Who Pays the Vig on DOE Loan?

posted in: September 2017 | 0

When Gov. David Ige signed House Bill 957 into law, the Hawai‘i Green Infrastructure Authority was mandated to give an interest-free $46.4 million loan to the state Department of Education. The money is to pay for energy-efficiency improvements to public schools in the Hawaiian Electric service area (the counties of Honolulu, Maui, and Hawai‘i).

The fact that the loan is to be interest- free means that it will be ratepayers – not taxpayers – who are on the hook for the interest on the bonds floated when the Green Energy Market Securitization fund was established.

At one . . .

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