{"id":775563,"date":"2023-08-04T10:58:45","date_gmt":"2023-08-04T14:58:45","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/avista-reaches-all-party-all-issues-settlement-in-oregon-general-rate-case\/"},"modified":"2023-08-04T10:58:45","modified_gmt":"2023-08-04T14:58:45","slug":"avista-reaches-all-party-all-issues-settlement-in-oregon-general-rate-case","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/avista-reaches-all-party-all-issues-settlement-in-oregon-general-rate-case\/","title":{"rendered":"Avista reaches all-party, all-issues settlement in Oregon general rate case"},"content":{"rendered":"

\nIf approved, new rates would take effect beginning January 1, 2024
\n<\/h2>\n
\n

SPOKANE, Wash., Aug. 03, 2023 (GLOBE NEWSWIRE) — Avista (NYSE: AVA)<\/strong>, the Staff of the Public Utility Commission of Oregon (Commission), the Oregon Citizens\u2019 Utility Board (\u201cCUB\u201d), Alliance of Western Energy Consumers (\u201cAWEC\u201d), and the joint intervenor Sierra Club\/Climate Solutions, parties to the Company\u2019s natural gas general rate case, have reached a settlement agreement that has been submitted to the Commission\u00a0for its consideration, and which would resolve all remaining issues in the proceeding.<\/p>\n

If approved, this settlement would result in a base revenue increase request of $7.16 million (or 4.7%), as compared to Avista\u2019s original request of $11.0 million. The agreed-upon revenue requirement is predicated on a proposed rate of return of 7.235% with a common equity ratio of 50% and a 9.5% return on equity.<\/p>\n

\u201cThis settlement agreement will provide new rates in\u00a0Oregon\u00a0that are fair and reasonable for our customers, the Company, and our shareholders,\u201d said\u00a0Dennis Vermillion,\u00a0Avista\u00a0president and CEO. \u201cThis outcome allows us to recover our costs in a timely manner\u00a0and supports Avista\u2019s efforts to invest in and maintain our infrastructure so we can continue to provide the reliable energy our customers expect.\u201d<\/p>\n

\n Residential Customer Bills<\/strong>
\n
If the settlement is approved, a residential natural gas customer using an average of 47 therms per month, would see a $4.07 per month increase, or 5.3 percent, from a $77.01 bill for a revised monthly bill of $81.08 effective\u00a0Jan. 1, 2024.<\/p>\n\n\n\n\n\n\n\n\n\n\n
\n 2024 Natural Gas Revenue Impact by Rate Schedule<\/strong>\n <\/td>\n<\/tr>\n
\n Rate Schedule <\/strong>\n <\/td>\n\n Description<\/strong>\n <\/td>\n\n 2024 Billing Change<\/strong>\n <\/td>\n<\/tr>\n
Residential<\/td>\nSchedule 410<\/td>\n5.1%<\/td>\n<\/tr>\n
General Service<\/td>\nSchedule 420<\/td>\n5.8%<\/td>\n<\/tr>\n
Large General Service<\/td>\nSchedules 424 & 425<\/td>\n0.1%<\/td>\n<\/tr>\n
Interruptible Service<\/td>\nSchedule 439 & 440<\/td>\n0.1%<\/td>\n<\/tr>\n
Seasonal Service<\/td>\nSchedule 444<\/td>\n0.2%<\/td>\n<\/tr>\n
Transportation Service<\/td>\nSchedule 456<\/td>\n0.8%<\/td>\n<\/tr>\n
\n Total<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 4.7<\/strong>
\n %<\/strong>\n <\/td>\n<\/tr>\n<\/table>\n

The actual percentage rate change will vary by customer rate schedule and will depend on how much energy a customer uses.<\/p>\n

Avista serves approximately 106,000 customers in Oregon.<\/p>\n

\n
\n Customer Resources<\/u>
\n <\/strong>\n <\/p>\n

To assist customers in managing their energy bills,\u00a0Avista\u00a0offers services for customers such as comfort level billing, payment arrangements and Customer Assistance Referral and Evaluation Services (CARES), which provide assistance to special-needs customers through referrals to area agencies and churches for help with housing, utilities, medical assistance and other needs.\u00a0Avista\u00a0also provides funding for energy assistance programs Project Share and the company\u2019s LIRAP, which are administered through community action agencies.<\/p>\n

