The Hawaii Public Utilities Commission approved an approximately $3.36 monthly rate decrease for Hawaiian Electric Co. Inc. customers in Oahu due to the federal tax reform.
The approval will result to a monthly rate drop of 76 cents for typical Oahu residential customers, after taking into account the PUC-approved interim rate hike of $2.60, or 2.3%, in February, according to a March 9 news release.
The PUC has not yet determined the effective date of the adjustment, but ordered Hawaiian Electric to file its updated tariffs by March 16 for final regulatory review. Meanwhile, the amounts of tax impacts for Maui Electric Co. Ltd. and Hawaii Electric Light Co. Inc. customers are still under review and will require regulatory approval.
