HECO / NextEra Merger: Defending Hawai‘i’s Solar Advances
The utility takeover would have been the biggest threat to Hawai‘i’s clean energy future. As rooftop solar opens the door to new clean energy markets and consumer choices, NextEra sought to take Hawaii back to the fossil-fueled monopoly of the past.
Case Overview
A coalition of clean energy groups petitioned the HawaiÊ»i Public Utilities Commission to complete its ongoing work to plan HawaiÊ»i’s energy future before considering the proposed acquisition of Hawaiian Electric Industries, Hawai’i’s main electric utility, by Florida-based NextEra Energy.
NextEra’s proposal to buy Hawaiian Electric for $4.3 billion was announced in early December 2014 and required various approvals, including by the Commission.
Two years later, after significant opposition from elected officials and the public, the Hawaiʻi Public Utilities Commission rejected the takeover of Hawaiian Electric utilities by NextEra Energy. The utility takeover would have been the biggest business deal in Hawai‘i’s history — and the biggest threat to Hawai‘i’s clean energy future.
This victory is one of only a handful of rejections in the decades-long history of utility mergers, demonstrating Hawai‘i’s commitment to a clean energy transformation.
The coalition includes Sierra Club, represented by Earthjustice, Blue Planet Foundation, Hawaiʻi PV Coalition, Hawaiʻi Solar Energy Association, and The Alliance for Solar Choice.
Case Updates
Case page created on January 20, 2015.