Financial Data and Key Metrics Changes - In 2024, the company delivered GAAP earnings per share of $3.44 and ongoing earnings per share of $3.50, marking the twentieth consecutive year of meeting or exceeding initial earnings guidance [19][20] - The company reaffirmed its 2025 earnings guidance range of $3.75 to $3.85 per share, with long-term earnings per share growth expectations of 6% to 8% and dividend growth of 4% to 6% [20] Business Line Data and Key Metrics Changes - The company invested over $7.5 billion in 2024 to modernize electric and natural gas systems, alongside updating its five-year capital plan [20] - The resource plans include proposals for 15,000 to 29,000 megawatts of new efficient, clean generation, with a focus on wind, solar, and battery storage [36][37] Market Data and Key Metrics Changes - The U.S. electricity demand growth rate through 2030 has tripled, with expectations to sell 30% more electricity in 2030 than in 2024 [14] - The company has received requests for nearly 9,000 megawatts of new daily demand from data center companies, equivalent to powering over 8 million homes each year [14] Company Strategy and Development Direction - The company is strategically positioned to capitalize on the growing demand for electricity driven by new technologies and the transition to cleaner energy sources [4][13] - A $45 billion investment plan over the next five years aims to modernize, strengthen, and expand the grid to support economic growth and the clean energy transition [18] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the unprecedented growth opportunities in the energy sector, emphasizing the importance of evolving and pushing to new heights [27][30] - The company is focused on enhancing customer experience, affordability, reliability, and advancing clean energy policy goals [19][21] Other Important Information - The company has been recognized as one of Ethisphere's world's most ethical companies for six consecutive years and has received accolades for its commitment to diversity and inclusion [29] - In 2024, the corporate economic development team closed on 24 projects resulting in over $5 billion in capital investment and the creation of more than 3,000 jobs [23] Q&A Session Summary Question: Can you provide an update on your recent resource plan? - The company plans to add between 15,000 and 29,000 megawatts of new generation resources, including 720 megawatts of firm dispatchable generation in the Upper Midwest [35][36] Question: What impact will data centers have on future load growth? - The company is experiencing significant interest from data centers, with nearly 9,000 megawatts of backlog and expects to serve about 25% of that demand [39][40] Question: What impact do recently announced tariffs have on your capital investment plans? - The company has been agile in managing its supply chain and expects tariffs to represent about 1% to 2% of its total capital bill over the next five years, which is considered manageable [42][45]

Financial Performance - Avista Corp. reported a total net income of $79 million for Q1 2025, an increase from $71 million in Q1 2024, representing a growth of approximately 11.3% [1] - Earnings per diluted share rose to $0.98 in Q1 2025 from $0.91 in Q1 2024, marking an increase of about 7.7% [1] - The electric utility margin increased by $28 million, contributing $0.36 to earnings per share, while the natural gas utility margin added $7 million, contributing $0.09 [2] Segment Performance - Avista Utilities generated a net income of $78 million in Q1 2025, up from $67 million in Q1 2024 [1] - AEL&P maintained a consistent net income of $4 million for both Q1 2025 and Q1 2024 [1] - Other non-reportable segments incurred a loss of $3 million in Q1 2025, compared to no loss in Q1 2024 [1] Legislative and Regulatory Developments - Significant progress was made in wildfire risk mitigation with new bills passed in Washington and Idaho, allowing for the approval of wildfire mitigation plans and the securitization of related costs [1] - The settlement of the Oregon general rate case is viewed as positive, with upcoming discussions for Idaho general rate cases expected to occur later in May 2025 [1] Capital Expenditures - Avista Utilities reported capital expenditures of $100 million in Q1 2025, with expectations of total capital expenditures of approximately $525 million for the year [4][5] - AEL&P's capital expenditures were $3 million in Q1 2025, with an expected total of $15 million for the year [4][5] Liquidity and Financing - As of March 31, 2025, Avista Corp. had $221 million in available liquidity under its committed line of credit and $40 million under its letter of credit facility [3] - The company plans to issue $120 million in long-term debt and up to $80 million in common stock in 2025, including $16 million already issued in Q1 [3] Earnings Guidance - Avista Corp. confirmed its 2025 consolidated earnings guidance, projecting earnings per diluted share in the range of $2.52 to $2.72 [8] - Avista Utilities is expected to contribute between $2.43 and $2.61 per diluted share, while AEL&P is projected to contribute between $0.09 and $0.11 [10]