Hydro One, Ontario’s transmission and distribution grid utility, has offered to acquire Spokane, Wash.-based electricity and gas utility Avista for $5.3 billion. In what would be one of the biggest, cross-border acquisitions in the North American utility landscape, Hydro One would solve problems that it facing with pressure to perform in the public market.
The retail electricity and natural-gas business of Avista would provide Hydro One with exposure to retail energy and power markets in the United States. Furthermore, chances are that the company would thrive considering trends of flat or declining energy growth.
The deal is expected to close in the middle of next year. Hydro One serves more than 100 other utilities with about 1.3 million customers via more than 150,000 kilometers of high- and low-voltage wires.
GreentechMedia
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