Company’s filing seeks to recover infrastructure investments and expenses necessary to serve customersSPOKANE, Wash., Jan. 31, 2025 (GLOBE NEWSWIRE) -- Today, Avista (NYSE: AVA) has filed a multi-year rate plan with the Idaho Public Utilities Commission (IPUC or Commission) that would allow the Company to recover costs for fixed expenses and ongoing investments to infrastructure, technology and more. If approved, new rates would be effective in Sept. 2025 and Sept. 2026. “The cost of delivering safe and rel ...

Core Points - The Avista Foundation awarded $54,650 to 21 nonprofit organizations in the fourth quarter of 2024 to support environmental initiatives and arts and culture efforts [1] - In total, the foundation awarded $563,285 to 125 nonprofit organizations in 2024 as part of its competitive grant program [2] - The foundation's grants aim to create a meaningful impact across communities, fostering sustainability and cultural vitality [3] Grant Details - The fourth-quarter grants included various organizations such as: - APOD Productions Inc. (Idaho) - $1,000 - CDA Youth Orchestra (Idaho) - $500 - Community Band of the Palouse (Washington) - $2,000 - Feast Collective (Washington) - $4,000 - Friends of Scotchman Peaks Wilderness (Idaho) - $1,200 - Klamath Watershed Partnership (Oregon) - $5,000 - National Forest Foundation (Alaska) - $7,500 - Spokane Youth Symphony (Washington) - $2,500 - Other organizations received varying amounts [3] Foundation Overview - Since its establishment in 2002, the Avista Foundation has granted over $17 million, focusing on vulnerable populations, education, and cultural initiatives [4] - The foundation operates separately from Avista Utilities and does not receive funding through customer rates [5]

Company Overview - Avista Corp. is an energy company engaged in the production, transmission, and distribution of energy, along with other energy-related businesses [3] - Avista Utilities, a division of Avista, provides electric service to 418,000 customers and natural gas to 382,000 customers across a service territory of 30,000 square miles in eastern Washington, northern Idaho, and parts of southern and eastern Oregon, serving a population of 1.7 million [3] - The company also has a subsidiary, Alaska Energy and Resources Company, which provides retail electric service to 18,000 customers in Juneau, Alaska [3] Upcoming Events - Avista Corp. will hold its quarterly conference call and webcast to discuss fourth quarter 2024 results on February 26, 2025, at 10:30 a.m. Eastern Standard Time [1] - A news release with fourth quarter 2024 earnings information will be issued at 7:05 a.m. Eastern Standard Time on the same day [1] - Access to the call requires pre-registration via the Presentations and Events link on Avista's website, and a replay will be available for one year [2]

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In a world where explosive investment gains are profiled on major news outlets on a daily basis, many investors are tempted to shoot for the moon. Three decades and even more stock market cycles have taught us at 2nd Market Capital that it is the singles and doubles that drive long-term performance. With that in mind, we would like to discuss a particularly reliable investment: Avista Corporation (NYSE:AVA). Avista is a small electric and gas utility operating in the northwestern U.S. Like most utilities, i ...

Will issue Request for Proposals (RFP) to ensure reliable service in the futureSPOKANE, Wash., Jan. 02, 2025 (GLOBE NEWSWIRE) -- Avista Utilities, an operating division of Avista Corp. (NYSE: AVA), has filed its 2025 Electric Integrated Resource Plan (IRP) with the Washington Utilities and Transportation Commission and the Idaho Public Utilities Commission. Avista produces an electric IRP every two years detailing projected growth in electricity demand and the new resources needed to serve customers over th ...

The latest environmental, social and governance (ESG) information can be found at avistacorp.com. SPOKANE, Wash., Dec. 23, 2024 (GLOBE NEWSWIRE) -- Today, Avista (NYSE: AVA) published its latest Corporate Responsibility report and other environmental, social and governance (ESG) information on its corporate website, avistacorp.com. The content reports on Avista’s operations and includes commitments in four areas: environment, people, customers and communities, and ethical governance. The latest report inclu ...

Company pleased with the fair and balanced decision for the Company and its customersSPOKANE, Wash., Dec. 23, 2024 (GLOBE NEWSWIRE) -- Avista's (NYSE: AVA) electric and natural gas general rate cases filed in January 2024 have concluded, with an order from the Washington Utilities and Transportation Commission (Commission) approving a two-year rate plan that will change electric and natural gas rates, beginning Jan. 1, 2025, and Jan. 1, 2026. For electric operations, the Commission approved rates designed t ...

Financial Data and Key Metrics Changes - Consolidated earnings for Q3 2024 were $0.23 per diluted share, up from $0.19 in Q3 2023, with year-to-date earnings at $1.44 per diluted share compared to $1.14 last year [5] Business Line Data and Key Metrics Changes - Avista Utilities showed continued improvement in Q3 2024, largely due to general rate cases, despite a pre-tax expense of $3.2 million under the Energy Recovery Mechanism (ERM) [25] - AEL&P's results were in line with expectations, on track to meet full-year earnings targets [26] Market Data and Key Metrics Changes - The other businesses segment is expected to incur a net loss of $0.04 to $0.06 per diluted share in 2024, primarily due to mark-to-market valuations [30][41] Company Strategy and Development Direction - The company is focused on regulatory strategy, with expectations for a constructive rate order from Washington general rate cases in mid-December and plans to file a general rate case in Oregon [27] - Planned capital expenditures for Avista Utilities are approximately $515 million for 2024, with a three-year capital plan of about $1.7 billion to support customer growth and maintain infrastructure [28][29] Management's Comments on Operating Environment and Future Outlook - Management acknowledged headwinds in Q3 but expressed confidence in the team's ability to execute on regulatory strategies and commitments [12] - The company expects improvements in private equity markets and is optimistic about future opportunities within its investment portfolio [30][44] Other Important Information - The company has made significant progress towards clean energy goals, including signing four Power Purchase Agreements (PPAs) for a total of 325 megawatts of renewable energy [11] - The Clearwater Wind Project has come online early, supporting the company's clean energy goals [18] Q&A Session Summary Question: Upcoming milestones for the North Plains Connector project - Management indicated that definitive agreements are expected to be developed in the next six to nine months, which is a key piece of the integrated resource plan [34] Question: Financial commitment for the North Plains Connector - It was clarified that there will likely be some smaller payments before the project is operational, with the majority occurring after energization [35] Question: ERM and optimization of the generation portfolio - Management discussed the need for more company-owned generation to manage ongoing volatility in power supply costs, emphasizing the importance of changes to the ERM [37][38] Question: Details on the loss in the other segment - The loss is primarily due to mark-to-market valuations, with management expressing optimism about future improvements in the clean-tech market [41][42] Question: Legislative initiatives regarding wildfire response - Management confirmed plans to pursue legislation in Washington and Idaho related to wildfire response liabilities in the upcoming legislative session [48]

Avista (AVA) came out with quarterly earnings of $0.23 per share, beating the Zacks Consensus Estimate of $0.14 per share. This compares to earnings of $0.19 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 64.29%. A quarter ago, it was expected that this utility would post earnings of $0.22 per share when it actually produced earnings of $0.29, delivering a surprise of 31.82%.Over the last four quarters, the company has surpas ...