Latest news with #PublicUtilitiesCommission
Qatar Tribune
12-06-2025
- Business
- Qatar Tribune
Sri Lanka raises electricity price
Agencies Cash-strapped Sri Lanka on Wednesday announced a 15 percent increase in the electricity price to shore up revenues for the state-run utility, in line with conditions imposed by an IMF bailout. The Public Utilities Commission said it allowed the Ceylon Electricity Board (CEB) to charge the higher rates from Thursday, six months after a controversial reduction that pushed the utility into the red. The government had forced a 20 percent price cut on the CEB in January, despite fears that it would cause the government-owned company to lose money and undermine the national budget. Ensuring cost-recovery and doing away with subsidies is in line with the conditions set by the International Monetary Fund, which granted a four-year, $2.9 billion loan to help salvage Sri Lanka's economy. The country had declared bankruptcy after defaulting on its $46 billion foreign debt in April 2022, having run out of foreign exchange to finance even the most essential imports, such as food, fuel and medicines. Months of protests over shortages led to the toppling of then-president Gotabaya Rajapaksa in July 2022. His successor, Ranil Wickremesinghe, secured the IMF bailout and proceeded to cut subsidies and raise taxes. Wickremesinghe lost the September election, but his successor, Anura Kumara Dissanayake, is pushing ahead with the IMF-backed reforms. Inflation, which peaked at nearly 70 percent in September 2022, has dropped sharply, and the country has been experiencing deflation since September. The IMF says Sri Lanka is slowly emerging from its worst meltdown and that the economy has turned around, although risks remain.
The Sun
11-06-2025
- Business
- The Sun
Sri Lanka raises electricity price in line with IMF bailout
COLOMBO: Cash-strapped Sri Lanka on Wednesday announced a 15 percent increase in the electricity price to shore up revenues for the state-run utility, in line with conditions imposed by an IMF bailout. The Public Utilities Commission said it allowed the Ceylon Electricity Board (CEB) to charge the higher rates from Thursday, six months after a controversial reduction that pushed the utility into the red. The government had forced a 20 percent price cut on the CEB in January, despite fears that it would cause the government-owned company to lose money and undermine the national budget. Ensuring cost-recovery and doing away with subsidies is in line with the conditions set by the International Monetary Fund, which granted a four-year, $2.9 billion loan to help salvage Sri Lanka's economy. The country had declared bankruptcy after defaulting on its $46 billion foreign debt in April 2022, having run out of foreign exchange to finance even the most essential imports, such as food, fuel and medicines. Months of protests over shortages led to the toppling of then-president Gotabaya Rajapaksa in July 2022. His successor, Ranil Wickremesinghe, secured the IMF bailout and proceeded to cut subsidies and raise taxes. Wickremesinghe lost the September election, but his successor, Anura Kumara Dissanayake, is pushing ahead with the IMF-backed reforms. Inflation, which peaked at nearly 70 percent in September 2022, has dropped sharply, and the country has been experiencing deflation since September. The IMF says Sri Lanka is slowly emerging from its worst meltdown and that the economy has turned around, although risks remain.
