Idaho: Merger Plans Announced

The Idaho Public Utilities Commission provided notice that Avista Corporation has requested approval of a proposed $5.3 billion merger with Hydro One Limited. If the deal receives all requisite regulatory consents, Avista would become a wholly owned subsidiary of Hydro One, the largest electric utility in the province of Ontario, Canada.

On a combined basis, the two companies would be one of the largest regulated utilities in North America, with more than $25.4 billion in assets. The commission pointed out that the proposed transaction must comply with the federal Hart-Scott- Rodino Antitrust Improvements Act of 1976, and it also must be authorized by the Committee on Foreign Investment in the United States, an inter-agency governmental board charged with reviewing the national security implications of foreign investments in U.S. companies.

Other entities that must approve the merger include regulatory agencies in Washington, Oregon, Montana, and Alaska, as well as the Federal Energy Regulatory Commission. The Montana Public Service Commission had already called attention to the proposed merger. The two companies asked the Idaho commission to approve the merger by mid-August 2018 at the latest. (Cases AVU-E-17-09, AVU-G-17-05, Order No. 33903)