2,140 2,345
 Revenue (electricity operations only) 1,599 1,784 1,722 1,632 1,828
 Export Revenue (from electricity sales) 427 623 625 592 827
        Revenue from sales to other provinces4  66  132 110 85 173
        Revenue from exports to the US5 361 491 515 507  654
Profit (electricity + natural gas operations)  163 266 346 122 415
Water Rentals Paid6  121 123  124 112 131
Other Taxes Paid  99 87 80  77 77
Long-term Debt 8,228  7,668 7,218  6,822 7,051

 
 

Manitoba Hydro's Financial Legacy

All figures below in Canadian dollars.

 

  • Total amount paid in compensation and mitigation for "all project-related impacts" (up to March 31, 2010): $701 million7

 

  • Accumulated Manitoba Hydro revenue (from electricity operations) from 1977 (the first full year Churchill River Diversion and Lake Winnipeg Regulation were in operation) to 2010: $40.7 billion8

 

  • Accumulated Manitoba Hydro profits from 1977 to 2010: $2.7 billion9
     
  • Accumulated Manitoba Hydro water rental payments to the province since 1977: $2.1 billion10
     
  • Export revenue brought into the province by Manitoba Hydro in the last decade: $5.53 billion11
     

  • Water rentals and taxes paid to the province in last decade: $1.82 billion12

 

Percentage by which residential electricity rates have risen in Manitoba since July 2004: 2213


More fact sheets:
Hydropower Worldwide
Manitoba Hydro Finances
Manitoba Hydro Operations
Exports
Wind Energy
       See also: Impacts
                        The Future of Hydro

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Notes

  1. Source: Unless otherwise noted, figures in the table is from the 2009-10 Manitoba Hydro Annual Report, page 100.
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  2. For the fiscal year ended March 31 of the latter year listed (e.g. “2009-10” is April 1, 2009 to March 31, 2010).
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  3. Manitoba Hydro sells both electricity and natural gas.
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  4. Sources: For 2009-10 and 2008-09, the figures are from 2009-10 Manitoba Hydro Annual Report, page 80; for 2007-08 and 2006-07, the figures are from 2007-08 Manitoba Hydro Annual Report, page 98; for 2005-06, the figure is from the 2005-06 Manitoba Hydro Annual Report (no longer available online).
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  5. Ibid.
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  6. "Water rentals are paid to the Province of Manitoba for the use of water resources. . . ." (2009-10 Manitoba Hydro Annual Report, p.80). Manitoba Hydro pays $3.34 per MWh of electricity generated. Water rentals are common practice in provinces with hydro-electric generation.
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  7. Source: 2009-10 Manitoba Hydro Annual Report, page 96, Note 21. The bulk of this has gone to northern Cree communities.
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  8. Calculated in 2009 dollars (using Statistics Canada Consumer Price Index data and calculation formula). Sources: Manitoba Hydro annual reports from 1977 to present.
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  9. Ibid.
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  10. Ibid.
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  11. Source: 2009-10 Manitoba Hydro Annual Report, page 100.
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  12. Ibid.
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  13. Sources: Manitoba Public Utilities Board Orders 34/05, 20/07, 90/08, 32/09, and 18/10. 
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