POSTED: 4:43 p.m. HST, Feb 2, 2012
Hawaiian Electric Co.’s business customers can save thousands of dollars a month on their electric bills by participating in a new program that allows the utility to turn off power to nonessential facilities on short notice during critical energy situations.
Businesses that sign up for the Fast Demand Response program will receive a monthly credit whether or not their power is turned off. They will receive an additional per-kilowatt hour credit if their power actually is interrupted.
The program is designed to help HECO maintain the reliability of its electrical distribution system as it adds more renewable energy to the grid, the company said in a news release.
“With Fast DR our commercial customers have another tool to help manage their electricity costs while helping reduce Hawaii’s dependence on expensive and volatile imported oil,” said Scott Seu, HECO vice president for Energy Resources.
Fast DR participants will receive $5 a kilowatt per month with a minimum of 50 kilowatts whether or not a DR event is triggered. For example, a business that is willing to turn off equipment that normally requires 50 kilowatts of power could receive a credit of $3,000 on their bill. An additional incentive of 50 cents a kilowatt hour is paid when a DR event occurs, based on energy not consumed compared to energy the customer would have normally used.