Avista receives approval of all-party, all-issues settlement in Oregon general rate case
27 Octubre 2023 - 6:05AM
Avista
(NYSE:AVA) received approval from
the Public Utility Commission of Oregon (OPUC or
Commission) of the settlement agreement that was filed
on August 3, 2023, concluding the Company’s natural gas
general rate case.
The approved rates are designed to increase annual natural gas
revenues by $7.16 million or 4.7%, effective Jan. 1,
2024. The settlement capital structure includes a 9.5% return on
equity (ROE) with a common equity ratio of 50% and a rate of return
(ROR) on rate base of 7.235%.
“The Commission’s decision provides new natural gas rates
in Oregon that are reasonable for our customers, the
Company and our shareholders,” said Dennis Vermillion, Avista
president and CEO. “This outcome provides us the opportunity to
earn a fair return in Oregon and supports Avista’s
efforts to make key capital investments so we can continue to
provide the reliable energy our customers expect.”
Avista serves more than 106,000 natural gas customers
in Oregon.
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 the 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 1.6
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, 2022 and the Quarterly Report on Form 10-Q
for the quarter ended June 30, 2023.
SOURCE: Avista Corporation
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Contact:
Media: Lena Funston (509) 495-8090
lena.funston@avistacorp.comInvestors: Stacey Wenz (509) 495-2046,
stacey.wenz@avistacorp.comAvista 24/7 Media Access (509)
495-4174
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