Yahoo
11-06-2025
- Business
- Yahoo
Judge recommends approval of site permit for Gopher State Solar near Bird Island, Minnesota
Jun. 10---- An administrative law judge overseeing the permit application process for a proposed utility-scale solar farm in Renville County is recommending its approval. Judge Kristien R.E. Butler in findings filed June 2 recommended that the Public Utilities Commission approve a site permit for the Gopher State Solar Project. Butler found that the project meets environmental and other requirements, and that Gopher State Solar made commitments to address issues raised by and a neighboring landowner during hearings on the project. The Public Utilities Commission is expected to consider the permit application possibly as early as July, according to information provided at the public hearings. Gopher State Solar is proposing a 200-megawatt solar farm north of Bird Island in Kingman, Osceola and Bird Island townships. The company has secured a 1,645-acre area and will place solar panels on 977 of those acres. The land is currently in agricultural production. The company estimates it will cost $187.75 million to $242.5 million to develop, including construction and all of the associated engineering and permitting needs. It estimates the operation will generate $32 million in tax revenues over an expected 40-year life span. In the findings, Butler addresses the issues raised by the county and neighboring landowners. Renville County has objected to Gopher State Solar's plan to provide a bond to cover an estimated $1.4 million in decommissioning costs. The county stated that it believes the decommissioning costs could be as high as $21 million and that there is no way to know the value of the recycled materials to offset some of those costs. Gopher State Solar has agreed to pay for the costs of an independent engineering analysis of the potential decommissioning costs as part of its permit. Butler noted the company's offer to address the county's concerns and includes it as part of the proposed permit. Butler also cited the visual aesthetic concerns raised by the owners of a residential property located in close proximity to the project site. He recommended the permit include the company's commitment to work with the property owners to address screening needs by planting trees. Butler found that the noise of the transformers and inverters from the site should not adversely affect the residential site. The distance is sufficient that the expected sound level will be below the threshold of human hearing, according to the finding. The judge's finding also acknowledged the potential that the project could affect property values, but stated the impact cannot be known. If its permit application is approved by the PUC, Gopher State Solar expects that construction would start in the spring of 2027 and the site would be in commercial operation in late 2029. More about the project can be found on the Minnesota Department of Commerce website at under the tab that includes solar farms. Look under open projects to find a link to the permit application and supporting documents.
Yahoo
04-06-2025
- Business
- Yahoo
Hawaiian Electric seeks approval for wildfire safety work
Typical residential customers of the state's largest utility could see their monthly bill rise between $1 and $5.50 to cover costs of an expanded three-year wildfire safety plan. Hawaiian Electric disclosed the cost estimates in a plan update filed with the state Public Utilities Commission on Friday. The safety plan for work through 2027 is subject to PUC approval, and the utility anticipates that bills won't likely increase for plan work until 2026. Ratepayer cost estimates vary by island where the cost and scope of planned improvements are different and add up to $350 million for Maui County, Oahu and Hawaii island. Kauai has an electric utility owned by ratepayers. The biggest Hawaiian Electric investments in wildfire safety are slated for Maui, where a wind-driven inferno determined to have originated from a downed company power line killed 102 people and destroyed most of Lahaina on Aug. 8, 2023. Hawaiian Electric said it plans to spend $181 million on wildfire safety work throughout Maui County, but mainly on Maui where the state's wildfire risk is highest. This work, the company said, should cost a typical residential customer $5.41 more per month. Work on Maui is to initially include putting underground about two miles of overhead power lines in critical safety areas in Lahaina determined with the help of a community working group providing area-specific knowledge and input. Hawaiian Electric said this initial work in Lahaina will be a pilot project that informs planning for future undergrounding of power lines in the West Maui town and other areas. On Oahu, safety plan work is expected to cost $68 million and result in a typical residential customer's monthly bill rising by $1.05. Work on Hawaii island is expected to cost $101 million and have a $2.86 monthly bill impact. A typical residential customer uses 500 kilowatt-hours of electricity a month. Not all of the cost for wildfire safety work under the plan will be borne by ratepayers. Hawaiian Electric said some of the expense is being covered by existing programs, including a $95 million federal grant for grid resilience received in 2024. Hawaiian Electric in a news release noted that bill impacts from the planned work may be reduced if the company can use a financing strategy that the Legislature approved in a bill passed April 30. Senate Bill 897 authorizes the PUC to let the company issue long-term bonds that finance safety infrastructure work and are repaid through customer billing. This form of financing, known as securitization, is less costly for Hawaiian Electric than other forms of available debt. Gov. Josh Green has yet to act on SB 897. His office in written testimony raised some concerns about various drafts of the bill that were different than what lawmakers passed. 