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Thursday, December 13, 2018  Spokane, Washington  Est. May 19, 1883
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News >  Business

Regulators to conduct hearing Tuesday on proposed Avista sale

UPDATED: Tue., Oct. 16, 2018, 7:11 p.m.

 (Colin Mulvany / The Spokesman-Review)
(Colin Mulvany / The Spokesman-Review)

Washington regulators have scheduled a Tuesday hearing on Avista Corp.’s proposed sale to Hydro One Ltd., of Toronto.

The 9:30 a.m. hearing in Olympia will be livestreamed and can be viewed at www.tvw.org/watch/?eventID=2018101014.

During the hearing, Avista and Hydro One will present updates to the proposed settlement for operations after the $5.3 billion sale and answer questions from the state Utilities and Transportation Commission. An earlier hearing was in May.

The three-member commission scheduled a second hearing after a political shakeup at Hydro One in July led to the resignation of the board of directors and the chief executive’s retirement.

After the sale, Avista would become a subsidiary of Hydro One. Avista would maintain its existing corporate headquarters in Spokane and would continue to operate in Washington with the same name and employees.

Avista said the proposed sale’s settlement offers financial protections for the utility’s customers, provides more than $30 million in rate credits to Washington ratepayers over five years and includes more than $11 million for low-income programs. The settlement also accelerates the depreciation of the Colstrip power plant in Montana. Avista is a part owner of the coal-fired generating station.

The commission has received 411 public comments to date on the proposed merger with Hydro One – 328 opposed, 13 in favor and 70 undecided.

Customers who want to comment on the proposed plans can submit comments online at www.utc.wa.gov/comments; to P.O. Box 47250, Olympia, WA., 98504; email comments@utc.wa.gov; or call toll-free 1-888-333-9882.


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