Posted on: Wednesday, January 5, 2005

BUSINESS BRIEFS
PUC studying gas-price cap

Advertiser Staff and News Services

The state Public Utilities Commission yesterday said it is studying how to implement a gasoline price cap law scheduled to take effect Sept. 1. The analysis will include a review of the formula that caps wholesale gasoline prices and will include input from Hawai'i's two refineries — ChevronTexaco Corp. and Tesoro Petroleum Corp.

The commission also hired Fairfax, Va.-based ICF Consulting to help with the investigation at a cost of about $120,000. Overall the PUC was given $500,000 by lawmakers to implement the cap. There was no time frame set for completing the investigation.

High court lets Hokulia ruling stand

The state Supreme Court has denied a request by a group of property owners to review a lower court's decision halting construction at a 1,540-acre luxury subdivision in South Kona.

The high court on Monday rejected the request, made by 93 people who bought lots at the Hokulia development, to review Big Island Judge Ronald Ibarra's 2003 ruling.

Construction on the project above Kealakekua Bay began in early 1998 but was halted in September 2003 when Ibarra ruled that the project violated state laws on agricultural land use.

Attempts to mediate a settlement failed, and the developer, 1250 Oceanside Partners, has filed an appeal.

— Associated Press