Oregon regulators halt review of Avista sale

Oregon regulators have halted their review of Avista Corp.’s proposed $5.3 billion sale to Hydro One Ltd., after the transaction was denied in Washington and Idaho.

In a Tuesday order, the Oregon Public Utility Commission said its sale deliberations will remain on hold unless Avista and Toronto-based Hydro One appeal the decisions in Washington and Idaho.

The Washington Utilities and Transportation Commission acted to block the sale in December, determining it wasn’t in the public’s best interest. The Idaho Public Utilities Commission denied the sale Jan. 3, saying it would violate state law.

Avista and Hydro One asked for a reconsideration in Washington, which the Utilities and Transportation Commission denied. However, Avista could still seek a judicial review of that decision.

For the sale to go through, it must be approved by regulators in the states where Avista has operations.