Avista Corp - Company Profile
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Business Description
Avista Corp (Avista) is an electric and natural gas utility, which carries out the production, transmission and distribution of energy and other energy-related businesses. It procures natural gas from the wholesale market with a portfolio of forward fixed price purchases, index and spot market purchases using physical and financial derivative instruments.
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Business Segments
Overview
Provides electric services. Serves city, state and federal governmental entities, and a mine. In FY2022, the segment's capital expenditure stood at US$8.6 million, which grew 113.8% YoY.
Performance
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Overview
Generates, transmits and distributes electricity; and distributes natural gas. Serves residential, commercial, industrial, public street and highway lighting and wholesale customers. Produces electricity using hydro, wood waste, wind, natural gas and coal sources. Owns and operates Noxon Rapids and Cabinet Gorge facilities on the Clark Fork River, and six smaller hydroelectric projects on the Spokane River. Also owns the combined cycle natural gas-fired plant, known as Coyote Springs 2 at Boardman in Oregon; the Kettle Falls GS wood waste-fired boiler generating facility in northeastern Washington; two-unit natural gas-fired CT generating facility in northeastern Spokane, two-unit natural gas-fired CT generating facility in northern Idaho and two small natural gas-fired generating facilities, Boulder Park GS and Kettle Falls CT; and 15% interest in units 3 & 4 of the Colstrip GS coal-fired boiler generating facility in southeastern Montana. Has interests in the 105-MW Palouse Wind project, 28-MW Lind Solar Farm; purchase agreement with Clearway Energy Group for power generated from the 144-MW Rattlesnake Flat Wind project in Washington; and agreements with various hydroelectric projects, cogeneration projects and wind generation projects at rates approved by the WUTC and the IPUC. Under long-term and short-term contracts, it owns and purchases capacity, energy and fuel for generation; and sells electric capacity and energy, and fuel in the wholesale market. Has electricity generating facilities in Oregon, Washington, Idaho and Montana. Provides transmission and ancillary services in eastern Washington, northern Idaho and western Montana. Purchases natural gas from various supply basins over varying time periods with a portfolio of forward fixed price purchases, index and spot market purchases on wholesale basis by using physical and financial derivative instruments. It is connected to various supply basins in the western US and Canada through firm capacity transportation rights on six pipeline networks. Has 11% interest in ~500 miles of a 500 kV line between Colstrip, Montana and Townsend, Montana; and has 33% interest in Jackson Prairie, an underground natural gas storage field near Chehalis. In FY2022, the segment's capital expenditure stood at US$443.4 million, which grew 1.7% YoY.
Performance
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Overview
Holds interests in venture fund investments, real estate investments and other investments. Operating company: Avista Capital. In FY2022, the segment's capital expenditure stood at US$0.8 million, which decreased 34.3% YoY.
Performance
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