February 25, 2017 8:43 AM ET

Electric Utilities

Company Overview of Hawaiian Electric Company Inc.

Company Overview

Hawaiian Electric Company, Inc., together with its subsidiaries, operates as a regulated electric public utility. The company engages in the production, purchase, transmission, distribution, and sale of electricity on the islands of Oahu, Hawaii, Maui, Lanai, and Molokai. It serves various suburban communities, resorts, U.S. Armed Forces installations, and agricultural operations. As of December 31, 2014, it owned and operated four generating plants on the islands of Oahu with generating capability of 1,214 megawatts; four generating plants on the island of Hawaii with a generating capability of 179 megawatts; and two generating plants on the island of Maui with a generating capability of 24...

900 Richards Street

Honolulu, HI 96813

United States

Founded in 1891

Phone:

808-543-7771

Key Executives for Hawaiian Electric Company Inc.

Chief Executive Officer, President and Director
Age: 69
Chief Financial Officer and Senior Vice President
Age: 53
Senior Vice President of Operations
Age: 68
Chairman of the Board, Chief Executive Officer of Hawaiian Electric Industries Inc, President of Hawaiian Electric Industries Inc and Director of Hawaiian Electric Industries Inc
Age: 64
Advisor to the President & Chief Executive Officer and President of Hawaii Electric Light Company Inc
Age: 56
Compensation as of Fiscal Year 2016.

Hawaiian Electric Company Inc. Key Developments

Hawaiian Electric Co. Appoints Scott Seu as Senior Vice President of Public Affairs

Hawaiian Electric Co. has restructured its public affairs department. Scott Seu, former vice president of system operations for Hawaiian Electric, has been tapped to take on the role as senior vice president of public affairs, a position that had been vacant since Robbie Alm retired in 2013. Seu, who joined the utility, a subsidiary of Hawaiian Electric Industries in 1993, oversees the vice presidents of three areas, including Joe Viola in regulatory, Darcy Endo-Omoto in government and community affairs and Jim Kelly in corporate relations. Seu has held several leadership positions at Hawaiian Electric including in the areas of environmental management, customer installations, renewable energy resource development, power purchase contracting, planning and demand response. Prior to his current role, the Kamehameha Schools and Stanford University alumnus served as vice president of system operation since 2014.

Hawaiian Electric Industries, Inc. and Hawaiian Electric Company Inc. Announce Board Changes

On December 23, 2016 the Board of Directors of Hawaiian Electric Industries, Inc. elected Richard J. Dahl as a director of the company, effective January 1, 2017, to serve until the company's 2017 Annual Meeting of Shareholders. In addition, the Board appointed Mr. Dahl to its Audit Committee. Mr. Dahl was also elected as a director and audit committee member for the company's wholly owned subsidiary, Hawaiian Electric Company, Inc. Mr. Dahl has been Chairman, President and CEO of James Campbell Company, LLC (James Campbell Co.) since 2010. Prior to joining James Campbell Co., Mr. Dahl served in senior executive positions at Dole Food Company and Bank of Hawaii Corporation, including as president, chief operating officer and director of each such company.

Hawaiian Electric Company, Inc. Enters into Note Purchase Agreement

On December 15, 2016, Hawaiian Electric Company Inc. entered into a note purchase agreement with the purchasers shown as signatories to the agreement. Pursuant to the Note Purchase Agreement, Hawaiian Electric issued, through a private placement, its 4.54% Senior Notes, Series 2016A (to mature December 1, 2046), in the principal amount of $40 million (the Notes). The Notes are unsecured and interest payable on the Notes is taxable. All the proceeds of the Notes will be used by the company to finance capital expenditures, to repay short-term debt used to finance or refinance capital expenditures and/or to reimburse funds used for the payment of capital expenditures.

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Recent Private Companies Transactions

Type
Date
Target
Private Placement
December 19, 2016
--
Private Placement
December 15, 2016
--
 

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