Alaska Commission Rejects Canadian Firm’s Offer for Utility
JUNEAU, Alaska (AP) — Alaska’s utility regulator has turned down a Canadian firm’s offer to take over Alaska Electric Light and Power citing a legal technicality.
The Juneau Empire reported Sunday that the Regulatory Commission of Alaska denied Ontario-based Hydro One’s application to acquire the electric utility company.
The move came after the commissioners rejected an argument by Hydro One that it was exempt from rules requiring it to show proof that, as a foreign corporation, it can do business in Alaska since it planned to managed the Juneau utility through its parent company, Avista, based in Washington, which is turn is run through a Delaware-based LLC.
Alaska Electric Light and Power Vice President and spokeswoman told the newspaper in an email that Hydro One plans to refile the request.
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