Electrical Rates to Increase for February 2014

The Hawaiian Electric Co. announced that residential electrical rates will increase to 34.7 cents per kilowatt-hour for the island of Oahu in February 2014.  This is a 1 cent increase from the 33.7 cents per kilowatt-hour that HECO charged a month prior.  According to officials of the company, the increase is mainly due to the fact that one of the main coal-fired plants located in the Campbell Industrial Park was taken offline for maintenance. Electrical rates should decrease once this plant is back in operation.

In comparison, Maui Electric Co charged their customers 37.2 cents per kilowatt-hour.  The Kauai Island Utility Cooperative charged 42.3 cents per kilowatt hour and Big Island of Hawaii residents paid 40.6 cents per kilowatt-hour.  The national average, as stated by the U.S. Energy Information Administration, was 12.1 cents per kilowatt-hour.

Source: Honolulu Star Advertiser, 2-22-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com