Electric bills fall to lowest levels in more than five years

Release Date: 11/16/2015

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HONOLULU, Nov. 16, 2015 - Customers of Hawaiian Electric and Maui Electric this month are seeing the lowest monthly electric bills in more than five years, largely due to the continued drop in fuel prices. And on Hawaii Island, customers of Hawaii Electric Light are benefitting even further, with the lowest monthly bills in more than six years.

"Lower oil prices are helping our customers right now, but we know our state needs to stay committed to long-term solutions, which means developing a diverse portfolio of low-cost renewable energy resources. It's critical that we keep working toward our state's goal of a 100 percent renewable portfolio standard," said Darren Pai, Hawaiian Electric spokesman.

Island Typical residential bill* Effective rate per kWh Date when typical residential bill was last lower than this month 
Oahu $132.32 24.4 cents June 2010; $132.21
Hawaii $163.20 30.3 cents July 2009; $158.30
Maui $141.57 26.3 cents Sept 2010; $141.10
Lanai $138.86 32.2 cents April 2010; $135.74
Molokai $132.73 30.7 cents April 2010; $130.99

*based on 500 kwh/month for Oahu, Hawaii Island, and Maui; 400 kWh/month for Molokai and Lanai.

Currently, 22 percent of the electricity needs of the Hawaiian Electric Companies' customers are met using renewable resources and Hawaii is by far the national leader in the percentage of customers with rooftop solar. And the Hawaiian Electric Companies are continuing to increase renewable resources and develop new options for customers to manage their bills. Recent actions include:

  • Proposed time-of-use rates for residential customers, public schools and electric vehicle owners
  • Expansion of utility-owned electric vehicle fast chargers
  • Piloting intelligent energy storage systems
  • A proposed community-based renewable energy program that would benefit customers who cannot or chose not to take advantage of rooftop solar to receive the benefits of renewable energy
  • Plans to install 137 megawatts of solar power from grid-scale projects to be completed in 2016