HELCO rate increase approved

KAILUA-KONA — The state Public Utilities Commission on Friday voted unanimously to give Hawaii Electric Light Co. a reduced rate increase that will allow the company to meet its revenue requirement of $290.7 million.

The commission in its 3-0 decision found that the “resulting test year figures, rates and adjustments adequately addresses HELCO’s need for rate relief while protecting ratepayers’ interests.”

The figure is the same approved for interim relief in April. It is much less than HELCO’s original request of $314.8 million in 2016. The PUC said the difference reflects rate reductions due to the recent federal tax cut.

The full ruling can be found in Docket No. 2015-0170, which is available online at http://puc.hawaii.gov.