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Why Are Our Electric Bills Still So High?

Honolulu Civil Beat

Oil prices dropped by half, but Hawaii electricity rates decreased just 18 percent. How is that possible?

By Sophie Cocke

March 2, 2015

The price of oil has plummeted by more than 50 percent since July, falling to its lowest point in six years and buoying the hopes of cash-strapped residents that they will see major reductions in their electricity bills.

But as statements covering February power usage begin rolling out, those residents may be disappointed by the relatively moderate dip in rates. Hawaiian Electric customers on Oahu, the Big Island and Maui will still be paying two to three times the national average for electricity.

We already use 38 percent less electricity than the average American household, but the latest cost figures suggest that it’s still not time to liberally crank the air conditioning or stop cooking with kiawe.

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