NextEra Energy and Hawaiian Electric Companies had made 85 commitments as of Aug. 31, 2015, should their proposed merger deal go through.

1. Applicants Exhibit-37
Docket No. 2015-0022
Page 1 of 12
TRANSACTION COMMITMENTS
In support of the December 3, 2014 Agreement and Plan of Merger and associated
application with the Public Utilities Commission of Hawai‘i (“Commission”) for approval
of the transfer of control of Hawaiian Electric Company, Inc., Hawai’i Electric Light
Company, Inc., and Maui Electric Company, Limited (collectively the “Hawaiian Electric
Companies”) from Hawaiian Electric Industries, Inc. to Hawaiian Electric Holdings, a
wholly-owned subsidiary of NextEra Energy, Inc. ("NextEra Energy"), NextEra Energy,
on behalf of itself, Hawaiian Electric Holdings, and the Hawaiian Electric Companies,
makes the following binding commitments1
:
Clean Energy Transformation Commitments
1. [original] NextEra Energy commits to strengthening and accelerating the Hawaiian
Electric Companies’ clean energy transformation, consistent with Commission
directives and guidance, the State of Hawaii’s energy policy, and customer
interests and public policy goals.
2. [new/modified] NextEra Energy commits to collaborate with the Commission,
the Consumer Advocate and DBEDT in the development of updated resource
plans that the Hawaiian Electric Companies will file within 12 months post-
closing.
3. [new] NextEra Energy commits that the Hawaiian Electric Companies will
engage in stakeholder and community outreach with respect to these
updated resource plans.
4. [new] NextEra Energy commits to produce a comprehensive response to the
Commission’s Inclinations2
in conjunction with the development of these
updated resource plans, i.e., within 12 months post-closing.
5. [new] NextEra Energy commits to fully support the Hawaiian Electric
Companies in their work to achieve the 100% Renewable Portfolio Standard
(“RPS”) consistent with the RPS law.
6. [new] Provided the Hawaiian Electric Companies’ application to deploy smart
meters across all three utilities is approved in an acceptable form by June
30, 2016, NextEra Energy commits that: (a) the majority of customers will
have smart meters installed by July 1, 2018, with access to energy
1
Commitment made explicitly in the Applicants’ Application are identified as [original]. Commitments
modified or made explicitly since the filing of the Application and in response to various parties are
identified as [new/modified] or [new] and in bold text.
2
Commission’s Inclinations on the Future of Hawaii’s Electric Utilities (“Inclinations”), Docket No. 2012-
0036, In the Matter of Public Utilities Commission Regarding Integrated Resource Planning, Decision and
Order No. 32052, filed April 28, 2014 at Exhibit A.

2. Applicants Exhibit-37
Docket No. 2015-0022
Page 2 of 12
dashboard and remote billing by October 31, 2018; (b) full smart meter
deployment to all customers will be complete by December 31, 2019; (c)
meters will be capable of executing fixed time-of-use rates by July 1, 2018,
with dynamic pricing capabilities by December 31, 2019; and (d) requests for
approval of time-of-use rate schedules to implement this commitment will be
filed at least six months prior to meter capability and no later than July 1,
2019.
7. [new] NextEra Energy commits to continue to support the Hawaiian Electric
Companies’ work in the area of green technology innovation, including
collaborating with DBEDT, Energy Excelerator and the University of Hawai‘i
system.
Customer Benefit and Rate Commitments
Commitments 8, 9, 10, 11, 13, and 14, are subject to the Commission’s approval of all
Rate Commitments.
8. [original] NextEra Energy commits to a four-year moratorium on its ability to file a
general base rate case, subject to the conditions outlined in Applicants Exhibit-46
to the Responsive Testimony of witness Gleason. The Hawaiian Electric
Companies may seek a general base rate increase only if (a) any of the Hawaiian
Electric Companies suffer financial distress due to the occurrence of an
extraordinary expense (e.g., an expense caused by a tropical storm, an act of
terrorism, etc.), or (b) circumstances otherwise arise that create a compelling
financial need for a base rate increase, consistent with Commission precedent.
