Hawaiian Electric withdraws request for approval of LNG contract and generation upgrades

Release Date: 7/19/2016

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HONOLULU, July 19, 2016 - Following the termination of the proposed merger with NextEra Energy, the Hawaiian Electric Companies today withdrew their applications for approval of a liquefied natural gas contract with Fortis Hawaii Energy Inc, plans to upgrade Kahe Power Plant to use natural gas, and a waiver from competitive bidding to upgrade the plant.

Because of the resources these specific combined projects required, one condition of the LNG contract was approval of the proposed merger with NextEra Energy. On Monday, NextEra Energy announced it would no longer pursue the merger after the application was dismissed without prejudice by the Hawaii Public Utilities Commission.

"We're committed to transitioning to 100 percent renewable energy in the most cost-effective way possible while ensuring reliable service. We'll continue to evaluate all options to modernize generation using a cleaner fuel to bring price stability and support adding renewable energy for our customers," said Ron Cox, Hawaiian Electric vice president of power supply.

Hawaiian Electric remains focused on the path it has continued to pursue throughout the merger process: To stabilize and reduce energy costs while becoming more innovative, and taking advantage of new technologies to deliver greater customer value and choice.