Avista Corp 8-K, filed Feb 6, 2025
Avista Corp (AVA)
About this 8-K
Avista Corp filed this 8-K on February 6, 2025, reporting on events of January 31, 2025.
Items reported
- Item 8.01: Other events
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01 Other Events
On January 31, 2025, Avista Corporation (Avista Corp. or the Company) filed multi-year electric and natural gas general rate cases with the Idaho Public Utilities Commission (IPUC or Commission). If approved, new rates would be effective in September 2025 and September 2026.
The proposed rates are designed to increase annual base electric revenues by $43.0 million (or 14.0 percent of base revenues), effective in September 2025, and $17.7 million (or 5.0 percent of base revenues), effective in September 2026.
For natural gas, the proposed rates are designed to increase annual base natural gas revenues by $8.8 million (or 17.7 percent of base revenues), effective in September 2025, and $1.0 million (or 1.7 percent of base revenues), effective in September 2026.
The proposed electric and natural gas revenue increase requests are based on a 10.4 percent return on equity with a common equity ratio of 50 percent and a rate of return on rate base of 7.68 percent. Ongoing capital infrastructure investment (including replacement of wood poles and natural gas distribution pipe, continued investment in the wildfire resiliency plan, and technology) and increases in operations, maintenance and power supply costs are the main drivers of the proposed increase.
The IPUC has up to nine months to review the general rate case filings and issue a decision.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
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AVISTA CORPORATION |
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Date: |
February 5, 2025 |
By: |
/s/ Kevin J. Christie |
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Kevin J. Christie |