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Reduce electric bills
A closer look at your electric bill
By 2030, the Hawaiian Electric Companies will reduce your electric bill. But how will we do this?
Fuel is the most expensive part of your electric bill. More than 50% of your bill pays for fuel such as imported oil and fuel related purchased power costs.
So how will your bill go down?
As clean local energy replaces imported oil, electric bills will stabilize at an amount lower than what you're paying today.
Oil is a diminishing resource and its price will increase over time. But most grid-scale renewable energy is purchased by the Hawaiian Electric Companies at fixed costs over a 20-year period. This fixed cost is lower than the cost of energy generated from imported oil. This is one way how your bill will be reduced.
We may also replace imported oil with natural gas, which is a cleaner, less expensive fuel. As a transition fuel in power plants, natural gas will help lower bills as we continue to move from oil to renewable energy.
You can also save money by continuing to reduce your energy use through energy efficiency.