Manitoba government says it will use crypto levy to reduce hydro rates

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

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

The 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 restored to the government for financial reporting purposes.

Sala says having WCB on the books will create more volatility but also increase transparency.

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

Copyright 2026, The Canadian Press. All rights reserved.