A $58-million rebate to Manitoba Public Insurance ratepayers has been approved.
The Public Utilities Board (PUB) approved the rebate Wednesday after a virtual meeting on April 29 and 30.
“The Application and the evidence at the hearing was that the proposed rebate would accelerate the return of excess capital to policyholders in the form of a one-time payment instead of assessing lower rates in the future,” reads the decision.
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The Board decision says MPI must issue the rebate by May 31.
Read the decision below:
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