Bill > SB137

This bill establishes new regulations for the acquisition, merger, or consolidation of electric utility companies in Hawaii, designed to protect the state's renewable energy goals and workforce stability. The bill requires the Public Utilities Commission (PUC) to evaluate whether a proposed merger would further the state's renewable energy objectives and imposes several key restrictions on acquiring entities. These include prohibiting the termination or renegotiation of existing power purchase agreements with independent power producers, mandating that the acquiring entity assume all existing collective bargaining agreements, and requiring the retention of all current employees except in cases of documented cause. Additionally, the bill creates a unique bidding process that requires electric utilities to solicit and consider bids from non-investor-owned utility entities (such as member-owned cooperatives or non-profit organizations) when an investor-owned utility seeks to acquire them. The PUC must then review these alternative bids concurrently with the investor-owned utility's application, providing a mechanism to ensure diverse ownership models are considered during utility acquisitions. The legislation aims to protect the state's long-term energy transition efforts and prevent potential disruptions to renewable energy development and existing workforce arrangements.

Agriculture and Natural Resources, Business and Industry, Justice

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=SB&billnumber=137&year=2026