Public Utilities Commission Chairman Randy Iwase said Tuesday he hopes his agency will issue a decision “soon” on the $4.3 billion sale of Hawaiian Electric Industries to NextEra Energy Inc.
“I am hopeful we can issue the decision soon, and that is still my goal,” Iwase said in a telephone interview. “We’re trying. The commission is trying. … I’ve been wrong on my hopeful predictions in the past. I can’t make any more.”
Iwase said at the beginning of June he was hopeful to have a decision on the sale by the end of the month. Near the end of June, Iwase said he was hopeful to have a decision in the first week of July.
Issuing a ruling would end a nearly 18-month review of Florida-based NextEra’s intent to purchase HEI, which supplies power to more than 90 percent of the state. The purchase cannot move forward without the PUC’s approval.
Last week Gov. David Ige appointed Tom Gorak, the PUC’s chief counsel, to take the place of outgoing PUC Commissioner Michael Champley. Ige, who has been an outspoken opponent of the NextEra purchase, said he chose Gorak because he was looking for someone whose views aligned more closely with his.
Gorak was sworn in Friday and has issued two orders relating to water carriers since, Iwase said.
“The job of the PUC is not to stop everything for a merger case,” he said.
State senators have questioned the legality of Ige’s appointment. Champley’s term expired Thursday, but often state commissioners and board members are “held over” until a new appointee can be confirmed by the Senate. Champley said he was willing to remain on the job.
Senators might take legal action against the governor, which could further prolong a final outcome in the proposed sale.
Iwase said he wouldn’t comment on legal issues regarding Gorak’s appointment.
“I’m not in the loop on the legal issues or questions that have been raised in respect to the appointment,” he said.
State Attorney General Doug Chin wrote Ige a letter stating the governor had the authority to appoint Gorak.
“We will follow the attorney general’s opinion,” Iwase said.
HEI stock, which was down as much as 8 percent the day following Ige’s appointment of Gorak, closed up 2.89 percent Tuesday at $33.11.
