+- Punaweb Forum (http://punaweb.org/forum)
+-- Forum: Punaweb Forums (http://punaweb.org/forum/forumdisplay.php?fid=3)
+--- Forum: Punatalk (http://punaweb.org/forum/forumdisplay.php?fid=10)
+--- Thread: End HELCO Monopoly (/showthread.php?tid=11973)
RE: End HELCO Monopoly - punaticbychoice - 06-02-2013
HE is the ticker symbol, HEI is the company initials.
RE: End HELCO Monopoly - peteadams - 06-03-2013
Socialist this, socialist that. Name-calling is hardly useful, along with less than useful blanket assertions about government screwing up anything it touches.
Our direct experience for nearly 20 years with the Cowlitz Public Utility District in southwest Washington State (http://www.cowlitzpud.org) gives the lie to your blanket assertions. We found them an active and progressive organization that not only provided excellent service and fast repairs, but had an excellent vision of both conservation and improving their infrastructure. Our rate paying went directly to covering actual costs of service and improvements. We were never were concerned about our money filling some CEO's oversized pockets or spending on dividends instead of service.
In addition, the PUD purchases power from the Bonneville Power Administration, another government entity well known for the reliability of its service. My father-in-law, who worked for the private Spokane water power company for most of his career also had a very jaundiced view of public power supply, even though he was a strong union man. Probably listened to a lot of company propaganda. However, when the they retired to Wenatchee, Washington, which also has a PUD (and power from Bonneville) supplying the county, and they experienced the low rates (compared to Spokane) and great service in setting up their retirement home, he changed his tune very quickly and became a great proponent of PUDs.
So if we get to set up a PUD-like structure to supply electricity on Hawai'i Island, I'm all for it.
RE: End HELCO Monopoly - pahoated - 06-03-2013
You are spinning your wheels trying to make a scapegoat out of HELCO, they are just a subsidiary of HEI. It's like trying to get Burger King to reduce the price of the whopper by going in to a Burger King and spitting on the kid working the counter. It is Punatic illogic.
The headline today is HEI is going to hold a series of meetings to get public input on their plan goals. One of the goals is to reduce rates.
http://hawaiitribune-herald.com/sections/news/local-news/hawaiian-electric-industries-looks-toward-future.html
Hawaiian Electric Industries looks toward future
"lowering customers’ bills, creating a clean energy future, modernizing the companies’ grids and fairness."
And in before the solar panel derail, the New York Times is reporting a growing solar panel defect rate that is growing in the industry. Despite the solar PV cult claiming they are made from Pele's tears, solar cells are very delicate, highly sophisticated electronic devices . They rely on a coating to protect them from the beating sun as well as all the extreme environments. Even the best panels are going to become less and less efficient. There has been a rush to install solar and that has led to a rush in production and cutting corners to cut costs. The industry is betting on a 25-year life to make solar panels profitable and a good panel's life is about 20 years.
http://www.nytimes.com/2013/05/29/business/energy-environment/solar-powers-dark-side.html?pagewanted=all&_r=0
Solar Industry Anxious Over Defective Panels
"The solar panels covering a vast warehouse roof in the sun-soaked Inland Empire region east of Los Angeles were only two years into their expected 25-year life span when they began to fail.
Coatings that protect the panels disintegrated while other defects caused two fires that took the system offline for two years, costing hundreds of thousands of dollars in lost revenues.
It was not an isolated incident. Worldwide, testing labs, developers, financiers and insurers are reporting similar problems and say the $77 billion solar industry is facing a quality crisis just as solar panels are on the verge of widespread adoption.
No one is sure how pervasive the problem is. There are no industrywide figures about defective solar panels. And when defects are discovered, confidentiality agreements often keep the manufacturer’s identity secret, making accountability in the industry all the more difficult.
But at stake are billions of dollars that have financed solar installations, from desert power plants to suburban rooftops, on the premise that solar panels will more than pay for themselves over a quarter century."
"This island Hawaii on this island Earth"
RE: End HELCO Monopoly - punaticbychoice - 06-03-2013
I think the problems that may occur with solar panels are a technical problem that will be remedied soon.
I am already focused on what the impact of solar panels and other technologies will have on the utility industry going forward.
It is a question that requires careful thought.
In an odd way, perhaps HEI's and locally, HELCO with their non-investment or under-investment in these improving technologies may be a backhanded winner if they can, like some other public utilities, find a way to integrate and utilize them for all our benefit.
But I'm not holding my breath given HEI's (HE: NYSE) lack of imagination in these matters.
RE: End HELCO Monopoly - ourdoc - 06-03-2013
quote:
Originally posted by DanielP
???? Reported earnings of $ 0.34/share and paid a whopping 4.4% dividend to shareholders of $ 0.31/share. Record setting profits?
Must be cheap to ship all that oil across the ocean and install all that new infrastructure to facilitate population growth and new alternative energy distribution.?????
And you figure the politicians would be more efficient?
Really.
