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Wednesday, April 2, 2014
Stung by High Electric Rates, Parker Ranch launches Paniolo Power Company
By News Release @ 6:01 PM :: 6975 Views :: Hawaii County , Energy, Cost of Living

Parker Ranch launches Paniolo Power Company

News Release from Parker Ranch Wednesday, April 2, 2014

Parker Ranch has launched a new subsidiary, Paniolo Power Company LLC, Neil “Dutch” Kuyper, CEO of Parker Ranch, Inc., announced today.

“The preliminary results from our energy team, led by Siemens, tell us there is the real opportunity to attract capital to invest in our community grid concept,” Kuyper said.

Parker Ranch hired a consortium led by Siemens to evaluate the merits of a community-based energy solution for Greater Waimea and Kohala as well as prepare a utility-grade integrated resource plan.

Hawaii Island electric rates from Hawaii Electric Light Co. (HELCO) are consistently more than 37 cents a kilowatt-hour, and often well over 40 cents, despite nearly half of the island’s electricity being generated from renewable sources. The national average for electricity rates last year was 12.5 cents per kilowatt-hour.

“We think that the residents and businesses of the Big Island could be better served by a series of community solutions with regional level distributed generation focusing on our plentiful renewable resources,” said Kuyper.

“Because our island is so large, it is in a sense a few islands within the island. Waimea is 55 miles from Kona and 60 miles from Hilo. A combination of several regional solutions for the various parts of the island seems to make logical sense.”

Kuyper said that Paniolo Power has begun discussions with potential operating and capital partners to manage and fund the effort. “We are pleased and excited about the inquiries that we have received in recent months to co-invest in our concept. My background lends itself to raise capital for these kinds of investments,” said Kuyper.

Parker Ranch will present the preliminary findings on its Integrated Resource Plan study to the Waimea Community Association Thursday, April 3, 5:15 p.m. in the Waimea School Cafeteria.

---30---

Electricity: Parker Ranch Pays $680K, Waimea Hospital $1.2M

BCH March 13, 2014: Normally, you wouldn’t think the cost of electricity would clobber ranchers, but in Hawaii, high power rates are the central competitiveness issue.  In fact, the owners of the mammoth Parker Ranch on Hawaii’s big island have calculated their “per cow” electricity costs.

Much of the famed ranch’s 130,000 acres is rich grazing land on a high plateau between Hawaii’s twin 13,000 ft. volcanos.  Parker Ranch is one of the nation’s largest beef producers, with much of its product sent to the mainland.  The ranch has an extensive water system with large reservoirs, water tanks and troughs, but much of the water must be pumped.

That’s where the electricity costs come in.  Parker’s electricity cost per calf is $40 per year and rising, compared to $12 for its competitors.  Parker runs about 17,000 head of cattle on its ranch, meaning their annual electric bill is about $680,000.

In Waimea, the small town where the Parker Ranch is headquartered, the electric bill for the town’s 33-bed community hospital was $1.2 million last year, compared to an average $350,000 on the mainland.

The Hawaiian Electric Company (HEC) predicts that Hawaiians, who currently pay $160 per month, will pay $300 a month by 2020 and $1,200 per month by 2040....

read ... $40 per cow

BIVN: Parker Ranch: We Beat HELCO's Rates

WHT: Parker Ranch Energy Project: Wind and Pumped Storage.

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