Avista (AV6) Q2 2026 Earnings Report

The call conveyed a mixed picture: significant near-term operational and community impacts from severe wildfires and related infrastructure damage contrasted with effective emergency response actions, demonstrated value of mitigation programs (PSPS, vegetation management), a favorable nonregulated quarter (but with volatility risk), and proactive regulatory engagement on data center/customer protections. Financial exposure from the fires is still being assessed and management believes the damage is unlikely to require securitization; regulatory outcomes (rate case, data center approvals) remain uncertain.

On the call (Avista Corp., FY2026 Q2) management provided operational and regulatory guidance tied to the Spokane wildfires and ongoing regulatory matters: as of the call about 7,300 of 429,000 electric customers and about 5,300 of 386,000 natural gas customers remained without service, multiple transmission lines were damaged (a key transmission line was repaired and energized earlier that morning while a couple of lines remain out) and distribution damage is still being assessed; the company removed a 500‑MW data‑center project as upside to its capital plan while pausing the MOU pending workshops and potential tariff/policy changes; on the Washington rate case Avista will file rebuttal on Aug 7, has hearings Sept 17–18 and expects a commission order by mid‑December, supports a 4‑year plan (with the option to refile/replace years 3–4 if an extreme event occurs), noted prior legislation (two sessions ago) permitting securitization though it’s unlikely to be needed here, and flagged a near‑term nonregulated gain tied to an EIP/EROCK IPO that may introduce volatility next quarter.