Hawaiian Electric (NYSE:HE) power outages are affecting the company’s customers on the island of O’ahu.
Almost 13,000 customers were affected by these Hawaiian Electric power outages. The company has since restored service to many of them. However, there are still about 1,800 customers that don’t have power back yet. The company reports total customers of around 300,000.
Hawaiian Electric is working on restoring power to those customers. The company is using a helicopter to scout the island and come up with a plan of repair. It expects the 1,800 customers will remain without power for most of Monday.
Hawaiian Electric notes that the power outage was caused by damage to one of the main transmission lines that reaches the Hawaii Kai and East Honolulu areas. That line fell onto and damaged a second transmission line, which explains why it affected so many customers.
How the Hawaiian Electric Power Outages Affect HE Stock
Despite the massive outages announced by Hawaiian Electric, the company’s stock isn’t seeing much movement today. As of this writing, only about 342,000 shares have traded. That’s well below its daily average of roughly 2.2 million shares.
On top of that, HE stock is only down slightly as of Monday morning. This shows that investors aren’t overly worried about the company’s power troubles.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
