Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  Avista Corp    AVA

AVISTA CORP (AVA)
Mes dernières consult.
Most popular
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets
The feature you requested does not exist. However, we suggest the following feature:

Avista : Speak up on Avista merger

share with twitter share with LinkedIn share with facebook
share via e-mail
0
09/23/2017 | 06:00am CEST

Avista Corp. has requested regulatory approval of its proposed $5.3 billion merger with Toronto-based Hydro One Limited.

If the proposal, announced in July, is approved, Avista will become a wholly owned subsidiary of Hydro One, the largest electric utility in the province of Ontario.

"There will be no changes to operations," Avista Corp. Chairman, President and CEO Scott Morris said. "The only difference is we'll be owned by one shareholder - Hydro One."

Avista would keep its name and continue to operate out of its headquarters in Spokane as a "stand-alone utility" with its existing employees and management team, according to the application filed with the Idaho Public Utilities Commission, one of several regulatory entities that must approve the transaction.

Combined, the two companies would be one of the largest regulated utilities in North America, with more than $25.4 billion in assets.

If the merger is approved, Avista would no longer be a publicly traded company.

The companies have requested IPUC approval of the merger by mid-August 2018.

Documents on the proposal are at www.puc.idaho.gov. Under the "Electric" heading, click on "Open Cases" and scroll down to Case No. AVU-E-17-09. The information can also be found under the "Natural Gas" heading. From there, click on "Open Cases" and scroll down to Case No. AVUG-17-05.

Comments on the proposal can also be submitted via the website. Under the "Electric" or "Natural Gas" heading, click on "Case Comment Form" and enter your comment. Be sure to include the case number, AVU-E-17-09 or AVU-G-17-05.

No deadline for comments has been set, said Matt Evans, IPUC spokesman.

Receiving service from a larger utility would allow Avista customers to "receive the benefits of scale ... while also avoiding the risk of a potential subsequent acquisition by another party that may not share Avista's culture and values," the application states.

For customers, the cost savings associated to the merger would be "immediate," the application states.

A rate credit of $31.5 million to be distributed over a 10-year period has been proposed.

"The $31.5 million represents the ‘floor' of benefits that will be flowed through to Avista's customers," the application states.

Long-term benefits include increased purchasing power and reduced costs associated with efficiencies that emerge as best practices and business processes are developed and technology shared.

Hydro One provides electric service to more than 1.3 million customers throughout Ontario.

The investor-owned company does not own any generation assets but maintains a network of nearly 18,700 miles of transmission lines and 77,000 miles of distribution lines.

Avista owns and operates eight hydropower facilities, five natural gas plants and a biomass facility. The company has ownership interests in two coal-fired plants and maintains more than 20,800 miles of transmission and distribution lines.

Avista provides electric service to approximately 378,000 customers and natural gas service to 342,000 customers. About 130,000 electric customers and 82,000 natural gas customers are in Idaho.

IPUC will analyze the proposed transaction to determine whether it is in the interest of the state's residents.

State law specifies that an electric utility may transfer property only if IPUC finds that:

• rates will not increase because of the transaction;

• the buyer has the intent and financial ability to operate and maintain the property in the public service; and

• the transaction is consistent with the public interest.

Other entities that must approve the merger include regulatory agencies in Washington, Oregon, Montana and Alaska, as well as the Federal Energy Regulatory Commission.

The merger must comply with the Hart-Scott-Rodino Antitrust Improvements Act of 1976, and it must be authorized by the Committee on Foreign Investment in the United States, an inter-agency governmental board charged with reviewing the national security implications of foreign investments in U.S. companies.

The Province of Ontario owns 49.9 percent of Hydro One's shares but "it does not hold or exercise any managerial oversight over Hydro One," the application states.

© Copyright, 2017, The Coeur d'Alene Press. All Rights Reserved., source Newspapers

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on AVISTA CORP
09/23 AVISTA : Speak up on Avista merger
09/23 Avista Receives Commission Decision in Oregon Natural Gas Rate Case
09/22 AVISTA : Idaho PUC Issues Notice Involving Avista Corporation
09/19 HOSTOPIA COM : Idaho PUC Issues Order Involving Hydro One
09/16 AVISTA : Hydro One Ask PSC to Approve $5.3 Billion Merger
09/16 AVISTA : Documents reveal corporate suitors' wooing of Avista Corp., ultimate sa..
09/16 Colstrip edges toward complete closure
09/15 Colstrip edges toward complete closure
09/14 AVISTA CORPORATION (NYSE : AVA) Files An 8-K Other Events
09/14 AVISTA CORP : Other Events, Financial Statements and Exhibits (form 8-K)
More news
News from SeekingAlpha
09/07 A Look Back At Selling Chevron
08/24 Dividend Growth Stocks Going Ex-Div Next Week (August 28-September 1st)
08/22 DIVIDENDS & INCOME DIGEST : What Investment Risks Are You Taking?
08/21 Afraid Of The Next Correction? My Strategy And Wish List For The Next Market ..
08/17 Avista declares $0.3575 dividend
Financials ($)
Sales 2017 1 737 M
EBIT 2017 288 M
Net income 2017 128 M
Debt 2017 -
Yield 2017 2,78%
P/E ratio 2017 26,45
P/E ratio 2018 25,28
Capi. / Sales 2017 1,91x
Capi. / Sales 2018 1,84x
Capitalization 3 311 M
Chart AVISTA CORP
Duration : Period :
Avista Corp Technical Analysis Chart | AVA | US05379B1070 | 4-Traders
Technical analysis trends AVISTA CORP
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 4
Average target price 49,0 $
Spread / Average Target -4,7%
EPS Revisions
Managers
NameTitle
Scott L. Morris Chairman, President & Chief Executive Officer
Mark T. Thies Chief Financial Officer, Treasurer & Senior VP
James M. Kensok VP, Chief Information & Security Officer
Reed John Taylor Independent Director
Erik J. Anderson Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
AVISTA CORP28.28%3 311
NATIONAL GRID PLC-0.79%43 713
ENGIE18.73%41 881
ELECTRICITÉ DE FRANCE15.03%35 628
SEMPRA ENERGY15.17%29 110
PPL CORP13.98%26 385