The Canadian electricity transmission and distribution provider Hydro One and its buyout target, the US energy group Avista Corporation have announced plans to file a petition, asking the Washington Utilities and Transportation Commission (UTC) to reconsider its order rejecting their planned merger. Earlier in December 2018, the Washington UTC (United States) struck down Hydro One’s US$3.5bn proposed acquisition of Avista on grounds that it would not adequately protect Avista or its customers from political and financial risks.
Hydro One is a Canadian electricity transmission and distribution provider based in Ontario, delivering power to 1.3 million customers through 30,000 km of high-voltage transmission lines and a 123,000 km primary distribution network while Avista Corporation owns 2,072 MW of regulated electric generation capacity and operates 3,600 km of power transmission lines and 30,000 km of distribution lines. The merger was signed in July 2017 and the companies applied to the US Federal Energy Regulatory Commission (FERC) in September 2017. Once completed, the merger would form a major electricity and natural gas company with more than US$25bn in combined assets.
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