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Canada now owns part of Idaho

Posted By: AndiV
Date: Sunday, 14-Jan-2018 00:58:05

Aside from the possibility that north Idaho Avista customers will be under a Canadian electric utility, Hydro One, there is a far more serious problem in that a U.S. electrical grid will be run by a foreign country.

Hydro One is a Canadian electricity transmission and distribution service provider. Even though Hydro One is a private company, up until 2015 the Government of Ontario held 100% of its shares, at which time the government decided to sell up to 60% shares to raise money for infrastructure improvements. One concern expressed at that time was the possibility of foreign investments, which did happen with the Bahrain Gulf International Bank (GIB) holding approximately 93k shares. As of May, 2017 Ontario held the remaining 49.9% shares.

In July, 2017 Hydro One bought the American energy company Avista for $5.3 billion U.S. dollars as part of their plan "to grow our business to become a North American leader", creating "one of the largest regulated utilities in North America." Avista will be allowed to "keep its existing corporate headquarters... and continue to operate as a stand-alone utility in Washington, Oregon, Idaho, Montana and Alaska." Scott Morris, Avista president, likes this deal because of future "opportunities in a consolidating industry landscape for the benefit of our customers. Morris also stated, "The partnership largely allows Avista to preserve how it does business with its customers, enables it to continue to pursue technological innovation, and permits it to take advantage of operating efficiencies and shared best practices".

Sovereign boundaries between countries are now nothing more than an industry landscape? Ontario sits on the border from Minnesota to New York, now northwest states are part of this landscape?

According to Daiene Vernile, Member of Provincial Parliament, the Ontario Energy Board will set rates and Ontario will retain regulatory control. She better get together with Scott Morris, there seems to be a disconnect between their understanding of the deal. Wow, American electricity rates under a foreign country. Avista shareholders approved the deal November 21, 2017 but Avista is already being investigated for "potential breach of fiduciary duty claims against the Board of Directors". The deal requires the approval of the Idaho Public Utilities Commission (IPUC) and per this October 5, 2017 Order Avista promises no increased rate hikes and better service, Avista stock will be purchased by Hydro One, and August 14, 2018 is the final date of closure on the deal. On the other hand IPUC must find that "the transaction is consistent with the public interest". How is selling an Idaho utility out to a foreign country or allowing a foreign country determine what rates an Idahoan pays for electricity consistent with public interest? Entangling our electrical assets with foreigners has been going on for some time, such as the San Diego Gas & Electric entering into a "partnership" with the Russian Federation in 2010.

As part of the deal Hydro One will now also own Avista dams including the Upper Falls, Monroe Street, Nine Mile, Little Falls, and Long Lake dams in Washington and the Cabinet Gorge and Post Falls dams in Idaho, found on this map. more at link
http://idahoansagainstagenda21.weebly.com/articles





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