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The way I heard it was, if your contractor selling grid power installs, well, you'll be going under...
I heard that NEE has it's own solar contractors and if you want grid tie you gotta go exclusively through NEE. Yep, it one day it will probably be illegal to disconnect from the grid. Will be interesting to see the changes (if any) from this.
I think the real reason is to for NEE to get all the solar contract money.
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"Their Florida net metering requires an approved parts supplier list and a smart meter that is under utility shut-off control, so when the main power goes out, your solar panels are shut off"
That's how it works here now !!!
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Tom,
"I wouldn't consider seeing a thorium based reactor on the island out of the question in my lifetime."
I admire your optimism, but the state can't even get an inter-island ferry service to work. Anything with the word "nuclear" in it just won't happen in our lifetimes. In most cases for the right reasons, but anything new here will just incite the vocal minority and that's assuming the state would allow it in the first place. Even if they did you have to allow for them screwing things up.
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Florida has made off grid illegal. That is Florida though, not Hawaii.
I'm sure the new owners of HEI would never lobby for similar changes here...
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Update: FYI - (*Snipped - More at link)
http://www.hawaiinewsnow.com/story/27635...ctric-sale
A class-action lawsuit challenging the sale of Hawaiian Electric Industries to Florida-based NextEra Energy alleges that HEI's board undervalued the company.
The suit also accuses board members of not seeking competing offers when it inked the multibillion dollar deal.
(HEI's board) failed to maximize shareholder value and to protect the interests of HEI's shareholders," said the suit, which was filed by Madisonville, La. lawyer Michael Palestina and local attorney James Bickerton.
"Instead, defendants engaged in a process that was designed to benefit NextEra and secure material personal benefits for themselves.
In the deal, NextEra agreed to pay $3.5 billion, excluding debt. That comes to $33.50 per share, or about 19 percent above the trading price when the deal was announced.
But the lawsuit noted that some Wall Street analysts valued the stock at up to $35 per share.
The suit also alleges that board, as well as senior managers, will receive lucrative payouts from the deal.
According to HEI's proxy filing, CEO Constance Lau will get nearly $8 million if she's not retained by Next Era while Chief Financial Officer James Ajello will get about $2.3 million. Chief Administrative Officer Chet Richardson will walk away with about $1.9 million.
"It's very lucrative for people at the top," said Henry Curtis of Life of the Land.
An HEI spokesman said the company is confident that the deal "is in the best interest of the company" and its stakeholders.
Experts say say the deal could force NextEra to pay a higher price. But they believe the courts and regulators will ultimately approve the deal.
"They're going to have to address this before going forward. The lawsuit is to try to slow it down or eliminate this from occurring at all," said Terry Lee, president of Lee Financial Group.
"(But) I find it difficult to see any breach of financial responsibility."
This is the first of what could be several shareholder lawsuits ... which could add further delays to the megadeal.
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several shareholder lawsuits ... which could add further delays
Hooray! The system works!
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I can't understand why HE shareholders would be complaining; their shares jumped 20% in value overnight.
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This is the first of what could be several shareholder lawsuits ... which could add further delays to the megadeal.
Kinda dumb to sue if you want more money out of the deal because HE is going to have to spend money to defend the lawsuits, possibly devaluing HE stock!
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I'm sure it's pretty much a done deal. My only concern would be that I have FPL now and IMHO the service stinks. I'm sure service is fine in urban areas but it's not necessarily adequate in rural areas. I consider the BI mostly rural.
Pua`a
S. FL
Big Islander to be.
Pua`a
S. FL
Big Islander to be.
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Of interest perhaps, being this deal is really not a "done deal" just yet. Thoughts on HELCO being a truly "public utility" (ie. "Co-op")?
(*Snipped - More at link)
We have invited Dennis Esaki, a founder of Kauai Island Utility Cooperative (KIUC), and David Bissell, CEO of KIUC, to speak to us about how one forms a community-based utility. Having such a utility cooperative here on the Big Island would give us more control over our destiny.
It will be held this Friday, December 19, 11:30 a.m., at the former C. Brewer Executive Center in Wainaku. The event is sponsored by the Big Island Community Coalition, the Hilo Hamakua Coast Development Corporation, and the Hawaii Farmers and Ranchers United. The Ed Olson Trust is providing the Wainaku Executive Center facilities. Please R.S.V.P.
The Kauai Island Utility Cooperative was formed in 2002 when Citizens Communications’ Kauai Electric announced that it was selling the Kaua‘i utility. We have a similar situation right now in that Hawaiian Electric Industries (HEI) recently announced it is selling to NextEra.
http://hahaha.hamakuasprings.com/2014/12...co-op.html
Also of note, currently, there is a lawsuit filed prior to the "merger", in Honolulu by attorney, John Carroll, et al., to end the HEI monopoly.
http://www.hawaiifreepress.com/ArticlesM...opoly.aspx
Food for thought.
JMO.
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