AVISTA CORPORATION (NYSE:AVA) Files An 8-K Other Events
Item 8.01 Other Events.
filed electric and natural gas general rate requests with the Idaho
Public Utilities Commission (IPUC or Commission) to recover
increased power supply costs and capital investments made since the
last determination of the Company’s rate base in the 2016 Idaho
general rate case.
gas and has requested the following for each year (dollars in
millions):
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Electric
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Natural Gas
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Effective Date
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Proposed Revenue Increase
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Proposed Base Rate Increase
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Proposed Revenue
Increase
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Proposed Base
Rate Increase
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January 1, 2018
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$
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18.6
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7.5
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%
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$
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3.5
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8.8
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%
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January 1, 2019 (1)
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$
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9.9
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3.7
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%
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$
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2.1
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5.0
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%
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(1)
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The Company is not proposing to update base power supply
costs for year two of the rate plan, but rather have any differences flow through the Power Cost Adjustment mechanism. |
7.81 percent with a common equity ratio of 50.0 percent and a 9.9
percent return on equity.
would not file a new general rate case for a new rate plan to be
effective prior to January 1, 2020.
the costs associated with Avista Corp.’s capital investments to
replace infrastructure that has reached the end of its useful life,
as well as respond to the need for reliability and technology
investments required to maintain an integrated energy services
grid. Among the capital investments included in the filings are:
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Generator maintenance at the Kettle Falls biomass plant
that will ensure efficient generation and operations. |
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The ongoing project to systematically replace portions of
natural gas distribution pipe in Avista Corp.’s service area that were installed prior to 1987, as well as replacement of other natural gas service equipment. |
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Transmission and distribution system and asset maintenance,
such as wood pole replacements, feeder upgrades, and substation and transmission line rebuilds to maintain reliability for the Company’s customers. |
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Technology upgrades that support necessary business
processes and operational efficiencies that allow the Company to effectively manage the utility and serve customers. |
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A refresh of the customer-facing website, providing
relevant information, greater accessibility on mobile devices, easier navigation, and a streamlined payment experience. |
filings and issue a decision.
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.
