PUC Approves First Hawaiʻi Electric Light Rate Increase in 6 Years
The approved interim rate will increase the typical Hawai‘i Island monthly residential bill for 500-kilowatt-hours by $4.98. Over the last 12 months, the average monthly residential bill has been $162.58. The 3.4% increase—$9.9 million in annual revenue—will help pay for capital improvements including grid upgrades and extensive vegetation management work that is credited with reducing outages and their duration during storms.
Since 2014, Hawai‘i Electric Light has spent more than $14 million on tree trimming and removal, concentrating on areas where non-native albizia trees threaten utility equipment and highways.
Today’s interim decision is consistent with a settlement reached last month between
Hawaiʻi Electric Light and the Hawai‘i Division of Consumer Advocacy. The settlement reduced by nearly half the original request for a 6.5% increase in revenue.
The effective date of the new rate will be determined by the commission.
An interim decision is one step in the ratemaking process. The PUC will continue to review the request and will later issue a final decision. If a lower final amount is approved, the difference will be refunded to customers with interest. If a higher amount is approved, the increase will only be applied going forward from the time it is approved, not retroactively.
About Hawai‘i Electric Light
Hawai‘i Electric Light leads the state in the use of renewable resources to generate electricity, relying on a diverse portfolio of wind, solar, geothermal and hydropower. Since 2010, the company has increased the use of renewables from 35% to 57% as of June 2017.
Several programs are available that provide financial assistance for those who are in need, including the Hawai‘i Low Income Home Energy Assistance program (LIHEAP), Ohana Energy Gift Program and the Special Medical Needs Program. The Time-of-Use program, which offers lower rates during the daytime hours, can help you save money if you’re flexible on when you use energy.
Go to www.hawaiielectriclight.com for more information.