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December 18, 2013
07:06 EDTAVAAvista reaches settlement in OR natural gas rate request
Avista and all other parties involved in the company's natural gas general rate filing have reached a settlement agreement that, if approved by the Public Utility Commission of Oregon, would conclude the proceedings for the general rate request filed on Aug. 15. If the settlement agreement is approved, new rates would be effective in two phases: Feb. 1, 2014 and Nov. 1, 2014. The settlement proposes that, effective Feb. 1, 2014, Avista would receive an increase in rates designed to increase its annual billed revenues by 4.4% or $3.8M. The second phase would become effective Nov. 1, 2014, and is estimated to provide for an increase of 1.6% or $1.35M. The proposed settlement agreement reflects a 48% equity layer and a 9.65 percent return on equity.
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