Welcome to our dedicated page for Avista US news (Ticker: AVA), a resource for investors and traders seeking the latest updates and insights on Avista US stock.
Avista Corporation (NYSE: AVA) generates a steady flow of news as an energy company involved in the production, transmission and distribution of electricity and natural gas, along with other energy‑related businesses. Through its Avista Utilities division and subsidiaries such as Alaska Energy and Resources Company and Alaska Electric Light and Power Company, Avista provides regulated utility service in parts of Washington, Idaho, Oregon and Alaska, which leads to frequent operational and regulatory updates.
News about Avista often covers quarterly and annual financial results, where the company discusses segment performance for Avista Utilities, AEL&P and other businesses, as well as factors such as customer load growth, general rate cases, operating costs and capital expenditures. Earnings releases may also include non‑GAAP measures like electric and natural gas utility margin and commentary on liquidity, financing plans and long‑term earnings expectations.
Another key category of Avista news involves regulatory and rate proceedings. The company issues announcements about general rate cases, settlement agreements and annual adjustment filings for purchased gas costs, wildfire expense balancing, insurance expense balancing, clean energy implementation costs and low‑income rate assistance programs. These updates explain proposed or approved changes in electric and natural gas revenues and how they affect customer bills in different jurisdictions.
Avista also publishes updates on its clean energy and sustainability initiatives, including filings of Clean Energy Implementation Plans under Washington’s Clean Energy Transformation Act and the release of Corporate Responsibility reports and ESG disclosures. Additional news highlights community and philanthropic activities through the Avista Foundation, which awards grants to nonprofit organizations in areas such as environmental efforts, arts and culture, education and community development across the Northwest.
Visitors to this page can review Avista news releases to follow developments in its utility operations, regulatory environment, clean energy planning, community investments and financial performance over time.
Avista has finalized two significant energy contracts aimed at enhancing its clean energy portfolio. The company will purchase approximately 100 megawatts of wind energy from a planned regional project starting by January 1, 2026, which will contribute to over 70% of its peak generating capacity being produced from non-emitting resources. Additionally, a 15-year extension has been made for energy procurement from the 282 MW Lancaster natural gas plant, ensuring reliable generation without the need for new natural gas plants. These initiatives are vital for meeting peak load capacity and renewable energy needs as outlined in Avista's 2021 Electric Integrated Resource Plan.
Avista Corp. (NYSE: AVA) will hold its quarterly conference call on May 3, 2023, at 10:30 a.m. EDT, to discuss first quarter 2023 results. A news release detailing earnings will be issued at 7:05 a.m. EDT on the same day. The call can be accessed via Avista's website, requiring pre-registration at the Presentations and Events link. The company serves 411,000 electric and 377,000 natural gas customers across a 30,000 square mile territory, primarily in eastern Washington and northern Idaho, with additional services in parts of Oregon and Alaska. For further details, visit Avista's investor relations page.
Avista Corp. has submitted its 2023 Natural Gas Integrated Resource Plan (IRP) to state regulators in Washington, Idaho, and Oregon. This plan outlines a roadmap to meet future energy demands and comply with emissions regulations over the next two decades. Developed in collaboration with a Technical Advisory Committee, the IRP emphasizes safe, reliable natural gas service while meeting required emissions standards. The plan specifically addresses customer growth in Idaho and outlines how current transportation contracts will support state loads. The IRP is available for public review at myavista.com/irp.
Avista Corp. (NYSE: AVA) has been recognized as one of the 2023 World’s Most Ethical Companies by Ethisphere, marking its fourth consecutive year receiving this honor. This recognition reflects the company's commitment to ethical practices, compliance, and governance within the energy and utilities sector, where it stands out among only nine honorees. The award coincides with Avista's 134th anniversary, highlighting a legacy of corporate responsibility. Ethisphere's methodology includes over 200 questions assessing various ethical parameters.
Avista Corp. (NYSE: AVA) has nominated Kevin Jacobsen to join its Board of Directors, with a vote scheduled for May 11, 2023. Jacobsen, who currently serves as CFO of The Clorox Company, brings extensive financial expertise and executive experience in competitive markets. His past roles include VP of Financial Planning at Clorox and finance positions at General Motors. He will replace Kristianne Blake, who has been on the board since 2000 and is retiring. Avista President and CEO, Dennis Vermillion, expressed gratitude for Blake's service and optimism about Jacobsen's contributions to the company’s future.
Avista (AVA) has filed a request with the Public Utility Commission of Oregon to increase natural gas base rates by approximately $11 million. This proposal aims for a 7.59% return rate, with a 50% common equity ratio. If approved, an average residential customer could see an increase of $6.20 per month, an 8.1% rise. The request highlights necessary investments in infrastructure including pipeline replacements and technology upgrades. Avista serves around 106,000 customers in Oregon, and the PUC will review the request over the next 10 months. The company emphasizes its commitment to maintaining energy affordability despite rising operational costs.
Avista Corp. (NYSE: AVA) reported significant financial results for the year ending December 31, 2022. Net income rose to $155.2 million or $2.12 per diluted share, up from $147.3 million or $2.10 per share in 2021. The fourth quarter saw net income of $78.0 million or $1.05 per diluted share, compared to $50.9 million or $0.71 per share in Q4 2021. Despite facing challenges like high inflation and power supply volatility, the company confirmed its 2023 earnings guidance of $2.27 to $2.47 per diluted share. Key segments reported varied performances, with Avista Utilities' earnings slightly below expectations due to higher costs.
Avista Corp. (NYSE: AVA) has announced a quarterly dividend increase to $0.46 per share, marking a 4.5% rise, which equates to an annualized dividend of $1.84. This dividend is set to be payable on March 15, 2023, to shareholders of record as of February 17, 2023. This marks the twenty-first consecutive year of dividend increases, reflecting the board's commitment to enhancing shareholder value. The declaration of dividends is determined by the board, considering various financial and economic factors.
Avista (NYSE: AVA) filed a multiyear rate plan with the Idaho Public Utilities Commission to recover costs for infrastructure and operating expenses. If approved, new rates will take effect in September 2023 and September 2024. The electric general rate request aims to increase annual base revenues by $37.5 million (14.7%) in 2023 and $13.2 million (4.5%) in 2024. The natural gas request seeks $2.8 million (2.7%) increase in 2023 and $0.1 million (0.1%) in 2024. The proposal includes investments in grid reliability and technology upgrades, addressing inflation and supply chain constraints.
Silver Valley Metals Corp. announced the appointment of Douglas Dobbs as Corporate Development Director, bringing over 25 years of experience. This transition follows the acquisition of the Ranger-Page project and a comprehensive exploration campaign that delivered promising results in 2022. In 2023, the company plans to initiate drilling programs targeting high-grade resources and new mineralization areas. Additionally, they closed a $0.075 Unit Private Placement Financing for $967,283.55, issuing 12,897,114 Units. The financing included insider transactions and stock options have been issued to officers and consultants.