Avista strikes deal to acquire electric utility in Alaska

By Becky Kramer
Spokesman Review

Avista Corp. is moving into the Alaska market through the planned purchase of an electric utility serving the Juneau area.

In a deal announced Monday, Avista will acquire Alaska Electric Light and Power’s parent company through a $170 million stock transaction. The sale is expected to close by July 1, subject to regulatory approvals.

“It gives us a small utility in Juneau” whose power generation is nearly 100 percent renewable, said Jessie Wuerst, an Avista spokesman. Read more