Maui Electric Bills Increase Slightly in March
While many islands are experiencing the lowest montlhy electric bills in years due to falling oil prices, on Maui, electric bills are slightly higher this month.
The contracted price for wind energy is currently higher than the cost of using oil to generate electricity; Maui Electric is forecasted to use more wind energy in March.
However, the typical Maui residential customer is still paying $44.68 less than in January 2015, the month fuel prices were highest in 2015. Maui customers are paying $76.11 less than in September 2008, when fuel prices were at an all-time high.
|Island||Typical residential bill*||Effective rate per kilowatt-hour||Date when typical residential bill was last lower than this month|
|O‘ahu||$123.06||22.6 cents||January 2010: $122.34|
|Hawai‘i||$154.26||28.5 cents||April 2007: $152.01|
|Lāna‘i||$124.12||28.6 cents||June 2009: $123.99|
|Moloka‘i||$122.61||28.2 cents||July 2009: $120.14|
|*Based on 500 kwh/month for O‘ahu, Hawai‘i Island, and Maui; 400 kWh/month for Moloka‘i and Lāna‘i|
Electric customers on O‘ahu, Moloka‘i and Lāna‘i are seeing the lowest monthly electric bills in more than six years, largely due to the continued drop in fuel prices.
Bills for customers on Hawai`i Island are the lowest in nine years.
“Our customers are continuing to receive the savings from low oil prices,” said Darren Pai, Hawaiian Electric spokesman. “But for the long-term, continuing to rely on oil is a bad bet and that’s why we are committed to transitioning to low cost renewable energy to reach our state’s energy goals and ensure sustainable savings for our customers.”
“The price of oil is historically volatile, so it can go back up just as quickly as it came down,”Pai said. “And with the heat of summer and the humidity we experience in the fall months ahead, we encourage customers to continue to focus on good energy-saving habits,”