Avista’s sale to Canadian utility could impact Colstrip power plant’s future

The sale of Avista Corp. to a Canadian utility passed a major milestone Tuesday when the parties outlined conditions in a proposed agreement with Washington regulators.

After the $5.3 billion sale, Avista would operate as a wholly-owned subsidiary of Hydro One Ltd. of Toronto.

Hydro One has agreed to keep Avista’s headquarters in Spokane, retain similar workforce levels and continue as a major player in the region’s economic development efforts.