Hawaii utility regulators will soon decide on NextEra Energy Inc.’s $2.6 billion takeover bid for electric utility Hawaiian Electric Industries Inc., Hawaii Governor David Ige said Wednesday.
Hawaii utility regulators will soon decide on NextEra Energy Inc.’s $2.6 billion takeover bid for electric utility Hawaiian Electric Industries Inc., Hawaii Governor David Ige said Wednesday.
Ige, who is opposed to merger, commented on the timing as he announced the appointment of a new member of the state Public Utilities Commission. Thomas Gorak, currently chief counsel for the three-member panel, is replacing a commissioner whose term expires on June 30. The appointment shouldn’t delay a ruling on the deal since Gorak is familiar with the case and could vote on the tie-up as soon as he officially joins on July 1, said Ige, a Democrat.
Gorak’s appointment may threaten NextEra’s bid to buy Hawaiian Electric as the governor said Wednesday that he was seeking a commissioner who was more closely aligned with him on clean energy goals. Ige has called for the state to source all of its electricity from renewable resources by 2045 and has questioned NextEra’s commitment to that target.
Latest Twist
The announcement is the latest twist in the saga between Nextera and Hawaii over a merger review that has taken more than 18 months. The takeover has drawn intense opposition from local officials, environmental groups and solar companies. Hawaii Public Utilities Commission Chair Randy Iwase said earlier this month he was hopeful that the panel would rule on the merger by the end of June.
Gorak’s appointment shouldn’t affect the timing of the commission’s decision on the deal, said Delmond Won, a spokesman for the utility panel.
NextEra and Hawaiian Electric declined to comment.