9. [original] NextEra Energy will forego recovery of any incremental base expenses
through the O&M RAM during the four-year general base rate case moratorium
period. [new/modified] In lieu of the original O&M RAM moratorium, NextEra
Energy commits to reduce the RAM by $60 million in total over the four-year
base rate moratorium as follows:
2016 2017 2018 2019 TOTAL
Hawaiian Electric $4M $8M $12M $16M $40M
Hawai‘i Electric Light $1M $2M $3M $4M $10M
Maui Electric $1M $2M $3M $4M $10M
Total $6M $12M $18M $24M $60M
10. [new] NextEra Energy commits to reflect 100% of all net non-fuel O&M
savings achieved by each of the Hawaiian Electric Companies in the first test
period following the proposed general base rate case moratorium for the
benefit of the Hawaiian Electric Companies’ customers, and that the non-fuel
O&M to be included in revenue requirements in each of the Hawaiian Electric
Companies’ first general base rate case following the four-year general base
rate case moratorium will be no higher than the non-fuel O&M in calendar

3. Applicants Exhibit-37
Docket No. 2015-0022
Page 3 of 12
year 2014, adjusted for inflation. The calendar year 2014 non-fuel O&M is
reflected in Applicants Exhibit-80 to the Responsive Testimony of Witness
Sekimura.
11. [original] NextEra Energy supports the development of an incentive-based
ratemaking construct that could apply after the base rate moratorium ends.
12. [new] NextEra Energy supports the immediate adoption upon closing of the
fuel cost incentive mechanism reflected in Applicants Exhibit-45 to the
Responsive Testimony of witness Gleason, which includes penalties and
incentives of up to $10 million across all three of the Hawaiian Electric
Companies based upon fuel cost performance.
13. [new] The modified decoupling mechanism approved by the Commission in
Order No. 32735 shall remain in effect during the general base rate case
moratorium period, subject to the conditions outlined in Applicants Exhibit-
46 to the Responsive Testimony of witness Gleason and any Commission-
authorized changes.
14. [new] NextEra Energy will establish a funding mechanism and pre-fund $2.5
million per year for each year of the four-year general base rate case
moratorium to be used for appropriate purposes in the public interest, at the
Commission’s discretion and direction, as permitted by law.
Charitable Contributions and Corporate Responsibility Commitments
15. [original] NextEra Energy commits to maintain Hawaiian Electric Industries, Inc.’s
(“HEI’s”) current level of corporate giving in HEI’s communities.
16. [new/modified] NextEra Energy commits to corporate giving of at least $2.2
million annually in real dollars for a minimum of 10 years post-closing,
consistent with HEI’s level of corporate giving in 2014.
17. [new/modified] The HEI Charitable Foundation will be renamed Hawaiian
Electric Charitable Foundation (“HECF”) and its directors and officers will be
comprised of members of the local advisory board and officers of the
Hawaiian Electric Companies.
18. [new] In addition to NextEra Energy’s annual overall Corporate
Responsibility Report, NextEra Energy will prepare an annual Hawai‘i-
specific Corporate Responsibility Report, which will describe the activities of
NextEra Energy subsidiaries and affiliates doing business in Hawai‘i, with
separate sections for each of the Hawaiian Islands on which NextEra Energy
subsidiaries and affiliates conducted business in the year covered by the
report. The Hawai‘i Corporate Responsibility Report will include a detailed
description with relevant metrics addressing the progress NextEra Energy is
making in operating as a Hawai‘i business, including the Hawaiian concepts

4. Applicants Exhibit-37
Docket No. 2015-0022
Page 4 of 12
of Kuleana, Malama Pono and Aloha, and will include information on its
annual charitable contributions. NextEra Energy commits to work with the
Commission, the Consumer Advocate and the Office of Planning to develop
metrics and assessment tools specifically for use within its Hawai‘i
Corporate Responsibility Report. The first annual Hawai‘i specific Corporate
Responsibility Report will be prepared following the completion of the first
calendar year after the year in which the merger closes.
