Idaho regulators said they may not be ready to make a decision by mid-December on whether or not to approve the $5.3 billion sale of Avista Corp. to Hydro One Ltd., of Toronto.
The Idaho Public Utilities Commission approved a new schedule Tuesday for deliberations. The previous schedule was disrupted by a political shakeup at Hydro One, which led to the resignation in mid-July of Hydro One’s entire board of directors and the retirement of its CEO.
Idaho’s technical hearing on the proposed sale is scheduled for Nov. 26, which allows the three-member board of commissioners to ask questions of executives from the two companies.
For the sale to go through, regulators in each state where Avista operates must decide it’s in the best interest of customers. Avista and Hydro One have asked for a decision by Dec. 14, but Idaho commissioners indicated they may need more time.
Subscribe to the Morning Review newsletter
Get the day’s top headlines delivered to your inbox every morning by subscribing to our newsletter.