Hawaiian Electric says power lines were out for hours before deadly Maui fire (NYSE:HE) - Seeking Alpha
Hawaiian Electric says power lines were out for hours before deadly Maui fire (NYSE:HE) | Seeking Alpha
Hawaiian Electric says power lines were out for hours before deadly Maui fire
Hawaiian Electric Industries, Inc. (HE) By:
Carl Surran, SA News Editor
95 Comments My Photo Buddy/iStock via Getty Images
Hawaiian Electric (NYSE: HE) +45.3% in early trading Monday after the utility said its power lines had been " de-energized for more than six hours" before the wildfire that killed at least 115 people in Maui earlier this month.
Hawaiian Electric ( HE) said that while a much earlier fire appears to have been caused by fallen power lines, fire officials declared that particular fire "100% contained" and "extinguished," and left the scene.
In response to a lawsuit filed last week by Maui County alleging its power lines caused the deadly wildfires, the company said it was "surprised and disappointed that the County of Maui rushed to court even before completing its own investigation," and the county's complaint is "factually and legally irresponsible."
Hawaiian Electric ( HE) shares have plunged during the past three weeks and on Friday hit their lowest level since 1984.
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