19. [new] NextEra Energy commits to work with the Commission, Consumer
Advocate and other relevant government agencies to discuss the
development of specific programs that will directly benefit low-income
customers, including the potential use of the funds described in
Commitment 14 above to pay for such programs.
Local Management and Governance Commitments
20. [original] The Hawaiian Electric Companies will continue to be headquartered in
Honolulu and will continue to operate under their respective current company
names and from their existing operating locations.
21. [original] The President and management team of the Hawaiian Electric
Companies will be based in Honolulu.
22. [original] The President and CEO of the Hawaiian Electric Companies will report
directly to the Chairman and CEO of NextEra Energy.
23. [new] Local Hawaiian Electric Companies’ management will maintain
responsibility for preparation of the Hawaiian Electric Companies’ capital
and operating budgets, which will be subject to the review of the NextEra
Energy Chairman and CEO, and approval of the NextEra Energy Board of
Directors, as is the case with NextEra Energy’s other two principal
businesses, Florida Power & Light Company (“FPL”) and NextEra Energy
Resources, LLC (“NEER”).
24. [new] Consistent with the $20 million authority provided to the President and
CEO of each of NextEra Energy’s other two principal businesses, FPL and
NEER, the President and CEO of the Hawaiian Electric Companies will have a
commitment authority of up to $20 million for any individual capital
investment within an approved overall budget.
25. [original] In lieu of the existing Hawaiian Electric Board of Directors, NextEra
Energy will establish a local, independent Hawaiian Electric advisory board that will
meet quarterly to provide input on matters of local and community interest. This
board will have six to twelve members, all of whom will have substantial ties to the
Hawai‘i community and will be compensated for their service.

5. Applicants Exhibit-37
Docket No. 2015-0022
Page 5 of 12
26. [new/modified] The local, independent Hawaiian Electric Companies advisory
board will include members from each of the counties of O‘ahu, Maui and
Hawai‘i.
27. [new] Local management of the Hawaiian Electric Companies will remain the
primary point of contact in regulatory matters.
28. [new] The President and CEO of the Hawaiian Electric Companies will meet
with the Commission and the Consumer Advocate at least on a quarterly
basis.
29. [new] The President and CEO of the Hawaiian Electric Companies will hold
an annual community meeting on each island served by the Companies, with
two meetings on the Island of Hawai‘i.
30. [new] The Chairman and CEO of NextEra Energy will travel to Hawai‘i for
meetings with the Commissioners, Consumer Advocate and the local,
independent advisory board at least once annually. Any costs incurred for
the travel of the Chairman and CEO of NextEra Energy will not be included in
the Hawaiian Electric Companies’ rates.
31. [new] NextEra Energy is not entering into this transaction with the intention
of selling Hawaiian Electric Holdings or its subsidiaries. NextEra Energy
commits that it will not sell Hawaiian Electric Holdings or its electric utility
subsidiaries for a period of at least 10 years post-closing, and any
subsequent sale will be subject to the review and approval of the
Commission as provided by law.
Employee-Specific Commitments
32. [original] For at least two years post-closing, Applicants will not implement
involuntary workforce reductions of employees of the Hawaiian Electric
Companies.
33. [original] All existing collective bargaining agreements will be honored.
34. [original] For at least two years post-closing, each active non-bargaining unit
employee of the Hawaiian Electric Companies will be provided base salaries or
wage rates that are no less favorable than those provided immediately prior to the
change of control.
35. [original] For at least two years post-closing, non-bargaining unit employees will be
offered aggregate incentive compensation opportunities and employee benefits
that are substantially comparable to those provided immediately prior to the
change of control.

