HONOLULU (KHON2) — The Hawaiian Electric Company said on Sunday, Aug. 7 that your electric bill may rise about 7% or $15 when it stops using coal.
HECO said customers may see the impact reflected in the October bill.
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HECO has been using a coal-fired power plant at Campbell Industrial Park since 1992 to make electricity.
The power purchase contract between Hawaiian Electric and the AES Corporation ends at midnight on Sept. 1, HECO said.
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This is a critical turning point in the long-term transition of Hawai’i’s energy landscape.
Unfortunately, the timing has converged with global events that are currently increasing the cost
of electricity. We know that paying more for an essential service like electricity will impact many households
and businesses particularly at a time when other costs are rising. We wanted to let customers
know the situation in advance so they can plan and we can help them with options. We’re also
seeing some encouraging signs that oil prices are declining and we’re hopeful this will help
lower rates in the coming months.
President and CEO of Hawaiian Electric