🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Hawaiian Electric discussing new policy to mitigate wildfire risks

Published 11/03/2023, 08:25 PM
Updated 11/03/2023, 08:30 PM
© Reuters. FILE PHOTO: The shells of burned houses and buildings are left after wildfires driven by high winds burned across most of the town in Lahaina, Maui, Hawaii, U.S. August 11, 2023. Hawai'i Department of Land and Natural Resources/Handout via REUTERS

(Reuters) - Utility firm Hawaiian Electric Industries (NYSE:HE) said on Friday it was in discussions with the government and other parties to implement a new policy to de-energize power lines as a preventive measure to mitigate wildfire risks.

The company also announced other steps including deploying spotters in risk prone locations as well as expanding inspections of poles and lines.

Just a few months earlier, the company had defended its policy to not implement steps such as de-energizing during the deadly wildfires in Maui.

In September, the company's CEO Shelee Kimura had said a pre-emptive shutdown of power lines was not part of the utility's protocol, even as Hawaiian Electric was bracing for high winds of more than 60 miles (96.56 km) per hour.

© Reuters. FILE PHOTO: The shells of burned houses and buildings are left after wildfires driven by high winds burned across most of the town in Lahaina, Maui, Hawaii, U.S. August 11, 2023. Hawai'i Department of Land and Natural Resources/Handout via REUTERS

She had said that long-held protocol relied on the closure of problem electrical circuits and not de-energizing them. The utility studied pre-emptive shutdowns of power, but Kimura said such a protocol "was not an appropriate fit for Hawaii".

Hawaiian Electric added it is advancing its work on a $190 million grid resilience plan to face against wildfires, hurricanes, tsunami and flooding.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.