6. Applicants Exhibit-37
Docket No. 2015-0022
Page 6 of 12
36. [original] Hawaiian Electric Companies employees will be credited for years of
service with the Hawaiian Electric Companies when under HEI control when
calculating future benefits.
37. [new] NextEra Energy commits to make available incremental internship
programs and recruiting opportunities above those already made available
by the Hawaiian Electric Companies, which will continue. This includes
adding the University of Hawai‘i system to the list of colleges and
universities at which NextEra Energy recruits candidates for employment
opportunities nationwide.
Reliability and Operational Performance Commitments
38. [original] NextEra Energy commits to make reasonable improvements in service
reliability with reference to a baseline year established post-closing.
39. [original] NextEra Energy commits to support the ongoing efforts of the Reliability
Standards Working Group and its subgroups.
40. [new/modified] No later than 12 months post-closing, NextEra Energy will file
a plan with the Commission to improve the Hawaiian Electric Companies’
SAIDI and SAIFI by 20% (calculated consistent with the IEEE 2.5 beta
methodology and excluding generation outages) with reference to an
historical three-year baseline (also calculated consistent with the IEEE 2.5
beta methodology and excluding generation outages). The plan will include
sufficient supporting detail and analyses, other industry-recognized
reliability indices that may also be appropriate to measure improved
reliability performance and associated resources and costs to achieve such
improvements.
41. [new/modified] NextEra Energy will continue to make annual filings providing
the Hawaiian Electric Companies’ actual reliability performance results for
the prior year and will institute in the filings the addition of plans for the
upcoming year.
42. [new] NextEra Energy commits to file updated emergency response plans
with the Commission within 12 months post-closing. In developing updated
emergency response plans, NextEra Energy will coordinate with key
customers (e.g., military, HBWS) and take into consideration other critical
community needs, such as fuels, water, transportation and communications.
Commitments to Safeguard Competition in Hawaii’s Competitive Energy Markets
43. [original] To the extent NextEra Energy’s subsidiaries continue to participate in
Hawaii’s competitive power generation markets, or choose to participate in any
future competitive transmission solicitation, such participation would be subject to
the applicable rules and regulations of the Commission.

7. Applicants Exhibit-37
Docket No. 2015-0022
Page 7 of 12
44. [new] Provided NextEra Energy and the Hawaiian Electric Companies are
permitted to continue to participate in competitive solicitations for utility
generation projects, NextEra Energy commits that no other NextEra Energy
subsidiary or affiliate will participate in any competitive solicitation that any
of the Hawaiian Electric Companies participate in, i.e., non-utility subsidiaries
and affiliates will not participate in the same competitive solicitations as any
of the Hawaiian Electric Companies’ operating utilities; only one or the other
entity may participate in the same competitive solicitation.
45. [new] The Hawaiian Electric Companies will not seek any exemption or waiver
from the Competitive Bidding Framework for agreements between the
Hawaiian Electric Companies and any other NextEra Energy subsidiary or
affiliate.
46. [new] Within 90 days following the closing of the transaction, NextEra Energy
will provide the Consumer Advocate a draft Code of Conduct governing
communications between representatives of NextEra Energy and the
Hawaiian Electric Companies involved in preparing a utility or affiliate
generation build option and those representatives involved in evaluating
which option should be selected. The draft Code of Conduct will include the
guidelines on restricting access to non-public competitive supplier
information and confidential utility information by NEER personnel involved
in the development of non-utility competitive bidding generation options in
Hawai‘i included in Applicants Exhibit-61 to the Responsive Testimony of
witness Oliver. NextEra Energy commits to collaborate with the Consumer
Advocate to review, discuss and revise the draft Code of Conduct with a goal
of filing a joint communication protocol recommendation with the
Commission for its consideration and approval.
Affiliate Transaction and Cost Commitments
47. [original] NextEra Energy will continue the practice of providing the Commission
with reports concerning intercompany transactions.
