May 2, 2016
Support for Proposed Merger Continues to Grow as More Than 100 Hawaii-Based Organizations Endorse the Combination of Hawaiian Electric and NextEra Energy
HONOLULU - NextEra Energy, Inc. (NYSE: NEE) and Hawaiian Electric Industries, Inc. (NYSE: HE) (HEI) today expressed their gratitude to the more than 100 diverse Hawaii-based organizations that have publicly endorsed the Hawaiian Electric-NextEra Energy merger.
Those supporting the proposed merger comprise a diverse statewide coalition including multiple chambers of commerce, labor unions, small and large businesses, Native Hawaiian and non-profit organizations.
"As the regulatory review process comes to a close, we want to express our deep appreciation for all the support we have received from so many across the state," said Eric Gleason, president of NextEra Energy Hawaii. "We are particularly pleased that such a broad and diverse group of organizations, including labor and community groups, small and large businesses, local chambers of commerce and Native Hawaiian organizations, recognize the many benefits the Hawaiian Electric-NextEra Energy merger will bring to Hawaii. As we await a decision by the Public Utilities Commission, NextEra Energy stands ready to be a strong, long-term energy service provider for Hawaiian Electric's customers and partner for its communities."
"We thank everyone for participating in a process that is so important to the future of Hawaii'seconomy and quality of life and for supporting this merger as the right path forward to realize the energy future we all want for Hawaii," said Alan Oshima, Hawaiian Electric's president and chief executive officer. "NextEra Energy has the resources and experience to not only help us reach our clean energy goals, but also to accelerate the process and deliver long-term cost savings to customers and businesses. As we said from the outset, NextEra Energy is the right partner for Hawaiian Electric and the right partner for Hawaii."
NextEra Energy is a world-class energy company with the expertise, processes and best practices to partner with Hawaiian Electric to enhance service, reliability and performance. The Company has received numerous awards from credible third parties for its overall performance relative to its national and global peers, as well as its leadership in areas such as innovation, ethics and sustainability. NextEra Energy's utility, Florida Power & Light Company (FPL), is leading the industry in grid modernization, having deployed more than 4.8 million smart meters and more than 12,000 intelligent devices throughout its Florida service network. FPL's smart grid is recognized as one of the most advanced grids in the nation and one of the most comprehensive, full-scale deployments of its kind, delivering measurable operational savings and strong customer benefits, including improvements in efficiency, reliability and customer service.
NextEra Energy has committed to delivering a total of nearly $1 billion in customer savings and economic benefits and to achieving Hawaii's goal of 100 percent renewable energy by 2045. Together, NextEra Energy and Hawaiian Electric plan to help achieve this objective by leveraging NextEra Energy's strong financial profile to invest in Hawaii's electrical grid modernization and clean energy programs.
NextEra Energy, Inc.
Hawaiian Electric Company
In a changing world, the Hawaiian Electric Companies are taking the lead in adding renewable energy and developing energy solutions for their customers to achieve a clean energy future for Hawaii. For more information, visit www.hawaiianelectric.com.
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