Hawaiian Electric’s Monopoly Faces Historic Challenge: Will Competition Bring Real Savings?

Hawaiian Electric Co. (HECO) has held a monopoly on Hawaiʻi’s electricity market for more than 100 years, controlling how power is produced, distributed, and priced. But a new state law signed by Governor Josh Green aims to break this century-long grip, potentially transforming the energy landscape and offering relief to overcharged consumers. Beginning in 2027, HECO will be required to allow independent electricity producers to use its grid to directly sell power to customers for a fee. Under the current arrangement, these producers can only sell wholesale to HECO at low rates—sometimes as low as 8 cents per kilowatt-hour—while HECO...