Dec. 3, 2014
Florida-based NextEra Energy Inc. and Hawaiian Electric Industries Inc. announce that NextEra plans to purchase HEI’s electrical utilities for a total of $4.3 billion and spin off HEI’s subsidiary American Savings Bank.
Jan. 29, 2015
NextEra and HEI file an application with the state Public Utilities Commission.
NextEra says the acquisition would result in approximately $60 million in customer savings over four years. NextEra promises not to seek a rate increase for four years and not to lay off workers for two years after the sale closes. HECO and its headquarters would remain in Honolulu. NextEra would also continue its current level of corporate giving.
March 2, 2015
The state PUC allows 28 groups, from state agencies and environmental groups to solar companies, to be official intervenors in the sale’s review.
July 20, 2015
Gov. David Ige announces he is opposed to the sale.
Aug. 10, 2015
The state Consumer Advocate says he opposed to the sale.
Aug. 20, 2015
Jennifer Sabas, longtime aide to the late U.S. Sen. Daniel K. Inouye, is hired by NextEra as a consultant.
Sept. 4, 2015
PUC begins public hearing sessions on Maui, Molokai, Lanai, Kauai and the Big Island.
Oct. 27, 2015
PUC holds public listening session on Oahu.
Nov. 30, 2015
PUC begins trial-like hearings for NextEra’s purchase of HEI.
Dec. 15, 2015
An email from HEI CEO Connie Lau says NextEra views its purchase of HEI as a “snack” on its way to buying other regulated electric utilities.
March 1, 2016
PUC ends trial-like hearings.
June 3, 2016
The contract between HEI and NextEra expires.
June 29, 2016
Gov. David Ige appoints Tom Gorak, the PUC’s chief counsel, to take the place of outgoing PUC Commissioner Michael Champley. Ige says he appointed Gorak because his views align with the governor’s.
