Avista extends date for sale to Hydro One

Avista Corp. is extending the deadline to complete its $5.3 billion sale to Hydro One Ltd. of Toronto until March 29, although both companies expect the sale to close in late December.

The sale closure was originally scheduled for Sept. 30, but either company had the ability to extend the date by six months.

Regulators in Washington, Idaho and Oregon still must decide whether the sale is in the best interest of Avista’s customers, which is a requirement for the sale to go through.

Public utilities commissions in Washington and Oregon expect to announce their decisions by Dec. 14, but Idaho has not set a decision date.