Financial Performance & Guidance - Avista Utilities' year-to-date earnings increased nearly 5 percent from 2023[8] - The company initiates consolidated earnings guidance with a range of $2.52 to $2.72 per diluted share for 2025[8] - Avista Utilities provides earnings guidance of $2.43 to $2.61 per share for 2025[28] - AEL&P provides earnings guidance of $0.09 to $0.11 per share for 2025[28] Regulatory Updates - Washington: New rates effective 1/1/2025, including a base electric revenue increase of $11.9 million (2%) in year 1 and $68.9 million ($44.5 million net) (11.6%) in year 2, and a base gas revenue increase of $14.2 million (11.2%) in year 1 and $4.0 million (2.8%) in year 2[17, 19] - Idaho: Proposed base electric revenue increase of $43 million (14.4%) in year 1 and $17.7 million (5.2%) in year 2, and a proposed base gas revenue increase of $8.8 million (5.2%) in year 1 and $1 million (1%) in year 2, with new rates effective in September 2025[20] - Alaska: Rate increase of 6.0% approved[18, 20] Capital Expenditure & Dividend - Avista Utilities expects capital spending between 2025-2029 to be $525 million, $575 million, $600 million, $625 million, and $650 million respectively[22] - The company expects dividend growth to be less than earnings growth until it reaches its target payout range of 65-75%[15, 14] Balance Sheet & Liquidity - The company expects long-term debt in 2025 to be $120 million and equity to be $80 million[26] - As of December 31, 2024, the company has $342 million in borrowings outstanding, $17 million in letters of credit outstanding, and $191 million in available liquidity[26]