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HAWAIIAN ELECTRIC INDUSTRIES INC. UTILITY SUBSIDIARY FILES 1994 RATE CASE

 HONOLULU, July 27 /PRNewswire/ -- Hawaiian Electric Industries Inc. (HEI) (NYSE: HE) today reported that its electric utility subsidiary serving the island of Oahu has filed a request with the Hawaii Public Utilities Commission (PUC) for a 9.4-percent increase, or $62 million, over present rates.
 The increase requested by Hawaiian Electric Co. (HECO) is based on a 1994 calendar test year and requests a 12.6-percent return on average common equity. Revenue from the proposed increase would be used to fund major transmission and distribution projects on Oahu, including an important transmission corridor to connect power plants on the island's west side with customers throughout Oahu.
 "These investments are crucial to ensuring reliable service for our customers," said Harwood D. Williamson, HECO president and chief executive officer.
 In other developments, HECO repeated its intent to seek an additional rate increase in 1995. In May, the utility asked for permission to file one request to address the added expenses in 1994 and 1995. The commission said HECO must file separate cases for each year. Details of the 1995 case are being developed and will be filed later.
 The HEI electric utility subsidiary that serves the Big Island of Hawaii also notified the PUC today that within the next 60 days it intends to file a rate increase request based on a two-year 1994-1995 test year. Other details are being developed.
 Hawaiian Electric Industries is a diversified electric utility holding company that delivers essential services to the people of Hawaii through its utility, savings bank, maritime freight transportation and real estate development subsidiaries.
 -0- 7/27/93
 /CONTACT: Constance H. Lau, treasurer, 808-543-7384, or fax, 808-543-7966, or Gary S. Sharpe, director-Investor Relations, 808-543-7385, both of Hawaiian Electric Industries/
 (HE)


CO: Hawaiian Electric Industries Inc.; Hawaii Public Utilities
 Commission; Hawaiian Electric Co. ST: Hawaii IN: UTI SU:


SW -- NYON1 -- 6034 07/27/93 08:04 EDT
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Date:Jul 27, 1993
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