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 Corp (NYSE: AVA) announced a significant leadership change. CEO Dennis Vermillion will retire in Q1 2025, with Heather Rosentrater appointed as the new CEO effective January 1, 2025. Rosentrater, currently President and COO, will become the first female CEO in Avista's 135-year history. She will retain her role as president and join the board of directors.
Rosentrater has been with Avista since 1996, progressing through various roles in electric and natural gas operations. Vermillion, a 40-year Avista veteran, led the company through challenges including the COVID-19 pandemic, regulatory changes, and the transition to clean energy. The succession plan aims to ensure a smooth transition and continued success for Avista.
Avista Corp. (NYSE: AVA) has announced a quarterly dividend of $0.475 per share on its common stock. The dividend will be payable on September 13, 2024, to shareholders of record as of the close of business on August 22, 2024. This decision was made by Avista's board of directors, who regularly evaluate dividend levels based on various factors including financial results, business strategies, and economic conditions. The company emphasizes that dividend declarations are at the sole discretion of the board and are subject to ongoing assessment.
Avista Corp. (NYSE: AVA) reported strong financial results for Q2 2024, with consolidated earnings of $0.29 per diluted share, up from $0.23 in Q2 2023. Year-to-date earnings reached $1.20 per diluted share, compared to $0.96 in the same period last year. The company's core utility operations showed strength, with Avista Utilities' net income increasing to $91.4 million year-to-date, up from $70.4 million in 2023. Avista confirmed its 2024 consolidated earnings guidance of $2.36 to $2.56 per diluted share. The company highlighted its continued investment in system reliability, which proved beneficial during recent heat waves. Avista also announced serving a new large electric customer effective Aug. 1, expected to offset higher power supply costs in 2024.
Avista (NYSE: AVA) has filed annual rate adjustments with the Idaho Public Utilities Commission, proposing decreased electric and natural gas prices for customers. If approved, electric revenues would decrease by 5.4% ($16.6 million) effective Oct. 1, 2024, and natural gas revenues would decrease by 25.8% ($29.8 million) effective Nov. 1, 2024.
For residential customers, this translates to an average monthly bill decrease of $2.72 (2.6%) for electricity and $18.66 (23.9%) for natural gas. The adjustments include changes in Power Cost Adjustment (PCA), Fixed Cost Adjustment (FCA), and Purchased Gas Cost Adjustment (PGA). These filings have no impact on Avista's earnings and are subject to public review and Commission approval.
The Avista Foundation has awarded $201,750 in grants to 40 nonprofit organizations across Washington, Idaho, and Oregon to support education and youth development. This is part of the foundation's larger grant program, which has distributed over $385,750 in 2024 so far. The grants support a diverse range of programs, including:
- Scholarships for childcare and summer camps at Northeast Youth Center in Spokane
- A shoe drive for children in Lewiston, Idaho through LC Crew
- Expansion of STEAM programs at Boys and Girls Club of the Rogue Valley in Southern Oregon
Avista CEO Dennis Vermillion emphasized the company's commitment to making a difference in young people's lives through these vital programs. The foundation offers four grant cycles annually, with the next Economic and Community Vitality Proposals due by August 1, 2024.
Avista Corp. (NYSE: AVA) will discuss its second quarter 2024 results in a conference call and webcast on August 7, 2024, at 10:30 a.m. EDT. The earnings release will be issued at 7:05 a.m. EDT on the same day. Pre-registration is required via Avista's investor website. The webcast replay will be available for one year. Avista Corp. is involved in energy production, transmission, and distribution, servicing areas in eastern Washington, northern Idaho, and parts of Oregon, as well as Juneau, Alaska. Avista Utilities provides electric and natural gas services to over 800,000 customers.
Exceleron Software and PayGo Utilities have merged to form Empower Grid Holdings (EGH), backed by Moore Strategic Ventures, Accurant International, and Avista Development. This merger aims to enhance affordability, engagement, choice, and revenue assurance for utilities in North America, Asia Pacific, and Latin America. Exceleron CEO Bob Crenshaw and PayGo CEO Jeff Weiser will serve as Co-CEOs. The combined entity will provide innovative solutions to over 75 utilities across 23 states, enhancing customer satisfaction and energy savings. The merger is seen as a strategic move to meet growing utility demands and customer expectations during the Energy Transition.
Avista Foundation awarded over $184,000 in grants to 37 non-profit organizations in the first quarter of 2024, focusing on health and human services. In 2023, over $1.8 million was donated. Avista CEO emphasizes the importance of supporting communities for resilience and interconnectedness. The foundation has granted over $16 million since 2002.
Avista is enhancing its wildfire mitigation plan by adding Public Safety Power Shutoffs (PSPS) in extreme weather conditions to protect public safety. The company has been implementing changes to its power line operations, such as Fire Safety Mode, to reduce the risk of fires. Avista has also committed to a 10-year Wildfire Resiliency Plan, completing grid hardening projects and increasing vegetation management.
Avista Corp.'s board of directors declared a quarterly dividend of $0.475 per share on the company's common stock. The dividend is payable on June 14, 2024, to shareholders of record on May 23, 2024. The board considers various factors in determining the dividend level.