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.