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NextEra Energy Inc. and Hawaiian Electric Industries Inc. on Aug. 31 filed reply testimony with the Hawaii Public Utilities Commission, outlining more than 50 new commitments tied to their proposed merger amid ongoing criticism of the deal.
In a joint news release, the companies said the new commitments will accelerate Hawaii's progress toward meeting its goal of 100% renewable energy by 2045 and keep Hawaiian Electric and its utility subsidiaries locally managed. According to the release from NextEra and Hawaiian Electric the commitments will "strengthen and underscore the broad range of benefits that the merger will deliver." NextEra recently said customer savings and economic benefits would total almost $1 billion in the first five years following the close of the deal, with customer savings of $465 million and economic benefits to the state totaling about $500 million.
NextEra had previously said the deal would result in more than $600 million in economic benefits in the first five years after closing; the companies' initial filing with the Hawaii Public Utilities Commission outlined customer savings across Hawaiian Electric's three utilities of $60 million.
NextEra and Hawaiian Electric said the estimated customer savings include $172 million in CapEx savings; $133 million in savings from a four-year general base...