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Senator Lorraine R. Inouye

Lower fuel prices to bring down bills on 4 islands

Good news on electric rates: Lower fuel prices to bring down bills on 4 islands

On O‘ahu, bill impact of coal plant closure less than forecast

HONOLULU, Sept. 1, 2022 – Hawaiian Electric customers on Hawai‘i, Maui, Lāna‘i and Moloka‘i will see lower rates in September that reflect the first significant drop in oil prices since spring. O‘ahu customers will see a smaller rate increase than expected with the shutdown of the AES coal-fired power plant.

Hawaiian Electric is forecasting the following impacts to a typical residential bill for electricity used in September, which will be included in bills most customers receive in October:

  • O‘ahu: Up 4% or about $9. This is an improvement over the earlier forecast that projected bills would increase 7% or about $15 after the coal plant ends operations, which is scheduled for today. Commercial customers will see kilowatt-hour rates up about 2 cents, lower than the 3 cents forecast.
  • Hawai‘i Island: Down 6% or about $16
  • Maui: Down 5% or about $11
  • Moloka‘i: Down 14% or about $34
  • Lāna‘i: Down 9% or about $22

The rates for O‘ahu are the result of lower oil prices and the addition of the Clearway Mililani I 39-megawatt solar project to the grid. Its contracted price of 9 cents per kilowatt-hour is less than a third the cost of oil used for power generation.

Even with the lower rates, typical bills on all islands are still higher than in March before oil prices began to surge. Hawaiian Electric continue to offer options to help customers manage their energy bills. Go to hawaiianelectric.com/paymentarrangement to review payment plan options. For information on available financial assistance, go to hawaiianelectric.com/COVID19.

Reducing energy use is also a practical way to further reduce electric bills. Links to resources are available at hawaiianelectric.com. Hawaii Energy is an expert resource that offers rebates and practical energy conservation tips at hawaiienergy.com.

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Endorsements

Aaron Chung

I’ve been a long-time supporter of Lorraine and the reason is simple: Lorraine is a good person. She was brought up in Hilo through humble circumstances and it shows in her decision-making and the way she treats people. She’s a kind-hearted, clean-hearted and caring individual who is genuinely respectful towards others. Her character fits the term “public servant.” We need more people like Lorraine in government.

Cassie Lamson Lee

As a teacher, I appreciate how Senator Lorraine Inouye has supported many bills to address teacher shortages and salary compression. She understands the importance of ensuring our children have a quality public education.

Marvin Min

I have known Senator Inouye for a long time and she is someone who works tirelessly and continues to listen to our community. Her passion is to represent the community, as well as the best interest of the state. She has the experience to get things done and has shown that through her leadership roles within the senate. Let’s continue to support her so she can help our community further!

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