Public Utilities Commission

On October 17, 2023, the PUC issued Order No. 40317 directing HECO to update the PUC on any effects arising out of the Maui Wildfires on each application, matter, or project pending before the PUC, including any updates related to HECO’s current priorities and financial circumstances. The PUC sought this information, filed in each individual HECO docket, to ensure Parties to each docket would receive information relevant to that proceeding.

On March 18, 2024, the PUC issued Order No. 40666 directing HECO to concurrently file quarterly status updates in the non-docketed Case regarding any changes to the priority, timing, and ability to commit funds for all open, suspended, and closed dockets where the projects have been approved but are not yet operational, that are directly or indirectly affected by the Wildfires or HECO’s financial circumstances.

On August 31, 2023, the PUC issued Order No. 40218, “Directing Maui Utilities to Suspend Termination or Disconnection of Regulated Utility Services due to Non-Payment and/or Assessment of Other Charges through October 17, 2023, and Directing affected Maui Utilities to Pursue all Available Aid” in Case No. 2023-04643. In addition to directing all PUC-regulated electric, gas, telecommunications, water, and wastewater public utilities located on Maui or providing utility service on Maui to suspend disconnections and file informational reports through October 17, 2023, Order No. 40218 also directed the Maui Utilities to pursue all available aid beyond the October 17, 2023 time frame.

On October 13, 2023, the PUC issued Order No. 40313, “Continuing Suspension of Termination or Disconnection of Maui Utilities’ Regulated Utility Services Due to Customer Non-Payment and/or Assessment of Certain Other Charges”, extending the original Order No. 40218’s suspension of disconnections and reporting requirements from October 17, 2023 to the duration of the Governor’s emergency proclamations relating to wildfires.

On March 5, 2024, HECO filed a “Notice of Intent to File Applications for Approvals to Transfer Property Pursuant to Paragraph 13 of the Conditions for the Merger and Corporate Restructuring of HECO Company, Inc. and HRS § 269-19 by HECO Company, Inc.”

Maui Electric Company (“MECO”) also files monthly wildfire-related litigation reports in this non-docketed case.

On November 6, 2023, HECO filed an application seeking expedited approval to sell accounts receivable (“A/R”) to secure short-term financing, which would grant the Companies access to a $250 million line of credit. HECO is also seeking to obtain approval of a long-term (multi-year) credit facility in the amount of $250 million secured by the same source of A/R.

On June 27, 2024, The PUC issued Decision & Order No. 40866 approving HECO’s request for an A/R credit facility of $250 million to address its short-term funding needs.

On August 21, 2023, HECO filed an application (subsequently amended on October 13, 2023) to defer costs related to the Companies’ response and restoration efforts and other expenses arising from the Maui Wildfires.

On December 27, 2023, the PUC issued Decision and Order No. 40467 granting, subject to conditions, HECO’s request to defer certain costs related to its response and relief efforts associated with the August 2023 wildfires on Maui. The PUC clarifies that any future requests for cost recovery will be addressed separately in response to future application(s) submitted by HECO.

On August 11, 2023, the PUC issued Interim Order No. 40167 authorizing HECO to transfer certain property from its operating companies on Oahu and Hawaii Island to its operating company on Maui Island to support on-going efforts to restore utility service following the Maui Wildfires.