Avista Corp. Files Routine 8-K for 'Other Event'

TL;DR

**Avista Corp. filed a routine 8-K, nothing major to see here.**

AI Summary

Avista Corporation filed an 8-K on January 23, 2024, reporting an "Other Event" that occurred on January 18, 2024. This filing, under Item 8.01, indicates a routine disclosure without specific financial figures or major corporate actions. For investors, this means there's no immediate new information impacting the stock price, suggesting business as usual for Avista Corp. (AVA).

Why It Matters

This filing signals no significant new developments for Avista Corp. (AVA), indicating stability rather than immediate catalysts for stock movement.

Risk Assessment

Risk Level: low — The filing is for an 'Other Event' under Item 8.01, which typically covers routine or non-material disclosures, posing minimal risk.

Analyst Insight

A smart investor would note this as a routine filing, indicating no immediate need for action or re-evaluation of Avista Corp. (AVA) based solely on this 8-K.

Key Players & Entities

• AVISTA CORP (company) — the registrant filing the 8-K
• January 18, 2024 (date) — date of the earliest event reported
• January 23, 2024 (date) — date the 8-K was filed
• AVA (company) — trading symbol for Avista Corporation
• The New York Stock Exchange (company) — exchange where Avista's Common Stock is registered

Forward-Looking Statements

• Avista Corporation's stock (AVA) will likely remain stable in the short term. (AVISTA CORP) — high confidence, target: 2024-02-23

FAQ

Key Financial Figures

• $77.1 million — crease annual base electric revenues by $77.1 million (or 13.0 percent of base revenues), eff
• $53.7 million — enues), effective in December 2024, and $53.7 million (or 11.7 percent of base revenues), eff
• $17.3 million — ase annual base natural gas revenues by $17.3 million (or 13.6 percent of base revenues), eff
• $4.6 million — enues), effective in December 2024, and $4.6 million (or 3.2 percent of base revenues), effe
• $18.5 million — rt of the first rate year, accounts for $18.5 million of the Company’s overall electri
• $35.1 million — ip rate base and expenses, accounts for $35.1 million of the Company’s overall $53.7 m
• $4 million — resent construct, the ERM consists of a $4 million deadband, and then an asymmetric sharin
• $10 million — ric sharing band between $4 million and $10 million. All costs above $10 million are shared

Filing Documents

• ava-20240118.htm (8-K) — 38KB
• 0000950170-24-006186.txt ( ) — 145KB
• ava-20240118.xsd (EX-101.SCH) — 23KB
• ava-20240118_htm.xml (XML) — 4KB

01 Other Events

Item 8.01 Other Events. On January 18, 2024, Avista Corporation (Avista Corp. or the Company) filed multi-year electric and natural gas general rate cases with the Washington Utilities and Transportation Commission (WUTC or Commission). If approved, new rates would be effective in December 2024 and December 2025. The proposed rates are designed to increase annual base electric revenues by $77.1 million (or 13.0 percent of base revenues), effective in December 2024, and $53.7 million (or 11.7 percent of base revenues), effective in December 2025. For natural gas, the proposed rates are designed to increase annual base natural gas revenues by $17.3 million (or 13.6 percent of base revenues), effective in December 2024, and $4.6 million (or 3.2 percent of base revenues), effective in December 2025. The proposed electric and natural gas revenue increase requests are based on a 10.4 percent return on equity with a common equity ratio of 48.5 percent and a rate of return on rate base of 7.61 percent. Increasing operating and maintenance costs and ongoing capital investments (including clean energy hydroelectric projects, continued investment in the wildfire resiliency plan, replacement of natural gas distribution pipe and technology upgrades) were the main drivers of proposed increases. In the second year of the proposed electric multi-year rate plan, the Company, in compliance with Washington’s Clean Energy Transformation Act, has removed from customers’ rates the costs associated with generation from Colstrip Generating Station Units 3 and 4. As a part of the electric rate case, the Company proposed certain updates to power supply costs. The updated power supply costs included as a part of the first rate year, accounts for $18.5 million of the Company’s overall electric request. For electric rate year 2, the net effect of increasing base power supply costs (primarily to make up for the loss of Colstrip from the Company's generation portf

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. AVISTA CORPORATION Date: January 22, 2024 By: /s/ Kevin J. Christie Kevin J. Christie Senior Vice President, Chief Financial Officer, Treasurer and Regulatory Affairs Officer

View Full Filing

View this 8-K filing on SEC EDGAR