It was perhaps only a matter of time before Avista Corp. agreed to sell to a neighbor from the north.

Large Canadian power companies have been snapping up smaller American ones for several years, paying tens of billions of dollars to expand their geographic footprint in a country that offers lighter regulations and higher returns on investment.

Toronto-based Hydro One’s $5.3 billion pending purchase of Avista, announced Wednesday, follows major acquisitions by Canadian companies Enbridge Inc., TransCanada Corp., Fortis Inc., and Algonquin Power & Utilities Corp/Chad Sokol, SR. More here.