48. [original] The Commission will have access to the books and records of affiliated
entities providing services chargeable to the Hawaiian Electric Companies as
necessary for determining that charges are appropriately billed in accordance with
service level agreements and cost allocation manual requirements.
49. [new/modified] NextEra Energy commits that the Hawaiian Electric
Companies’ reports concerning intercompany transactions will disclose the
nature of the transactions and the annual value of transactions occurring
between each Hawaiian Electric Company and each of NextEra Energy and
its other affiliates or subsidiaries.
50. [new] Within 90 days following the closing of the transaction, the Hawaiian
Electric Companies will provide the Consumer Advocate a draft Hawai‘i-

8. Applicants Exhibit-37
Docket No. 2015-0022
Page 8 of 12
specific cost allocation manual (“CAM”) governing charges by the Hawaiian
Electric Companies to NextEra Energy, containing detailed affiliate
transaction policies, practices and guidelines (including direct charging of
corporate costs when possible, allocation of common or shared costs using
direct measures of cost causation when identifiable, and allocation of shared
services costs using general allocation techniques as necessary among all
benefiting affiliated entities) designed to protect against cross-subsidization.
NextEra Energy commits to collaborate with the Consumer Advocate to
review, discuss and revise the draft CAM with a goal of filing a joint CAM
recommendation with the Commission for its consideration. Pending
Commission review, NextEra Energy will apply the FPL CAM methodologies
and approaches for all transactions between NextEra Energy affiliates and
the Hawaiian Electric Companies. The FPL CAM, which is Applicants
Exhibit-53 to the Responsive Testimony of witness Reed, will apply with
respect to charges to the Hawaiian Electric Companies from NextEra Energy
and its affiliates and subsidiaries.
51. [new] In all general rate cases filed following the general base rate case
moratorium in Commitment 8, the respective filing of each of the Hawaiian
Electric Companies shall include direct testimony and exhibits
demonstrating the reasonableness of its affiliate transactions. The Hawaiian
Electric Companies commit to meet with the Commission and Consumer
Advocate in advance of the first post-merger general base rate case filing to
outline the minimum filing requirements for future rate cases as it relates to
affiliate transactions and commits that any updates to the CAM will be
included for review as part of future rate case filings.
52. [new] In determining annual utility earnings for earnings sharing calculations
within the decoupling mechanism in all periods prior to the completion of
each utility’s next general rate case, NextEra Energy commits that the
amount of shared services costs for such services provided by FPL or any
other NextEra Energy affiliate that are included in the calculation shall be
equal to the actual costs charged or allocated to the Hawaiian Electric
Companies by HEI for its comparable shared services costs in calendar year
2014, escalated by GDPPI thereafter. Please refer to Applicants Exhibit-81 to
the Responsive Testimony of witness Sekimura for examples of the shared
services to which this commitment applies and for the 2014 amount of
shared services charged or allocated by HEI in calendar year 2014.

9. Applicants Exhibit-37
Docket No. 2015-0022
Page 9 of 12
Capitalization and Financing Commitments
53. [original] Hawaiian Electric Holdings (which will become the parent company of the
Hawaiian Electric Companies following the Proposed Transaction) and the
Hawaiian Electric Companies will not make loans to NextEra Energy or any of
NextEra Energy’s subsidiaries without prior Commission approval.
54. [original] Hawaiian Electric Holdings and the Hawaiian Electric Companies will not
assume any obligation or liability as guarantor, endorser, surety, or otherwise for
NextEra Energy or NextEra Energy’s non-utility subsidiaries.
55. [original] NextEra Energy will not pledge any assets of the business of the
Hawaiian Electric Companies as backing for any securities that NextEra Energy or
NextEra Energy’s non-utility subsidiaries may issue.
56. [original] The Hawaiian Electric Companies will maintain their debt separate and
apart from NextEra Energy and NextEra Energy’s affiliates and non-utility
subsidiaries.
57. [original] The Hawaiian Electric Companies will maintain their own credit ratings for
outstanding long-term debt from at least two of the three major credit rating
agencies.
