Hawaiian Electric pulls back from LNG deal in failed merger fallout
By EUCI Energize Weekly.
Following the rejection of a proposed merger between Hawaiian Electric Co. (HECO) parent company Hawaiian Electric Industries (HEI) and NextEra Energy, HECO has officially withdrawn its application to import liquefied natural gas (LNG) from Canada, even though importing LNG was a major component of its official long-term power supply plan now before regulators.
HECO officials announced last week that it would drop out of a LNG contract with Fortis Hawaii Energy Inc., citing the July 18 termination of the proposed $4.3 billion buyout of HEI. The company also said it would withdraw applications to upgrade its Kahe Power Plant in west Oahu using the imported LNG fuel.