News Release: Proposed Merger with Hydro One
August 14, 2018
To Our Valued Community Partners,
You may have heard recent news about our proposed merger with Hydro One. Some of the information you’ve heard may have you asking questions about the status of the merger and where Avista stands on our proposed partnership with Hydro One. Whatever the case, we want to make sure you have the most current information as well as the facts about how Avista and Hydro One are moving forward.
First, we remain committed to the proposed merger and the benefits it will bring to our customers, communities, employees and shareholders.
Second, we have made significant progress in the Hydro One transaction and we are continuing to work through the approval processes. Hydro One and Avista believe that we will be able to work with the commissions, their staff members and other parties to receive the required approvals, and we anticipate the transaction closing during the fourth quarter of 2018.
As a result of the leadership changes at Hydro One, the Washington and Oregon utility commissions have requested additional regulatory process, which allowed them to extend their deadlines for a decision in the merger proceeding to mid-December 2018. The Idaho commission postponed their technical hearing in the proceeding, pending further information regarding the status of Hydro One’s leadership.
For more information, please see this fact sheet. If you have questions, please contact me directly. Thank you and please share this information with others in your network.
You may have heard recent news about our proposed merger with Hydro One. Some of the information you’ve heard may have you asking questions about the status of the merger and where Avista stands on our proposed partnership with Hydro One. Whatever the case, we want to make sure you have the most current information as well as the facts about how Avista and Hydro One are moving forward.
First, we remain committed to the proposed merger and the benefits it will bring to our customers, communities, employees and shareholders.
Second, we have made significant progress in the Hydro One transaction and we are continuing to work through the approval processes. Hydro One and Avista believe that we will be able to work with the commissions, their staff members and other parties to receive the required approvals, and we anticipate the transaction closing during the fourth quarter of 2018.
As a result of the leadership changes at Hydro One, the Washington and Oregon utility commissions have requested additional regulatory process, which allowed them to extend their deadlines for a decision in the merger proceeding to mid-December 2018. The Idaho commission postponed their technical hearing in the proceeding, pending further information regarding the status of Hydro One’s leadership.
For more information, please see this fact sheet. If you have questions, please contact me directly. Thank you and please share this information with others in your network.
Contact:
Patty Shea
patty.shea@avistacorp.com, (800) 227-9187
