2023/24 Annual Report shows increasing levels of energy savings achieved, including higher than planned natural gas savings; results provide significant environmental & affordability benefits
Following tabling of reports in the Manitoba legislature, Efficiency Manitoba published their 2023/24 annual results for their fourth year of operations. Reporting includes highlights, accomplishments, financial statements, and independently verified and evaluated 2023/24 energy savings information.
As required by the Efficiency Manitoba Act, electricity and natural gas savings were tabulated and verified by an independent assessor. The results show that in the 2023/24 fiscal year, Efficiency Manitoba’s total electricity savings reached 84% of their legislated target of 1.5% of electric load, while natural gas savings exceeded target, reaching 119% of the legislated target of 0.75% of volume. These savings were realized under their annual budget, meaning results and savings were achieved even more cost effectively than planned.
“Efficiency Manitoba’s 2023/24 fiscal year results show that prioritizing energy efficiency as a ‘first fuel’ is an effective way to meet a portion of Manitoba’s energy needs,” said Tracy Schmidt, Minister of Environment and Climate Change. “As we collectively carry out the objectives outlined in Manitoba’s Affordable Energy Plan, Efficiency Manitoba’s role is imperative in keeping energy bills low, improving affordability for families and businesses, and moving towards a clean, reliable energy future for our province. The electricity and natural gas savings achieved in 2023/24 indicate they are well positioned to deliver on these bold objectives to the benefit of all Manitobans.”
Strong interest and participation in Efficiency Manitoba’s offers resulted in the legislated natural gas savings target being exceeded in 2023/24. Along with this came the additional benefit of significantly reduced greenhouse gas emissions, which contribute to Manitoba’s climate change and net-zero commitments. In 2023/24, Efficiency Manitoba’s work with Manitobans saved 29,100 CO2 eq tonnes of emissions, achieving 113% of their annual target. To the end of the 2023/24 fiscal year, persisting cumulative greenhouse gas emissions reductions represent over 193,000 tonnes since 2020/21.
“I would like to recognize Efficiency Manitoba’s many accomplishments in the 2023/24 fiscal year and since becoming operational in 2020,” said Dr. Jeannette Montufar-MacKay, Chair of Efficiency Manitoba’s Board of Directors. “We’re seeing significant interest in Efficiency Manitoba’s energy efficiency offers, which suggests Manitobans are truly seeing the value in making energy-saving upgrades and choices — both for themselves and for our future as a province. Efficiency Manitoba’s financial incentives and expert assistance are increasingly making it possible for all Manitobans to engage in energy affordability and climate action in a manner that’s meaningful to them, and this is made clear by these impressive annual results.”
Other achievements outlined in the 2023/24 Annual Report and Annual Report Supplement include the following:
- Efficiency Manitoba’s investment in energy efficiency for Manitobans has been increasing every year. As more homes and businesses participate in energy efficiency offers, Efficiency Manitoba continues to provide more incentive dollars to participants. The 2023/24 fiscal year saw the greatest number of incentive dollars paid out to Manitobans since Efficiency Manitoba’s inception. Over $36 million in customer incentives was provided in 2023/24, more than double the $17 million in customer incentives paid out in Efficiency Manitoba’s commencement year. The result is a positive year-over-year trajectory of putting money back into the pockets of Manitobans.
- Efficiency Manitoba helped Manitobans save $15.9 million on their energy bills in 2023/24 (including both electric and natural gas savings as well as the federal carbon charge).
- Efficiency Manitoba’s customer satisfaction is very high, with nearly 90% of customers indicating they were highly satisfied with their experience with Efficiency Manitoba when making energy efficiency upgrades.
“From exceeding our natural gas savings target to delivering more incentive dollars than ever before, there’s truly so much to be proud of when looking at how much Efficiency Manitoba has achieved with the participation of Manitoba households and businesses,” said Colleen Kuruluk, Chief Executive Officer of Efficiency Manitoba. “These results provide a stable foundation as Manitoba moves away from fossil fuels and into a more electricity-focused future. Efficiency Manitoba is ready to do our part in navigating the energy transition with diverse offers, financial assistance, and a clear vision of a more affordable and energy-efficient future for everyone who lives and works here.”
The 2023/24 Annual Report and Annual Report Supplement can be accessed at efficiencyMB.ca/document-library.
About Efficiency Manitoba
Efficiency Manitoba is Manitoba’s Crown corporation dedicated to energy efficiency. With legislated long-term energy savings targets to achieve, the organization has over 40 diverse offers available to help Manitobans save energy, money, and the environment.
Release date: October 15, 2024