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Senate Republicans’ maneuver gave Gov. Jay Inslee a win just as he was announcing his run for president.
Washington regulators denied Hydro One Ltd.’s proposed purchase of Avista Corp., finding the merger does not serve the public interest.
Financial analysts say the political shakeup at Hydro One could threaten or delay Avista’s $5.3 billion sale to the Toronto-based utility.
On Nov. 21, Avista shareholders will vote on whether to approve the company’s sale to Hydro One, an Ontario utility. Most of the ballots will be cast by large, institutional investors, who will earn a tidy profit when the sale is final.
Avista Corp.’s shareholders vote next week on Hydro One’s proposed $5.3 billion purchase of the Spokane utility. Scott Morris, Avista’s chairman and CEO, said the company has found the right partner in the Canadian utility and its CEO Mayo Schmidt.
The proposed sale of Avista Corp. to Hydro One for $5.3 billion would chart new territory for customers of the Spokane-based utility. Next week’s shareholder vote is a major milestone in the sale process. Here are some answers to questions about the transaction.
As spring ripened into summer, Avista Corp. entertained merger/purchase proposals from five prospective suitors. In recently released documents, the utility revealed the corporate courtship that led to its proposed $5.3 billion sale to Hydro One of Toronto.
Avista’s sale is a weighty decision, CEO Scott Morris said in a recent interview, but one he thinks history will look favorably on.
With Avista Corp. poised to be acquired by Hydro One of Ontario in a $5.3 billion sale next year, the Spokane-based utility’s partial ownership in a Montana coal plant has come under scrutiny in Canada. Hydro One’s largest shareholder is the government of Ontario, which phased out coal-fired electricity in the province in 2014.
Remember the Washington Water Power Co.? It’s still here, but as Avista after a 1999 rebranding that confused and irked a community that had grown up side-by-side with its utility for more than a century. Love it or hate it, WWP was ours.
Greetings, Yankee ratepayers! Welcome to our first installment of Ask Hydro One, formerly known as Ask Avista.
Things to know about the proposed Avista sale: Scott Morris’ stock is worth about $10 million under this deal. Avista’s sales price has caused a stir in Canada, where Hydro One customers worry about rate increases. Washington regulators say Avista ratepayers must receive a benefit for the sale to win state approval.
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.
For more than a century, Avista and Washington Water Power Co. contributed leadership and charitable support to the Spokane area’s economic development and civic betterment initiatives.
City, county and state elected officials said Wednesday they were heartened by the utility’s public message following the announced sale that it would maintain its commitment to partnerships in and around Spokane.
Avista is being sold for $5.3 billion to a Canadian company called Hydro One, the companies announced Wednesday.
Avista Corp. is being sold for $5.3 billion to a Canadian company called Hydro One, the companies said today. Take a look back at Avista's history in photos, when the company started out as Washington Water Power.