Hawaiian Electric Pegs Loss at $1.7 Billion From Maui Fire
- Issues going-concern warning as it seeks financing options
- Utility agreed to pay nearly $2 billion as part of settlement
Employees of the Hawaiian Electric restore electric poles in the aftermath of the Maui wildfires in Lahaina, Hawaii in Aug. 2023.
Photographer: Yuki Iwamura/AFP/Getty ImagesThis article is for subscribers only.
Hawaiian Electric Industries Inc. pegged losses from estimated accrual of liabilities stemming from one of the worst wildfires in US history at $1.7 billion and issued a going-concern warning.
Hawaiian Electric said last week that it had agreed to pay almost $2 billion as part of a $4 billion settlement to resolve hundreds of lawsuits over wildfires in Maui that killed dozens of people and destroyed the historic town of Lahaina last year.