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Hawaiian Electric Q2 Results Show Regulatory Progress but Costs Climb

Hawaiian Electric Industries logoHawaiian Electric Industries
Sig3.22Sen-1.72Env-0.46Soc+0.78Gov+2.14

Hawaiian Electric reported second-quarter net income of $123.2 million, but core earnings fell as operating costs rose. The utility cleared regulatory steps on rate rebasing and resubmitted a request for a $170 million base rate increase, while losing a $28 million wildfire expense deferral and absorbing storm response costs from February-March flooding. The commission also required proof of need for up to 500 MW of additional firm generation on Oahu.

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