Oregon regulators halt review of Avista sale

avista

Oregon regulators have halted their review of Avista Corporation’s proposed $5.3 billion sale to a Canadian company 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. Idaho regulators followed suit two weeks ago, saying the deal would violate state law.

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

For the sale to go through, it must be approved by regulators of the five the states in which Avista operates. The other two states – Montana and Alaska – approved the sale. (Spokesman-Review)

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