Page 21 - MidWeek - August 10, 2022

August 10, 2022 MIDWEEK 21
An important message about how the closure of Hawai‘i’s last coal-fired power plant will affect you
On Sept. 1, Hawai‘i will take important action on climate change with the closure of the coal plant operated by AES Corporation at Campbell Industrial Park.
Under a 30-year contract to Hawaiian Electric, this plant and its employees have provided service to the people and businesses of O‘ahu since 1992.
This facility is also one of the state’s largest emitters of greenhouse gases – 1.5 million metric tons annually. It’s one of the reasons Hawai‘i legislators and the governor in 2020 outlawed the continued use of coal for power generation.
You count on us 24/7, so it’s important for you to know that even without this plant, Hawaiian Electric will continue to have sufficient generation capacity to meet the needs of O‘ahu’s 310,000 customers.
Unfortunately, the timing for this transition couldn’t be worse.
Before oil prices soared earlier this year, we estimated the shutdown of the coal plant would increase customers’ electric bills about $2 a month because we would be using more oil to generate electricity.
Now, with oil prices at historically high levels, bills on O‘ahu will rise about 7 percent or $15 for typical customers using 500 kilowatt-hours per month. For most, that increase will start showing up in bills received in October.
I know this is a painful surge in the cost of an essential service and that it comes at a time when prices are rising for just about everything. We’re seeing some encouraging signs that oil prices are declining and we’re hopeful this will help lower rates in the coming months.
By working together and accelerating our transition to clean energy, we’ll break the cycles driven by imported fossil fuels. If you’re having trouble paying your bill, please contact us at hawaiianelectric.com and we’ll work with you to keep you connected.
Mahalo for the opportunity to serve you.
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President and Chief Executive Officer Hawaiian Electric
Adding 9 major renewable energy projects on O‘ahu
You’ll soon see news about a large solar and battery storage project coming online in Mililani. By itself, this project will only push rates down a small amount, but eight additional clean energy projects are coming
in 2023 and 2024, most generating electricity at one-third the cost of oil. Over time, these projects will insulate Hawai‘i from the oil price spikes driven by international events.
hawaiianelectric.com /coalplant