MECO Rate Increase ApprovedMay 23, 2012, 9:35 AM HST · Updated May 23, 10:20 AM 0 Comments
By Sonia Isotov
On Monday, May 21, the Hawaii Public Utilities Commission (PUC) issued a decision approving Maui Electric Company’s (MECO) interim rate increase request allowing a 3.16% rate increase.
This was less than the 4% to 5.75% increase the MECO was asking for to make up $13 million in revenues.
According to MECO’s request, rate relief was needed due to “increased operations and maintenance expenses and additional investments in plant and equipment required to maintain and increase system reliability, meet expected load growth, and integrate increasing levels of renewable energy.”
The new rate increase will take effect June 1 and be spread over all the rate schedules.
“At Hawaii Energy, the conservation and efficiency program for Maui, Hawaii and Honolulu counties, we too are not happy about the fact that Maui residents pay some of the highest rates for electricity in the country,” said Walter Enomoto, a Maui resident and a program specialist for Hawaii Energy.
“The upcoming rate increase could potentially create additional financial burden for us all, but there are things that each of us can do to combat this in our homes and in our businesses. Taking energy efficient actions can take away some of the impact of this rate increase.The purpose of our program is to help consumers save money by conserving energy and living more efficiently.”