Winnipeg, Manitoba — Some much deserved relief could be on its way to Manitoba drivers as MPI has announced that it has requested a 1.2 percent rate decrease and $335 million rebate from the Public Utilities Board (PUB).
Manitoba Public Insurance (MPI) originally filed its preliminary 2022/23 General Rate Application with the PUB in June and has since updated its application, which now requests a 1.2 percent rate decrease.
As well, in this latest revision MPI had the Capital Release provision removed in order to allow the surplus capital to be given to drivers in the form of a rebate. If approved, this will be the second largest rebate in corporate history. In 2011, MPI rebated ratepayers $336 million.
“MPI continues to demonstrate strong financial performance, which has resulted in its applying for a third consecutive rate decrease, and in time, applying for a third consecutive customer rebate,” said crown services minister Jeff Wharton.
“The COVID-19 pandemic has been challenging for all Manitobans. I am pleased that Manitoba Public Insurance will once again be in a position to provide its policyholders with much needed financial relief early in the New Year.”
The average amount of the rebate cheques will be confirmed in coming months, however, Manitobans can expect to receive their rebate at some point during the winter of 2022.