Avista(AVA)2024-11-06 17:44Financial Data and Key Metrics Changes - Consolidated earnings for Q3 2024 were 0.19 in Q3 2023, with year-to-date earnings at 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 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]