Avista Requests Increase in Power Cost Adjustment Surcharge in Idaho
July 31 2007 - 4:53PM
PR Newswire (US)
Annual adjustment reflects higher costs for power SPOKANE, Wash.,
July 31 /PRNewswire-FirstCall/ -- Avista (NYSE:AVA) today filed a
request with the Idaho Public Utilities Commission (IPUC) to
increase its existing power cost adjustment (PCA) surcharge by an
overall average of 2.2 percent, to be effective Oct. 1, 2007. The
annual PCA adjustment seeks to recover the difference between
Avista's actual cost of generating and purchasing electric power to
serve its 118,000 Idaho customers and the cost currently included
in customer rates. The proposed surcharge is designed to recover
increased power costs that Avista incurred during the 12-month
period ending June 30, 2007. (Logo:
http://www.newscom.com/cgi-bin/prnh/20040128/SFW031LOGO ) If
approved by the IPUC, a residential customer using an average of
1,000 kilowatt-hours per month could expect an increase of $1.04
per month, from $69.38 to $70.42, or about a 1.5 percent increase
over current rates. The actual percentage increase will vary by
customer class and will depend on how much energy a customer uses.
The proposed surcharge will replace an existing surcharge that
expires on Sept. 30, 2007. Avista makes no profit from surcharge
revenues and is required to absorb the first 10 percent of
increased power costs. "High costs for natural gas used to generate
electricity combined with reduced hydro generation over the past 12
months are the drivers for the requested PCA increase," said Kelly
Norwood, Avista vice president of state and federal regulation.
"While we work diligently to control the cost of providing energy
services, customers can partner with us by using energy wisely."
Avista offers a wide array of energy efficiency rebates and
incentive programs to help customers manage their energy bill by
using energy efficiently. As a result of these programs, Avista
customers saved more than 46 million kilowatt hours of electricity
and over 1 million therms of natural gas in 2006. For information
on energy rebates and incentives and on Avista's energy assistance
programs, visit http://www.avistautilities.com/. Avista Corp. is an
energy company involved in the production, transmission and
distribution of energy as well as other energy-related businesses.
Avista Utilities is a company operating division that provides
service to 346,000 electric and 306,000 natural gas customers in
three western states. Avista's primary, non-regulated subsidiary is
Advantage IQ (http://www.advantageiq.com/). Avista Corp.'s stock is
traded under the ticker symbol "AVA." For more information about
Avista, please visit http://www.avistacorp.com/. Avista Corp. and
the Avista Corp. logo are trademarks of Avista Corporation.
http://www.newscom.com/cgi-bin/prnh/20040128/SFW031LOGO
http://photoarchive.ap.org/ DATASOURCE: Avista Corp. CONTACT:
Debbie Simock of Avista Corp., +1-509-495-4174, , or Avista 24-7
Media Access, +1-509-495-4174
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