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PUC of Hawaii rejects NextEra Energy, Hawaiian Electric deal

Staff Writer |
The Public Utilities Commission (PUC) of Hawaii has rejected the $4.3 billion proposal to sell Hawaiian Electric Industries to Florida-based NextEra Energy.

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In a 2-0 vote, Chair Randy Iwase and Commissioner Lorraine Akiba dismissed the application without prejudice.

The decision comes nearly 20 months after Hawaiian Electric Industries CEO Connie Lau announced that the two companies had agreed to merg.

In Janury 2015, NextEra Energy and Hawaiian Electric Company, Hawaii Electric Light Company and Maui Electric Company Limited (collectively Hawaiian Electric), subsidiaries of Hawaiian Electric Industries (HEI), filed an application with the Hawaii Public Utilities Commission (PUC) requesting approval of the proposed merger involving Hawaiian Electric.

After the PUC's "no," NextEra Energy and Hawaiian Electric issued a simple statement: "We are in receipt of today's PUC order and are currently reviewing it."

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