Avista US - AVA STOCK NEWS

Avista Corp. (NYSE: AVA) has announced an increase in its quarterly dividend to $0.49 per share on common stock, representing a $0.015 increase. This adjustment results in an annualized dividend of $1.96. The dividend will be paid on March 14, 2025, to shareholders of record as of February 26, 2025.

This marks the twenty-third consecutive year of dividend increases by Avista's board of directors, reflecting their commitment to maximizing shareholder value and returns. The board's dividend decisions are based on various factors, including financial results, business strategies, and economic conditions.

Avista (NYSE: AVA) has filed a multi-year rate plan with the Idaho Public Utilities Commission seeking to recover infrastructure investment costs. The two-year plan proposes electric rate increases of 14.4% ($43.0 million) effective September 2025 and 5.2% ($17.7 million) effective September 2026. For natural gas, increases of 10.3% ($8.8 million) and 1.0% ($1.0 million) are proposed for the same periods.

Idaho residential customers using 939 kWh monthly would see their electric bills rise by $15.36 to $119.66 in 2025, and by $6.36 to $126.02 in 2026. Natural gas customers using 66 therms monthly would experience increases of $6.29 and $0.88 in respective years. The plan includes infrastructure upgrades, wood pole management, wildfire resiliency measures, and technology improvements.

Avista Foundation has announced its fourth quarter 2024 grants, awarding $54,650 to 21 nonprofit organizations across Washington, Idaho, Oregon, and Alaska. The foundation's competitive grant program distributed a total of $563,285 to 125 non-profit organizations throughout 2024 within Avista's service area.

The Q4 grants support various environmental initiatives, arts, and cultural programs, including Feast Collective's music and arts experiences, Klamath Watershed Partnership's wetland restoration, and Carrousel Players' theatre productions. Individual grants ranged from $500 to $7,500, with recipients spanning environmental conservation, performing arts, and community development projects.

The foundation continues its grant cycles, with the next health and human service proposals due by February 1, 2025.

Avista Corp. (NYSE: AVA) has announced its upcoming fourth quarter 2024 earnings conference call and webcast, scheduled for February 26, 2025, at 10:30 a.m. Eastern Standard Time. The earnings release will be issued earlier that day at 7:05 a.m. EST.

The company serves 418,000 electric customers and 382,000 natural gas customers across a 30,000 square mile territory in eastern Washington, northern Idaho, and parts of Oregon. Through its subsidiary Alaska Electric Light and Power Company, Avista also provides electric service to 18,000 customers in Juneau, Alaska. The total service area encompasses a population of 1.7 million.

Avista Corp. (NYSE: AVA) has submitted its 2025 Electric Integrated Resource Plan (IRP) to regulatory commissions in Washington and Idaho. The plan outlines the company's 20-year strategy for meeting electricity demand growth, projected at 0.9% annually with winter peak demand growing at 1.14%.

Key elements include adding new renewable resources like wind and solar by 2030, continuing energy efficiency programs that will reduce demand growth by 32% over 20 years, and implementing demand response programs to reduce peak demand by up to 4%. The company plans to issue an All-Source Request for Proposals (RFP) in May to secure both capacity and renewable resources.

The IRP confirms Avista's commitment to meet Washington's Clean Energy Transformation Act requirements for greenhouse gas neutrality by 2030. The plan also identifies the need for reliable generation resources, either through new natural gas generation or energy storage, and includes the proposed North Plains Connector transmission line as a preferred resource alternative.

Avista (NYSE: AVA) has released its latest Corporate Responsibility report and ESG information on its corporate website. The report details the company's operations and commitments across four key areas: environment, people, customers and communities, and ethical governance.

The update includes progress on clean energy goals, workplace equity initiatives, supplier diversity, and the publication of their 2023 EEO-1 Report. The company has also expanded its ESG reporting framework coverage, adding new reports aligned with TCFD, SASB, EEI, and AGA standards.

CEO Dennis Vermillion emphasized the company's mission to enable vibrant communities through safe, responsible, and affordable energy, highlighting their focus on robust energy systems, clean energy partnerships, employee engagement, and financial strength.

Avista (NYSE: AVA) received approval from the Washington Utilities and Transportation Commission for a two-year rate plan affecting electric and natural gas rates starting January 2025. For electric operations, the Commission approved a 0.1% ($0.8M) increase in base revenue for Year 1 and 11.6% ($68.9M) for Year 2. Natural gas operations will see an 11.2% ($14.2M) increase in Year 1 and 2.8% ($4M) in Year 2.

The Commission approved a 7.32% rate of return on rate base, with a 48.5% common equity ratio and 9.8% return on equity. A potential calculation error in Year 1 electric rates could adjust the revenue from $0.8M to approximately $12M (2.0% increase). The Commission maintained support for Wildfire and Insurance balancing accounts and decoupling but did not modify the Energy Recovery Mechanism.

Avista Corp (NYSE: AVA) announced its board of directors has declared a quarterly dividend of $0.475 per share on common stock. The dividend will be paid on December 13, 2024, to shareholders of record as of November 26, 2024. The board's dividend decisions are based on various factors including financial results, business strategies, and market conditions.

Avista Corp. (NYSE: AVA) reported Q3 2024 net income of $18.5 million ($0.23 per diluted share), up from $14.7 million ($0.19 per share) in Q3 2023. Year-to-date net income reached $112.8 million ($1.44 per share), compared to $87 million ($1.14 per share) in 2023. The company lowered its 2024 consolidated earnings guidance to $2.26-$2.46 per diluted share due to lower-than-expected valuations in private equity markets. Avista Utilities expects to be at the low end of guidance range due to higher power supply, medical, and bad debt costs. The company plans to invest approximately $515 million in capital expenditures at Avista Utilities and $21 million at AEL&P for 2024.