Welcome!

News Feed Item

Avista Receives Approval in Idaho Electric and Natural Gas General Rate Requests

Idaho Customers Provided More Rates Certainty Over the Next Two Years

SPOKANE, WA -- (Marketwire) -- 03/27/13 -- Avista (NYSE: AVA) received approval today from the Idaho Public Utilities Commission (IPUC) on the multi-party settlement agreement, concluding the company's electric and natural gas rate requests. New rates will be effective in two phases: April 1, 2013, and Oct. 1, 2013. Avista made the requests to the IPUC on Oct. 11, 2012, followed by a multi--party settlement agreement on Feb. 6, 2013.

On April 1, 2013, natural gas base rates will increase by 4.9 percent or $3.1 million. A residential natural gas customer in Idaho using an average 60 therms per month will see a $2.82 per month increase for a revised monthly bill of $55.37. There will be no change in base rates for electric customers; however, the settlement provides for recovery of the costs of the Palouse Wind Project through the Power Cost Adjustment mechanism.

Beginning Oct. 1, 2013, residential natural gas customers will see an additional increase of $0.31 per month for a revised monthly bill of $55.68. Offsetting the 2.0 percent, or $1.3 million, Oct. 1 increase is a $1.6 million credit to customers. This credit will be returned to natural gas customers from Oct. 1, 2013 through Dec. 31, 2014, making the net annual average natural gas rate increase effective Oct. 1, 2013, 0.3 percent.

Residential electric customers using an average 930 kilowatt hours per month will see an increase of $2.04 beginning Oct. 1, 2013, for a revised monthly bill of $80.73. The approved overall 3.1 percent, or $7.8 million in increased annual revenues, is being offset by a $3.9 million credit resulting from a payment made to Avista by the Bonneville Power Administration relating to its prior use of Avista's transmission system. This credit is being returned to Idaho electric customers from Oct. 1, 2013, through Dec. 31, 2014, so the net annual average electric rate increase to customers effective Oct. 1, 2013, will be 1.9 percent.

The $1.6 million credit to natural gas customers resulting from deferred natural gas costs and the $3.9 million credit to electric customers from Bonneville Power Administration relating to the prior use of Avista's transmission system will not impact company earnings.

As a result of the approval by the IPUC, Avista may file a general rate case in Idaho in 2014. However, any increase in base retail rates would not take effect prior to Jan. 1, 2015. This does not preclude the company from filing other rate adjustments such as the Power Cost Adjustment (PCA) and Purchased Gas Adjustment (PGA).

The settlement agreement reflects a 50% equity layer and a 9.8% return on equity (ROE).

The settlement also includes an after-the-fact earnings test for 2013 and 2014, such that if Avista, on a consolidated basis for electric and natural gas operations in Idaho, earns more than 9.8% ROE, Avista would refund to customers 50% of any earnings above the 9.8%.

"The outcome of this rate request gives our Idaho customers more certainty in their energy rates for the next two years while providing a framework for positive outcomes for our shareholders," said Dennis Vermillion, Avista Corp. senior vice president and president of Avista Utilities. "Customers continue to have their energy prices at some of the lowest energy prices in the Northwest and the nation."

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 362,000 customers and natural gas to 323,000 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 1.5 million. Avista's primary, non-utility subsidiary is Ecova, an energy and sustainability management company with over 700 expense management customers, representing more than 600,000 sites. 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, 2012.

Contact:
Media:
Debbie Simock
(509) 495-8031
[email protected]

Investors:
Jason Lang
(509) 495-2930
[email protected]

