"Avista"

The proposed merger between the parent company of Juneau’s power utility and a Canadian power company is dead. That’s according to Hydro One and Avista, who announced Wednesday they had terminated the deal.

Regulators in Washington state have blocked the acquisition of Alaska Electric Light & Power’s parent company by a Canadian utility. AEL&P serves about 17,000 homes and businesses in Juneau.

Alaska Electric Light & Power said political pressures in Ontario won’t affect the acquisition of its parent company Avista by Hydro One of Toronto. But market analysts warn of new uncertainty over the $5.3 billion deal.

The deal between Hydro One and the City and Borough of Juneau over the purchase of Juneau’s utility has been mostly accepted by state regulators. Full approval is still more than a month away.

Hydro One makes 39 binding commitments covering corporate independence for AEL&P and assurances over its assets and transparency on how it operates in a 22-page joint-agreement.

The city has reached an agreement with Hydro One and the parent company of Juneau’s electric utility and says it will resolve Juneau residents’ concerns over the transfer.

Alaska Electric Light & Power’s parent company has reached a settlement with state regulators in Washington to merge with Hydro One. The acquisition by the Canadian power company still needs approval from four other states, including Alaska.

The Regulatory Commission of Alaska ruled that Juneau will be allowed to intervene as a party to the negotiations between Hydro One and Alaska Electric Light and Power’s parent company, Avista.

Hydro One asked the Juneau Assembly to rescind its petition to intervene over its acquisition of Alaska Electric Light and Power. In return it had offered some general commitments that Assembly members felt didn’t go far enough to protect the community’s interests.

The City and Borough of Juneau will petition state regulators for a seat at the table as it reviews Alaska Electric Light & Power’s acquisition by Hydro One of Canada. The Juneau Assembly unanimously approved $75,000 in legal fees to make its case to the Regulatory Commission of Alaska.