Last $24.50 USD
Change Today -0.1499 / -0.61%
Volume 25.5K
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As of 10:09 AM 07/25/14 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

1001 Bishop Street

Suite 2900

Honolulu, HI 96813

United States

Phone: 808-543-5662


Hawaiian Electric Industries, Inc., through its subsidiaries, engages in electric utility and banking businesses operating primarily in the state of Hawaii. The company's subsidiary, Hawaiian Electric Company, Inc. (HECO) and its operating utility subsidiaries, Hawaii Electric Light Company, Inc. (HELCO) and Maui Electric Company, Limited (MECO), are regulated electric public utilities. The company also owns directly or indirectly various subsidiaries, including American Savings Holdings, Inc. (ASHI) (a holding company) and its subsidiary, American Savings Bank, F.S.B. (ASB), and the subsidiaries of ASB; HEI Properties, Inc. (HEIPI); Hawaiian Electric Industries Capital Trusts II and III; and The Old Oahu Tug Service, Inc. (TOOTS). Electric utility HECO and subsidiaries and service areas HECO, HELCO and MECO are regulated operating electric public utilities engages in the production, purchase, transmission, distribution, and sale of electricity on the islands of Oahu; Hawaii; and Maui, Lanai, and Molokai, respectively. The principal communities served include Honolulu (on Oahu), Hilo and Kona (on Hawaii) and Wailuku and Kahului (on Maui). The service areas also include various suburban communities, resorts, U.S. Armed Forces installations, and agricultural operations. Customers: HECO and its subsidiaries sell electricity to various federal government agencies. Nonutility generation The company’s renewable energy sources range from wind, solar, photovoltaic, geothermal, wave and hydroelectric power to energy produced by the burning of bagasse (sugarcane waste), municipal waste, and other biofuels. HECO firm capacity power purchase agreements (PPAs): HECO has 3 major PPAs that provide a total of 434 MW (megawatt) of firm capacity, representing 25% of HECO’s total net generating and firm purchased capacity on Oahu, as of December 31, 2012. HELCO and MECO firm capacity PPAs: As of December 31, 2012, HELCO has PPAs for 98 MW and MECO has a PPA for 16 MW (including 4 MW of system protection) of firm capacity. MECO has a PPA with Hawaiian Commercial & Sugar Company (HC&S) for 16 MW of firm capacity. MECO’s and HELCO’s steam generating units burn medium sulfur fuel oil (MSFO) and HELCO’s and MECO’s Maui and Molokai combustion turbine and diesel engine generating units burn diesel and biodiesel. MECO’s Lanai diesel engine generating units burn high- and ultra-low-sulfur grades of diesel. Properties HECO owns and operates four generating plants on the island of Oahu at Honolulu, Waiau, Kahe and Campbell Industrial Park (CIP). These plants have an aggregate net generating capability of 1,321.6 MW, as of December 31, 2012. The 4 plants are situated on HECO-owned land having a combined area of 535 acres and one 3.5-acre parcel of land under a lease expiring December 31, 2018. In addition, HECO owns a total of 132 acres of land on which substations, transformer vaults, distribution baseyards and the Kalaeloa cogeneration facility are located. HECO owns buildings and approximately 11.6 acres of land located in Honolulu which houses its operating, engineering and information services departments and a warehousing center. HECO owns land at Campbell Industrial Park (CIP) used to situate central fuel storage facilities adjacent to its CIP combustion turbine No. 1 (CT-1) generating unit facility with an aggregate usable capacity of 954,036 barrels of fuel, which land is included in the power plant acreage. HECO also owns a fuel storage facility at Iwilei, which receives fuel trucked from the central storage facility, with a combined usable capacity of 76,735 barrels, and an under-ground pipeline that transports fuel from that site to its Honolulu generating station. HELCO owns and operates five generating plants on the island of Hawaii, two at Hilo and one at each of Waimea, Keahole and Puna, along with distributed generators at substation sites. These plants have an aggregate net generating capability of 197.1 MW, as of December 31, 2012. The plants are situated on HELCO-owned land having a combined area of approximately 44 acres. The distributed generators are located within HELCO-owned substation si


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