Hawaii state government abandoned the chance to lower energy cost and increase the take home pay on Hawaii’s families by losing the opportunity for NextEra to buy Hawaiian Electric Company. NextEra would have brought in much needed capitol and greater depth of expertise to deal with Oahu overworked and under-powered energy grid.
But, most alarming was the lost chance to convert Oahu’s oil fired power plants to natural gas which could have saved over One Hundred and Thirty Two Million Dollars annually and increased Oahu’s energy resilience and security.
Artificially high electrical cost are placed directly on the backs of business and residence and could this be for ideological reasons not financial?
Hawaii Gas estimates Liquefied Natural Gas would lower the cost of a family’s electric bill on Oahu by 30%!
Such a savings would have sent a ripple through Hawaii’s economy giving a break to both residential and business customers alike.
It would have lowered the operating cost of local business giving them greater flexibility to hold down or lower cost.
Abundant energy supply at lower cost is a key factor in job growth and income.
In Hawaii’s two legged economy (military and tourism) lower energy cost could well have been a major factor in generating new industries and technological innovation for our state.
This sort of road block to common sense innovation has to stop to help Hawaii stay prosperous and competitive in the 21st Century.