The US$5.3bn merger between the Canadian electricity transmission and distribution provider Hydro One and the US energy group Avista Corporation is moving closer towards completion as the two companies have filed an all-parties settlement agreement before the Public Utility Commission of Oregon (OPUC) in the United States. The transaction was signed in July 2017 and the application to the FERC was filed in September 2017. Once completed, the deal will form a major electricity and natural gas company with more than US$25bn in combined assets.
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 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.
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. The Government of Ontario is a minority shareholder of the company with a 49.9% stake.