Hawaiian Electric Company is piloting a program with 'time-of-use' rates that is aimed at saving both money and energy.
The one-year pilot is called "Shift and Save." Nearly 17,000 households and business customers across Maui, Hawaiʻi Island and Oʻahu have been randomly selected to participate for at least six months. Only those with advanced meters were eligible.
Those selected can expect increased rates during peak evening hours and decreased during the day and overnight. HECO hopes the 'time-of-use' rates will encourage customers to better manage their electricity use when solar energy is more abundant.
"If we're successful, we can help to reduce the use of fossil fuel even further, cut greenhouse gas emissions, make our grids more reliable and resilient, and over time drive down the costs for everyone," said Leo Asuncion, the Hawaiʻi Public Utilities Commission Chair.
Residential customers will have bill protection for the first six months of the pilot program. It will prevent monthly bills from rising more than $10 above what would have been charged under the current fixed rate.
"We know that this program might be easier for some than others to make changes in how they use their electricity... It gives them time to practice using the new rates,” Asuncion said.
HECO will have an online portal so customers can track their rates and electricity use to see where they could save money. The company will also provide online and in-person training.
According to Jim Kelly, HECO vice president of Government and Community Relations, if all goes well with the pilot, other customers could eventually opt into the program.
The program begins Oct. 1, 2023. Find more information here.
