Avista received approval from the Public Utility Commission of Oregon (PUC) of a revised all-party settlement agreement, concluding the proceedings for the general rate request filed on Sept. 2, 2014. New rates will take effect April 16, 2015.
The approved rates are designed to increase annual billed revenues by 4.9 percent or $5.0 million. The $5.0 million billed revenue increase is composed of a base rate increase of $5.262 million, offset by $0.262 million that the company is already receiving from customers through a separate rate adjustment.
"The Commission's decision represents positive outcomes for our customers, the company and our shareholders," said Dennis Vermillion, Avista Corp. senior vice president and president of Avista Utilities. "It supports Avista's efforts to continue to make key capital investments in our utility infrastructure as well as recover the operating costs of serving our customers."