Hilo gas prices continue to fall

[Bob Orts]

quote:

---

Originally posted by macuu222

I wonder what Helco is waiting for? Oil has dropped by more than half...and my electric bill continues to go up!

---

The fuel cost base rate was set April 5, 2007 to become effective June 13, 2008. Fuel cost rose after April 5 2007. HELCO's ability to raise rates to recoup the higher cost is capped. They can raise the rates (after approval) because of the added fuel cost but it's not a direct pass along to you at current cost. So if fuel rose 100% they may be limited to a much smaller maximum increase. In other words, they must pay out what the market charges for fuel, but they can only collect that increase at a smaller rate over a longer period of time.