A press release from Maui Electric Company explains a plan to refund $7.8 million to its customers:
Based on the state Public Utility Commission’s final decision for Maui Electric’s 2012 rate case, customers will be refunded $7.8 million on an annualized basis (plus interest). The refund amount per customers will vary depending on the cumulative amount of electricity used by customers between June 1, 2012, and July 31, 2013.
Eligible for the refund are customers on the islands of Maui, Lanai, and Molokai during the time the interim increase was in effect beginning June 1, 2012, and ending on July 31, 2013.
The timing of the refunds will depend on the PUC’s decisions on the proposed refund plan that Maui Electric filed on June 17, 2013. Maui Electric has begun issuing the refunds and anticipates completing the process by the end of this month.
For current Maui Electric customers, the refund will appear in the form of a credit on their electric bills. Former customers during the time the higher interim increase was in effect will also be eligible for the refund. Instructions will be publicized later for those customers. Current Maui Electric customers do not need to take any action to receive the credit.