Kauai Island Utility Cooperative today filed a formal request for a 10.5 percent rate hike with state Public Utilities Commission.

The increase, which would be applied across all rate classes, would raise an additional $13 million over the cooperative’s projected 2010 revenue, the utility said in a news release.
Under KIUC’s request the average residential household using 500 kilowatt-hours a month would see its bill rise by $16 to $171 from $115, according to a public presentation the utility made June 3.
“We know that any rate increase is tough for our members, especially in the current economy,” said Randy Hee, KIUC president and chief executive officer. “Nevertheless, it is necessary so we can assure the cooperative's financial stability and lay the financial foundation for a clean energy future that is not so vulnerable to high oil prices.”