Hawaiian Electric reported higher net income in Q3 2026, but core utility earnings fell sharply due to hurricane-related costs. The company is awaiting regulatory decisions on a 5.3% rate increase and storm-cost recovery, while managing its Maui wildfire settlement obligations.
- Core utility net income dropped to $27.6M from $39.6M a year earlier, driven by $13.7M in storm costs from hurricanes in August and September.
- Hurricane Lala caused outages for more than 40% of customers across Hawaiian Electric’s service territories, with 95% restored within three days.
- The utility has requested regulatory approval to defer storm-related expenses, with a decision expected by Dec. 15, 2026.
- A proposed 5.3% base-rate increase is pending, with a regulatory decision expected mid-to-late April 2027 and new rates potentially taking effect in early May.
- Hawaiian Electric has prepaid $80M toward its Maui wildfire settlement and is managing approximately $1.3B in consolidated liquidity.
Source: Marketbeat
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