trending Market Intelligence /marketintelligence/en/news-insights/trending/uoGSlm_1OkNezIDSHFwh0w2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Hawaiian Electric drops Fortis LNG deal, power plant upgrades after merger crumbles

Essential Energy Insights - September, 2020

Rate case activity slips, COVID-19 proceedings remain at the forefront in August

Bull market leaves US utilities behind in August

Utilities, midstream reckon with energy transformation on the horizon

Hawaiian Electric drops Fortis LNG deal, power plant upgrades after merger crumbles

HawaiianElectric Co. Inc. has dropped a plan to import LNG from westernCanada and convert its oil-fired Kahe power plant to natural gas following the collapseof its proposed merger with NextEra Energy Inc.

The plan to convert Kahe and buy LNG from a -owned facility located on thecoast of British Columbia is too expensive to pursue without the resourcescompletion of the merger would have brought, Hawaiian Electric said in a July19 statement. Under the agreement, Fortis would have provided 800,000 metrictons of LNG over 20 years from its Tilbury LNG terminal in Delta, BritishColumbia, starting in 2021. The agreement reached in May was contingent on completion ofthe merger.

NextEra announced the termination of its $4.3 billion bid for HawaiianElectric on July 18 after the Hawaii Public Utilities Commission issued anorder that said the companies failed to show that deal was in the public interest.

"We're committed to transitioning to 100% renewableenergy in the most cost-effective way possible while ensuring reliableservice," Ron Cox, Hawaiian Electric vice president of power supply, saidin the statement. "We'll continue to evaluate all options to modernizegeneration using a cleaner fuel to bring price stability and support addingrenewable energy for our customers."

The LNG deal and plant upgrades were expected to provide acleaner, lower-cost bridge fuel toward Hawaii's goal to use 100% renewable energyby 2045 and reduce reliance on oil imports by more than 8 million barrels, or80%. The company estimated that electricity customers stood to save $850million to $3.7 billion through 2045.

As part of the deal, Hawaiian Electric proposed to build amore efficient combined-cycle generation system at the Kahe power plant andretire old oil-fired generators at the plant by the end of 2020, according to aMay 18 news release. The project had an estimated cost of $859 million.

Fortis, which owns utilities in Canada and the U.S., isheadquartered in Newfoundland and Labrador. The company was banking on the LNGagreement to underpin an expansion at the Tilbury facility.