Hawaiian Electric Industries Statement on Hawaii Public Utilities Commission
Energy Policy Decisions
HONOLULU, April 30, 2014
HONOLULU, April 30, 2014 /PRNewswire/ --Hawaiian Electric Company, Inc.
(Hawaiian Electric), a wholly-owned subsidiary of Hawaiian Electric
Industries, Inc. (HEI) (NYSE: HE), today reported that the Hawaii Public
Utilities Commission (PUC) issued four decisions and orders that collectively
represent a comprehensive set of energy policies and guidelines for the state
of Hawaii, including resource planning and operational directives to the
Hawaiian Electric utilities:
oIntegrated Resource Planning (Docket No. 2012-0036, Order No. 32052);
oReliability Standards Working Group (Docket No. 2011-0206, Order No.
oPolicy Statement and Order Regarding Demand Response Programs (Docket No.
2007-0341, Order No. 32054); and
oMaui Electric Company (Maui Electric) 2012 Test Year Rate Case (Docket No.
2011-0092, Order No. 32055).
The PUC announced these orders today in a press release which can be
The decisions and orders listed above may be obtained at the PUC's website
"In this challenging, fast-changing energy environment, we welcome the PUC's
clear direction and roadmap. We've been working on many of these initiatives,
and these directives confirm the energy policy priorities that will guide our
strategies and implementation," said Dick Rosenblum, Hawaiian Electric
president and chief executive officer.
"We understand the importance of moving quickly and see this as an
unprecedented opportunity to move aggressively on a shared vision for the
utility of the future and on our role in meeting the needs of our customers.
We look forward to working with the PUC and the Hawai'i State Energy Office as
we move forward to develop and execute these comprehensive plans," added
HEI and Hawaiian Electric Hawaiian Electric intend to continue to use HEI's
website, www.hei.com, as a means of disclosing additional information. Such
disclosures will be included on HEI's website in the Investor Relations
section. Accordingly, investors should routinely monitor such portions of
HEI's website, in addition to following HEI's, Hawaiian Electric's and
American's press releases, HEI's and Hawaiian Electric's SEC filings and HEI's
public conference calls and webcasts. Also, at the Investor Relations section
of HEI's website, investors may sign up to receive e-mail alerts (based on
each investor's selected preferences). The information on HEI's website is
not incorporated by reference in this document or in HEI's and Hawaiian
Electric's SEC filings unless, and except to the extent, specifically
incorporated by reference. Investors may also wish to refer to the Public
Utilities Commission of the State of Hawaii (PUC) website at
dms.puc.hawaii.gov/dmsin order to review documents filed with and issued by
the PUC. No information on the PUC website is incorporated by reference in
this document or in HEI's and Hawaiian Electric's SEC filings.
HEI supplies power to approximately 450,000 customers or 95% of Hawaii's
population through its electric utilities, Hawaiian Electric Company, Inc.,
Hawaii Electric Light Company, Inc. and Maui Electric Company, Limited and
provides a wide array of banking and other financial services to consumers and
businesses through American Savings Bank, one of Hawaii's largest financial
This release may contain "forward-looking statements," which include
statements that are predictive in nature, depend upon or refer to future
events or conditions, and usually include words such as "expects,"
"anticipates," "intends," "plans," "believes," "predicts," "estimates" or
similar expressions. In addition, any statements concerning future financial
performance, ongoing business strategies or prospects or possible future
actions are also forward-looking statements. Forward-looking statements are
based on current expectations and projections about future events and are
subject to risks, uncertainties and the accuracy of assumptions concerning HEI
and its subsidiaries, the performance of the industries in which they do
business and economic and market factors, among other things. These
forward-looking statements are not guarantees of future performance.
Forward-looking statements in this release should be read in conjunction with
the "Forward-Looking Statements" and "Risk Factors" discussions (which are
incorporated by reference herein) set forth in HEI's Annual Report on Form
10-K for the year ended December 31, 2013 and HEI's future periodic reports
that discuss important factors that could cause HEI's results to differ
materially from those anticipated in such statements. These forward-looking
statements speak only as of the date of the report, presentation or filing in
which they are made. Except to the extent required by the federal securities
laws, HEI, Hawaiian Electric, American and their subsidiaries undertake no
obligation to publicly update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.
Contact: Shelee M.T. Kimura Telephone: (808) 543-7384
Manager, Investor Relations & Strategic E-mail: email@example.com
Hawaiian Electric Industries, Inc.
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SOURCE Hawaiian Electric Industries, Inc.
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