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>>

  • One man dead, another arrested after shooting near Post Falls

    One man dead, another arrested after shooting near Post Falls

    Sunday, October 21 2018 10:57 AM EDT2018-10-21 14:57:39 GMT

    POST FALLS, Idaho - Kootenai County Deputies arrested a man for involuntary manslaughter after they say he shot and killed another man Saturday evening near Post Falls. Deputies responded to reports of a shooting on Gallatin Way near Post Falls just before 7 pm. Deputies and medical personnel arrived and found a man, identified as Tyler S. Liles, with a single gunshot wound.

    >>

    POST FALLS, Idaho - Kootenai County Deputies arrested a man for involuntary manslaughter after they say he shot and killed another man Saturday evening near Post Falls. Deputies responded to reports of a shooting on Gallatin Way near Post Falls just before 7 pm. Deputies and medical personnel arrived and found a man, identified as Tyler S. Liles, with a single gunshot wound.

    >>
  • PHOTOS: Family treasures stolen from Spokane family

    PHOTOS: Family treasures stolen from Spokane family

    Monday, October 22 2018 8:33 AM EDT2018-10-22 12:33:01 GMT

    SPOKANE, Wash. - Spokane County Sheriff's Deputies continue to investigate a break-in that happened Tuesday morning at approximately 8:08 AM. The victims say precious family treasures were stolen. "I stayed home for a few days after it happened," said Mandie Snyder.

    >>

    SPOKANE, Wash. - Spokane County Sheriff's Deputies continue to investigate a break-in that happened Tuesday morning at approximately 8:08 AM. The victims say precious family treasures were stolen. "I stayed home for a few days after it happened," said Mandie Snyder. "I wanted to stay here. I wanted to stay here and protect my house." Snyder says their Ring doorbell camera captured a man lurking around their property and then kicking their front door several times.

    >>
  • Remembering Eddie Daniels: memorial held in honor of Spokane teenager

    Remembering Eddie Daniels: memorial held in honor of Spokane teenager

    Monday, October 22 2018 2:04 AM EDT2018-10-22 06:04:38 GMT
    Hundreds gather inside Healing Room Ministries Office at 115 East Pacific Avenue. Many attendees had to stand because the facility ran out of chairs.Hundreds gather inside Healing Room Ministries Office at 115 East Pacific Avenue. Many attendees had to stand because the facility ran out of chairs.
    Hundreds of different people from various backgrounds gathered together for the same purpose on Sunday: honoring and remembering the life of Eddie Daniels, the 15-year-old shot and killed in downtown Spokane on Wednesday night. Members of Daniels' family were also in attendance, including his mother. She's raised Daniels' and his siblings alone since her husband died over a decade ago, according to multiple friends of the family. When Daniels' mother arrived and stepped out...>>
    Hundreds of different people from various backgrounds gathered together for the same purpose on Sunday: honoring and remembering the life of Eddie Daniels, the 15-year-old shot and killed in downtown Spokane on Wednesday night. Members of Daniels' family were also in attendance, including his mother. She's raised Daniels' and his siblings alone since her husband died over a decade ago, according to multiple friends of the family. When Daniels' mother arrived and stepped out...>>
HD DOPPLER 6i
/
  • Top Stories from KHQHomeMore>>

  • Vehicle goes over embankment at High Drive & 33rd, one person dead

    Vehicle goes over embankment at High Drive & 33rd, one person dead

    Monday, October 22 2018 2:56 PM EDT2018-10-22 18:56:45 GMT

    SPOKANE, Wash. - Spokane Police say one person has died after driving over the embankment near High Drive and 33rd.  The victim hasn't been identified.  Crews will be working in the area for the foreseeable future so avoid the area if you can.  The cause of the crash is under investigation. 

    >>

    SPOKANE, Wash. - Spokane Police say one person has died after driving over the embankment near High Drive and 33rd.  The victim hasn't been identified.  Crews will be working in the area for the foreseeable future so avoid the area if you can.  The cause of the crash is under investigation. 

    >>
  • Suspected 'Piggyback Bandit' arrested in Alabama

    Suspected 'Piggyback Bandit' arrested in Alabama

    Monday, October 22 2018 2:27 PM EDT2018-10-22 18:27:19 GMT

    FALKVILLE, Ala. - Police in Alabama say the Piggyback Bandit has been caught.  You may remember last December the man known as the Piggyback Bandit was spotted at North Central High School in Spokane.

    >>

    FALKVILLE, Ala. - Police in Alabama say the Piggyback Bandit has been caught.  You may remember last December the man known as the Piggyback Bandit was spotted at North Central High School in Spokane. That was five years after his first reported piggybacking. But his piggybacking days have come to a halt after his arrest in Falkville, Alabama this weekend.  

    >>
  • Gonzaga snags No. 3 spot in AP Top 25 preseason poll

    Gonzaga snags No. 3 spot in AP Top 25 preseason poll

    Monday, October 22 2018 12:43 PM EDT2018-10-22 16:43:30 GMT

    NEW YORK - Kansas is No. 1 in The Associated Press Top 25 preseason poll. Bill Self's Jayhawks earned 37 of 65 first-place votes in results released Monday. That was nearly double that of second-ranked Kentucky  The Jayhawks lost three starters from last year's Final Four team, but have a restocked roster that includes transfer help from Memphis and California.   

    >>

    NEW YORK - Kansas is No. 1 in The Associated Press Top 25 preseason poll. Bill Self's Jayhawks earned 37 of 65 first-place votes in results released Monday. That was nearly double that of second-ranked Kentucky  The Jayhawks lost three starters from last year's Final Four team, but have a restocked roster that includes transfer help from Memphis and California.   

    >>