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Avista Corporation - AVA STOCK NEWS

Welcome to our dedicated page for Avista Corporation news (Ticker: AVA), a resource for investors and traders seeking the latest updates and insights on Avista Corporation stock.

Avista Corporation (NYSE: AVA) is a prominent energy company headquartered in Spokane, Washington. The company is intricately involved in the production, transmission, and distribution of energy, serving a substantial customer base across the Pacific Northwest. Avista operates through two primary divisions: Avista Utilities and Alaska Electric Light and Power (AEL&P).

Avista Utilities serves approximately 416,000 electric customers and 381,000 natural gas customers over a 30,000-square-mile territory that includes eastern Washington, northern Idaho, and parts of southern and eastern Oregon. The division is also responsible for managing electric generation facilities located in Washington, Idaho, Oregon, and Montana.

Alaska Electric Light and Power is a wholly-owned subsidiary that provides electric services to around 18,000 customers in Juneau, Alaska. This division plays a crucial role in Avista's overall operations by catering to the energy needs of a unique and geographically distinct market.

Avista Corp. has a long-standing history of innovation, particularly in the renewable energy sector. Founded in 1889, the company has consistently focused on sustainable and ethical business practices. Recently, Avista was recognized for the fifth time by Ethisphere as one of the World's Most Ethical Companies in 2024.

In terms of corporate developments, Avista Corp. has been proactive in addressing the growing demand for energy and the challenges posed by climate change. In 2024, the company introduced a comprehensive 10-year Wildfire Resiliency Plan aimed at enhancing grid safety and reliability. This plan includes grid-hardening projects such as replacing wooden transmission poles with steel and installing fire-retardant wire mesh around the base of poles. Additionally, Avista has increased its vegetation management efforts to minimize the risk of fires caused by contact between trees and power lines.

Avista is also involved in several strategic partnerships and investments through its non-regulated subsidiary, Avista Development, Inc. Notably, Avista Development recently invested in Empower Grid Holdings—a merger of Exceleron Software and PayGo Utilities aimed at improving utility affordability and customer engagement during the energy transition.

Financially, Avista has shown resilience and adaptability. In 2024, the company issued $250 million in long-term debt and $112.3 million in common stock. Avista's liquidity remains strong, with significant available credit lines and planned capital expenditures focused on infrastructure and technology upgrades.

Looking ahead, Avista Corp. has initiated its 2024 earnings guidance with a consolidated range of $2.36 to $2.56 per diluted share. The company anticipates long-term earnings growth of 4 to 6 percent off a 2025 base year, contingent on constructive regulatory outcomes.

For more information about Avista, visit their website at www.avistacorp.com.

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Avista Corp. declares a quarterly dividend of $0.46 per share on its common stock. The dividend is payable on December 15, 2023, to shareholders of record as of November 17, 2023.
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Avista Corp. reported net income of $14.7 million for Q3 2023, compared to a net loss of $5.8 million in Q3 2022. For the nine months ended Sept. 30, 2023, net income was $87.0 million, compared to $77.2 million for the same period in 2022.
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Avista (NYSE:AVA) has received approval from the Public Utility Commission of Oregon (OPUC) for its natural gas general rate case. The approved rates will increase annual natural gas revenues by $7.16 million or 4.7%, effective Jan. 1, 2024.
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Avista Corp. to hold quarterly conference call and webcast for third quarter 2023 results
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Avista Foundation awards over $171,000 in third quarter grants to support Economic and Community Vitality in Washington, Idaho, Oregon, Montana, and Alaska.
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Heather Rosentrater becomes Avista Corp.'s first female President and COO, effective October 1, 2023.
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Avista seeks to secure renewable natural gas (RNG) or responsibly sourced gas (RSG) resources to meet carbon reduction goals. They aim to reduce natural gas emissions by 30% by 2030 and be carbon neutral in natural gas operations by 2045. The RFP is open for proposals, including various RNG/RSG options. Responses are due by Oct. 19, 2023.
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Avista files rate adjustment filings with utility commissions in Washington and Idaho, proposing an increase in electric rates and a decrease in natural gas rates in Washington, and an increase in natural gas rates in Idaho, effective November 1, 2023. The proposed changes include an increase in electric revenues by $3.3 million (0.6%), $1.1 million (0.2%), and $0.1 million (0.0%) for wildfire expense balancing, residential exchange program, and insurance expense balancing respectively. In addition, the proposed changes include an increase in low-income rate assistance program funding by $7.6 million (1.3%). On the other hand, natural gas revenues in Washington are expected to decrease by $8.1 million (3.0%) for purchased gas cost adjustment, while the low-income rate assistance program funding will increase by $4.6 million (1.7%). In Idaho, natural gas revenues are expected to increase by $5.4 million (5.0%) for purchased gas cost adjustment. If approved, residential electric bills in Washington would increase by $2.35 per month (approximately 2.7%), while residential natural gas bills in Washington would decrease by $4.65 per month (approximately 4.8%). Residential natural gas bills in Idaho would increase by $3.54 per month (approximately 4.7%).
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Avista (NYSE:AVA) received approval from the Idaho Public Utilities Commission (IPUC) for new rates, increasing annual base electric revenues by $22.1 million or 8.0% on Sept. 1, 2023, and by $4.3 million or 1.4% on Sept. 1, 2024. Annual base natural gas revenues will increase by $1.3 million or 2.7% on Sept. 1, 2023, and by $0.003 million or 0.01% on Sept. 1, 2024.
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FAQ

What is the current stock price of Avista Corporation (AVA)?

The current stock price of Avista Corporation (AVA) is $39.04 as of November 21, 2024.

What is the market cap of Avista Corporation (AVA)?

The market cap of Avista Corporation (AVA) is approximately 3.1B.

What services does Avista Corporation provide?

Avista Corporation provides electric and natural gas services to customers in Washington, Idaho, Oregon, and Alaska.

Where is Avista Corporation headquartered?

Avista Corporation is headquartered in Spokane, Washington.

How many customers does Avista Utilities serve?

Avista Utilities serves approximately 416,000 electric customers and 381,000 natural gas customers.

What areas are covered by Avista's service territory?

Avista's service territory covers 30,000 square miles in eastern Washington, northern Idaho, and parts of southern and eastern Oregon.

What recent projects has Avista undertaken?

Avista has initiated a 10-year Wildfire Resiliency Plan and is involved in grid-hardening projects, such as replacing wooden poles with steel and increasing vegetation management.

What is Avista's 2024 earnings guidance?

Avista's 2024 earnings guidance is in the range of $2.36 to $2.56 per diluted share.

What is the significance of Avista Development's recent investment?

Avista Development recently invested in Empower Grid Holdings, aiming to enhance utility affordability and customer engagement.

How has Avista been recognized for its business practices?

Avista was named one of the World's Most Ethical Companies by Ethisphere for the fifth time in 2024.

How can I access Avista's upcoming financial results webcast?

The webcast can be accessed through Avista’s website at investor.avistacorp.com, where you must pre-register to obtain call-in details.

What is the ticker symbol for Avista Corporation?

Avista Corporation is traded under the ticker symbol 'AVA' on the New York Stock Exchange.

Avista Corporation

NYSE:AVA

AVA Rankings

AVA Stock Data

3.07B
78.41M
0.87%
89.27%
2.88%
Utilities - Diversified
Electric & Other Services Combined
Link
United States of America
SPOKANE