Washington State Regulators say they have denied Hydro One Ltd's suggested treatment of Avista Corp. Citing political interference in the Ontario utility by the Doug Ford government.
The Washington Utilities and Transportation Commission says that it concluded the contract, which valued Avista at $ 6.7 billion, not to be in public interest after it became clear that the Ontario Government is ready to interfere in its use.
The US It. Regulator cited as a Ford fare with the withdrawal of the Hydro One CEO, which was followed by the resignation of the whole board, as saying that the province was ready to put political interests above the shareholders.
Hydro One, 47 percent owned by the Ontario Government, was sure that the province was a passive investor that would not perform political pressure on the company.
The US It. Regulator says the promised benefits of the contract, including rate credits, are inadvertently compensated for the risk of Avista customers would face.