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8-K
0000104918falseAVISTA CORP00001049182023-08-032023-08-03

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 03, 2023

 

 

AVISTA CORPORATION

(Exact name of Registrant as Specified in Its Charter)

 

 

Washington

001-03701

91-0462470

(State or Other Jurisdiction
of Incorporation)

(Commission File Number)

(IRS Employer
Identification No.)

 

 

 

 

 

1411 East Mission Avenue

 

Spokane, Washington

 

99202-2600

(Address of Principal Executive Offices)

 

(Zip Code)

 

Registrant’s Telephone Number, Including Area Code: 509 489-0500

 

 

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class

 

Trading
Symbol(s)

 


Name of each exchange on which registered

Common Stock

 

AVA

 

The New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

Section 8 - Other Events

Item 8.01 Other Events.

On August 3, 2023, Avista Corporation (Avista Corp. or the Company) and all the parties to the Company's natural gas general rate case reached a settlement agreement that has been submitted to the Public Utility Commission of Oregon (OPUC) for its consideration. If approved, new rates would take effect in January 2024.

The settlement agreement is designed to increase annual base natural gas revenues by $7.2 million (or 9.4 percent). The agreed upon revenue requirement is predicated on a proposed rate of return on rate base of 7.235 percent with a common equity ratio of 50 percent and a 9.5 percent return on equity.

The Company originally requested an increase to annual base natural gas revenues of $11.0 million (or 14.4 percent), with a proposed rate of return on rate base of 7.59 percent, a common equity ratio of 50 percent, and a return on equity of 10.25 percent.

 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

 

 

Avista Corporation

 

 

 

(Registrant)

 

 

 

 

Date:

August 8, 2023

By:

/s/ Kevin J. Christie

 

 

 

Kevin J. Christie
Senior Vice President, Chief Financial Officer,
Treasurer and Regulatory Affairs Officer