Press Release – PUBLIC UTILITIES COMMISSION TO HOST STATEWIDE PUBLIC HEARINGS ON HAWAIIAN ELECTRIC COMPANIES’ REBASING PROPOSAL

STATE OF HAWAIʻI

KA MOKU ʻĀINA O HAWAIʻI

JOSH GREEN, M.D.

GOVERNOR

KE KIAʻĀINA

DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS

KA ʻOIHANA PILI KĀLEPA

NADINE Y. ANDO

DIRECTOR

KA LUNA HOʻOKELE

PUBLIC UTILITIES COMMISSION

JON S. ITOMURA

CHAIR

PUBLIC UTILITIES COMMISSION TO HOST STATEWIDE PUBLIC HEARINGS ON HAWAIIAN ELECTRIC COMPANIES’ REBASING PROPOSAL

FOR IMMEDIATE RELEASE

September 11, 2026

HONOLULU – The Hawai‘i Public Utilities Commission will conduct public hearings across the state beginning Sept. 22 on Hawaiian Electric Companies’ rebasing proposal, which could affect customer rates on Oʻahu, Hawaiʻi Island, Maui, Molokaʻi and Lānaʻi. The Hawaiian Electric Companies include Hawaiian Electric Company, Inc. (HECO), Hawaiʻi Electric Light Company, Inc. (HELCO) and Maui Electric Company, Limited (MECO), collectively referred to as the “companies.”

The companies are seeking commission approval to increase their combined annual revenues by approximately $170 million, or 5.3% over total operating revenues at current effective rates. The proposed increase would be implemented in two phases:  approximately $125 million of the annual increase beginning Jan. 1, 2027, followed by the remaining approximately $45 million beginning Jan. 1, 2028.

Rebasing is a process used to update the revenue levels used to set customer rates. The Hawaiian Electric Companies’ currently operate under a Performance-Based Regulation (PBR) framework, which sets and adjusts utility revenues over a five-year period, rather than a three-year rate case cycle the companies previously used. As the PBR framework moves into its next multiyear period, rebasing provides an opportunity to update those underlying revenue levels. According to the companies, the proposed rebasing is primarily intended to update rates to reflect certain costs and revenues that are not fully incorporated into current rates, including an adjustment to reflect actual inflation rather than previously forecast inflation, updated depreciation rates and higher insurance costs.

After both phases are implemented, the companies estimate that a typical residential customer’s monthly bill would increase by approximately: 

 Residents of Hawai‘i Island, Maui, Lāna‘i, Moloka‘i and O‘ahu are invited to attend the public hearing for their island service territory and provide oral comments on the companies’ proposal. Written comments are also encouraged and should reference Docket No. 2026-0162. Written comments may be submitted online through the commission website, by email, or by mail. Submit Public Comments

Public Hearing Schedule

Certain public hearings will be recorded and made available afterward on the commission’s YouTube channel.

The Oʻahu public hearing on Oct. 2, 2026 will be conducted in a hybrid format, with options to attend in person or online. Customers from any island, including those who were unable to attend in person on the neighbor islands are invited to participate in the Oʻahu hearing online. The Oʻahu hearing will also be livestreamed on the commission’s YouTube channel.

Additional information is available on the commission website, including the full public hearing notices and meeting participation information. Public Utilities Commission – State of Hawaiʻi

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