58. [original] The Commission will continue to have full authority over the Hawaiian
Electric Companies’ issuance of securities.
59. [original] NextEra Energy will restrict payment of dividends in the event the
consolidated common stock equity of the Hawaiian Electric Companies falls below
35% of the total capitalization of the Hawaiian Electric Companies (excluding short-
term borrowings).
60. [new] NextEra Energy commits that there will be no cross-collateralization or
cross-financial guarantees between the Hawaiian Electric Companies and
NextEra Energy and its subsidiaries or affiliates, no money pools or shared
credit facilities, and no pledging of Hawaiian Electric Company utility assets
for any obligation of another affiliate.
61. [new] NextEra Energy commits that the Hawaiian Electric Companies and
their operating utilities will not incur or assume any debt, including the
provision of guarantees or collateral support, related to this merger or any
future NextEra Energy acquisition.
62. [new] NextEra Energy commits to provide notice to the Commission within
10 days after a Form 8-K is filed with the SEC that indicates that the amount
of goodwill on NextEra Energy’s books has been impaired. As addressed in
Commitment 65, rate recovery of any goodwill premium will not be sought.

10. Applicants Exhibit-37
Docket No. 2015-0022
Page 10 of 12
63. [new] NextEra Energy commits to provide notice to the Commission if
NextEra Energy or any of the Hawaiian Electric Companies are put on
negative outlook or are downgraded below current bond ratings by any of
the three major credit rating agencies (Standard & Poor’s, Moody’s Investors
Service, or Fitch Ratings).
64. [new] The merger with NextEra Energy will have no effect on the standalone
regulatory tax treatment of the Hawaiian Electric Companies. Note that the
regulatory treatment of the standalone deferred tax asset related to net
operating loss carryforwards is an open issue still to be resolved in a future
general rate case. NextEra Energy will indemnify the Hawaiian Electric
Companies for any liability for federal, state or local income taxes (including
interest and penalties related thereto, if any) in excess of the Hawaiian
Electric Companies' standalone liability for federal, state or local income
taxes (including interest and penalties related thereto, if any) for any period
in which the Hawaiian Electric Companies are included in a consolidated
income tax return with NextEra Energy.
Accounting and Ratemaking Commitments
65. [original] NextEra Energy will not seek rate recovery of any goodwill amortization,
acquisition premium costs, or goodwill impairment charges incurred as a result of
the change of control.
66. [original] NextEra Energy will not seek rate recovery of transaction or transition
costs incurred as a result of the change of control. See Exhibit 84 to the
Responsive Testimony of Witness Sekimura for definitions and a discussion of the
accounting treatment for various categories of costs.
67. [new] Transaction-related fees and expenses related to seeking and
receiving shareholder and regulatory approvals, the change of control,
shareholder litigation costs, and transition expenses shall be recorded in
non-operating expense accounts that are not reflected in utility operating
income accounts and such amounts shall be excluded from any base rate
increase requests and in determining annual utility earnings for earnings
sharing calculations within the decoupling mechanism.
68. [new] The Transaction will be a tax-free event and will not result in any
taxable gains or losses for the Hawaiian Electric Companies.
69. [new] Internal Revenue Code § 338(h)(10) election will be made in regards to
the merger. Unless expressly and specifically authorized by the Commission
after notice and hearing, the proposed acquisition and merger shall have no
impact on the Hawaiian Electric Companies’ pre-merger ADIT balances for
regulatory purposes.

11. Applicants Exhibit-37
Docket No. 2015-0022
Page 11 of 12
70. [new] NextEra Energy will not elect to apply pushdown accounting for the
merger, i.e., the merger will have no impact on Hawaiian Electric Companies’
assets being acquired; and goodwill will not be allocated to, or recognized
within, the Hawaiian Electric Companies’ balance sheet.
