Latest news with #HeatherRosentrater
Associated Press
06-08-2025
- Business
- Associated Press
Avista Corp. Reports Financial Results for the Second Quarter of 2025, Confirms 2025 Earnings Guidance with Strong Utility Offsetting Investment Losses
SPOKANE, Wash., Aug. 06, 2025 (GLOBE NEWSWIRE) -- Avista Corp. (NYSE: AVA) today announced financial results for the second quarter of 2025. Net income and earnings per diluted share for the second quarter and year-to-date 2025 compared to the same periods in 2024 are presented in the table below (dollars in millions, except per-share data): 'Our year-to-date results underscore the strength of our core utility operations,' said Avista President and CEO Heather Rosentrater. 'We are disappointed by the lower valuations in our investment portfolio during the second quarter, primarily related to our clean technology investments. The value of these investments was negatively impacted by shifting public policy and sentiment.' 'The recent multiyear rate plan in Washington, an approved settlement in Oregon and an all-party settlement in Idaho all serve to increase our confidence in earnings at Avista Utilities. We expect Avista Utilities' results to be toward the upper end of our guidance, evidence of our continued strategic progress. On a consolidated basis, we expect to be at the low end of our range for 2025 as a result of the unrealized losses on our investments,' Rosentrater added. 'We remain focused on strong execution of our business plans. I'm confident about the opportunities still ahead as we build toward our customers' future needs.' Analysis of 2025 Consolidated Earnings The table below presents the change in net income and diluted earnings per share for the second quarter and year-to-date 2025 as compared to the same periods in 2024, as well as the various factors, shown on an after-tax basis, that caused such change (dollars in millions, except per-share data): (a) The tax impact of each line item was calculated using Avista Corp.'s federal statutory tax rate of 21 percent. (b) Electric utility margin increased due to the effects of our general rate cases, customer growth and non-decoupled load growth. We had a $9 million pre-tax expense under the Energy Recovery Mechanism (ERM) in the first half of 2025, compared to a $5 million pre-tax expense in the first half of 2024. (c) Natural gas utility margin increased primarily due to the effects of our general rate cases and customer growth. (d) Other operating expenses increased due to increased employee salaries and benefit costs, as well as thermal generation costs. There were also increases in amortizations and base levels of wildfire mitigation and insurance costs, with corresponding increases to revenue which resulted in no impact to earnings. (e) Depreciation and amortization increased due to additions to utility plant. (f) Other decreased due to less interest income compared to 2024, related to amortization of deferral balances as amounts were collected from customers. In addition, taxes other than income taxes increased in 2025. (g) Our effective tax rate in the first half of 2025 was 12.3 percent compared to 2.9 percent in the prior year. The change is primarily due to a decrease in tax customer credits as the majority of the tax customer credits have been returned to customers. We expect our effective tax rate to be 12.4 percent for 2025. (h) Losses at our other businesses increased due to higher net investment losses resulting from changes in fair value within our portfolio of investments and the recognition of our portion of losses in our equity method investments. Liquidity and Capital Resources Liquidity As of June 30, 2025, we had $106 million of available liquidity under the Avista Corp. committed line of credit and $42 million of available liquidity under our letter of credit facility. AEL&P had $9 million available under their line of credit as of June 30, 2025. In July 2025, we issued $120 million of long-term debt, using proceeds to repay borrowings outstanding on our committed line of credit. Also in July 2025, AEL&P entered into a $20 million term loan, using the proceeds to repay borrowings under AEL&P's line of credit and fund capital expenditures. We don't expect further issuances of long-term debt in 2025. We expect to issue up to $80 million of common stock in 2025, including $35 million issued in the first half of the year. Capital Expenditures and Other Investments In the first half of 2025, Avista Utilities' capital expenditures were $236 million and AEL&P's capital expenditures were $10 million. For Avista Utilities, we expect capital expenditures to be about $525 million in 2025. For the five-year period ending in 2029, we expect total capital expenditures at Avista Utilities of $3 billion, resulting in an annual growth rate of 5 to 6 percent. These estimates do not include potential expenditures for additional generation from our all source Request for Proposal, transmission projects or new large load customers. Capital expenditures at AEL&P are expected to be $21 million in 2025. We expect to invest $5 million in 2025 at our other businesses related to non-regulated investment opportunities and economic development projects in our service territory. 