Avista US Stock Price, News & Analysis

Avista Corp. (NYSE: AVA) has announced the appointment of Wayne Manuel as Vice President, Chief Information Officer, and Chief Security Officer effective June 1, 2023. Manuel comes from Valley Medical Center, where he served as Senior Vice President, Chief Strategy Officer, and Chief Information Officer for nine years. He is credited with developing COVID-19 Operational Dashboards and enhancing cybersecurity measures. Prior to this role, he worked at Cleveland Clinic and Providence Health & Services. Manuel takes over from Jim Kensok, who has been with Avista since 2007 and is retiring this summer. Avista's President and CEO, Dennis Vermillion, expressed excitement about Manuel’s diverse experience and commitment to Avista's innovative culture. The company provides services to over 788,000 customers across its operational territories in the Pacific Northwest.

Avista has signed an agreement with Pine Creek RNG to procure renewable natural gas (RNG) from projects in Richland, Washington, and Waterloo, Iowa. The initiative follows Avista's October 2022 RFP to secure long-term RNG resources, contributing to lower methane emissions from organic waste. The projects are expected to produce a combined total of 5.1 million therms annually, sufficient to supply around 4,173 homes. Completion of construction is anticipated by the end of 2023, enhancing Avista's goal of reducing natural gas emissions by 30% by 2030 and achieving carbon neutrality in its operations by 2045. Both companies emphasize the environmental benefits of this partnership, signaling a significant step towards a more sustainable energy future.

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.