HECO's First Annual Revenue Decoupling Mechanism Filing, March ...

ATTACHMENT 4.5PAGE 29 OF 36BEFORE THE-PUBLIC UTILITIES COMMISSIONOF THE STATE OF HAWAIIIn the Matter of the Application ofHAWAIIAN ELECTRIC COMPANY, INC.For Approval to Commit Funds inExcess of $2,500,000 (excludingCustomer contributions) for ItemY00118, Beckoning Point SubstationAnd 46 kV Circuit.Docket No. 2008-0321DECISION AND ORDERBy this Decision and Order, the commission approvesHAWAIIAN ELECTRIC COMPANY, INC.'S ("HECO") request to commitapproximately $3,285,391 (excluding customer contributions) forItem y00118. Beckoning Point Substation and 46 kilovolt ("kV")Circuit ("Proposed Project"), pursuant to Section 2.3.g.2 ofGeneral Order No. 7, Standards for Electric Utilitv Service inthe State of Hawaii ("General Order No. 7"). The commission alsodetermines that it is appropriate for HECO to construct the 46 kVsubtransmission line above the surface of the ground, as proposedin its application filed on December 23, 2008, under HawaiiRevised Statutes ("HRS") § 269-27.6(a).I.BackgroundHECO, a Hawaii corporation, is a public utility asdefined by HRS § 269-1.HECO was initially organized under the•; f-