2025 Earnings Guidance and Outlook Avista Corp. is confirming its 2025 consolidated earnings guidance with a range of $2.52 to $2.72 per diluted share. As a result of $0.15 per diluted share of losses at our other businesses recorded in the first half of the year, we expect to be at the low end of the consolidated range. We expect Avista Utilities to contribute toward the upper end of a range of $2.43 to $2.61 per diluted share in 2025 as a result of strong performance, cost management and constructive regulatory outcomes. Our guidance for Avista Utilities includes an expected $0.12 negative impact from the ERM in 2025, within the 90 percent customer/10 percent Company sharing band. We have already absorbed $0.08 in our results for the first half of 2025. We expect AEL&P to contribute in the range of $0.09 and $0.11 per diluted share in 2025. Over the long term, we expect earnings growth in the 4-6 percent range from our forecast 2025 base year. Our guidance does not include the effect of unusual or non-recurring items until the effects are probable. Various factors could cause actual results to differ materially from our expectations. Please refer to our 10-K for 2024, our 10-Q for the second quarter of 2025, and the cautionary statements below, for a full discussion of these factors. Non-GAAP Financial Measures The tables below include electric and natural gas utility margin, two financial measures that are considered 'non-GAAP financial measures.' The most directly comparable measure calculated and presented in accordance with GAAP is utility operating revenues. The presentation of electric and natural gas utility margin is intended to enhance the understanding of operating performance, as it provides useful information to investors in their analysis of how changes in loads (due to weather, economic or other conditions), rates, supply costs and other factors impact our results of operations. These measures are not intended to replace utility operating revenues as determined in accordance with GAAP as an indicator of operating performance. The following table reconciles Avista Utilities' operating revenues to utility margin (after-tax) for the three and six months ended June 30 (dollars in millions): (a) Income taxes for 2025 and 2024 were calculated using Avista Corp.'s federal statutory tax rate of 21 percent. NOTE: We will host a conference call with financial analysts and investors on Aug. 6, 2025, at 10:30 a.m. ET to discuss this news release. This call can be accessed on Avista's website at You must register for the call via the link at Avista's website ( to access the call-in details for the webcast. A replay of the webcast will be available for one year on the Avista Corp. web site at Avista Corp. is an energy company involved in the production, transmission and distribution of energy as well as other energy-related businesses. Avista Utilities is our operating division that provides electric service to approximately 423,000 customers and natural gas to 383,000 customers. Our service territory covers 30,000 square miles in eastern Washington, northern Idaho and parts of southern and eastern Oregon, with a population of 1.7 million. AERC is an Avista subsidiary that, through its subsidiary AEL&P, provides retail electric service to 18,000 customers in the city and borough of Juneau, Alaska. Our stock is traded under the ticker symbol 'AVA'. For more information about Avista, please visit Avista Corp. and the Avista Corp. logo are trademarks of Avista Corporation. This news release contains forward-looking statements, including statements regarding our current expectations for future financial performance and cash flows, capital expenditures, financing plans, our current plans or objectives for future operations and other factors, which may affect the company in the future. Such statements are subject to a variety of risks, uncertainties and other factors, most of which are beyond our control and many of which could have significant impact on our operations, results of operations, financial condition or cash flows and could cause actual results to differ materially from those anticipated in such statements. The following are among the important factors that could cause actual results to differ materially from the forward-looking statements: Utility Regulatory Risk state and federal regulatory decisions or related judicial decisions that affect our ability to recover costs and earn a reasonable return including, but not limited to, disallowance or delay in the recovery of capital investments, operating costs, commodity costs, the ordering of refunds to customers and discretion over allowed return on investment; the loss of regulatory accounting treatment, which could require the write-off