Avista reaches multiparty settlement of Idaho general rate case

Avista (AVA), the Staff of the Idaho Public Utilities Commission, Clearwater Paper (CLW), Idaho Forest Group and Walmart (WAL), parties to the company’s electric and natural gas general rate cases, have reached a settlement agreement that has been submitted to the Idaho Public Utilities Commission for its consideration, and which would resolve all issues in the proceeding. The remaining joint party, the Idaho Conservation League / NW Energy Coalition, did not join in the Settlement. If approved, the settlement agreement is designed to increase annual base electric revenues by $22.1M or 8.0%, effective Sept. 1, 2023, and by $4.3M or 1.4%, effective Sept. 1, 2024. For natural gas, the settlement agreement is designed to increase annual base natural gas revenues by $1.3M or 2.7%, effective Sept. 1, 2023, and by $.003M or 0.01%, effective Sept. 1, 2024. The settlement capital structure includes a 9.4% return on equity with a common equity ratio of 50% and a rate of return on rate base of 7.19%.