Hawaiian Electric reports it’s reducing wildfire risk from its operations: After spending $120 million this year, projected risk of its equipment starting a fire will drop by 60%. HECO plans to spend $300 million over the next three years to get closer to a lowered risk of 80%; to get all the way there will cost an estimated $1 billion.

The decent news comes on the heels of another positive development for HECO: Last Friday, the utility removed a “going concern” (shortfall in necessary funding) warning it had posted, stating it had raised additional capital to allay worries and plans to pay the balance of $1.99 billion owed in the Maui wildfire settlement over four equal annual payments.