Hydro One deal to buy Avista receives U.S. antitrust clearance
TORONTO -
Hydro One Ltd. says it has received antitrust clearance in the United States for its deal to acquire U.S. energy company Avista Corp.
The Ontario-based utility says the 30-day waiting period under the Hart-Scott-Rodino Antitrust Improvements Act expired Thursday night.
Hydro One announced the friendly deal to acquire Avista last summer in an agreement that valued the company at $6.7 billion.
The deal still requires several other approvals, including those from utility commissions in Washington, Idaho, Oregon, Montana and Alaska.
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The U.S. Federal Communications Commission must also sign off on the transaction and clearance is required by the Committee on Foreign Investment in the United States.
The agreement has received approval from the U.S. Federal Energy Regulatory Commission as well as Avista shareholders
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Site C mega dam billions over budget but will go ahead: B.C. premier
VANCOUVER - The cost to cancel a massive B.C. energy development project would be at least $10 billion, provincial officials revealed in an update on the future of Site C.
Thus the project will go ahead, Premier John Horgan and Energy Minister Bruce Ralston announced Friday, but with an increased budget and timeline.
Horgan and Ralston spoke at a news conference in Victoria about the findings of a status report into the hydroelectric dam project in northeastern B.C.
Peter Milburn, former deputy finance minister, finished the report earlier this year, but the findings were not initially made public.
$10B more than initial estimate
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