of regulatory assets and the loss of regulatory deferral and recovery mechanisms; Operational Risk weather conditions, which affect both energy demand and electric generating capability, including the impact of precipitation and temperature on hydroelectric resources, the impact of wind patterns on wind-generated power, weather-sensitive customer demand, and similar impacts on supply and demand in the wholesale energy markets; wildfires ignited, or allegedly ignited, by our equipment or facilities could cause significant loss of life and property or result in liability for resulting fire suppression costs and/or damages, thereby causing serious operational, reputational and financial harm; severe weather or natural disasters, including, but not limited to, avalanches, wind storms, wildfires, earthquakes, floods, extreme temperature events, snow and ice storms that could disrupt energy generation, transmission and distribution, as well as the availability and costs of fuel, materials, equipment, supplies and support services; political unrest and/or conflicts between foreign nation-states, which could disrupt the global, national and local economy, result in increases in operating and capital costs, impact energy commodity prices or our ability to access energy resources, create disruption in supply chains, disrupt, weaken or create volatility in capital markets, and increase cyber and physical security risks. In addition, any of these factors could negatively impact our liquidity and limit our access to capital, among other implications; explosions, fires, accidents, mechanical breakdowns or other incidents that could impair assets and may disrupt operations of our generation facilities, transmission, and electric and natural gas distribution systems or other operations and may require us to purchase replacement power or incur costs to repair our facilities; interruptions in the delivery of natural gas by our suppliers, including physical problems with pipelines themselves, can disrupt our service of natural gas to our customers and/or impair our ability to operate gas-fired electric generating facilities; explosions, fires, accidents or other incidents arising from or allegedly arising from our operations that could cause injuries to the public or property damage; blackouts or disruptions of interconnected transmission systems (the regional power grid); terrorist attacks, cyberattacks or other malicious acts that could disrupt or cause damage to our utility assets or to the national or regional economy in general, including effects of terrorism, cyberattacks, ransomware, or vandalism that damage or disrupt information technology systems; pandemics, which could disrupt our business, as well as the global, national and local economy, resulting in a decline in customer demand, deterioration in the creditworthiness of our customers, increases in operating and capital costs, workforce shortages, losses or disruptions in our workforce due to vaccine mandates, delays in capital projects, disruption in supply chains, and disruption, weakness and volatility in capital markets. In addition, any of these factors could negatively impact our liquidity and limit our access to capital, among other implications; work-force issues, including changes in collective bargaining unit agreements, strikes, work stoppages, the loss of key executives, availability of workers in a variety of skill areas, and our ability to recruit and retain employees; changes in the availability and price of purchased power, fuel and natural gas, as well as transmission capacity; increasing costs of insurance, more restrictive coverage terms and our ability to obtain insurance; delays or changes in construction costs, and/or our ability to obtain required permits and materials for present or prospective facilities; increasing health care costs and cost of health insurance provided to our employees and retirees; increasing operating costs, including effects of inflationary pressures; third party construction of buildings, billboard signs, towers or other structures within our rights of way, or placement of fuel containers within close proximity to our transformers or other equipment, including overbuilding atop natural gas distribution lines; the loss of key suppliers for materials or services or other disruptions to the supply chain; adverse impacts to our Alaska electric utility (AEL&P) that could result from an extended outage of its hydroelectric generating resources or their inability to deliver energy, due to their lack of interconnectivity to other electrical grids and the availability or cost of replacement power (diesel); changing river or reservoir regulation or operations at hydroelectric facilities not owned by us, which could impact our hydroelectric facilities downstream; Climate Change Risk increasing frequency and intensity of severe weather or natural disasters resulting from climate change that could disrupt energy generation, transmission and distribution, as