Manitoba government to use crypto levy to reduce hydro rates

WINNIPEG — The Manitoba government says it plans direct revenue from a levy on crypto operations to reducing residential hydro rates.

Finance Minister Adrien Sala said Thursday that the government expects the measure to bring in about $20 million based on current crypto operations, which would translate into $50 a year in savings per ratepayer household.

“We know that crypto operations need to pay their fair share, and we’re going to use those dollars to help Manitobans,” he said.

Returns on the levy could, however, go down if crypto companies leave the province or go bankrupt from the 100 per cent markup on the rates they now face.

Companies warned at an April committee meeting that the sharp rise in their rates would be ruinous.

The government put forward the changes as part of a budget implementation bill introduced Thursday that would also see the Workers Compensation Board of Manitoba restored to the government for financial reporting purposes.

The change would mean the government would count any surpluses or losses from the WCB towards its whole budget.

Sala said having WCB on the books would create more volatility but also increase transparency.

“If you look at their fiscal results over the last five years, you’ll see that there’s ups and downs, but that’s the price that we’re paying for onboarding and ensuring this transparency here.”

The Tories moved in 2018 to remove WCB results from the books, saying WCB funds are not the government’s money.

Opposition Progressive Conservative legislature member Lauren Stone said in a statement that the proposed legislation, which includes taking on the financial results of the WBC, is not a budget bill.

“This is the second time this government has wrapped legislation as a budget bill to avoid a legislative committee, public scrutiny and overall accountability.”

This report by The Canadian Press was first published Oct. 15, 2026.

Ian Bickis, The Canadian Press