Updated at 4:21 p.m., Friday, February 23, 2007
Maui Electric Co. seeks 5.3% rate hike
Advertiser Staff
KAHULUI, Maui — Maui Electric Co. is seeking a 5.3 percent rate increase that would boost the electricity bill for a typical Maui household by almost $8 per month.The utility said that under a new tiered rate structure submitted today to the Public Utilities Commission, customers who conserve electricity during peak evening usage times would see smaller increases ranging from 2 percent to 4.4 percent.
If the new rate structure is approved by the PUC, a typical Maui residential household consuming 600 kilowatthours a month would see an increase of $7.78 per month, for a total bill of $179.47.
On Moloka'i, the increase for a typical household using 500 kwh would be $8.69 per month, for a total bill of $182.26. On Lana'i, 500 kwh could cost $175.02 per month, an increase of $7.63.
MECO last filed for a rate increase in 1998, winning PUC approval for an 8.2 percent hike.
The PUC is expected to hold a public hearing on the power company's latest proposal sometime in the spring.
If the latest rate increase is approved, Maui Electric's revenue would rise $18.9 million.
The company said it needed the extra funds because of additional generating capacity it had added.
