04-01-2015, 02:08 AM
Late yesterday afternoon HELCO asked the PUC for a rate increase to cover costs incurred since Iselle and to cover projected costs of what is expected to be a busy hurricane season. They are proposing to restructure the fee schedule to simplify bookkeeping and are requesting the new rate be set at $1 a kilowatt. All extraneous fees like the non-fuel power plant operation cost adjustment will be eliminated if they reach their target price of "a buck a watt".
Stockholders have been upset by the lack of predictable profits since the third quarter of 2014 and the rate increase is necessary to ensure a continuous rate of return for investors.