Hydro One to acquire Avista
Hydro One and Avista combine to create growing North American utility leader.
The transaction brings together two industry-leading regulated utilities with more than 230 years of collective operational experience, shared corporate cultures and values.
In partnership with Hydro One, Canada's largest electricity transmission and distribution provider, we jointly announced a unique transaction under which we will become a subsidiary of Hydro One in a manner that preserves our identity and legacy and allows us to continue charting our own course in a rapidly consolidating industry landscape.
While this changes our ownership structure, it doesn't change the things that matter most about Avista. We take very seriously our responsibility to be a good corporate citizen and community partner, and we are confident that this transaction is good news for our customers and the communities we serve.
Some of the key benefits are:
- We will continue to operate under the Avista name from our Spokane headquarters, keeping jobs in our local communities.
- Customers will continue to receive high quality, reliable energy services at a reasonable cost.
- The communities we serve will continue to benefit from the important philanthropy and community development provided—in fact, Hydro One will nearly double our levels of community contributions.
- With Hydro One as our partner, we will continue to uphold our longstanding commitment to environmental responsibility, innovation, safety, and reliability—as well as increase our ability to create cost savings and efficiencies.
For more information, see below: