Avista Receives Commission Decision in Washington General Rate Cases
The Commission approved rates designed to provide a 1.6 percent, or
Throughout the rate case process, certain circumstances and costs changed, causing Avista to revise its overall proposed rate requests downward, especially for its electric operations. Avista's need for electric rate relief was reduced primarily due to a decrease in power supply costs of approximately
The natural gas revenue increase approved by the Commission is related to Avista's ownership and operating costs to run the natural gas business. Changes in the commodity costs of natural gas for natural gas customers are reflected in Avista's annual Purchased Gas Cost Adjustment, which is generally effective
"We are pleased with the Commission's decision and its recognition that Avista's investment in utility infrastructure and its operating expenses are increasing at a faster pace than revenues. This is a positive outcome that provides us the opportunity to continue to recover the costs of serving our customers and investing in our systems while maintaining a fair return for our shareholders," said
"In addition, we are pleased that our
Avista anticipates issuing 2016 earnings guidance during the fourth quarter 2015 earnings call in
Low Income Rate Assistance Program (LIRAP)
Recognizing the impact of rising prices on customers, especially limited income and senior customers, the Commission approved a multi-year funding plan for Avista's Low Income Rate Assistance Program (LIRAP). LIRAP provides direct energy bill assistance for limited income and senior customers. LIRAP is funded through a separate tariff. The increase in LIRAP funding results in a
Expiring Customer Rebate
Avista's electric customers in
Residential Customer Bill
As a result of the Commission's decision, including the changes in LIRAP and the expiring ERM rebate, residential electric customers using an average of 966 kilowatt hours per month would see an increase in their monthly bill of
Residential natural gas customers using an average of 68 therms per month would see a total bill increase of
For more information about the general rate cases, visit www.utc.wa.gov.
About
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
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