Now that final briefs are filed and hearings concluded, we would like to extend our deep gratitude to all the regulators, public officials, parties and community members for the comprehensive investigation in deciding the future of Hawaiian Electric Industries and whether it will be acquired by NextEra Energy.
Blue Planet Foundation cares deeply about Hawaii’s energy future, and we appreciate the opportunity to participate in this important conversation.
This proposed merger will impact our state for generations to come. So we are pleased that the state Public Utilities Commission and entire community have given this issue the time and process needed to reach an informed decision.
Before any merger can be approved, it must be in the best interest of Hawaii. It must ensure tangible benefits and accelerate the transition to more affordable and secure 100 percent renewable energy.
These benchmarks — enforced as unconditional commitments accepted by the companies — must adhere to 10 key principles that would:
>> Align utility customer and shareholder interests that result in tangible net benefits to all customers.
>> Require a new utility business model that is based on performance.
>> Enhance customer control over their energy choices.
>> Improve power system reliability and resiliency.
>> Promote greater transparency of utility operations and information.
>> Accelerate Hawaii’s clean energy transformation with enforceable targets and metrics.
>> Foster a competitive environment and level playing field among independent energy providers.
>> Guarantee immediate benefits to all residents and communities of Hawaii.
>> Protect Hawaii customers from the financial impact of the utility’s operations elsewhere.
>> Ensure a meaningful local voice in corporate decisions.
If even one of these principles were not enshrined as an enforceable condition — beyond those commitments currently offered by NextEra — then a merger would not serve the best interests of Hawaii.
It also would subject us to a number of negative outcomes, including the risk of not meeting our state’s need for low-cost, low-carbon energy and the desire to have a healthy ecosystem of companies providing clean energy services.
Blue Planet, Ulupono Initiative and other intervenors in the proposed merger listened carefully as NextEra made its case for buying HEI. Most intervenors have decided to oppose the merger. Blue Planet and Ulupono understand that position, as we share deep concerns.
But we also believe that taking over Hawaiian Electric is not the same as taking the reins over Hawaii’s energy future. Ultimately, that power lies with the PUC, elected officials and the people who elect those officials. Together, we have the power to ensure that any company — not just NextEra — seeking to profit from Hawaii’s energy must be held to the highest standards, commensurate with the islands’ rapid transition to environmentally and financially sustainable energy for all.
Hawaii has done an excellent job of examining this issue from many sides. The process alone has brought welcome attention to how we plan to power these islands in the future. We are confident that the outcome will be the right choice for the state.
