Avista Files Request to Decrease Customer Bills if Interim BPA Payment is Received
March 12 2008 - 4:53PM
PR Newswire (US)
The $9.6 million payment would result in a credit on monthly
electric bills for residential and small-farm customers SPOKANE,
Wash., March 12 /PRNewswire-FirstCall/ -- Avista (NYSE:AVA) today
filed requests with utility commissions in Washington and Idaho
that could result in a monthly credit on electric bills for the
company's residential and small-farm customers provided the
Bonneville Power Administration (BPA) makes interim payments under
its Residential Exchange Program as expected in early April. (Logo:
http://www.newscom.com/cgi-bin/prnh/20040128/SFW031LOGO) If the
interim payment from BPA and commission approvals are received,
Avista's residential and small-farm customers using an average of
1,000 kilowatt-hours will receive on their monthly bill a 4.1
percent or $2.90 credit in Washington and 9.9 percent or $6.98
credit in Idaho. The credit would be effective April 11 through
Oct. 31, 2008. If BPA does not provide Avista with its $9.6 million
interim payment, customer bills will not change in Washington.
However, in Idaho monthly bills would still decrease by 2 percent
or $1.44 due to the expiration of a surcharge relating to the
Residential Exchange Program that was put in place June 1, 2007. In
May 2007 the BPA suspended Residential Exchange Program payments
which, under the Northwest Power Act, provided a share of the
benefits of the federal Columbia River power system to the six
investor utilities of the Pacific Northwest including Avista. Prior
to May 2007 Avista customers received just over $20 million
annually in benefits. Kelly Norwood, Avista vice president of state
and federal regulation, said the temporary reinstatement of the
program is a welcomed first step. "Avista has worked diligently
with other investor-owned utilities in the region to regain for our
customers the benefits due them from the federal hydropower system
on the Columbia River. While we are glad a temporary agreement has
been offered, we will continue to work with BPA toward a permanent
reinstatement of the Residential Exchange Program that is intended
to restore by October our customers' fair share of federal Columbia
River power benefits," Norwood said. 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 our operating division that provides service to
352,000 electric and 311,000 natural gas customers in three Western
states. Avista's primary, non-regulated subsidiary is Advantage IQ.
Our 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. All other trademarks mentioned in this document are
the property of their respective owners. This news release contains
forward-looking statements regarding the company's current
expectations. Forward-looking statements are all statements other
than historical facts. Such statements speak only as of the date of
the news release and are subject to a variety of risks and
uncertainties, many of which are beyond the company's control,
which could cause actual results to differ materially from the
expectations. These risks and uncertainties include, in addition to
those discussed herein, all of the factors discussed in the
company's Annual Report on Form 10-K for the year ended Dec. 31,
2007. To unsubscribe from Avista's news release distribution, send
reply message to
http://www.newscom.com/cgi-bin/prnh/20040128/SFW031LOGO
http://photoarchive.ap.org/ DATASOURCE: Avista Corp. CONTACT:
media, Debbie Simock, +1-509-495-8031, , or investors, Jason Lang,
+1-509-495-2930, , both of Avista Corp., or Avista 247 Media
Access, +1-509-495-4174 Web site: http://www.avistacorp.com/
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