Analyst Ratings

Return to Article

Avista Reaches Settlement On Idaho Energy Rates

The Associated Press

SPOKANE, Wash. (AP) — Energy company Avista Corp. said late Tuesday it has reached a settlement in Idaho that would bump residential electric rates by 1.9 percent while keeping natural gas rates flat.

If approved by the Idaho Public Utilities Commission, the new rates would take effect August 1.

Dennis Vermillion, president of Avista Utilities, said natural gas prices have decreased substantially since it filed for rate adjustments in January, and Avista believes the settlement with regulators and other parties represents a fair resolution.

Under the new electricity rates, a residential customer using an average of 982 kilowatt hours per month would see a $1.50 monthly increase for a bill of $79.97. Residential natural gas customers using an average of 65 therms per month would see no change in their $78.23 monthly bills.

Avista Corp. shares gained 17 cents to $16.60 in morning trading. The stock has traded between $12.67 and $23.58 during the past year.