The Canadian electricity transmission and distribution provider Hydro One and its buyout target, the US energy group Avista Corporation, have mutually agreed to call off their previously announced merger agreement. This announcement follows the recent orders issued by the Washington Utilities and Transportation Commission (UTC) and the Idaho Public Utilities Commission (PUC), which both denied approval of the proposed transaction in December 2018 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. Avista Corporation owns 2,072 MW of regulated power generation capacity and operates 3,600 km of power transmission lines and 30,000 km of distribution lines.