AVA - Avista reaches multiparty settlement in Idaho general rate case

2023-06-14 18:53:56 ET

Avista ( NYSE: AVA ) said Wednesday it reached a settlement agreement in the Idaho general rate case with Idaho Public Utilities Commission staff, Clearwater Paper, Idaho Forest Group and Walmart, which would resolve all issues in the proceeding.

The remaining joint party, the Idaho Conservation League/NW Energy Coalition, did not join in the settlement.

If approved by the Idaho PUC, the settlement agreement is designed to increase annual base electric revenues by $22.1M (or 8%) effective September 2023 and by $4.3M (or 1.4%) effective September 2024, and to increase annual base natural gas revenues by $1.3M (or 2.7%) effective September 2023 and by $0.003M (or 0.01%) effective September 2024.

Avista ( AVA ) said the settlement capital structure includes a 9.4% return on equity with a common equity ratio of 50% and a rate of return on rate base of 7.19%.

The company's original request was designed to increase annual electric base revenues by $37.5M (or 14.7% on a billed basis) effective September 2023, and $13.2M (or 4.5%) effective September 2024, and to increase annual natural gas base revenues by $2.8M (or 2.7%) effective September 2023 and $0.1M (or 0.1%) effective September 2024.

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