HI SB137

Requires the Public Utilities Commission to consider whether approving a proposed merger or acquisition of an electric utility company would further Hawaii's renewable energy goals.

Prohibits acquiring entities from terminating, attempting to renegotiate, or unduly influencing existing power purchase agreements between electric utilities and independent power producers.

Requires acquiring entities to assume and be bound by existing collective bargaining agreements and retain all covered employees, prohibiting reductions in force except for cause.

Mandates that electric utilities soliciting bids for acquisition by investor-owned utilities must also solicit bids from non-investor-owned entities and submit acceptable alternative bids concurrently with investor-owned utility applications for Public Utilities Commission review.

Effective July 1, 3000.