well as the availability and costs of fuel, materials, equipment, supplies and support services; change in the use, availability or abundancy of water resources and/or rights needed for operation of our hydroelectric facilities, including impacts resulting from climate change; changes in the long-term climate and weather could materially affect, among other things, customer demand, the volume and timing of streamflows required for hydroelectric generation, costs of generation, transmission and distribution. Increased or new risks may arise from severe weather or natural disasters, including wildfires as well as their increased occurrence and intensity related to changes in climate; Cybersecurity Risk cyberattacks on the operating systems used in the operation of our electric generation, transmission and distribution facilities and our natural gas distribution facilities, and cyberattacks on such systems of other energy companies with which we are interconnected, which could damage or destroy facilities or systems or disrupt operations for extended periods of time and result in the incurrence of liabilities and costs; cyberattacks on the administrative systems used in the administration of our business, including customer billing and customer service, accounting, communications, compliance and other administrative functions, and cyberattacks on such systems of our vendors and other companies with which we do business, resulting in the disruption of business operations, the release of private information and the incurrence of liabilities and costs; Technology Risk changes in technologies, possibly making some of the current technology we utilize obsolete or introducing new cyber security risks and other new risks inherent in the use, by either us or our counterparties, of new technologies in the developmental stage including, without limitation, generative artificial intelligence; changes in the use, perception, or regulation of generative artificial intelligence technologies, which could limit our ability to utilize such technology, create risk of enhanced regulatory scrutiny, generate uncertainty around intellectual property ownership, licensing or use, or which could otherwise result in risk of damage to our business, reputation or financial results; changes in costs that impede our ability to implement new information technology systems or to operate and maintain current production technology; insufficient technology skills, which could lead to the inability to develop, modify or maintain our information systems; Strategic Risk growth or decline of our customer base due to new uses for our services or decline in existing services, including, but not limited to, the effect of the trend toward distributed generation at customer sites; the potential effects of negative publicity regarding our business practices, whether true or not, which could hurt our reputation and result in litigation or a decline in our common stock price; changes in our strategic business plans, which could be affected by any or all of the foregoing, including the entry into new businesses and/or the exit from existing businesses and the extent of our business development efforts where potential future business is uncertain; wholesale and retail competition including alternative energy sources, growth in customer-owned power resource technologies that displace utility-supplied energy or may be sold back to the utility, and alternative energy suppliers and delivery arrangements; non-regulated activities may increase earnings volatility and result in investment losses; the risk of municipalization or other forms of service territory reduction; External Mandates Risk changes in environmental laws, regulations, decisions and policies, including, but not limited to, regulatory responses to concerns regarding climate change, efforts to restore anadromous fish in areas currently blocked by dams, more stringent requirements related to air quality, water quality and waste management, present and potential environmental remediation costs and our compliance with these matters; the potential effects of initiatives, legislation or administrative rulemaking at the federal, state or local levels, including possible effects on our generating resources, prohibitions or restrictions on new or existing services, or restrictions on greenhouse gas emissions to mitigate concerns over climate changes, including future limitations on the usage and distribution of natural gas; political pressures or regulatory practices that could constrain or place additional cost burdens on our distribution systems through accelerated adoption of distributed generation or electric-powered transportation or on our energy supply sources, such as campaigns to halt fossil fuel-fired power generation and opposition to other thermal generation, wind turbines or hydroelectric facilities; failure to identify changes in legislation, taxation and regulatory issues that could be detrimental or beneficial to our overall