By Sneh Duggal
6/27/2008
Molokai News : Business News
Young Brothers, Ltd. is proposing a 5.5 percent rate increase. Maria Watanabe, owner of Imports Gift Shop, said she thinks the increase is too much.
Young Brothers proposes 5.5 percent increase
The price of shipping cargo throughout the Hawaiian Islands could increase by 5.5 percent after Young Brothers, Ltd. filed an application with the Public Utilities Commission (PUC) for a proposed increase.
The commission has 45 days to respond to the request, said Lisa Y. Kikuta, chief researcher with the PUC.
If approved, the increase could go into affect Aug. 1 of this year, according to Young Brothers.
This comes about three weeks after the company’s fuel price adjustment increased from 2.78 percent to 4.22 percent as a result of high fuel costs.
Young Brothers can seek a maximum overall rate increase of 5.5 per cent through the zone of reasonableness practice that allows the company to adjust its rates within a reasonable zone set by the Commission, said Kikuta.
The company cited increased labor costs and...
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