Eric Gleason, president of NextEra Energy Hawaii LLC, said at a Waikiki business luncheon this week that getting the state off its dependence on oil would cost $30 billion over the next three decades. ...divided among Hawaiian Electric's 455,000 ratepayers on Oahu, Maui and Hawaii island, each customer would pay an additional $183 per month for 30 years.
Library filed under Impact on Economy from Hawaii
Hawaiian Electric Co. residential customers on Oahu will pay an average of 13 cents more a month over the next three years to cover the cost of preliminary studies HECO completed as part of its plan to generate wind energy on the neighbor islands and transmit it to Oahu via an undersea cable.
The requested increase would help cover the operations and maintenance costs of safely and reliably integrating existing and future renewable energy resources into MECO's three isolated, island electrical grids. Also included are energy storage projects.
The new wind farm on the Big Island's South Point is steadily producing power for Big Island residents. But it's not steadily shrinking local electricity bills...... But the wind power isn't lowering electricity bills even though it is locally generated, unlike the imported oil the state is so heavily reliant on. HELCO pays for the wind farm electricity by calculating the "avoided cost" or the cost the utility would have to pay if it were to build or generate power on its own. Lee said rates vary because they are tied to oil prices.