Hydro One, Avista to ask U.S. regulator to reconsider order against acquisition
TORONTO -
Hydro One Ltd. and Avista Corp. say they plan to formally request that the Washington Utilities and Transportation Commission reconsider its order last week denying approval of the $6.7-billion takeover of the U.S.-based energy utility.
The two companies say they will file a petition no later than Dec. 17 but haven't indicated on what grounds they are making the request.
Under Washington State law, the UTC has 20 days to consider the petition, otherwise it is deemed to be denied.
If it reconsiders its decision, the UTC can modify the prior order or take any actions it deems appropriate including extending deliberations.
Washington State regulators said they would not allow Ontario's largest utility to buy Avista for fear the provincial government, which owns 47 per cent of Hydro One's shares, might meddle in Avista's operations.
Hydro One's shares have risen since the order because the deal, announced in July 2017, would have eroded earnings per share and weakened Hydro One's balance sheet, according to analysts.
Related News
Enel kicks off 90MW Spanish wind build
MADRID - Enel Green Power Espana has started constructing three wind farms in Aragon, north-east Spain, which are due online by the end of the year.
The projects, all situated in the Teruel province, are worth a total investment of €88 million.
The biggest of the facilities, Sierra Costera I, will have a 50MW and will feature 14 turbines.
The wind farm is spread across the municipalities of Mezquita de Jarque, Fuentes Calientes, Canada Vellida and Rillo.
The Allueva wind facility will feature seven turbines and will exceed 25MW.
Sierra Pelarda, in Fonfria, will have four turbines and a capacity of 15MW.
The projects bring the…
