HECO customers to get $19 refund
Refunds will show up as a credit in customers’ bills
Hawaiian Electric Co.
, the state's largest utility, said yesterday that Oahu electric customers will get a refund higher than what was initially expected late last year.
The state Public Utilities Commission has approved a refund plan related to a 2005 rate case that will result in an estimated refund for Oahu's 293,000 customers of $16.8 million, or a one-time reimbursement of about $19 for a residential household using 600 kilowatt-hours a month. That's more than a $17 amount issued in a "proposed" final decision by the PUC in October due to an accounting revision, according to HECO spokesman Darren Pai.
The refunds will show up as a credit in customers' bills, starting with bills sent out yesterday. For most customers it will be prorated between their June and July electric bills. Timing will depend on individual billing cycles; no action is required by existing customers to receive the refund.
In September 2005, the PUC approved a 3.3 percent, or $41 million, interim rate increase reflected in electric bills since that time. A change in the method used in calculating the increase knocked the hike down to 2.7 percent, or $33 million. The $16.8 million refund includes interest accrued from September 2005, when the higher interim increase originally went into effect.
The 2005 rate increase was primarily to pay for capital projects to improve electric service reliability, including underground cable replacements.
Former customers who had HECO accounts on Sept. 28, 2005, or later and no longer have active accounts may apply for a potential refund by calling the customer service center at 548-7311 by July 19. Eligible customers will be issued refund checks.