On February 27, 2017, Avista Corporation (Avista Corp. or the Company) received an order from the Washington Utilities and Transportation Commission (Commission or UTC) denying the Company’s Petition for Reconsideration and/or Rehearing (Petition) in its 2016 electric and natural gas general rate cases. The Commission confirmed its previous order in the case, issued December 15, 2016, which denied the Company’s proposed electric and natural gas rate increase requests of $38.6 million and $4.4 million, respectively.

In its order denying the Petition, the UTC generally referred back to its prior findings and conclusions in the order issued in December 2016. Consistent with the original order, Commissioner Jones dissented and did not support the decision in the latest order.

Avista Corp. evaluated all options for appeal of the Commission’s latest order and determined that appeal of the Commission’s decision to the courts would bring a significant amount of uncertainty regarding the level of success of such an appeal, as well as the timing of any value that might come following a process that would take between one and two years. The Company believes greater long-term value can be achieved through focusing on upcoming new general rate cases, than through appealing the recent decision in the courts.

Now that the 2016 case is concluded, the Company will request meetings with the Commissioners to better understand their concerns and their expectations going forward. The Company will also reach out to Commission Staff and other parties to discuss needs and expectations prior to filing the next general rate case. The Company plans to file a general rate case in the second quarter of 2017.

About AVISTA CORPORATION (NYSE:AVA)

Avista Corporation is an electric and natural gas utility with certain other business ventures. The Company operates through two business segments: Avista Utilities, and Alaska Electric Light and Power Company (AEL&P). Avista Utilities segment generates, transmits and distributes electricity, and distributes natural gas serving electric and natural gas customers in eastern Washington and northern Idaho and natural gas customers in parts of Oregon. AEL&P is a utility providing electric services in Juneau, Alaska. It operates other businesses, including sheet metal fabrication, venture fund investments and real estate investments, as well as certain other investments of Avista Capital, Inc., a subsidiary of the Company. Through Advanced Manufacturing and Development (AM&D), doing business as METALfx, the Company performs custom sheet metal fabrication of electronic enclosures, parts and systems for the computer, construction, telecommunication, renewable energy and medical industries.

AVISTA CORPORATION (NYSE:AVA) Recent Trading Information

AVISTA CORPORATION (NYSE:AVA) closed its last trading session up +0.37 at 40.14 with 304,030 shares trading hands.