The state Public Utilities Commission has declined a proposed rate hike for Hawaiian Electric Light Co. customers — for now.
In late 2018, HELCO proposed a 3.4% increase in rates, as well as an increase to its minimum deposit and a decrease to the interest rate it pays on deposits.
HELCO representatives previously explained that the requested changes would help fund grid modernization efforts, extensive vegetation management work and other repairs.
However, the PUC issued on Thursday an interim decision that will not result in any rate increases for the time being.
Despite the interim decision, the commission will continue to evaluate the case and could issue a final decision that approves the rate increase. If the commission approves the rate increase, it will not be applied retroactively. However, if the commission approves a rate decrease, the difference will be refunded to customers with interest.
Source: Hawaii Tribune Herald