Idaho regulators take testimony on Avista's sale
Hydro One Ltd.’s independence was on the stand Monday as Idaho attorneys grilled executives about the Ontario government’s influence on the utility trying to buy Avista Corp.
Most of the discussion in the Idaho Public Utilities Commission’s 6 1/2-hour hearing revolved around whether the Canadian province acts primarily as an investor in Hydro One or whether it meddles in management.
About 47 percent of Hydro One’ s stock is owned by the province of Ontario. In July, newly elected Premier Doug Ford called for the resignation of Hydro One’s board of directors and the retirement of its chief executive officer. Hydro One’s credit rating dropped as a result of the sudden ouster, which company executives said was politically driven.
“Avista is fairly well run. They’ve got good credit ratings and they’ve got some of the happiest customers in the state,” Kristine Raper, one of the three public utilities commissioners, told Hydro One executives. “They’re asking us – you’re asking us – to approve a merger.”
Read more: http://www.spokesman.com/stories/2018/nov/26/idaho-regulators-take-testimony-on-avistas-sale/
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