Avista sold to Canadian company Hydro One for $5.3 billion - Spokane, North Idaho News & Weather KHQ.com

Avista sold to Canadian company Hydro One for $5.3 billion

Posted: Updated:
SPOKANE, Wash. -

Avista was sold for $5.3 billion to a Canadian company named Hydro One. 

The deal was announced on Wednesday and according to a statement released by Avista, they will keep their corporate headquarters in Spokane and will operate as a stand-alone utility in Washington, Oregon, Idaho, Montana and Alaska. 

Will this deal affect your utility rates? According to the companies, no. In fact, the companies claim an enhanced transmission and distribution system will achieve "operation excellence leading to cost savings over time."

HYDRO ONE FAQs

“For Avista, the decision to team up with Hydro One at a time of strength and growth represents a win for our customers, employees, shareholders and the communities we serve,” Scott Morris, head of Avista, said in a statement. “ In Hydro One, we believe we’ve found a partner that allows us to preserve our identity and our proud legacy, while also preparing us for the future. We look forward to joining forces with Hydro One and its dynamic team.”

The all-cash deal includes the assumption of Avista's $1.9 billion debt. Scott Morris will be CEO and Chairman of Avista. 

  • Most Popular StoriesMost Popular StoriesMore>>

  • Idaho woman arrested following death of 20-month-old child

    Idaho woman arrested following death of 20-month-old child

    Saturday, October 21 2017 5:27 PM EDT2017-10-21 21:27:17 GMT

    TWIN FALLS, Idaho (AP) - Police have arrested a south-central Idaho woman following the death of her 20-month-old child. Authorities arrested 22-year-old Amanda Dunlap of Twin Falls in Boise on Friday and booked her into the Ada County Jail.

    >>

    TWIN FALLS, Idaho (AP) - Police have arrested a south-central Idaho woman following the death of her 20-month-old child. Authorities arrested 22-year-old Amanda Dunlap of Twin Falls in Boise on Friday and booked her into the Ada County Jail.

    >>
  • Remembering Las Vegas shooting victim Rachael Parker

    Remembering Las Vegas shooting victim Rachael Parker

    Saturday, October 21 2017 9:46 PM EDT2017-10-22 01:46:14 GMT

    Cheney, Wash. Today friends, family, and co-workers took time to remember 33-year-old Rachael Parker. Reverend Happy Watkins officiated the memorial service at Cheney Middle School and said Rachael had a heart of gold "She was a gifted kindhearted, caring person." Rachael was at the Route 91 Concert. A three-day country music event in Las Vegas. Rachael attended the concert with four other off-duty employees of the Manhattan Beach Police Department until shots rang out from

    >>

    Cheney, Wash. Today friends, family, and co-workers took time to remember 33-year-old Rachael Parker. Reverend Happy Watkins officiated the memorial service at Cheney Middle School and said Rachael had a heart of gold "She was a gifted kindhearted, caring person." Rachael was at the Route 91 Concert. A three-day country music event in Las Vegas. Rachael attended the concert with four other off-duty employees of the Manhattan Beach Police Department until shots rang out from

    >>
  • Spokane police investigating body found in dumpster

    Spokane police investigating body found in dumpster

    Friday, October 20 2017 6:54 PM EDT2017-10-20 22:54:15 GMT

    SPOKANE, Wash. - Spokane Police say they are investigating an unattended death after they responded to a report of a deceased woman found in a dumpster of a business in the 2900 block of E. 27th Ave. Friday morning. Spokane Police Officers and Major Crimes Unit (MCU) Detectives responded to the scene for the investigation around 9:30 a.m.

    >>

    SPOKANE, Wash. - Spokane Police say they are investigating an unattended death after they responded to a report of a deceased woman found in a dumpster of a business in the 2900 block of E. 27th Ave. Friday morning. Spokane Police Officers and Major Crimes Unit (MCU) Detectives responded to the scene for the investigation around 9:30 a.m.

    >>
HD DOPPLER 6i
/
  • Top Stories from KHQHomeMore>>

  • Former presidents call for unity at hurricane aid concert

    Former presidents call for unity at hurricane aid concert

    Sunday, October 22 2017 12:50 AM EDT2017-10-22 04:50:29 GMT

    AUSTIN, Texas (AP) - The five living former presidents put aside politics and appeared together for the first time since 2013 at a concert on Saturday to raise money for victims of devastating hurricanes in Texas, Florida, Louisiana, Puerto Rico and the U.S. Virgin Islands.

    >>

    AUSTIN, Texas (AP) - The five living former presidents put aside politics and appeared together for the first time since 2013 at a concert on Saturday to raise money for victims of devastating hurricanes in Texas, Florida, Louisiana, Puerto Rico and the U.S. Virgin Islands.

    >>
  • Astros reach World Series, top Yankees 4-0 in Game 7 of ALCS

    Astros reach World Series, top Yankees 4-0 in Game 7 of ALCS

    Sunday, October 22 2017 12:39 AM EDT2017-10-22 04:39:33 GMT

    HOUSTON (AP) - Charlie Morton and Lance McCullers combined on a three-hitter, Jose Altuve and Evan Gattis homered and the Houston Astros reached the World Series for only the second time, blanking the New York Yankees 4-0 Saturday night in Game 7 of the AL Championship Series.

    >>

    HOUSTON (AP) - Charlie Morton and Lance McCullers combined on a three-hitter, Jose Altuve and Evan Gattis homered and the Houston Astros reached the World Series for only the second time, blanking the New York Yankees 4-0 Saturday night in Game 7 of the AL Championship Series.

    >>
  • Remembering Las Vegas shooting victim Rachael Parker

    Remembering Las Vegas shooting victim Rachael Parker

    Saturday, October 21 2017 9:46 PM EDT2017-10-22 01:46:14 GMT

    Cheney, Wash. Today friends, family, and co-workers took time to remember 33-year-old Rachael Parker. Reverend Happy Watkins officiated the memorial service at Cheney Middle School and said Rachael had a heart of gold "She was a gifted kindhearted, caring person." Rachael was at the Route 91 Concert. A three-day country music event in Las Vegas. Rachael attended the concert with four other off-duty employees of the Manhattan Beach Police Department until shots rang out from

    >>

    Cheney, Wash. Today friends, family, and co-workers took time to remember 33-year-old Rachael Parker. Reverend Happy Watkins officiated the memorial service at Cheney Middle School and said Rachael had a heart of gold "She was a gifted kindhearted, caring person." Rachael was at the Route 91 Concert. A three-day country music event in Las Vegas. Rachael attended the concert with four other off-duty employees of the Manhattan Beach Police Department until shots rang out from

    >>