Hydro One Limited is an electricity transmission and distribution utility serving the Canadian province of Ontario. Hydro One traces its history to the early 20th century and the establishment of the Hydro-Electric Power Commission of Ontario.

Washington State regulators have rejected Hydro One’s proposed takeover of Avista Corp. citing political interference in the Ontario-based utility by the Doug Ford government.

The Washington Utilities and Transportation Commission (UTC) said the $6.7-billion deal was not in the public interest because it was “evident” that decisions impacting Hydro One were influenced by “political considerations” following Ford forcing the retirement of Hydro One CEO Mayo Schmidt.

The departure of Schmidt — who Ford has referred to as “the $6-million man” — was followed by the resignation of the entire board, events that were cited as evidence by state regulators that Ontario was willing to put political interests above those of shareholders.

Editorial Team
The Editorial Team comprises a diverse and talented team of writers, researchers and subject matter experts equipped with data and insights to deliver useful news updates. We are experts with the mission to inform, educate and inspire the industry. We are passionately curious, enthusiastic, and motivated to positively impact the world. Send us a tip via hello @ pvbuzz [dot] com.

World Bank Pledges $200 Billion Climate Action Investment

Previous article

Why Xcel Energy’s plan to go 100% clean energy—is a big deal

Next article


Comments are closed.