'The Companies will take advantage of that option if /when it becomes available, ' Hawaiian Electric said in the filing, referring to its subsidiaries on different islands. Hawaiian Electric said about two-thirds of wildfire safety work will be capital investments in upgraded physical infrastructure, with the other third to be spent on operations and maintenance that includes enhanced equipment inspections and removal or trimming of thousands of hazardous trees. Other specific work to be done under the plan include :—Insulating wire power lines in highest risk areas to prevent sparking if a line touches another line or falls to the ground.—Replacing and strengthening poles.—Installing more weather stations and hazard-detection cameras.—Expanding AI-assisted video camera stations to enable 100 % coverage of all high and medium wildfire risk areas.—Creating a wildfire watch office that includes a meteorologist to monitor media reports, internal and external weather information and field reports to provide more situational awareness for operations.—Using a wildfire risk model to inform real-time decision-making and to refine the company's Public Safety Power Shutoff program so that shutoffs, if necessary, can be more precise and shorter. 'The (plan ) is designed to provide public safety, wildfire risk mitigation, reliability and resilience benefits for the Companies' customers and the State as a whole, ' Hawaiian Electric said in the filing. The plan filed with regulators Friday updates a less-detailed 'blueprint ' filed with the PUC in January that had a $450 million estimated cost and scope of work that Hawaiian Electric then said could change with refinements. Hawaiian Electric created its first wildfire mitigation plan in 2019, which did not include a power safety shutoff program. The plan was updated in the months after the Maui wildfire disaster, and many upgrades and operational changes have been implemented since then, including the shutoff program begun in July. The wildfire that struck Lahaina caused an estimated $5.5 billion in property damage. A $4 billion settlement of fire victim litigation is to be mostly paid for by the utility, the state and landowner Kamehameha Schools. Hawaiian Electric's share of the settlement is $2 billion. It is to be paid over four years and not add to customer bills. The parent of the utility, Hawaiian Electric Industries Inc., raised capital for the first payment by selling new shares of stock. Additional payment funding is expected to be raised through issuing debt and equity in HEI. BY THE NUMBERS Hawaiian Electric 2025-2027 wildfire safety plan estimated costs :—Total : $350 million—Maui County : $181 million—Hawaii island : $101 million—Oahu : $68 million Monthly bill impacts ----Maui County : $5.41—Hawaii island : $2.86—Oahu : $1.05 —Residential customer using 500 kilowatt-hours of electricity
Yahoo
03-06-2025
- Business
- Yahoo
Hawaiian Electric unveils $350M wildfire safety plan that could raise customer bills
HONOLULU (KHON2) – Hawaiian Electric has released a more detailed version of its three-year wildfire safety strategy, aimed at reducing wildfire risks and strengthening grid resilience across the state, with a particular focus on Maui, which it identifies as the area of highest risk. Putting rocks on the beach, cutting trees to save Oʻahu highway The $350 million plan, filed with the Public Utilities Commission, proposes major investments in technology, infrastructure, and fire hazard mitigation, along with increased community collaboration. If approved, residential electric bills could rise as early as 2026: Oahu: $1 per month Hawaii Island: $3 per month Maui County: $5 per month More than half of the proposed budget, approximately $181 million, is earmarked for Maui County, including $137 million in work planned for 2025 alone. The goal is to reduce the risk of wildfires sparked by utility equipment through a multi-pronged approach: Grid Hardening & Vegetation Management: Upgrades like covered conductors, stronger poles, and expanded hazard tree removal in high-risk areas. Undergrounding Lines: A pilot project in Lahaina will relocate two miles of overhead lines underground, with guidance from a community working group. Technology Upgrades: More weather stations, AI-assisted hazard-detection cameras, and a wildfire-focused Watch Office staffed with a meteorologist. Operational Improvements: A wildfire risk model will inform real-time decisions and fine-tune Public Safety Power Shutoff events. Community Engagement: Continued support for local safety events, partnerships with organizations on firebreaks and vegetation clearing, and expert working group meetings. 'We understand that any type of bill impact is obviously not what we would wish for,' said Darren Pai, spokesperson for Hawaiian Electric. 'But it does take investment in the system. The objective is to make the system safer, to protect the public, and to fulfill our commitment to public safety.'Some relief may be possible. A bill passed by the state Legislature, SB 897, would allow the Public Utilities Commission to authorize 'securitization,' or the use of long-term bonds to fund safety improvements. These would appear as a line item on customer bills but could cost less than traditional financing. The measure is currently under review by Governor Josh Green. The Public Utilities Commission is reviewing the filing. Check out more news from around Hawaii If approved, customers can expect the first changes to begin in 2026. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
