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Hawaiian Electric Co. warned customers today that electricity bills will climb higher over the next few months due to U.S. sanctions on Russian oil.
The utility is forecasting residential bills will rise about 10% for Oahu customers, and about 20% for those on Maui County and Hawaii island, in the next few months.
Hawaiian Electric Co. warned customers today that electricity bills will climb higher over the next few months due to U.S. sanctions on Russian oil.
The utility is forecasting residential bills will rise about 10% for Oahu customers, and about 20% for those on Maui County and Hawaii island, in the next few months.
Time to buy more stock in HE? They do pay good dividends and have for the past seventy years or so. They are getting a lot more input from solar, but that doesn't help with the electric load at night. We need some sort of large scale electrical storage, then all the islands could run on solar.
I actually got an email from Hawaiian Electric just now on the increases.....
I guess they didn't check I have solar.....
I’d like to share information about your electric bill and what you can expect to see in the coming months.
As the U.S. and other nations have stood with the people of Ukraine and imposed powerful economic sanctions on Russia, including the refusal to buy Russian oil, we’re now seeing higher prices at the gas pump and in your electric bill.
The increases we’re anticipating are more abrupt than we’ve seen before and, on top of inflation, I know they will impact the budgets of many households. Residential bills on Oʻahu may rise 10% and bills on Hawaiʻi Island and in Maui County may rise 20% over the next several months.
We hope this is the peak and that by summer we could see some relief. But there’s a lot of uncertainty. If the international situation remains in turmoil, the price could surge higher. Rates are set by the Public Utilities Commission and include fuel costs that fluctuate with world markets. Hawaiian Electric makes no profit on the fuel used to generate electricity.
By letting you know what’s coming, I hope this helps you plan your budget. I urge you to consider the many options available to help reduce your total energy bill, including the rebates and practical tips offered by Hawaiʻi Energy.
It’s because of Hawaiʻi’s vulnerability to oil prices that we’ve reduced the use of imported oil by 25% since 2008 and are working to bring nearly 20 fixed-price renewable projects online. In the coming years, we’ll be better insulated against the kind of oil price spikes caused by international events.
Just as we did through the pandemic, we’ll work with you if you’re having trouble paying your bill. Our goal is to keep everyone connected and by working together we know we can get through this.
I will say that the level of politics--which presented subjective as opposed to objective positions supporting certain ideologies--in that Hawaiian Electric note was a bit stunning.
It isn't in oil companies best interest to extract more oil - they love the current high prices - why extract more oil - see prices come down - and have the higher costs of getting that oil. Won't happen.
I don’t think that’s how the oil industry works. They are in the business of quantity and to extract and sell as much oil as possible. The less production of domestic oil is from LGB’s anti-fossil fuel position and House democrats pushing these American oil and gas companies to produce less oil and gas. Because LGB and Jen Psaki claim it is corporate greed, doesn’t make it truth. LGB campaigned on stopping the production of fossil fuels and converting to green energy. When Democrat fantasies meet reality, you get $7-10 a gallon of gas.
What are the fuel prices there in Hawaii right now?
Roughly $4.80 a gallon for regular unleaded in Honolulu.
The US is spoiled compared to countries around the world - gas is over $10 in Hong Kong - over $8 in most countries in Europe When I lived in Europe in the 90's, gas was already well over $5/gallon.
On Oahu - all those people who bought all those pickup trucks are probably not feeling so good nowadays. You just don't see SUV's and pickup trucks around the world like you see in the US.
On Oahu - all those people who bought all those pickup trucks are probably not feeling so good nowadays. You just don't see SUV's and pickup trucks around the world like you see in the US.
The irony is the ones that buy the biggest gas guzzlers actually drive the most miles on Oahu. My gf and I have been driving electric and charging/powering house with solar for well over a decade now. We've probably saved over $70k already in combined fuel and electricity savings. Haven't even calculated the savings on maintenance between the two cars but guessing this is in the 5 figure savings category as well. It amazes me how many homes still don't have solar here.
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As if!
