Hawaii Business magazine

[Rob Tucker]

I think that the statement comes from the fact that despite HELCO having access to cheaper electricity they are allowed under the PUC to charge a rate based on the cost of oil. So there is a benefit to HELCO which is not passed on to we consumers. I think PGV gets something like 16 cents per kwh and they show a profit at that.

I could be wrong but that is my understanding.