HELCO, biofuel maker propose less costly deal

By Alan Yonan Jr.

POSTED: 01:30 a.m. HST, Aug 03, 2012

~~<p>Hawaiian Electric Co.'s Hawaii island subsidiary has submitted a new proposal to buy locally produced liquid biofuel for electricity generation after a previous plan was rejected by regulators as being too expensive.</p>
<p>HECO said the price of the biofuel in a proposed 20-year contract between Hawaii Electric Light Co. and Aina Koa Pono would be about $125 million less than what was in the previous contract, nixed by the Public Utilities Commission in September. HECO did not disclose the actual price per barrel of the biofuel.</p>
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Hawaiian Electric Co.'s Hawaii island subsidiary has submitted a new proposal to buy locally produced liquid biofuel for electricity generation after a previous plan was rejected by regulators as being too expensive.

HECO said the price of the biofuel in a proposed 20-year contract between Hawaii Electric Light Co. and Aina Koa Pono would be about $125 million less than what was in the previous contract, nixed by the Public Utilities Commission in September. HECO did not disclose the actual price per barrel of the biofuel. Login for more...