SPOKANE, Wash. April 29, 2022, 4:05 p.m. PST:  Avista (NYSE: AVA) has made Purchased Gas Cost Adjustment (PGA) filings with the utility commissions in Washington and Idaho that, if approved, are designed to increase overall natural gas revenue 12.6% and 10.5%, respectively, effective July 1, 2022. These filings have no impact on Avista’s earnings.

PGA requests are typically filed annually to balance the actual cost of wholesale natural gas purchased by Avista to serve customers with the amount presently included in customer’s rates. 
Avista does not make a profit on, or markup, the wholesale cost of natural gas; PGAs ensure customers pay what Avista pays, dollar for dollar, only at a more predictable and stable rate throughout the year.

Since the last PGA filings were made, the price of wholesale natural gas has continued to rise with dramatic sustained increases since late March, with prices reaching levels not seen in over 13 years. About 40% of an Avista natural gas customer's bill is the combined cost of purchasing natural gas on the wholesale market and transporting it to Avista's system. 

As the effects of inflation impact the entire country, the cost of doing business is going up for all companies and industries. This filing is an effort to incrementally align customers’ rates with the market conditions. 

Natural Gas Customer Bills 
Washington: If approved, residential natural gas customers using an average of 67 therms per month would see their monthly bills change from $64.86 to $72.66, an increase of $7.80 per month, or approximately 11.7%.

The percentage change varies by rate schedule and is dependent upon how much energy customers on the respective rate schedules use.  If approved, natural gas customers would see the following rate adjustments:

             General Service - Schedule 101 & 102                       11.7%
             Large General Service - Schedule 111 & 112             17.0%
             Interruptible Sales Service - Schedule 131 & 132      19.8%
             Transportation Service - Schedule 146                        0.0%
             Overall                                                                               12.6%
 

Idaho: If approved, residential natural gas customers using an average of 63 therms per month would see their monthly bills change from $55.86 to $61.30, an increase of $5.44 per month, or approximately 9.7%.

The percentage change varies by rate schedule and is dependent upon how much energy customers on the respective rate schedules use.  If approved, natural gas customers would see the following rate adjustments:

             General Service - Schedule 1    01                            9.7%
             Large General Service - Schedule 111                     13.8%
             Large General Service - Schedule 112                     14.9%
             Interruptible Sales Service - Schedule 131 & 132     0.0%
             Transportation Service - Schedule 146                     0.0%
             Overall                                                                            10.5%

To help customers proactively manage their energy use, Avista offers services to those who may need and qualifies for assistance in managing their energy bills such as comfort level billing, payment arrangements and special circumstantial referrals to area agencies and churches for help with housing, utilities, medical assistance and other needs. Avista also provides funding for energy assistance programs which are administered through community action agencies. 

Energy efficiency and outreach programs are also offered which 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 403,000 customers and natural gas to 369,000 customers. Its 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. Alaska Energy and Resources Company is an Avista subsidiary that provides retail electric service in the city and borough of Juneau, Alaska, through its subsidiary Alaska Electric Light and Power Company. Avista 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, 2021.

SOURCE: Avista Corporation 

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