business; policy and/or legislative changes in various regulated areas, including, but not limited to, environmental regulation, healthcare regulations and import/export regulations; increasing costs due to potential tariffs applied to energy commodities and/or equipment and materials. Financial Risk our ability to obtain financing through the issuance of debt and/or equity securities and access to our funds held with financial institutions, which could be affected by various factors including our credit ratings, interest rates, other capital market conditions and global economic conditions; changes in interest rates that affect borrowing costs, variable interest rate borrowing and the extent to which we recover interest costs through retail rates collected from customers; volatility in energy commodity markets that affect our ability to effectively hedge energy commodity risks, including cash flow impacts and requirements for collateral; volatility in the carbon emissions allowances market that could result in increased compliance costs; changes in actuarial assumptions, interest rates and the actual return on plan assets for our pension and other postretirement benefit plans, which could affect future funding obligations, pension and other postretirement benefit expense and the related liabilities; the outcome of legal proceedings and other contingencies; economic conditions in our service areas, including the economy's effects on customer demand for utility services; economic conditions nationally may affect the valuation of our unregulated portfolio companies; declining electricity demand related to customer energy efficiency, conservation measures and/or increased distributed generation and declining natural gas demand related to customer energy efficiency, conservation measures and/or increased electrification; industry and geographic concentrations which could increase our exposure to credit risks due to counterparties, suppliers and customers being similarly affected by changing conditions; deterioration in the creditworthiness of our customers; activist shareholders may result in additional costs and resources required in response to activist actions; Energy Commodity Risk volatility and illiquidity in wholesale energy markets, including exchanges, the availability of willing buyers and sellers, changes in wholesale energy prices that could affect operating income, cash requirements to purchase electricity and natural gas, value received for wholesale sales, collateral required of us by individual counterparties and/or exchanges in wholesale energy transactions and credit risk from such transactions, and the market value of derivative assets and liabilities; default or nonperformance on the part of parties from whom we purchase and/or sell capacity or energy; potential environmental regulations or lawsuits affecting our ability to utilize or resulting in the obsolescence of our power supply resources; explosions, fires, accidents, pipeline ruptures or other incidents that could limit energy supply to our facilities or our surrounding territory, which could result in a shortage of commodities in the market that could increase the cost of replacement commodities from other sources; Compliance Risk changes in laws, regulations, decisions and policies at the federal, state or local levels, which could materially impact both our electric and gas operations and costs of operations; and the ability to comply with the terms of the licenses and permits for our hydroelectric or thermal generating facilities at cost-effective unsubscribe from Avista's news release distribution, send reply message to [email protected]. Issued by: Avista Corporation Contact: Media: Lena Funston (509) 495-8090 [email protected] Investors: Stacey Walters (509) 495-2046 [email protected] Avista 24/7 Media Access (509) 495-4174
Associated Press
04-08-2025
- Business
- Associated Press
Avista Foundation awards 49 grants supporting youth and education across the Northwest
SPOKANE, Wash., Aug. 04, 2025 (GLOBE NEWSWIRE) -- In its second quarter, the Avista Foundation awarded $175,950 in grants to nonprofit organizations across Washington, Idaho and Oregon to support education and youth development. 'It's amazing what can happen when kids are given the tools to dream big and the support to chase those dreams. We're proud to stand behind the programs that are helping local youth grow, learn, and thrive,' said Avista President and CEO Heather Rosentrater. The second quarter grants support a range of organizations and programs. A few examples include: The full list of second-quarter awards includes the following: Organizations can see their eligibility and apply for funding by visiting About the Avista Foundation Since its establishment in 2002, the Avista Foundation has made grants totaling over $17 million. The foundation focuses its giving in the areas of vulnerable and limited-income populations, education, and economic and cultural vitality. It is a separate, non-profit organization established by Avista Corp., and does not receive funding from Avista Utilities or AEL&P customers through rates. The Avista logo is a trademark of Avista Corporation. To unsubscribe from Avista's news release distribution, send reply message to [email protected] Contact: Media: Ariana Barrey (509) 279-3308, [email protected] Avista 24/7 Media Access: (509) 495-4174
