Hydro One has filed applications with Washington, Idaho, Oregon, Montana, and Alaska state utility commissions and also with the US Federal Energy Regulatory Commission (FERC) regarding the acquisition of the US based energy company Avista. The US$5.3bn transaction will require approvals from the five American state utility commissions and the US Federal Communications Commission (FCC). The concerned authorities are expected to approve the transaction by mid-August 2018. Besides, the deal also needs approval by the US Committee on Foreign Investment and has to comply with the US Hart-Scott-Rodino Antitrust Improvements Act of 1976.
Hydro One is a Canadian electricity transmission and distribution provider based in Ontario. The Government of Ontario is a minority shareholder of the company with a 49.9% stake. It reports having 1.3 million customers, 30,000 km of high-voltage transmission lines and a 123,000 km primary distribution network.
Avista Corporation is a US based energy company involved in production, transmission and distribution of energy. Its subsidiary Avista Utilities provides electricity to 379,000 customers and natural gas to 342,000 customers throughout the US. The company operates 3,600 km of power transmission lines and 30,000 km of distribution lines and also owns 2,072 MW of regulated electric generation capacity.
Source: Hydro One
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