HONOLULU, April 30, 2014 /PRNewswire/ -- Hawaiian
Electric Company, Inc. (Hawaiian Electric), a wholly-owned
subsidiary of Hawaiian Electric Industries, Inc. (HEI) (NYSE:
HE), today reported that the Hawaii Public Utilities Commission
(PUC) issued four decisions and orders that collectively represent
a comprehensive set of energy policies and guidelines for the state
of Hawaii, including resource
planning and operational directives to the Hawaiian Electric
utilities:
- Integrated Resource Planning (Docket No. 2012-0036, Order No.
32052);
- Reliability Standards Working Group (Docket No. 2011-0206,
Order No. 32053);
- Policy Statement and Order Regarding Demand Response Programs
(Docket No. 2007-0341, Order No. 32054); and
- Maui Electric Company (Maui Electric) 2012 Test Year Rate Case
(Docket No. 2011-0092, Order No. 32055).
The PUC announced these orders today in a press release which
can be referenced at:
http://puc.hawaii.gov/wp-content/uploads/2014/04/Press-Release-Summaries.2014-04-29.pdf.
The decisions and orders listed above may be obtained at the
PUC's website at: http://dms.puc.hawaii.gov/dms/.
"In this challenging, fast-changing energy environment, we
welcome the PUC's clear direction and roadmap. We've been
working on many of these initiatives, and these directives confirm
the energy policy priorities that will guide our strategies and
implementation," said Dick
Rosenblum, Hawaiian Electric president and chief executive
officer.
"We understand the importance of moving quickly and see this as
an unprecedented opportunity to move aggressively on a shared
vision for the utility of the future and on our role in meeting the
needs of our customers. We look forward to working with the
PUC and the Hawai'i State Energy Office as we move forward to
develop and execute these comprehensive plans," added
Rosenblum.
HEI and Hawaiian Electric Hawaiian Electric intend to continue
to use HEI's website, www.hei.com, as a means of disclosing
additional information. Such disclosures will be included on
HEI's website in the Investor Relations section. Accordingly,
investors should routinely monitor such portions of HEI's website,
in addition to following HEI's, Hawaiian Electric's and American's
press releases, HEI's and Hawaiian Electric's SEC filings and HEI's
public conference calls and webcasts. Also, at the Investor
Relations section of HEI's website, investors may sign up to
receive e-mail alerts (based on each investor's selected
preferences). The information on HEI's website is not
incorporated by reference in this document or in HEI's and Hawaiian
Electric's SEC filings unless, and except to the extent,
specifically incorporated by reference. Investors may also
wish to refer to the Public Utilities Commission of the
State of Hawaii (PUC) website at
dms.puc.hawaii.gov/dms in order to review documents filed with
and issued by the PUC. No information on the PUC website is
incorporated by reference in this document or in HEI's and Hawaiian
Electric's SEC filings.
HEI supplies power to approximately 450,000 customers or 95% of
Hawaii's population through its
electric utilities, Hawaiian Electric Company, Inc., Hawaii
Electric Light Company, Inc. and Maui Electric Company, Limited and
provides a wide array of banking and other financial services to
consumers and businesses through American Savings Bank, one of
Hawaii's largest financial
institutions.
FORWARD-LOOKING STATEMENTS
This release may contain
"forward-looking statements," which include statements that are
predictive in nature, depend upon or refer to future events or
conditions, and usually include words such as "expects,"
"anticipates," "intends," "plans," "believes," "predicts,"
"estimates" or similar expressions. In addition, any
statements concerning future financial performance, ongoing
business strategies or prospects or possible future actions are
also forward-looking statements. Forward-looking statements
are based on current expectations and projections about future
events and are subject to risks, uncertainties and the accuracy of
assumptions concerning HEI and its subsidiaries, the performance of
the industries in which they do business and economic and market
factors, among other things. These forward-looking statements
are not guarantees of future performance.
Forward-looking statements in this release should be read in
conjunction with the "Forward-Looking Statements" and "Risk
Factors" discussions (which are incorporated by reference herein)
set forth in HEI's Annual Report on Form 10-K for the year ended
December 31, 2013 and HEI's future
periodic reports that discuss important factors that could cause
HEI's results to differ materially from those anticipated in such
statements. These forward-looking statements speak only as of
the date of the report, presentation or filing in which they are
made. Except to the extent required by the federal securities
laws, HEI, Hawaiian Electric, American and their subsidiaries
undertake no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
Contact:
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Shelee M.T.
Kimura
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Telephone: (808)
543-7384
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Manager, Investor
Relations & Strategic Planning
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E-mail:
skimura@hei.com
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SOURCE Hawaiian Electric Industries, Inc.