Avista 24/7 Media Access
(509) 495-4174

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Enterprises have taken advantage of IoT to achieve important revenue and cost advantages. What is less apparent is how incumbent enterprises operating at scale have, following success with IoT, built analytic, operations management and software development capabilities – ranging from autonomous vehicles to manageable robotics installations. They have embraced these capabilities as if they were Silicon Valley startups. As a result, many firms employ new business models that place enormous impor...
The next XaaS is CICDaaS. Why? Because CICD saves developers a huge amount of time. CD is an especially great option for projects that require multiple and frequent contributions to be integrated. But… securing CICD best practices is an emerging, essential, yet little understood practice for DevOps teams and their Cloud Service Providers. The only way to get CICD to work in a highly secure environment takes collaboration, patience and persistence. Building CICD in the cloud requires rigorous a...
SYS-CON Events announced today that Dasher Technologies will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Dasher Technologies, Inc. ® is a premier IT solution provider that delivers expert technical resources along with trusted account executives to architect and deliver complete IT solutions and services to help our clients execute their goals, plans and objectives. Since 1999, we'v...
SYS-CON Events announced today that MIRAI Inc. will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. MIRAI Inc. are IT consultants from the public sector whose mission is to solve social issues by technology and innovation and to create a meaningful future for people.
Data scientists must access high-performance computing resources across a wide-area network. To achieve cloud-based HPC visualization, researchers must transfer datasets and visualization results efficiently. HPC clusters now compute GPU-accelerated visualization in the cloud cluster. To efficiently display results remotely, a high-performance, low-latency protocol transfers the display from the cluster to a remote desktop. Further, tools to easily mount remote datasets and efficiently transfer...
Companies are harnessing data in ways we once associated with science fiction. Analysts have access to a plethora of visualization and reporting tools, but considering the vast amount of data businesses collect and limitations of CPUs, end users are forced to design their structures and systems with limitations. Until now. As the cloud toolkit to analyze data has evolved, GPUs have stepped in to massively parallel SQL, visualization and machine learning.
In his session at 21st Cloud Expo, Raju Shreewastava, founder of Big Data Trunk, will provide a fun and simple way to introduce Machine Leaning to anyone and everyone. Together we will solve a machine learning problem and find an easy way to be able to do machine learning without even coding. Raju Shreewastava is the founder of Big Data Trunk (www.BigDataTrunk.com), a Big Data Training and consulting firm with offices in the United States. He previously led the data warehouse/business intellige...
SYS-CON Events announced today that TidalScale, a leading provider of systems and services, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. TidalScale has been involved in shaping the computing landscape. They've designed, developed and deployed some of the most important and successful systems and services in the history of the computing industry - internet, Ethernet, operating s...
SYS-CON Events announced today that TidalScale will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. TidalScale is the leading provider of Software-Defined Servers that bring flexibility to modern data centers by right-sizing servers on the fly to fit any data set or workload. TidalScale’s award-winning inverse hypervisor technology combines multiple commodity servers (including their ass...
Recently, REAN Cloud built a digital concierge for a North Carolina hospital that had observed that most patient call button questions were repetitive. In addition, the paper-based process used to measure patient health metrics was laborious, not in real-time and sometimes error-prone. In their session at 21st Cloud Expo, Sean Finnerty, Executive Director, Practice Lead, Health Care & Life Science at REAN Cloud, and Dr. S.P.T. Krishnan, Principal Architect at REAN Cloud, will discuss how they b...
Gemini is Yahoo’s native and search advertising platform. To ensure the quality of a complex distributed system that spans multiple products and components and across various desktop websites and mobile app and web experiences – both Yahoo owned and operated and third-party syndication (supply), with complex interaction with more than a billion users and numerous advertisers globally (demand) – it becomes imperative to automate a set of end-to-end tests 24x7 to detect bugs and regression. In th...
Amazon is pursuing new markets and disrupting industries at an incredible pace. Almost every industry seems to be in its crosshairs. Companies and industries that once thought they were safe are now worried about being “Amazoned.”. The new watch word should be “Be afraid. Be very afraid.” In his session 21st Cloud Expo, Chris Kocher, a co-founder of Grey Heron, will address questions such as: What new areas is Amazon disrupting? How are they doing this? Where are they likely to go? What are th...
We all know that end users experience the Internet primarily with mobile devices. From an app development perspective, we know that successfully responding to the needs of mobile customers depends on rapid DevOps – failing fast, in short, until the right solution evolves in your customers' relationship to your business. Whether you’re decomposing an SOA monolith, or developing a new application cloud natively, it’s not a question of using microservices – not doing so will be a path to eventual b...
SYS-CON Events announced today that IBM has been named “Diamond Sponsor” of SYS-CON's 21st Cloud Expo, which will take place on October 31 through November 2nd 2017 at the Santa Clara Convention Center in Santa Clara, California.
Infoblox delivers Actionable Network Intelligence to enterprise, government, and service provider customers around the world. They are the industry leader in DNS, DHCP, and IP address management, the category known as DDI. We empower thousands of organizations to control and secure their networks from the core-enabling them to increase efficiency and visibility, improve customer service, and meet compliance requirements.