|By Marketwired .||
|August 29, 2014 05:32 PM EDT||
SPOKANE, WA--(Marketwired - August 29, 2014) - Avista has filed its 2014 Natural Gas Integrated Resource Plan (IRP) with state regulators in Washington, Idaho and Oregon. The plan forecasts sufficient natural gas resources well into the future, indicating that access to natural gas supply through the acquisition of additional pipeline resources will not be needed until 2034 or later.
The IRP is submitted to the public utility commissions every two years as part of Avista's regulatory commitment. Each IRP is a thoroughly researched, data-driven document that looks into the projected future energy needs of customers and determines the most effective plan of action for reliably meeting those energy needs. In addition to Avista's professional energy analysts, a Technical Advisory Committee that includes public utility commission staff, peer natural gas utilities, customers, and other stakeholders participated in the development of the IRP.
"This planning is a significant component in meeting our obligation to continue to provide reliable natural gas service to our customers well into the future," said Jason Thackston, Avista's senior vice president of energy resources. "This comprehensive plan addresses the resources available to meet our customers' natural gas needs over the long term in a reliable, cost-effective manner."
Avista's last Natural Gas IRP was filed in August 2012. The slow recovery from the recession has continued to impact future customer growth projections, reducing the long-term demand forecasts. Growth is expected to be at just over 1 percent, a decline from the growth of 1.8 percent forecast in the 2012 IRP.
The utility commissions will review the document and will provide an opportunity for comment. The IRP is available in electronic form at www.avistautilities.com.
About Avista Utilities
Avista Utilities is involved in the production, transmission and distribution of energy. We provide energy services and electricity to 365,000 customers and natural gas to 325,000 customers in a service territory that 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 Utilities is an operating division of Avista Corp. (NYSE: AVA). For more information, please visit www.avistautilities.com.
The Avista logo is a trademark of Avista Corporation.
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, 2013 and the Quarterly Report on Form 10-Q for the quarter ended June 30, 2014.
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