According to a report released by the Hawaiian Electric Company, residential electrical rates on the island of Oahu will drop from the 35.1 cents per kilowatt-hour charged in December to 32.6 cents per kilowatt-hour for the month of January 2012. This is welcome news for Oahu residents who saw rate increases for each of the past four months. HECO spokesman Peter Rosegg stated, "While this dip is good news, we caution customers that fuel prices are not expected to continue significant drops. Overall, rates remain high, creating a difficult burden for families and businesses. The long-term solution is to continue to pursue local renewable electricity and fuel sources that can be purchased with long-term fixed-price contracts."
Electrical rates on Kauai were posted at 40.3 cents per kilowatt-hour for January. On the Big Island of Hawaii, rates were 42.1 cents per kilowatt-hour, and on Maui, rates were 37.6 cents per kilowatt-hour.
Source: Honolulu Star Advertiser, 1-11-2012, www.staradvertiser.com Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor Global Executive Realty, LLC www.myhawaiihomesearch.com www.myhawaiicondo.com www.myhawaiidreamhome.com
