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United States : Avista Reaches Settlement in Idaho Electric and Natural Gas Rate Requests.

Avista Corp. announced that it and other parties involved in the company's electric and natural gas rate filing have reached settlement agreement that, would result in overall electric increase of 9.3% and a 2.6% natural gas increase, effective October 1, 2010. Partially offsetting the increases, and lowering the bill impact to customers, will be a $17.5 million credit to customers to return the balance of deferred Idaho state income taxes from prior years.

Under terms, if approved by the Idaho Public Utilities Commission, electric revenues would increase by $21.25 million, or an overall 9.3%. The revised power supply costs reflect reduction of about $7 million from the costs included in the company's original revenue increase filing of $32.1 million. Pursuant to terms, electric rates would then increase 3.92% on October 1, 2011, and 1.74% on October 1, 2012, after which the temporary credit would expire.

Natural gas revenues would increase by $1.85 million, or 2.6%. A credit of $500,000 would reduce for one year the natural gas rate increase to 1.9%, or $1.71, for a revised monthly bill of $59.40 for a customer using an average of 65 therms a month. The rate change would also be effective October 1, 2010. Separately, Avista filed annual Power Cost Adjustment which captures difference between its actual cost of generating and purchasing power over prior 12 months and the cost currently included in customer rates.

Avista offers variety of energy efficiency programs for residential, limited income, commercial and industrial customers. Additionally, Avista also offers services for customers such as comfort level billing, payment arrangements and Customer Assistance Referral and Evaluation Services.

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Date:Jul 27, 2010
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