Avista US Stock Price, News & Analysis

Avista Corporation announced a strategic agreement to transfer its interest in the Colstrip coal-fired power plant to NorthWestern Energy by December 31, 2025. This transaction includes the 222 MW generating capacity and associated rights and obligations. The decision follows Avista's assessment that Colstrip will no longer be economically viable for its customers in Washington and Idaho post-2025, as mandated by Washington's Clean Energy Transformation Act. Avista retains remediation obligations while preserving rights to the Colstrip transmission system for future renewable projects, aligning with their clean energy goals.

Avista Corp. (NYSE: AVA) will hold a quarterly conference call on February 22, 2023, at 10:30 a.m. EST to discuss its fourth quarter 2022 results. A news release with earnings details will be issued at 7:05 a.m. EST on the same day. Investors can access the call via Avista's website, with pre-registration required for call-in details. Avista provides electric service to 409,000 customers and natural gas to 374,000 customers, covering a territory of 30,000 square miles across eastern Washington, northern Idaho, and parts of Oregon.

Avista's electric and natural gas rate cases have concluded favorably, with the Washington Utilities and Transportation Commission approving a multi-party settlement. Effective Dec. 21, 2022, the settlement includes annual electric revenue increases of $38 million and $12.5 million in 2023, alongside natural gas increases of $7.5 million and $1.5 million. Customers will receive tax credits totaling $27.6 million for electricity and $12.5 million for gas over two years, mitigating rate increases. The approved rate of return on rate base is 7.03%.

Avista (NYSE: AVA) has released its latest Corporate Responsibility report, showcasing its commitments in the areas of environment, people, customers, and ethical governance. The report highlights goals for workplace equity, inclusion, diversity, and supplier diversity. Additionally, Avista published its Equal Employment Opportunity (EEO) 2021 Report and continues to adhere to various industry ESG standards. CEO Dennis Vermillion emphasized the company's dedication to corporate responsibility, stating that decision-making is rooted in integrity and long-standing values.

New agreement brings zero-carbon energy to Avista electric customers

SPOKANE, Wash, Dec. 08, 2022 - Avista has secured a 23-year contract with Columbia Basin Hydropower to source approximately 145 MWs of renewable hydropower. This agreement aligns with Washington's Clean Energy Transformation Act and supports Avista's goal of achieving 100% clean electricity by 2045. Initial deliveries will replace expiring contracts until 2030, enhancing the company's carbon-free energy portfolio and meeting renewable energy needs outlined in its 2021 Integrated Resource Plan.

Avista Corp. (NYSE: AVA) has announced a quarterly dividend of $0.44 per share, payable on December 15, 2022, to shareholders of record by November 18, 2022. The board of directors evaluates dividend levels regularly based on financial results, business strategies, and market conditions. Avista operates in energy production and distribution, serving 409,000 electric and 374,000 natural gas customers across a service area of 30,000 square miles.

Avista Corp. reported a net loss of $5.8 million, or $0.08 per diluted share, for Q3 2022, a decline from a net income of $14.4 million, or $0.20 per diluted share, in Q3 2021. Year-to-date results show net income of $77.2 million, down from $96.5 million a year earlier. The company lowered its 2022 earnings guidance by $0.05 to $1.88-$2.08 per share and 2023 guidance by $0.15 to $2.27-$2.47 per share, citing rising interest rates and increased operating expenses. Despite challenges, AEL&P is on track to meet annual expectations.

Avista, based in Spokane, Washington, is pursuing renewable natural gas (RNG) through a request for proposal (RFP) to support its goal of reducing natural gas emissions by 30% by 2030 and achieving carbon neutrality by 2045. The RFP invites proposals from owners and developers of RNG resources, including landfill and food waste RNG. Responses are due by December 20, 2022. This initiative aligns with legislative efforts in Oregon and Washington to facilitate RNG procurement and supports Avista's long-term sustainability goals.

Avista Corp. (NYSE: AVA) will host its quarterly conference call on November 1, 2022, at 10:30 a.m. Eastern Daylight Time to discuss Q3 2022 results. A news release detailing earnings will be available at 7:05 a.m. on the same day. Avista provides electric service to 408,000 customers and natural gas to 375,000 customers across a service area of 30,000 square miles. Interested parties must pre-register on Avista’s website to access the call. A replay will be available for one year post-event.