Hydro One and Avista file request to reconsider decision in Washington merger case
December 17 2018 - 5:15PM
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.
For further information:
Hydro One
Media:Jay ArmitageDirector, Corporate
Communicationsmedia.relations@hydroone.com, 416-345-6868
Investors:Omar JavedVice President, Investor
Relationsinvestor.relations@hydroone.com, 416-345-5943
Avista
Media: Casey Fielder, Communications Manager
casey.fielder@avistacorp.com, 509-495-4916
Investors:Jason Lang, Director of
Financejason.lang@avistacorp.com, 509-495-2930
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 CorporationAvista 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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