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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.

Rhea-AI Summary
Avista Corp. will hold its quarterly conference call and webcast to discuss second quarter 2023 results on August 2, 2023. A news release with earnings information will be issued at 7:05 a.m. Eastern Daylight Time on the same day. Avista Corp. is an energy company involved in the production, transmission, and distribution of energy. Avista Utilities provides electric service to 414,000 customers and natural gas to 379,000 customers.
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Avista Corp. (NYSE: AVA) has announced the appointment of Wayne Manuel as Vice President, Chief Information Officer, and Chief Security Officer effective June 1, 2023. Manuel comes from Valley Medical Center, where he served as Senior Vice President, Chief Strategy Officer, and Chief Information Officer for nine years. He is credited with developing COVID-19 Operational Dashboards and enhancing cybersecurity measures. Prior to this role, he worked at Cleveland Clinic and Providence Health & Services. Manuel takes over from Jim Kensok, who has been with Avista since 2007 and is retiring this summer. Avista's President and CEO, Dennis Vermillion, expressed excitement about Manuel’s diverse experience and commitment to Avista's innovative culture. The company provides services to over 788,000 customers across its operational territories in the Pacific Northwest.

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Avista has signed an agreement with Pine Creek RNG to procure renewable natural gas (RNG) from projects in Richland, Washington, and Waterloo, Iowa. The initiative follows Avista's October 2022 RFP to secure long-term RNG resources, contributing to lower methane emissions from organic waste. The projects are expected to produce a combined total of 5.1 million therms annually, sufficient to supply around 4,173 homes. Completion of construction is anticipated by the end of 2023, enhancing Avista's goal of reducing natural gas emissions by 30% by 2030 and achieving carbon neutrality in its operations by 2045. Both companies emphasize the environmental benefits of this partnership, signaling a significant step towards a more sustainable energy future.

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Avista has finalized two significant energy contracts aimed at enhancing its clean energy portfolio. The company will purchase approximately 100 megawatts of wind energy from a planned regional project starting by January 1, 2026, which will contribute to over 70% of its peak generating capacity being produced from non-emitting resources. Additionally, a 15-year extension has been made for energy procurement from the 282 MW Lancaster natural gas plant, ensuring reliable generation without the need for new natural gas plants. These initiatives are vital for meeting peak load capacity and renewable energy needs as outlined in Avista's 2021 Electric Integrated Resource Plan.

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Avista Corp. (NYSE: AVA) will hold its quarterly conference call on May 3, 2023, at 10:30 a.m. EDT, to discuss first quarter 2023 results. A news release detailing earnings will be issued at 7:05 a.m. EDT on the same day. The call can be accessed via Avista's website, requiring pre-registration at the Presentations and Events link. The company serves 411,000 electric and 377,000 natural gas customers across a 30,000 square mile territory, primarily in eastern Washington and northern Idaho, with additional services in parts of Oregon and Alaska. For further details, visit Avista's investor relations page.

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FAQ

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

The current stock price of Avista Corporation (AVA) is $37.48 as of October 31, 2024.

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

The market cap of Avista Corporation (AVA) is approximately 2.9B.

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

2.95B
78.19M
0.88%
89.63%
3.08%
Utilities - Diversified
Electric & Other Services Combined
Link
United States of America
SPOKANE