Financial Performance - MYR Group achieved record revenue of $3.64 billion in 2023, a 21% increase from $3.01 billion in 2022[14, 15] - The company's net income for the full year 2023 was $91 million, or $5.40 per diluted share, also a record high[19, 65] - MYR Group's EBITDA for 2023 reached $188.2 million, another record high[19, 65] - The company's backlog stood at $2.51 billion[62] Segment Performance - Transmission & Distribution (T&D) revenue reached a record $2.09 billion in 2023[21, 23] - Commercial & Industrial (C&I) revenue also hit a record of $1.55 billion in 2023[31, 34] - T&D segment backlog was $960 million as of December 31, 2023[23] - C&I segment backlog was $1.55 billion as of December 31, 2023[34] Market Outlook - Investor-owned electric companies plan to invest approximately $121 billion in transmission construction between 2023 and 2026[26] - The Infrastructure Investment and Jobs Act (IIJA) includes $73 billion for the electric grid and energy infrastructure[29] - Combined federal spending planned for energy between the IIJA and Inflation Reduction Act (IRA) is over $300 billion over the next 5-10 years[29]

Core Insights - Avista is seeking proposals to add energy and capacity, including distributed energy resources, to meet projected resource needs and address peak demand through a Demand Response program [1][4]. Group 1: RFP Details - The all-source RFP aims to meet capacity needs of up to 415 MW for winter and 425 MW for summer in Washington and Idaho [2]. - Avista may include repowering and/or self-build resources in the RFP and is utilizing an Independent Evaluator for the process [2]. Group 2: Resource Needs - Avista's 2025 Electric Integrated Resource Plan indicates a need for new electric resources to meet growing customer demand and comply with the Clean Energy Transformation Act (CETA) for carbon-neutral electric supply by 2030 [3]. - The company is committed to acquiring at least 5 MW of Demand Response starting in 2026, which provides a cost-effective solution for peak energy demand [5]. Group 3: Proposal Requirements - The RFP is open to parties that own, propose to develop, or hold rights to resources that meet Avista's energy and capacity requirements, with minimum eligibility criteria outlined in the RFP [4]. - Hybrid proposals combining clean energy, capacity, and/or storage are encouraged, but proposals for Renewable Energy Certificates (REC) only will not be accepted [5]. Group 4: Timeline and Company Overview - Responses to the RFP are due by June 30, 2025, with instructions available on Avista's website [6]. - Avista Utilities serves 422,000 electricity customers and 383,000 natural gas customers across a service territory of 30,000 square miles, covering parts of eastern Washington, northern Idaho, and parts of Oregon, with a total population of 1.7 million [6].