UTC Deny Hydro One's Acquisition Of Avista - Quick Facts

(RTTNews) - Hydro One Limited (H.TO) and Avista Corp. received a regulatory decision from the Washington Utilities and Transportation Commission (UTC), denying the proposed merger. The companies said they are reviewing the UTC's order in detail and will determine the appropriate next steps.

In September 2017, Avista and Hydro One filed a joint application with the commission to approve the companies' proposed merger agreement. The Washington Utilities and Transportation Commission determined the proposed merger agreement does not adequately protect Avista or its customers from political and financial risk, nor does it provide a net benefit to customers as required by state law.