| Schedule of Windstorm and Wildfire Expenses |
See table below for the incremental expenses related to the Maui windstorm and wildfires. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended September 30, 2024 | | Nine months ended September 30, 2024 | | (in thousands) | | | | | Electric utility | | HEI Consolidated | | Electric utility | | | | | | HEI Consolidated | | Maui windstorm and wildfires related expenses: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Legal expenses | | | | | $ | 11,821 | | | $ | 17,963 | | | $ | 40,169 | | | | | | | $ | 57,990 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Wildfire tort-related claims | | | | | 203,000 | | | 203,000 | | | 1,915,000 | | | | | | | 1,915,000 | | | | | | | | | | | | | | | | | | Other expense | | | | | 13,429 | | | 15,433 | | | 36,523 | | | | | | | 41,819 | | | | | | | | | | | | | | | | | | | Total Maui windstorm and wildfires related expenses | | | | | 228,250 | | | 236,396 | | | 1,991,692 | | | | | | | 2,014,809 | | Insurance recoveries | | | | | (49,625) | | | (52,158) | | | (75,973) | | | | | | | (83,610) | | Deferral treatment approved by the PUC1 | | | | | (8,589) | | | (8,589) | | | (24,143) | | | | | | | (24,143) | | | Total Maui windstorm and wildfires related expenses, net of insurance recoveries and approved deferral treatment | | | | | $ | 170,036 | | | $ | 175,649 | | | $ | 1,891,576 | | | | | | | $ | 1,907,056 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three and nine months ended September 30, 2023 | | Year ended December 31, 2023 | | (in thousands) | | | | | Electric utility | | HEI Consolidated | | Electric utility | | HEI Consolidated | | Maui windstorm and wildfires related expenses: | | | | | | | | | | | | | | | | | | | | | | | | | Legal expenses | | | | | $ | 6,251 | | | $ | 10,751 | | | $ | 24,737 | | | $ | 34,876 | | | | | | | | | | | | | | | | | | | | | | | | | | Wildfire tort-related claims | | | | | 75,000 | | | 75,000 | | | 75,000 | | | 75,000 | | | | | | | | | | | | | | Other expense | | | | | 7,691 | | | 16,831 | | | 15,071 | | | 28,507 | | | | | | | | | | | | | | | Total Maui windstorm and wildfires related expenses | | | | | 88,942 | | | 102,582 | | | 114,808 | | | 138,383 | | Insurance recoveries | | | | | (75,000) | | | (75,000) | | | (98,613) | | | (104,580) | | Deferral treatment approved by the PUC1 | | | | | — | | | — | | | (14,692) | | | (14,692) | | | Total Maui windstorm and wildfires related expenses, net of insurance recoveries and approved deferral treatment | | | | | $ | 13,942 | | | $ | 27,582 | | | $ | 1,503 | | | $ | 19,111 | |
1 Related to the PUC’s order, received on December 27, 2023, approving deferred accounting treatment for the Utilities’ incremental non-labor expenses related to the August 2023 Maui windstorm and wildfires. Amounts were reclassified to a regulatory asset.
|