Alaska turns down AEL&P application

    Juneau, Alaska (KINY) The Regulatory Commission on Alaska may have caused a delay in the proposed sale of AEL&P to a Canadian firm.

    The decision turned down a proposed waiver from the commission that foreign corporations have proof that they can do business in Alaska.

    The companies do plan to reapply. 

    Hydro One, acting through Olympus Equity, is in the process of acquiring ownership of Avista. As part of this process, Hydro One, through Olympus Equity, and Avista jointly filed an application for Hydro One to acquire a controlling interest in AEL&P.

    The Commission received 34 comments from the public notice that included eight comments in opposition to the motion for waiver.  Opposition to the Motion for Waiver was generally based on the ground that Hydro One is a foreign corporation.

    In reply, Hydro One, through Olympus Equity, and Avista point out that several opponents to the Motion for Waiver misunderstood that motion to be a request for permission to conduct business in Alaska without a business license. They assert that all business conducted in Alaska would be by AEL&P and Alaska Energy and Resources Company They further assert that the general opposition to the Motion for Waiver is not a reasonable basis for denial because AEL&P and AERC are currently owned by a foreign corporation,

    More from News of the North

    Current Conditions

    Crude Oil Price