Federal Government Allocates $95 Million to Support Hawaii’s Electric Grid

One sentence summary – President Joe Biden has announced that the federal government will provide $95 million to support Hawaii’s electric grid in the aftermath of deadly wildfires, with the aim of ensuring electricity reaches homes, hospitals, and water stations during intense storms by bolstering the resilience of the infrastructure through measures such as burying power lines, replacing old electrical poles, and clearing overgrown brush that could pose a fire hazard.

At a glance

  • President Joe Biden announces $95 million in federal funding for Hawaii’s electric grid
  • Funding aims to ensure electricity reaches homes, hospitals, and water stations during storms
  • Funds will be used to bolster electric infrastructure, including burying power lines and replacing old poles
  • Hawaiian Electric’s credit rating downgraded due to lawsuits alleging its practices contributed to wildfires
  • $400 million in federal funds already dedicated to debris removal and restoration efforts on Maui

The details

President Joe Biden has announced that the federal government will allocate $95 million to support Hawaii’s electric grid.

This announcement was made at a White House event on disaster recovery.

The funding comes in the aftermath of deadly wildfires that have ravaged the state.

The aim of the funding is to ensure that electricity can reach homes, hospitals, and water stations even during intense storms.

The allocated funds will be used to bolster the resilience of the electric infrastructure.

This includes the burial of power lines to protect them from potential damage.

The replacement of old electrical poles with more robust ones is also part of the plan.

Additionally, the clearing of overgrown brush that could pose a fire hazard will be undertaken.

These measures are designed to prevent future wildfires and enhance the reliability of the electric grid.

Hawaiian Electric, the main electric utility in Hawaii, has been facing lawsuits.

These lawsuits allege that the utility’s practices contributed to the deadly fires.

In response to these allegations, credit rating agencies Fitch, Moody’s, and S&P have downgraded Hawaiian Electric’s credit rating.

The utility’s credit rating has been downgraded to junk status due to potential liability for the wildfires.

These downgrades could have significant implications for Hawaiian Electric’s financial standing.

They could also impact the utility’s ability to secure future investments.

The wildfires on Maui were the deadliest in the United States in over a century.

These fires caused immense economic losses for the affected communities.

President Biden reassured residents of Maui that the federal government would provide ongoing support throughout the recovery process.

In addition to the $95 million for the electric grid, $400 million in federal funds have already been dedicated to debris removal on the island.

This funding will aid in the cleanup and restoration efforts following the devastating wildfires.

President Biden visited Hawaii with the first lady to assess the damage and meet with survivors.

During his visit, he also pledged support to the governors of Florida, Georgia, North Carolina, and South Carolina in the aftermath of Hurricane Idalia.

With the federal government’s financial backing, Hawaii’s electric grid will undergo significant improvements.

These improvements will enhance its resilience against future disasters.

The allocated funds will address immediate recovery needs and facilitate long-term mitigation efforts.

This will safeguard the community’s access to essential services, such as electricity, during intense storms.

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cnbc.com
– The federal government will provide $95 million to support Hawaii’s electric grid after deadly wildfires.
– President Joe Biden announced the funding at a White House event on disaster recovery.
The money will be used to ensure electricity can reach homes, hospitals, and water stations during intense storms.
The funding will also allow for the burial of power lines, replacement of old electrical poles, and clearing of overgrown brush.
– Hawaiian Electric, the main electric utility in Hawaii, is facing lawsuits alleging its practices contributed to the deadly fires.
The fires on Maui were the deadliest U.S. wildfires in over a century, causing significant economic losses.
– Fitch, Moody’s, and S&P downgraded Hawaiian Electric’s credit rating to junk status, citing potential liability for the wildfires.
– President Biden reassured residents of Maui that the federal government would support them throughout the recovery process.
– $400 million in federal funds have already been allocated for debris removal on the island.
– President Biden visited Hawaii with the first lady to assess the damage and meet with survivors.
– President Biden also pledged support to the governors of Florida, Georgia, North Carolina, and South Carolina in the aftermath of Hurricane Idalia.

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