HILO, Hawaii (AP) - Hawaii County has spoken out against the proposed $4.3 billion merger of Hawaii Electric Industries and Florida-based NextEra Energy.
The Hawaii Tribune-Herald reports that county officials urged the Public Utilities Commission not to approve the deal because it is not in the best interest of the ratepayer.
Hawaii County joins a growing list of opposition including Gov. David Ige, Maui County, the state Department of Business, Economic Development and Tourism and the state office of Planning. In total there are 17 members of the opposition.
The companies valued the deal at $2.6 billion in December, or $4.3 billion including the assumption of Hawaiian Electric's debt.
NextEra owns one of the country's largest electrical utilities, Florida Power & Light Co., and a major wind and solar energy company.