KIUC rates plunge for December

Kaua‘i Island Utility Cooperative announced this week that its rates have significantly dropped for December.

Residential effective rates plunged to 27 cents per kilowatt-hour for the month of December, a news release states.

“As the cost of oil drops, our rates drop,” KIUC President and CEO Randy Hee said in a statement. “We are encouraged by the steady decline of our monthly residential effective rate, which began following our all-time high of 49 cents per kilowatt-hour in August.”

Decreases in KIUC’s monthly effective electrical rates reflect decreases in its monthly fuel costs, because the energy adjustment component captures the cost difference between the current fuel costs and the fuel costs that were used to calculate the base rates.

“The lower residential effective rate should be welcome news for our members who have seen their bills rise steadily in the past few years as the price of oil surged,” KIUC Board Chairman Dennis Esaki said.

For current rate information, visit www.kiuc.coop and click on Energy Information.