Hawaiian Electric Industries rose sharply in the US stock market on the 28th. Hawaiian Electric said power lines had been cut off hours before the devastating wildfires that erupted in Maui, Hawaii, this month. At least 115 people died in the wildfires.
Hawaiian Electric said Tuesday that the fire that broke out on the morning of August 8 was likely caused by a downed power line caused by high winds, but the second fire that destroyed the seaside town of Lahaina was due to the company’s transmission line. It occurred in the afternoon, more than six hours after the facility was shut down.
Shares of Hawaiian Electric Industries rose 47% at one point. Investors and the county of Maui sued the parent company last week, alleging that Hawaiian Electric failed to shut off power and take safety measures to contain the fire.
news-rsf-original-reference paywall">Original title:Hawaii Utility Says Power Lines Were Out for Hours Before Blaze(excerpt)
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2023-08-28 14:02:43