Dan
Record setting profits? Yep... Just because they don't pay it out, doesn't mean its not there.
"HONOLULU (HawaiiNewsNow) -
Hawaiian Electric Industries Inc., the parent of the Hawaiian Electric Company, or HECO, recently received an "F" grade for its CEO's salary, the highest in the state.
Glass, Lewis & Co., a proxy advisory firm that's closely followed by Wall Street and institutional investors, said the $5.8 million paid to CEO Constance Lau last year was more than what similar sized utilities paid their bosses."
http://www.hawaiinewsnow.com/story/22084152/ceo-pay-soars-hei-receives-f-for-executive-pay
RE: End HELCO Monopoly - DanielP - 06-03-2013
Doc,
My mistake; those #'s were quarterly earnings, but earnings are earnings and their earnings are only about 5%/year. No record.
I cannot justify the CEO's salary or whatever the $24 million expense taken was, as the article was pathetically poor on details. To a $3+ Billion/yr. company, 5 or 24 million dollars is a drop in the bucket (1%).
Throwing #'s around out of context is misleading at best, and claiming "record profits" is a flat out lie.
Have you really studied their financials? I think not.
Dan
RE: End HELCO Monopoly - pahoated - 06-03-2013
quote:
Originally posted by peteadams
So if we get to set up a PUD-like structure to supply electricity on Hawai'i Island, I'm all for it.
There are only 4 states that have PUD's: Oregon, Washington, California and Nebraska. PUD's are government corporations created by a local government body (city, county or metropolitan), governed by a commission and the connected citizens become shareholders. A PUD for Hawaii island would mean somehow the county government buying out HECO from HEI, then forming an entire county department to replace HELCO. Before any of this could happen, there would have to be legislation to authorize the initial loans and taxes that would have to be raised for the formation of this special use district. It can be done!
"This island Hawaii on this island Earth"
RE: End HELCO Monopoly - jerry - 06-03-2013
Power producers are between a rock and a hard place--they have a 100 year old business model that is rapidly become obsolete--and they know it. An interesting article from Edison Electric Institute is at http://www.eei.org/ourissues/finance/Documents/disruptivechallenges.pdf
I suspect Hawaii electric utilities, rather than trying to lead the way forward will hang on to the old model as long as possible.
Jerry
RE: End HELCO Monopoly - Kapohocat - 06-03-2013
quote:
Originally posted by DanielP
Doc,
My mistake; those #'s were quarterly earnings, but earnings are earnings and their earnings are only about 5%/year. No record.
I cannot justify the CEO's salary or whatever the $24 million expense taken was, as the article was pathetically poor on details. To a $3+ Billion/yr. company, 5 or 24 million dollars is a drop in the bucket (1%).
Throwing #'s around out of context is misleading at best, and claiming "record profits" is a flat out lie.
Have you really studied their financials? I think not.
Dan
I have looked at their financials - they are one of the best "blue chip" stocks around. 2011 dividend was 61 cents in I think 3rd quarter....
unfortunately little old ladies cant afford to buy them and put them in their portfolio because they have a sizable electric to pay.
RE: End HELCO Monopoly - Guest - 06-03-2013
quote:
Originally posted by peteadams
Socialist this, socialist that. Name-calling is hardly useful, along with less than useful blanket assertions about government screwing up anything it touches.
Our direct experience for nearly 20 years with the Cowlitz Public Utility District in southwest Washington State (http://www.cowlitzpud.org) gives the lie to your blanket assertions. We found them an active and progressive organization that not only provided excellent service and fast repairs, but had an excellent vision of both conservation and improving their infrastructure. Our rate paying went directly to covering actual costs of service and improvements. We were never were concerned about our money filling some CEO's oversized pockets or spending on dividends instead of service.
In addition, the PUD purchases power from the Bonneville Power Administration, another government entity well known for the reliability of its service. My father-in-law, who worked for the private Spokane water power company for most of his career also had a very jaundiced view of public power supply, even though he was a strong union man. Probably listened to a lot of company propaganda. However, when the they retired to Wenatchee, Washington, which also has a PUD (and power from Bonneville) supplying the county, and they experienced the low rates (compared to Spokane) and great service in setting up their retirement home, he changed his tune very quickly and became a great proponent of PUDs.
So if we get to set up a PUD-like structure to supply electricity on Hawai'i Island, I'm all for it.
Do you deny that this is a socialist idea? I call 'em like I see 'em and if "name calling" offends you, perhaps the truth does as well.
As far as the government, show me ONE program, activity, department, etc... other than what is mandated by the Constitution, that is run efficiently and actually benefits the PEOPLE. Still think I'm lying or do you want to continue to bury your head in the sand?
It amazes me how people try to force square pegs into round holes when it comes to comparisons with Hawaii and the US Mainland. What works in Washington State, may not work in Hawaii simply because of this little thing called the Pacific Ocean. Hawaii has an entirely different set of challenges than any of the other States in the Union so I'd re-think your delusional dreams about applying mainland successes to this State.