-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, A4Pq00CBKMAKxqrfH4pXQbi31+MNwe4uPy1jD2uoSwG5mN8UNDdhMYnsAVC9tarV wulmjx4wGF4y7z0SFAepsQ== 0001193125-09-249356.txt : 20091208 0001193125-09-249356.hdr.sgml : 20091208 20091208170106 ACCESSION NUMBER: 0001193125-09-249356 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20091202 ITEM INFORMATION: Entry into a Material Definitive Agreement FILED AS OF DATE: 20091208 DATE AS OF CHANGE: 20091208 FILER: COMPANY DATA: COMPANY CONFORMED NAME: HAWAIIAN ELECTRIC CO INC CENTRAL INDEX KEY: 0000046207 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 990040500 STATE OF INCORPORATION: HI FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-04955 FILM NUMBER: 091229262 BUSINESS ADDRESS: STREET 1: 900 RICHARDS ST CITY: HONOLULU STATE: HI ZIP: 96813 BUSINESS PHONE: 8085437771 MAIL ADDRESS: STREET 1: 900 RICHARDS STREET CITY: HONOLULU STATE: HI ZIP: 96813 FORMER COMPANY: FORMER CONFORMED NAME: HAWAIIAN ELECTRIC CO LTD DATE OF NAME CHANGE: 19670212 FILER: COMPANY DATA: COMPANY CONFORMED NAME: HAWAIIAN ELECTRIC INDUSTRIES INC CENTRAL INDEX KEY: 0000354707 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 990208097 STATE OF INCORPORATION: HI FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-08503 FILM NUMBER: 091229261 BUSINESS ADDRESS: STREET 1: 900 RICHARDS ST CITY: HONOLULU STATE: HI ZIP: 96813 BUSINESS PHONE: 8085435662 MAIL ADDRESS: STREET 1: 900 RICHARDS STREET CITY: HONOLULU STATE: HI ZIP: 96813 8-K 1 d8k.htm FORM 8-K Form 8-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

 

 

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

 

 

Date of Report: December 2, 2009

 

 

Exact Name of Registrant

as Specified in Its Charter

  

Commission

File Number

   I.R.S. Employer

Identification No.

Hawaiian Electric Industries, Inc.

Hawaiian Electric Company, Inc.

  

1-8503

1-4955

   99-0208097

99-0040500

State of Hawaii

(State or other jurisdiction of incorporation)

900 Richards Street, Honolulu, Hawaii 96813

(Address of principal executive offices and zip code)

Registrant’s telephone number, including area code:

(808) 543-5662—Hawaiian Electric Industries, Inc. (HEI)

(808) 543-7771—Hawaiian Electric Company, Inc. (HECO)

None

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 


Item 1.01 Entry into a Material Definitive Agreement.

The following is an update to the discussion in Item 1. Business—Electric Utility—Fuel oil usage and supply, which is incorporated herein by reference to pages 8-9 of HEI’s and HECO’s Form 10-K for the year ended December 31, 2008:

Under the existing HECO contract with Chevron Products Company, a division of Chevron USA, Inc. (Chevron) for the purchase of low sulfur fuel oil (LSFO), Chevron has the right to require renegotiation of the pricing specified in the contract under certain conditions. On December 2, 2009, HECO and Chevron executed an amendment to the existing contract. The amendment modified the pricing formula, after Chevron demonstrated the renegotiation requirements of the contract had been met. The revised pricing formula will become operative on February 15, 2010. The amended agreement terminates on April 30, 2013, compared with the existing contract that would have terminated on December 31, 2014. HECO’s energy cost adjustment clause (ECAC) allows for recovery of changes in fuel prices for contracts that have been approved by the Public Utilities Commission of the State of Hawaii (PUC). HECO is following the necessary procedures to obtain PUC approval for the amendment prior to the new pricing formula becoming effective. If PUC approval is not obtained by January 31, 2010, HECO has the right to terminate the contract, in which case it would make alternative arrangements for the purchase of LSFO.

 

1


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrants have duly caused this report to be signed on their behalf by the undersigned thereunto duly authorized. The signature of the undersigned companies shall be deemed to relate only to matters having reference to such companies and any subsidiaries thereof.

 

HAWAIIAN ELECTRIC INDUSTRIES, INC.

                                                             (Registrant)

   

HAWAIIAN ELECTRIC COMPANY, INC.

                                                         (Registrant)

/s/ James A. Ajello    

/s/ Tayne S. Y. Sekimura

James A. Ajello

Senior Financial Vice President, Treasurer, and

Chief Financial Officer

(Principal Financial Officer of HEI)

   

Tayne S. Y. Sekimura

Senior Vice President and

Chief Financial Officer

(Principal Financial Officer of HECO)

Date: December 8, 2009     Date: December 8, 2009

 

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