Yahoo
10-06-2025
- Business
- Yahoo
Avista reaches all-party, all issues settlement in Idaho general rate cases
If approved, new rates would take effect beginning Sept. 2025 and Sept. 2026 SPOKANE, Wash., June 09, 2025 (GLOBE NEWSWIRE) -- Avista (NYSE: AVA), the Staff of the Idaho Public Utilities Commission, Clearwater Paper Corporation, Idaho Forest Group, LLC and Walmart Inc., parties to the Company's electric and natural gas general rate cases, have reached a settlement agreement that has been submitted to the Idaho Public Utilities Commission for its consideration, and which would resolve all issues in the proceeding. If approved, the settlement agreement is designed to increase annual base electric revenues by $19.5 million or 6.3%, effective Sept. 1, 2025, and by $14.7 million or 4.5%, effective Sept. 1, 2026. For natural gas, the settlement agreement is designed to increase annual base natural gas revenues by $4.6 million or 9.2%, effective Sept. 1, 2025, and reduce base revenues by $0.2 million or 0.4%, effective Sept. 1, 2026. The settlement capital structure includes a 9.6% return on equity (ROE) with a common equity ratio of 50% and a rate of return (ROR) on rate base of 7.28%. 'This settlement agreement will provide new rates in Idaho that are fair and reasonable for our customers, the Company, and our shareholders,' said Heather Rosentrater, Avista President and CEO. 'This is a constructive outcome. Our customers will benefit from longer recovery periods for certain deferred costs, which mitigates the bill impact of improved recovery of our costs to serve our customers. This agreement provides us with the opportunity to earn a fair return in Idaho while we invest in and maintain our infrastructure so we can continue to provide the reliable energy our customers expect.' Residential Customer BillsIf the settlement is approved, a residential electric customer using an average of 939 kilowatt hours per month would see a 6.7% billed increase of $6.95 per month for a revised monthly bill of $111.25 effective Sept. 1, 2025, and a 4.7% billed increase of $5.22 per month for a revised monthly bill of $116.47 effective Sept. 1, 2026. A residential natural gas customer using an average of 66 therms per month would see a billed 6.8% increase of $4.11 per month for a revised monthly bill of $64.74 effective Sept. 1, 2025, and no rate change effective Sept. 1, 2026. 2025 & 2026 Electric Revenue Impact by Rate Schedule Rate Schedule Description 2025 Billing Change 2026 Billing Change Residential Service Schedule 1 6.7% 4.7% General Service Schedules 11 & 12 6.7% 4.8% Large General Service Schedules 21 & 22 8.0% 5.6% Extra Large General Service Schedule 25 6.5% 4.6% Extra Large General Service 25P Schedule 25P 1.6% 1.2% Pumping Service Schedules 31 & 32 8.0% 5.6% Street & Area Lights Schedules 41 - 49 4.6% 3.3% Total 6.6% 4.6% 2025 & 2026 Natural Gas Revenue Impact by Rate Schedule Rate Schedule Description 2025 Billing Change 2026 Billing Change General Service Schedule 101 6.7% 0.0% Large General Service Schedules 111 & 112 0.0% - 1.1% Interruptible Service Schedules 131 & 132 0.0% 0.0% Transportation Service Schedule 146 0.0% - 2.6% Total 5.4% - 0.2% The actual percentage rate change will vary by customer rate schedule and will depend on how much energy a customer uses. Avista serves more than 145,000 electric and 93,000 natural gas customers in Idaho. Avista's Original RequestAvista's original request was designed to increase annual base revenues by $43.0 million (or 14.4% on a billed basis) effective on Sept. 1, 2025, and $17.7 million (or 5.2% on a billed basis) effective on Sept. 1, 2026. For natural gas, the rate request was designed to increase annual revenues by $8.8 million (or 10.3% on a billed basis) effective on Sept. 1, 2025, and $1.0 million (or 1.0% on a billed basis) effective on Sept. 1, 2026. The electric and natural gas requests were based on a proposed rate of return (ROR) on rate base of 7.68% with a common equity ratio of 50% and a 10.4% return on equity (ROE). Customer ResourcesTo assist customers in managing their energy bills, Avista offers services for customers such as comfort level billing, payment arrangements and Customer Assistance Referral and Evaluation Services (CARES), which provide assistance to medically vulnerable customers through referrals to area agencies and churches for help with housing, utilities, medical assistance and other needs. Avista provides energy efficiency and outreach programs that include rebates and incentives as well as tips and resources to help customers manage their energy use and energy