Avista receives UTC approval on electric, natural gas rate increases Avista received approval from the Washington Utilities and Transportation Commission, or UTC, on the multi-party settlement agreement that was filed with the UTC on October 19, concluding the company's electric and natural gas rate request filed on April 2. New rates will take effect on Jan. 1, 2013 and Jan. 1, 2014. The approved rates provide for an authorized return on equity of 9.8% and an equity ratio of 47%. Avista will increase base rates for electric customers by an overall 3.0% to provide an additional $13.65M in annual revenue. Base rates for natural gas customers will increase by an overall 3.6% to provide an additional $5.3M in annual revenue.
Avista requests natural gas price decrease in Idaho Avista filed its annual Purchased Gas Cost Adjustment in Idaho which could see an overall 14.5% decrease in their natural gas rates on Nov. 1 if approved by the Idaho Public Utilities Commission. Avista's natural gas revenues would decrease by $10.3M or approximately 14.5%. Avista does not mark up the cost of natural gas purchased to meet customer needs, so the filing does not increase or decrease company earnings.