Spokane

Spokane, WA-based Avista Utilities last Thursday announced it plans to launch what it called a “comprehensive and innovative” demand response program for all of its electric and natural gas utility customers in three states, Idaho, Oregon and Washington. The program will take a multi-faceted approach to energy efficiency.

The Idaho Public Utilities Commission Wednesday said it will take comments through Oct. 24 on two natural gas rate adjustments proposed by Spokane, WA-based Avista Utilities. The net result of the two requests would be a 2% decrease in charges for its 65,000 customers in northern Idaho.

Spokane, WA-based Avista Utilities filed two requests Thursday with the Idaho Public Utilities Commission (PUC) to adjust its natural gas and electric utility rates for its operations in the state, effective Nov.1. Two gas rate changes requested would increase residential customers’ monthly bills 4.3% and large commercial/industrial customers by 4.7%, the company said, while two changes on the electric side would result in an increase of less than 1% (0.70%).

Spokane, WA-based Avista Utilities last Thursday filed separate requests with the regulators in Washington and Oregon to adjust its natural gas and electric utility rates in those states. The utility said the changes are driven by increasing costs associated with meeting what it called “growing electric and natural gas demands of customers.”

Citing some higher costs of short-term borrowings that will go away in the longer-term, Spokane, WA-based Avista Corp. last Wednesday reported lower second quarter profits, but sharply increased net income for the first half of this year, compared to similar periods last year. Avista’s CEO still expects 2006 to be a “good year.”

Spokane, WA-based Avista Corp. Wednesday reported first quarter 2006 earnings that are three times more than results in the first quarter of last year — $31.6 million, or 64 cents/diluted share, compared with $10.2 million, or 21 cents/diluted share, for the same period in 2005. Avista Utilities reported $26.1 million in earnings compared with $18.9 million the same quarter last year.

Idaho’s Public Utilities Commission announced Monday that it is accepting written comments and will hold a public workshop May 16 regarding a request by Spokane, WA-based Avista Utilities to form a new holding company to be called AVA Formation Corp. Written comments to the PUC will be accepted through June 16.

Standard & Poor’s Ratings Services last Friday affirmed the “BB+” corporate credit rating of Spokane, WA-based Avista Corp, citing the stability of the company’s utility operations as the primary reason. The outlook is stable, and both the rating and outlook also take into account Avista’s higher-risk energy trading and other nonutility operations, S&P said.

Saying it had no choice in the face of the skyrocketing wholesale natural gas prices, the Idaho Public Utilities Commission Thursday raised the natural gas rates for Spokane, WA-based Avista Utilities’ 66,000 retail customers in the state by an average of 23.8%, effective Tuesday. The $15.2 million rate hike is strictly to cover the utility’s increased cost of gas supplies.