The Hawaiian Electric Company has issued a statement that electrical rates will be increasing to 34.7 cents per kilowatt-hour for July 2014. Peter Rosegg, the company spokesman, stated that the increase was necessary because of additional money earmarked for the public benefits fund that oversees the energy efficiency programs, rebates and other things that Hawaii Energy operates. Rosegg stated, "This is a percentage of each bill that Hawaiian Electric Cos. collect by order of the Hawaii Public Utilities Commission and pass in total to Hawaii Energy. Once a year there is (an adjustment) to make sure the proper total amount has been collected (for the previous 12 months)."
Maui residents are paying 37.8 cents per kilowatt-hour. Big Island of Hawaii residents are paying 41.5 cents per kilowatt-hour. Kauai residents pay the most of the four major islands at 42.0 cents per kilowatt-hour. Electrical prices in Hawaii are more than three times the national average primarily because Hawaii uses fuel oil for its power generation. Under the Hawaii Clean Energy Initiative, 40 percent of the state's electricity will have to come from renewable energy sources by 2030.
Source: Honolulu Star Advertiser, 7-22-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
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