71. [new] To the extent a goodwill impairment charge is required at the NextEra
Energy, Inc. consolidated financial statement level, such adjustments will not
impact the Hawaiian Electric Companies’ rates, including its future capital
structure ratios, regulated rate base or operating income.
72. [new] Under no circumstances will the cost of programs related to change in
control agreements in place for certain HEI executives be included in
Hawaiian Electric Companies’ rates.
73. [new] Merger accounting shall be rate-neutral for customers of the Hawaiian
Electric Companies. No post-merger integration of accounting methods
shall result in higher rates charged to customers of the Hawaiian Electric
Companies.
74. [new] Within 135 days following completion of accounting for the merger,
NextEra Energy will file with the Commission all journal entries resulting
from the merger.
75. [new] The Hawaiian Electric Companies will continue to make ratemaking
adjustments to remove incentive compensation costs until such costs are
approved for recovery in rates and, during the general base rate case
moratorium, such amounts shall be excluded in determining annual utility
earnings for earnings sharing calculations within the decoupling
mechanism.
76. [new] The Hawaiian Electric Companies commit to make ratemaking
adjustments to remove costs for company-owned or leased aircraft until
such costs are approved for recovery in rates and that, during the general
base case rate moratorium, such amounts shall be excluded in determining
annual utility earnings for earnings sharing calculations within the
decoupling mechanism.
77. [new] The Hawaiian Electric Companies commit to make ratemaking
adjustments to remove costs for compensation of “Named Executive
Officers” of NextEra Energy, Inc. until such costs are approved for recovery
in rates and that, during the base rate moratorium, such amounts shall be
excluded in determining annual utility earnings for earnings sharing
calculations within the decoupling mechanism.
78. [new] In determining annual utility earnings for earnings sharing calculations
within the decoupling mechanism in all periods prior to the completion of
each utility’s next general rate case, NextEra Energy commits that the

12. Applicants Exhibit-37
Docket No. 2015-0022
Page 12 of 12
amount of commercial insurance services or coverage charged or allocated
by the NextEra Energy Captive affiliate shall be equal to the actual costs
incurred by the Hawaiian Electric Companies in calendar year 2014,
escalated by GDPPI thereafter. Applicants Exhibit-82 to the Responsive
Testimony of witness Sekimura provides the actual costs incurred in
calendar year 2014.
79. [new] Applicants commit to make ratemaking adjustments to remove costs
for charitable contributions, image or promotional advertising and marketing
from any NextEra Energy affiliated company except to the extent any such
amounts are approved for recovery in rates, and that, during the base rate
moratorium, such amounts shall be excluded in determining annual utility
earnings for earnings sharing calculations within the decoupling
mechanism. These ratemaking adjustments and exclusions from earnings
sharing calculations shall not apply to informational or goodwill/institutional
advertising incurred by the Hawaiian Electric Companies, as these expenses
have been approved for recovery in rates.
80. [new] Applicants commit to track merger savings and costs and account for
such savings and costs in the next general base rate proceeding for each of
the Hawaiian Electric Companies.
Commitments Related to Commission Jurisdiction
81. [original] The Hawaiian Electric Companies will continue to abide by and comply
with all Commission decisions, orders, and rules applicable to the Hawaiian
Electric Companies, as authorized by law.
82. [original] Hawaiian Electric Holdings (which will be the parent company of the
Hawaiian Electric Companies following the change of control) will continue to abide
by and comply with all Commission decisions, orders, and rules that remain
applicable to HEI following consummation of the change of control, as authorized
by law.
83. [original] NextEra Energy commits to abide by the provisions of the 1982
Agreement as modified and reflected in Exhibit 86 to the Responsive Testimony of
Witness Sekimura to these Transaction Commitments.
84. [original] To the extent NextEra Energy desires to form any new non-utility
subsidiaries under Hawaiian Electric Holdings or the Hawaiian Electric Companies
at any point in the future, NextEra Energy will seek Commission approval prior to
doing so.
85. [new] Hawaiian Electric Holdings will not hold foreign utilities.