bills. Customers can learn more at About Avista Corp. Avista Corp. is an energy company involved in the production, transmission and distribution of energy as well as other energy-related businesses. Avista Utilities is our operating division that provides electric service to 422,000 customers and natural gas to 383,000 customers. Our service territory covers 30,000 square miles in eastern Washington, northern Idaho and parts of southern and eastern Oregon, with a population of 1.7 million. AERC is an Avista subsidiary that, through its subsidiary AEL&P, provides retail electric service to 18,000 customers in the city and borough of Juneau, Alaska. Our stock is traded under the ticker symbol 'AVA'. For more information about Avista, please visit This news release contains forward-looking statements regarding the company's current expectations. Forward-looking statements are all statements other than historical facts. Such statements speak only as of the date of the news release and are subject to a variety of risks and uncertainties, many of which are beyond the company's control, which could cause actual results to differ materially from the expectations. These risks and uncertainties include, in addition to those discussed herein, all of the factors discussed in the company's Annual Report on Form 10-K for the year ended Dec. 31, 2024 and the Quarterly Report on Form 10-Q for the quarter ended March 31, 2025. SOURCE: Avista Corporation -2516- Contact:Media: Lena Funston (509) 495-8090, Stacey Walters (509) 495-2046, Avista 24/7 Media Access (509) 495-4174
Yahoo
09-06-2025
- Business
- Yahoo
Avista reaches all-party, all issues settlement in Idaho general rate cases
If approved, new rates would take effect beginning Sept. 2025 and Sept. 2026 SPOKANE, Wash., June 09, 2025 (GLOBE NEWSWIRE) -- Avista (NYSE: AVA), the Staff of the Idaho Public Utilities Commission, Clearwater Paper Corporation, Idaho Forest Group, LLC and Walmart Inc., parties to the Company's electric and natural gas general rate cases, have reached a settlement agreement that has been submitted to the Idaho Public Utilities Commission for its consideration, and which would resolve all issues in the proceeding. If approved, the settlement agreement is designed to increase annual base electric revenues by $19.5 million or 6.3%, effective Sept. 1, 2025, and by $14.7 million or 4.5%, effective Sept. 1, 2026. For natural gas, the settlement agreement is designed to increase annual base natural gas revenues by $4.6 million or 9.2%, effective Sept. 1, 2025, and reduce base revenues by $0.2 million or 0.4%, effective Sept. 1, 2026. The settlement capital structure includes a 9.6% return on equity (ROE) with a common equity ratio of 50% and a rate of return (ROR) on rate base of 7.28%. 'This settlement agreement will provide new rates in Idaho that are fair and reasonable for our customers, the Company, and our shareholders,' said Heather Rosentrater, Avista President and CEO. 'This is a constructive outcome. Our customers will benefit from longer recovery periods for certain deferred costs, which mitigates the bill impact of improved recovery of our costs to serve our customers. This agreement provides us with the opportunity to earn a fair return in Idaho while we invest in and maintain our infrastructure so we can continue to provide the reliable energy our customers expect.' Residential Customer BillsIf the settlement is approved, a residential electric customer using an average of 939 kilowatt hours per month would see a 6.7% billed increase of $6.95 per month for a revised monthly bill of $111.25 effective Sept. 1, 2025, and a 4.7% billed increase of $5.22 per month for a revised monthly bill of $116.47 effective Sept. 1, 2026. A residential natural gas customer using an average of 66 therms per month would see a billed 6.8% increase of $4.11 per month for a revised monthly bill of $64.74 effective Sept. 1, 2025, and no rate change effective Sept. 1, 2026. 2025 & 2026 Electric Revenue Impact by Rate Schedule Rate Schedule Description 2025 Billing Change 2026 Billing Change Residential Service Schedule 1 6.7% 4.7% General Service Schedules 11 & 12 6.7% 4.8% Large General Service Schedules 21 & 22 8.0% 5.6% Extra Large General Service Schedule 25 6.5% 4.6% Extra Large General Service 25P Schedule 25P 1.6% 1.2% Pumping Service Schedules 31 & 32 8.0% 5.6% Street & Area Lights Schedules 41 - 49 4.6% 3.3% Total 6.6% 4.6% 2025 & 2026 Natural Gas Revenue Impact by Rate Schedule Rate Schedule Description 2025 Billing Change 2026 Billing Change General Service Schedule 101 6.7% 0.0% Large General Service Schedules 111 & 112 0.0% - 1.1% Interruptible Service Schedules 131 & 132 0.0% 0.0% Transportation Service Schedule 146 0.0% - 2.6% Total 5.4% - 0.2% The actual percentage rate change will vary by customer rate schedule and will depend on how much energy a customer uses. Avista serves more than 145,000 electric and 93,000 natural gas customers in Idaho. Avista's Original RequestAvista's