The requested increase would help cover the operations and maintenance costs of safely and reliably integrating existing and future renewable energy resources into MECO's three isolated, island electrical grids. Also included are energy storage projects which will help integrate even higher levels of variable resources such as wind and solar, including:
- A battery energy storage system at MECO's Wailea Substation; and
- A energy storage system on a distribution circuit in Central Maui.
The increase would also help pay for more than $80 million in investments to be completed in 2011 and 2012 including:
- Upgrades and improvements to generation facilities on Maui, Lanai and Molokai that will increase efficiency, improve service reliability and help to reduce emissions;
- Replacement of aging underground electric lines and equipment to increase service reliability in Central, South and West Maui;
- Upgrades to underground electric lines and equipment that will add capacity to MECO's electrical system; and
- Installation of fiber optic equipment at the Maalaea Power Plant that will improve communication and data acquisition and provide greater reliability of service.
The PUC is expected to hold a public hearing on the proposed 2012 increase later this year and an evidentiary hearing next year. An interim increase may be granted within 10 to 11 months following MECO's application; however there is no guarantee of such interim increase. The timing and amount of any increase is at the discretion of the PUC.
MECO's last increase was a 3.3% interim increase which went into effect in August 2010.For media inquiries:Kau`i Awai-DicksonCommunications SupervisorMaui Electric Company(808) 872-3263 email@example.com For institutional investor inquiries: Shelee KimuraManager, Investor Relations & Strategic PlanningHawaiian Electric Industries, Inc.(808) 543-7384 firstname.lastname@example.org SOURCE Hawaiian Electric Industries, Inc.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV