Class Action Lawsuit Seeks To End Hawaiian Electric Industries Monopoly
An on-line petition created by Mililani resident Ed Wagner is garnering lots of attention. Online less than two weeks, the petition, as of June 3, 2013, has 2,935 signatures.
You may find the petition online at LINK. Here is the text:
To be delivered to John Carroll, Attorney
My electric bill is too high and impacts my ability to provide for my family ( expand / survive in my business ), and save for retirement.
I support all efforts, including Attorney John Carroll's class action lawsuit, to end the Hawaiian Electric Industries monopoly to bring about free and open competition in the generation of electricity to lower rates to mainland levels and improve our economy.
The utility must become a non-monopoly power transmission entity that focuses solely on upgrading its crumbling grid infrastructure so that the grid can accept more renewable energy to completely free Hawaii from its dependence on foreign oil in ten years.
Hawaii is the most energy insecure state in the country.
Retired Senator Fred Hemmings states:
"HEI is Hawaii's most egregious monopoly. It is antithetical to free enterprise to a have a monopoly with a guaranteed profit at the expense of consumers. Our Electricity is the nations highest priced hovering around 200% above the national average. HEI has made Hawaii the most dependent state on fossil fuels. HEI utility lines are a blight on the landscape. HEI executives are amongst the highest compensated in Hawaii. HEI invests excess profits in other business including over seas ventures. The solution is to break up the monopoly for the benefit of consumers."
Senator Malama Solomon reported that people in her district are burning candles at night and cooking with Kiawe wood because they can't afford to pay for electricity.
Governor Abercrombie has stated:
“The utility was built for a time and public purpose that are in the past"
“Hawaii’s boundless renewable energy potential is bottlenecked in our archaic utility structure”
“Their monopolistic control is often at odds with the public interest in the world beyond fossil fuels”
“Democratizing energy requires the creation of a free market in energy”
Hawaiian Electric CEO, Constance Lau, is the highest paid executive in the state ($5.8 million) while residents get pushed into poverty to support her exorbitant salary.
The company's more than 4.4% dividend is about twice the national average for a utility company.
The negative impact of the monopoly on Hawaii's economy is both immeasurable and incalculable, but easily estimated to be in the tens of billions of dollars or more in lost revenue for businesses, homeowners, and government over the past century.
For Hawaii's economy to grow and thrive, utility deregulation is required, with free and open competition in the generation of electricity by companies with expertise in new renewable technologies, leaving Hawaiian Electric Industries as a non-monopoly power transmission entity to focus solely on upgrading the crumbling grid infrastructure that to date, it has had little desire or incentive to fix.
The utility monopoly portrays itself in TV commercials as our angelic friend and savior when it is, in fact, a wolf in sheep's clothing, the fox guarding the hen house to protect its escalating profits, excessive dividend, and huge executive compensation at the expense of economic progress.
Petition signers may contact Mr. John Carroll about being plaintiffs for his class action lawsuit seeking to end this more than century's old utility monopoly.
John Carroll, ESQ.
810 Richards Street, Suite 810 Honolulu, HI 96813
Telephone: (808) 526-9111 Facsimile: (808) 545-3800