Deadline looms for Hawaiian Electric merger with NextEra

Deadline looms for Hawaiian Electric merger with NextEra

Associated Press

HONOLULU (AP) - A deadline is looming in Hawaii over a proposal for Florida-based NextEra to buy the state's main utility.

NextEra has proposed to buy Hawaiian Electric for $4.3 billion, and the sale was approved by Hawaiian Electric's shareholders a year ago. But the state utility regulator hasn't yet announced a decision.

If a deal isn't in place by Friday, NextEra has warned that it may walk away.

Critics have questioned whether the deal would result in energy savings for consumers who pay the highest electricity costs in the nation. They also question whether NextEra would help Hawaii meet its aggressive renewable energy goals.

But analysts and local businesses say NextEra would provide valuable expertise and financing.

NextEra and Hawaiian Electric declined to comment.

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