Idaho regulators have rejected Avista Corporation’s proposed sale to Hydro One of Toronto.
Thursday’s action by the Idaho Public Utilities Commission follows a similar move last month by Washington regulators, who also denied the sale of the Spokane-based utility.
The Idaho PUC said the sale is prohibited by state law, which prevents the transfer of assets from a regulated electric utility to an entity that is “owned or controlled” by any other state.
The commission pointed to the province of Ontario’s ownership stake and influence on Hydro One. Although Hydro One is an investor-owned utility, the province is its largest shareholder with 47 percent of outstanding shares, giving it significant control.
Avista and Hydro One have until January 24th to ask the commission to reconsider the decision.
All five states in which Avista operates must approve the sale for it to go through. Montana and Alaska have said yes, Washington and Idaho are no’s, and Oregon has yet to issue a decision. (AP)
