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Avista Advances on the Northwest
Continuing the attack on the northwest U.S. electric generationmarket, Avista Energy Canada, a Washington Water Power (WWP)affiliate, announced Wednesday the acquisition of Coast PacificManagement Inc., a gas manager for industrials throughout BritishColumbia. Terms of the agreement were not disclosed, but the WWPaffiliate did say that Coast Pacific would be incorporated into itsVancouver operations. The deal became effective at the time of theannouncement.
This merger represents Avista’s desire to increase its presencenorth of the border, and to reach a new pool of end-users. Thecompany also said other moves in the Northwest region will beannounced before the end of the calendar year.
Avista Energy’s sister company, Avista Power, is already alliedwith Cogentrix Energy Inc. to jointly build and/or buy interests ingas-fired electric generation plants in the northwest U.S. AvistaEnergy will supply the gas to the first plant being built from thealliance, a 270 MW $150 million facility in Rathdrum, ID, expected tobegin service in 2001. (See Daily GPIDec. 14) For the third quarter of 1998, NGI ranked Avista Energy18th among power marketers by volume.
Coast Pacific Management, located in Vancouver, acts as gasmanager and marketer for more than 40% of the large industrialmarket in British Columbia. It manages and transports 70,000MMBtu/d to 70 large and medium-sized industrial customersthroughout the region. “[This acquisition] presents us with theopportunity to serve more customers, provide those customers withmore choices and enhances our access to Canadian natural gassupplies that may help us in the development of future businessopportunities, such as power generation projects.” T.M. Matthews,WWP’s CEO said.
According to a WWP spokesman, no layoffs as a result of themerger were in sight.
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