TORONTO and SPOKANE, WA, Dec. 17,
2018 /CNW/ - As announced on December 10, 2018, Hydro One Limited ("Hydro
One") (TSX: H) and Avista Corporation ("Avista") (NYSE: AVA) today
filed a petition requesting that the Washington Utilities and
Transportation Commission ("UTC") reconsider its December 5, 2018 order denying approval of Hydro
One's acquisition of Avista, together with a petition requesting
that the UTC rehear the matter to accept new evidence.
Under Washington law, the UTC
has 20 days to act on the petition for reconsideration. If the UTC
grants the petition for reconsideration, it may modify its prior
order or take any actions it deems appropriate, including extending
the timeframe for its deliberations.
A copy of the filing can be found at www.utc.wa.gov.
About Hydro One Limited
We are Ontario's largest electricity transmission and
distribution provider with more than 1.3 million valued customers,
over C$25 billion in assets and 2017
annual revenues of nearly C$6
billion. Our team of over 7,400 skilled and dedicated
regular and non-regular employees proudly and safely serves
suburban, rural and remote communities across Ontario through our 30,000 circuit km of
high-voltage transmission and 123,000 circuit km of primary
distribution networks. Hydro One is committed to the communities we
serve, and has been rated as the top utility in Canada for its corporate citizenship,
sustainability, and diversity initiatives. We are one of only six
utility companies in Canada to
achieve the Sustainable Electricity Company designation from the
Canadian Electricity Association. We also provide advanced
broadband telecommunications services on a wholesale basis
utilizing our extensive fibre optic network. Hydro One Limited's
common shares are listed on the Toronto Stock Exchange (TSX:
H).
Forward-Looking Statements and Information
This press
release and the filing to which it refers may contain
"forward-looking information" within the meaning of applicable
securities laws. Words such as "expect", "anticipate", "intend",
"attempt", "may", "plan", "will", "can", "believe", "seek",
"estimate", and variations of such words and similar expressions
are intended to identify such forward-looking information. These
statements are not guarantees of future performance or actions and
involve assumptions and risks and uncertainties that are difficult
to predict. Therefore, actual outcomes and results may differ
materially from what is expressed, implied or forecasted in such
forward-looking information. Some of the factors that could cause
actual results or outcomes to differ materially from the results
expressed, implied or forecasted by such forward-looking
information, including some of the assumptions used in making such
statements, are discussed more fully in Hydro One's filings with
the securities regulatory authorities in Canada, which are available on SEDAR at
www.sedar.com. Hydro One does not intend, and it disclaims any
obligation, to update any forward-looking information, except as
required by law.
About Avista Corporation
Avista Corporation is an
energy company involved in the production, transmission and
distribution of energy as well as other energy-related businesses.
Avista Utilities is our operating division that provides
electric service to 383,000 customers and natural gas to 348,000
customers. Its service territory covers 30,000 square miles in
eastern Washington, northern
Idaho and parts of southern and
eastern Oregon, with a population
of 1.6 million. Alaska Energy and Resources Company is an Avista
subsidiary that provides retail electric service in the city and
borough of Juneau, Alaska, through
its subsidiary Alaska Electric Light and Power Company. Avista
stock is traded under the ticker symbol "AVA." For more information
about Avista, please visit www.myAvista.com.
This news release contains forward-looking statements regarding
the company's current expectations. Forward-looking statements are
all statements other than historical facts. Such statements speak
only as of the date of the news release and are subject to a
variety of risks and uncertainties, many of which are beyond the
company's control, which could cause actual results to differ
materially from the expectations. These risks and uncertainties
include, in addition to those discussed herein, all of the factors
discussed in the company's Annual Report on Form 10-K for the year
ended Dec. 31, 2017 and the Quarterly
Report on Form 10-Q for the quarter ended Sept. 30, 2018.
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SOURCE Hydro One Limited