Avista Corp AVA:NYSE

Last Price$37.25NYSE Previous Close - Last Trade as of 7:00PM ET 8/14/20
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Avista Reaches Settlement Deal on Decreased Rates, Submits to Idaho Public Utilities Commission for Approval

9:34AM ET 10/14/2019 MT Newswires
Avista (AVA) said late Friday it reached an agreement with parties in its electric-rate case that's been submitted to the Idaho Public Utilities Commission that, if approved, would go into effect on Dec. 1.

The energy company said the settlement agreement decreases the annual billed electric revenue by $7.2 million, or 2.84%, effective on the first day of December. If the commission approves the agreement, a residential customer that uses 900 kilowatt hours of electricity per month would see their bill decline by $0.86, according to a company statement.

Avista's proposal includes continued recovery costs for its wind-generation power-purchase deal from Palouse Wind and Rattlesnake Flat using a power-cost adjustment mechanism rather than recouping the revenue through base rates, according to a statement.

Price: 48.39, Change: +0.19, Percent Change: +0.39