Ka Hoku o Hawaii, Volume XXXIV, Number 15, 9 August 1939 — Rate Reductions Save Much Money [ARTICLE]

Rate Reductions Save Much Money

Rate rectuctions maie ettective the fiscal year ended June 30 by five puWie utilities in Hawaii saved consumers of those corporatious approximately SS2.TS9 ia tliat period. it \vas disclosod in thy auuual report of Ohaii mau V. I?: Lib bey of the Public Utililies Com mission wliieh \\as rek'aseil tliis week by Acting Oovernor Cliarles •M. HUe. Most importaut of tlu\«e savings \vas that of ?7-i,SS9 to consunier.of the Mutual Tol<?plione Co throughout tlio Territoiy due to f reduction In certaiu features of it: rate schednie. Other saviugs wert estimatcd at ?3,000 tv those of tli< LaH&ina iee Co., Maui; $4,600 tc those of tlie Kauai T:lectric Co.; $100 to those of the Ililo Gas Co.; aud ?100 to electric customers oi the Kohala Ditch Co., Hawaii. The approximate •'value M of al pubhc utiiit> corpoiatious iu tht Teirnory as of Dectmber 31, lt»oS was listed at ?41,254,n0.4!i1. Iu tlu calendar year 1938 uet ineouie ol all such corporatious -\vas giveu at $2,192,587.50, or a cousolidated net ineome of 5.31 per cent of the "value" of sueh corporations. "Consumers'iiaymeu(s to electric, gas, and telephone u(ilities for tlie calendar year 193S sho\v au iucrease of 10.3 per cent over' 1?;>T on *rate base' figui-es that ini'erasi'd by 12.7 per oent." the repor« t«tated. "Aver ag-«* aunual (loniesiic coi!sumptioii oi electricity in Honolulu iucreased to 1050 kwh over 960 kwh for .1937." Four of the utilities obtained $1,084,410 in new capital during tlie year, as follows—Hawaiiau Eleetric Cq., $1,000,000 bonds; Kona Light and Pdvrer Co., |14,410 eommon. stock; Maui Eleenie Co„ $50,000 eommon stock; H«i"lulu Gas Co., $20,000 eomiiion stock. Three utilities x*edeemed 01 their outsiauding bonds duriuis the year, follows—Hilo E!ectric Light Co., $50,000; Hilo Gas Co., ?5, OuO; Honolulu Gas Ci>,, ?1,000. "The United States Mariti»u Commission, upon its owu iiioUon, couducted an iuvestigatiou into llie rates of the Inter Isla,nd Steam Xa vigaiion Company, l.iuiited, holdiii£ heai'inp.-' ir. ihi- islands iu Juno aml iu \Vashingtou in October, Uie report stated. "The Exaniin ei's report recommends a raio basc of not mot«' than $6,535,000 :\nd •< ra»H o?" retnni of not more than " t per ceot and a pre?on* [ reiura of but 4.58 per cent. ! "Wliile the Commisision, over th* j past few years, lias been operstJii« on an annual ineome of some ?20, | 000 in the furm of fees, it will now have some $30.000 per ver.r i>artl> or. aeeouin of itKjea.<ed utility ea pītal aud i-eveuue, but cliicflj bo causo ot paymont of feos by tln Imer-ls)»nd Steam Kavi&«tW>n Com i pany, Linūted o» aeoouiu of tlu i.tu»:..K u: liu- 2>U|'IVUK* oout i, U'-\ V".S 306), thai fees are due aiui by coßtpAny i iie l tmue« ComoiiS£ioii fund has an available lialauoe o. some f 103,000 chiefly on acco\«it o* psynie(it of !»aok fees by U»ls eon. pany. "ī' nnHi ipat<><l th;U thest wi!l be ample to enalile the Oom to oomplHe i v staWi*t«»ev>i of rate basi> det» t'nb!nMtt>Ui& fo< foi«t*antēs not yol evaloated A »taff īot a In votvitsa an e«tAWUhmcni a i*tc i». !»..wa , !iin Pln'i, f\im One of Un« unuaual fe«turv« clos«4 bi the i> l por? tbe fac"> ti»*t utUttt«s cl«L»#o<i a* "Motor Vv hieie Oomuon C*rrim" <>u io cuher thf U<»svvisn#' V Drfve. otber |tto«i > «blcb *(« tUrtU|>UU6 to evten*ion of lfeesr e< iiific*t«*f o» aud COn^tQiclKx I'uWie t C<t»«vnstMPion tv lb«-ir c<H|tttlU)itKV l'' «nukihh! ia t!*«» «N*Vod*r >e«) t leemue" of m 4 ln»r tvut of thfft «e oi I\<cciji W Sl, ibco4£« u|niv«iul>, «.iin.JUf.lt »xi t' | W «Hy Thf* ' «144*tn<si t») <.\>tuUtih «««« tv i\i<iiui th*t eoaUouHl 4t ini-euuoe, M*» , U&* iUi-4) i*l4*v' l>> %»ttb % ur»»#, ;

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