Kauai electric company seeks 10.5% rate hike
Advertiser Staff
Kauai Island Utility Cooperative today filed a formal request for a 10.5 percent rate hike with state Public Utilities Commission.
The increase, which would be applied across all rate classes, would raise an additional $13 million over the cooperative�s projected 2010 revenue, the utility said in a news release.
Under KIUC�s request the average residential household using 500 kilowatt-hours a month would see its bill rise by $16 to $171 from $115, according to a public presentation the utility made June 3.
�We know that any rate increase is tough for our members, especially in the current economy,� said Randy Hee, KIUC president and chief executive officer. �Nevertheless, it is necessary so we can assure the cooperative's financial stability and lay the financial foundation for a clean energy future that is not so vulnerable to high oil prices.