SPOKANE, Wash. – State regulators with the Washington Utilities and Transportation Committee did not grant a petition from Hydro One and Avista to reconsider the rejection of the companies' proposed merger.
On Dec. 5, the UTC denied Hydro One’s acquisition of Avista. State regulators said the merger did not adequately protect Avista or its customers from political and financial risks.
The companies asked the petition for reconsideration on Dec. 17.
In the petition, the companies asked that the UTC rehear the matter to accept new evidence, Hydro One officials said in a press release.
The UTC had 20 days to respond to the petition.
“The proposed transaction cannot be said to be consistent with the public interest when it is evident that decisions affecting Hydro One’s and Avista’s business operations and financial integrity are subject to political considerations that may motivate one provincial leader or another to make decisions and take actions in the future that may cause harm instead of promoting the best interests of Avista, its customers, and Hydro One’s non-government shareholders,” the commission said in a statement.
Commission leaders said the two companies filed a joint application with the commission to approve the merger agreement back in September 2017.
