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June 27, 2014
16:16 EDTAVAAvista receives $15M in settlement proceeds from CA energy market litigation
Avista announced the completion of a litigation settlement with various California parties that resulted in Avista Energy, an unregulated indirect subsidiary of Avista Corp, receiving $15M in net settlement proceeds on June 23. The litigation was related to the prices paid in the California spot markets during the years 2000 and 2001. The settlement agreement was finalized and filed with the Federal Energy Regulatory Commission, or FERC, in March, and FERC approved the settlement in early June. This will result in Avista Energy recognizing an increase in pre-tax earnings of approximately $15M, or $10M after-tax. These amounts were not included in Avista Corp.'s original earnings guidance issued for 2014. Avista Corp. will update its earnings guidance for 2014 during its Q2 earnings call in early August.
News For AVA From The Last 14 Days
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July 30, 2015
07:43 EDTAVAAvista names Schlect as Chief Strategy Officer
Avista announced that VP, Controller and Principal Accounting Officer Christy Burmeister-Smith has announced plans to retire on Oct. 1. Ryan Krasselt, currently Avista's director of risk management and assistant treasurer, has been selected to fill Burmeister-Smith's role upon her retirement. Krasselt will have responsibility for Avista Corp.'s financial and accounting activities. Ed Schlect, former executive VP of corporate development at Ecova, will join the Avista officer team on Sept. 8, as VP and Chief Strategy Officer.

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