PUC Annual ReportâFiscal Year 2004-05 - Public Utilities Commission
PUC Annual ReportâFiscal Year 2004-05 - Public Utilities Commission
PUC Annual ReportâFiscal Year 2004-05 - Public Utilities Commission
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<strong>Public</strong> <strong>Utilities</strong> <strong>Commission</strong> <strong>Annual</strong> Report <strong>2004</strong>-<strong>05</strong>State of Hawaii Page 52Rate of Return14.00%13.00%12.00%11.00%10.00%9.00%8.00%7.00%6.00%5.00%4.00%3.00%2.00%1.00%0.00%-1.00%-2.00%-3.00%Figure 21Utility Rate of Return Five <strong>Year</strong> ComparisonJun '01 Jun '02 Jun '03 Jun '04 Jun '<strong>05</strong>HECO 8.02% 8.32% 7.68% 7.82% 5.92%HELCO 9.39% 8.87% 8.89% 7.12% 6.61%MECO 7.74% 7.82% 8.31% 8.55% 7.89%KE/KIUC (1) 9.01% 8.99% n/a (4) n/a (4) n/a (4)Hawaiian Telcom (2) 2.92% 2.29% 0.96% -1.80% -0.80%TGC (3) 5.70% 7.60% 6.40% 5.80% 7.30%Young Brothers 7.66% 10.96% 11.00% 12.70% 8.81%12 MTD Ended June 30(1) On September 17, 2002, the <strong>Commission</strong> approved the assignment of KE’s legislatively-granted franchiseto KIUC.(2) On March 16, 20<strong>05</strong>, in Docket No. 04-0140, D&O No. 21696, the <strong>Commission</strong> approved the mergertransaction that resulted in the sale of Verizon Hawaii, Inc. and certain affiliates to entities controlled byaffiliates of the TC Group L.L.C., dba The Carlyle Group.(3) Results are for the Honolulu Division.(4) Beginning November 2002, KIUC began reporting TIER (Times Interest Earned Ratio).
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