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 Bills
If 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.

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 Request
Avista’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 Resources
To 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 www.myavista.com.

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 www.avistacorp.com.

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

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Contact:
Media: Lena Funston (509) 495-8090, lena.funston@avistacorp.com
Investors: Stacey Walters (509) 495-2046, stacey.walters@avistacorp.com
Avista 24/7 Media Access (509) 495-4174

Source: Avista Corporation