original request was designed to increase annual base revenues by $43.0 million (or 14.4% on a billed basis) effective on Sept. 1, 2025, and $17.7 million (or 5.2% on a billed basis) effective on Sept. 1, 2026. For natural gas, the rate request was designed to increase annual revenues by $8.8 million (or 10.3% on a billed basis) effective on Sept. 1, 2025, and $1.0 million (or 1.0% on a billed basis) effective on Sept. 1, 2026. The electric and natural gas requests were based on a proposed rate of return (ROR) on rate base of 7.68% with a common equity ratio of 50% and a 10.4% return on equity (ROE). Customer ResourcesTo assist customers in managing their energy bills, Avista offers services for customers such as comfort level billing, payment arrangements and Customer Assistance Referral and Evaluation Services (CARES), which provide assistance to medically vulnerable customers through referrals to area agencies and churches for help with housing, utilities, medical assistance and other needs. Avista provides energy efficiency and outreach programs that include rebates and incentives as well as tips and resources to help customers manage their energy use and energy bills. Customers can learn more at About Avista Corp. Avista Corp. is an energy company involved in the production, transmission and distribution of energy as well as other energy-related businesses. Avista Utilities is our operating division that provides electric service to 422,000 customers and natural gas to 383,000 customers. Our service territory covers 30,000 square miles in eastern Washington, northern Idaho and parts of southern and eastern Oregon, with a population of 1.7 million. AERC is an Avista subsidiary that, through its subsidiary AEL&P, provides retail electric service to 18,000 customers in the city and borough of Juneau, Alaska. Our stock is traded under the ticker symbol 'AVA'. For more information about Avista, please visit This news release contains forward-looking statements regarding the company's current expectations. Forward-looking statements are all statements other than historical facts. Such statements speak only as of the date of the news release and are subject to a variety of risks and uncertainties, many of which are beyond the company's control, which could cause actual results to differ materially from the expectations. These risks and uncertainties include, in addition to those discussed herein, all of the factors discussed in the company's Annual Report on Form 10-K for the year ended Dec. 31, 2024 and the Quarterly Report on Form 10-Q for the quarter ended March 31, 2025. SOURCE: Avista Corporation -2516- Contact:Media: Lena Funston (509) 495-8090, Stacey Walters (509) 495-2046, Avista 24/7 Media Access (509) 495-4174
Yahoo
04-06-2025
- Climate
- Yahoo
Avista launches safety mode as conditions move toward fire season
Jun. 3—Avista Utilities announced on Tuesday that with the onset of summer-like conditions and increasing wildfire danger in the region, it has moved to what it calls "Fire Safety Mode," which will lead to temporary changes to its power line operations. The utility has done this for two decades, but it has renewed importance following the devastating Gray and Oregon Road fires, which destroyed a combined 366 homes and 710 structures on August 18, 2023. Together, those blazes were the most destructive in state history. "Wildfire preparedness is not just a seasonal effort — it's a year-round responsibility," Avista CEO Heather Rosentrater said in a news release. "We've invested in infrastructure, technology, and operational practices that help us respond to changing conditions and protect the communities we serve. Our focus on safety is foundational to all we do." Since launching what it calls its Wildfire Resiliency Plan in 2020, Avista has replaced wooden transmission poles with steel, and crews have installed fire-retardant mesh at pole bases and upgraded wooden crossarms to fiberglass. In other areas, crews will be converting overhead power lines to underground wires to further reduce the risk to damage from fire and to limit outages caused by tree limbs falling into the lines, according to the release. Following the Gray and Oregon Road fires, Avista for the first time announced that it could implement a Public Safety Power Shutoff, which is a targeted-manual power outage if an area of the infrastructure is under severe risk of fire. For that possibility, the utility continually needs updated information from some customers. It asks customers to make sure Avista has correct contact information so they can reach out to them during emergencies. It also wants to know whether anyone in the home has medical devices that rely on electricity. That information will be added to a list of customers who would receive extra notifications in case of an extended outage. All other customers are urged to keep emergency supplies together in one place, such as flashlights, portable charges and a few days' food for residents and their pets.
