The story in the Staradvertiser about the $125,000,000 drop in price in HELCO's purchase of biofuel from Aina Koa Pono, LLC after it was rejected by the PUC last year (September 2011, read that story here) as being too expensive should give one pause. (Over the 20 year contract it ends up being about $625,000 per year.)
(I like putting in those zeros, makes the number seem waaay big.)
Query: why was HELCO willing to pay $625,000 per year more than it had to before the PUC said no? and then, why is Aina Koa Pono, LLC willing to accept $625,000 per year less than what it had originally agreed to?
Read the new Staradvertiser article here. For a more comprehensive article read the West Hawaii Today article here.
Can you say "sweetheart deal"?
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