Avista\u00a0provides energy efficiency and outreach programs that include rebates and incentives as well as tips and resources to help customers manage their energy use and energy bills. Customers can learn more at\u00a0www.myavista.com<\/a>.<\/p>\n

\n About Avista Corp.<\/strong>
\n
Avista Corp. is an energy company involved in the production, transmission, and distribution of energy as well as other energy-related businesses. Avista Utilities<\/u><\/a> is the operating division that provides electric service to 403,000 customers and natural gas to 369,000 customers. Its service territory covers 30,000 square miles in eastern Washington, northern Idaho, and parts of southern and eastern Oregon, with a population of 1.6 million. Alaska Energy and Resources Company is an Avista subsidiary that provides retail electric service in the city and borough of Juneau, Alaska, through its subsidiary Alaska Electric Light and Power Company<\/u><\/a>. Avista stock is traded under the ticker symbol “AVA.” For more information about Avista, please visit www.avistacorp.com<\/u><\/a>.<\/p>\n

This news release contains forward-looking statements regarding the company\u2019s current expectations. Forward-looking statements are all statements other than historical facts. Such statements speak only as of the date of the news release and are subject to a variety of risks and uncertainties, many of which are beyond the company\u2019s control, which could cause actual results to differ materially from the expectations. These risks and uncertainties include, in addition to those discussed herein, all of the factors discussed in the company\u2019s Annual Report on Form 10-K for the year ended Dec. 31, 2022 and the Quarterly Report on Form 10-Q for the quarter ended June 30, 2023.<\/p>\n

SOURCE: Avista Corporation<\/p>\n

\n Contact:<\/strong>
\n
Media:\u00a0Lena Funston\u00a0(509) 495-8090,\u00a0lena.funston@avistacorp.com<\/a>
Investors:\u00a0Stacey Wenz\u00a0(509) 495-2046,\u00a0stacey.wenz@avistacorp.com<\/a>
Avista\u00a024\/7 Media Access (509) 495-4174<\/p>\n<\/p>\n


\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

If approved, new rates would take effect beginning January 1, 2024 SPOKANE, Wash., Aug. 03, 2023 (GLOBE NEWSWIRE) — Avista (NYSE: AVA), the Staff of the Public Utility Commission of Oregon (Commission), the Oregon Citizens\u2019 Utility Board (\u201cCUB\u201d), Alliance of Western Energy Consumers (\u201cAWEC\u201d), and the joint intervenor Sierra Club\/Climate Solutions, parties to the Company\u2019s natural gas general rate case, have reached a settlement agreement that has been submitted to the Commission\u00a0for its consideration, and which would resolve all remaining issues in the proceeding. If approved, this settlement would result in a base revenue increase request of $7.16 million (or 4.7%), as compared to Avista\u2019s original request of $11.0 million. The agreed-upon revenue requirement is predicated on a proposed rate … <\/p>\n

Continue reading “Avista reaches all-party, all-issues settlement in Oregon general rate case”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-775563","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nAvista reaches all-party, all-issues settlement in Oregon general rate case - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/avista-reaches-all-party-all-issues-settlement-in-oregon-general-rate-case\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Avista reaches all-party, all-issues settlement in Oregon general rate case - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"If approved, new rates would take effect beginning January 1, 2024 SPOKANE, Wash., Aug. 03, 2023 (GLOBE NEWSWIRE) — Avista (NYSE: AVA), the Staff of the Public Utility Commission of Oregon (Commission), the Oregon Citizens\u2019 Utility Board (\u201cCUB\u201d), Alliance of Western Energy Consumers (\u201cAWEC\u201d), and the joint intervenor Sierra Club\/Climate Solutions, parties to the Company\u2019s natural gas general rate case, have reached a settlement agreement that has been submitted to the Commission\u00a0for its consideration, and which would resolve all remaining issues in the proceeding. 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