PUC Annual Report–Fiscal Year 2004-05 - Public Utilities Commission

Public Utilities Commission Annual Report 2004-05State of Hawaii Page 60Figure 33Capital Expenditures - Forecasted160,000,000140,000,000ANNUAL EXPENDITURES ($)120,000,000100,000,00080,000,00060,000,00040,000,00020,000,00002005 2006 2007 2008 2009HECO 124,000,000 113,000,000 101,000,000 140,000,000 96,000,000HELCO 44,000,000 45,000,000 38,000,000 44,000,000 46,000,000MECO 42,000,000 48,000,000 24,000,000 20,000,000 28,000,000KIUC 17,669,000 33,857,700 20,893,000 11,000,500 9,369,000GASCO 5,951,000 6,964,000 6,209,000 5,871,000 5,687,000YearC. RATES OF MAJOR UTILITY COMPANIES.Generally, base rates for most regulated utilities have not changed over the past severalyears. However, variable components of rates, such as energy rate adjustment factors, havechanged the overall amounts billed to utility customers.1. ELECTRICITY RATES.In Figures 34 to 39, the electricity rates consist of the base energy rate plus the energyrate adjustment clause (“ERAC”) and other adjustments. 18 The total of the base energy rate andthe ERAC is referred to herein as the “Effective Energy Rate.”18 ERAC (aka fuel adjustment clause) means a provision of a rate schedule approved bythe Commission, which provides for increases or decreases, or both, without prior hearing, inrates reflecting changes in costs incurred by an electric or gas utility for fuel or purchased energydue to changes in the unit cost of fuel and purchased energy. See Chapter 6-60, HAR.