Washington state regulators have denied a request from Hydro One and Avista Corp. to reconsider the rejection of the Ontario utility’s planned takeover of the American company. The Washington Utilities and Transportation Commission had said it would not approve the deal for fear the Ontario provincial government, which owns 47 per cent of Hydro One’s shares, might meddle in Avista’s operations. Article Continued BelowThe deal required approvals from state regulatory commissions in Washington, Idaho, Oregon, Montana and Alaska to go through. “We understand that Hydro One and Avista are reviewing both the Idaho decision and the Washington Utilities Commission’s decision not to reconsider their order,” said Sydney Stonier. Hydro One stands to face more than $133 million in penalties over the quashed deal, according to transaction documents.

Source: thestar January 08, 2019 17:09 UTC