comscore NextEra files with PUC, says it will save customers $60M | Honolulu Star-Advertiser
Business | Top News

NextEra files with PUC, says it will save customers $60M

  • Craig T. Kojima / Dec. 3
    Connie Lau
[ AD HAS BEEN REMOVED FROM THIS STORY ]

Hawaiian Electric Industries and NextEra Energy Inc. filed a joint application Thursday asking the state Public Utilities Commission to approve the sale of HEI to the Florida-based energy company.

In December, NextEra Energy announced its plan to buy HEI, parent company of Hawaiian Electric Co., Hawaii Electric Light Co., and Maui Electric, for $4.3 billion.

The acquisition would result in approximately $60 million in customer savings over four years. The utility will not seek to increase the general base rate for four years, said the companies.

HECO and its headquarters would remain in Honolulu. The utility will continue to be locally managed, with no involuntary layoffs for at least two years after the close of the sale. It would also continue its current level of corporate giving.

Click here to see our full coverage of the coronavirus outbreak. Submit your coronavirus news tip.

Be the first to know
Get web push notifications from Star-Advertiser when the next breaking story happens — it's FREE! You just need a supported web browser.
Subscribe for this feature
Comments have been disabled for this story...

Scroll Up