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Thursday, December 18, 2014

Electricity Prices Lower in December 2014 Due to Decreasing Fuel Prices

According to report released by Hawaiian Electric Company, the average customer will spend $197.32 for 600 kilowatt-hours in December 2014, which marks the first time since May 2012 that the average bill has been less than $200. Peter Rosegg, HECO spokesman, stated, "Most of the present fall in Oahu electric bills is due to less expensive fuel. A typical Oahu bill has dropped by almost $22 since September. Our goal continues to be lowering electric bills by adding renewable energy, with our commitment to 65 percent renewable energy by 2030. And we plan to use lower-priced, cleaner natural gas to replace imported oil, which remains volatile in price." Oahu residents paid 31.2 cents per kilowatt-hour in December 2014.

Source: Honolulu Star Advertiser, 12-18-2014,
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC