Bill > SB137

This bill aims to protect Hawaii's renewable energy goals and workforce during potential electric utility company acquisitions, mergers, or consolidations. It requires the Public Utilities Commission (PUC) to evaluate whether a proposed acquisition would further the state's renewable energy objectives, and mandates that any acquiring entity preserve existing power purchase agreements with independent power producers without terminating or materially renegotiating them. The bill also requires acquiring entities to maintain all existing collective bargaining agreements and retain current employees, ensuring workforce stability. Additionally, the legislation establishes a unique bidding process that requires electric utilities to solicit and consider bids from non-investor-owned entities (such as member-owned cooperatives or non-profit organizations) when an investor-owned utility seeks to acquire them. The PUC must review all submitted bids concurrently, giving equal consideration to different ownership models. By implementing these provisions, the bill seeks to protect Hawaii's ongoing energy transition from fossil fuels to renewable energy sources and maintain the integrity of existing energy infrastructure and workforce agreements during potential corporate transitions.

Agriculture and Natural Resources, Business and Industry, Justice

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=SB&billnumber=137&year=2025