HECO files request for approval of a rate increase – Docket No. 20119-0085Posted on Sep 10, 2019 in Hot Topics, Important Dockets
Hawaiian Electric (HECO) filed an application for a rate increase with the Public Utilities Commission (PUC). The request is for a 4.1 percent, or about $77.5 million increase in revenues. HECO contends the increase on Oahu will help pay for operating and capital costs, including upgrades to strengthen the grid and integrate more renewable energy.
The rate filing is part of a required periodic regulatory review. The last rate review application was filed in 2016 and resulted in a decrease to customer rates overall, largely due to the pass-through of savings from federal tax law changes.
If HECO’s current request is approved, HECO estimates a typical residential customer on Oahu using 500 kilowatt-hours a month would see an increase of $8.67 a month.
HECO rates are “decoupled” – a regulatory model that is meant to weaken or break the link between a company’s sales and revenues.