The state Public Utilities Commission has approved an interim base-rate increase by Hawaiian Electric Co. that will raise the typical monthly electrical bill for Oahu customers by about $2.82.
The approximate 2.5 percent increase, which is the first for HECO in more than six years, will help pay for initiatives that increase reliability and resilience, improve customer service and help integrate more renewable energy.
The effective date of the new rate will be determined by the commission.
In December 2016, HECO submitted a filing with the PUC asking for a 6.9 percent increase.
“After going six years without a base rate increase, while investing in work to move Hawaii to reach 100 percent renewable energy in full support of our state’s recently adopted policy, we’re extremely disappointed with this outcome,” Alan Oshima, president and CEO of Hawaiian Electric, said today. “It’s especially disappointing because we worked for months to achieve what we believed was a fair negotiated settlement with the Consumer Advocate that was in the best interest of customers.”