Regulators approve Hawaiian Electric rate increase

Published: Jul. 5, 2012 at 8:36 AM HST
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HONOLULU (AP) - State regulators have given final approval for Hawaiian Electric Co.'s rate increase.

The Oahu utility had been granted approval to begin collecting the 3.4 percent increase starting in July 2011 on an interim basis.

The company said earlier this week the final decision on the rate comes with an adjustment that will give customers a small refund.

The estimated $800,000 refund including interest amounts to a typical residential customer using 600 kilowatt-hours per month to get back 85 cents.

Aside from the refund, the state Public Utilities Commission ruling will not affect current electricity rates because the decision finalizes interim rates already reflected on customers' bills.

Hawaii households pay about $200 a month for electricity, three times the national average.

Copyright 2012 The Associated Press. All rights reserved.