Hydro One and Avista to file for reconsideration of decision in Washington merger case
11 December 2018 - 9:01AM
Hydro One Limited (“Hydro One”) (TSX: H) and Avista Corporation
(“Avista”) (NYSE: AVA) will file a petition no later than December
17, 2018 with the Washington Utilities and Transportation
Commission (UTC) requesting the UTC to reconsider its December 5,
2018 order denying approval of Hydro One’s acquisition of Avista.
Under Washington law, the UTC has 20 days from
the date of filing to act on the petition, failing which the
petition is deemed to be denied. 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.
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, Investor Relations
Managerjason.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 five
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 joint application and
settlement agreement 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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