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Hawaii PUC holds public hearing on Young Brothers' request for up to 27% general rate increase, 25% temporary relief
Summary
The Hawaii Public Utilities Commission heard public testimony on Young Brothers LLC's request for a $26.37 million (27.06%) general rate increase, a single-step temporary increase of up to 25%, and an annual Water Carrier Inflationary Cost Index tied to the GDP Price Index and capped at 5%.
The Hawaii Public Utilities Commission held a public hearing on docket number 2020-4255 to collect testimony on Young Brothers LLC’s application for a general rate increase, a proposed Water Carrier Inflationary Cost Index (WICCI), and a request for temporary rate relief.
Young Brothers asked the commission for a revenue increase of $26,368,923 — a 27.06% increase over revenues at present rates for the 2025 test year — based on a requested rate of return on rate base of 10.92%. The company also filed a motion for temporary relief seeking a single-step increase of up to 25%, and it proposed an annual automatic adjustment mechanism (WICCI) tied to the U.S. Gross Domestic Product Price Index (nonfood, nonenergy) capped at 5% per year.
Chris Nakagawa, Vice President of External and Legal Affairs for Young Brothers, told the commission that the company is “facing financial distress” and that its current rates, set on an emergency basis in August 2020, have not kept pace with rising operating costs. “We’re losing money on our current rates and cannot continue to offer you the frequent,…
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