UTC approves single-year rate plan for Avista customers

UTC approves single-year rate plan for Avista customers
Avista Corporation

The Washington Utilities and Transportation Commission approved a one year plan on Thursday that will boost the average electric bill more than two dollars a month for Avista customers.

Avista had filed a general rate case with the UTC requesting a three-year rate plan.

The company proposed an electric revenue increase of $61.4 million, or 12.5 percent, and a natural gas revenue increase of $8.3 million, or 9.3 percent, for the first year.

For the second year, the company requested an additional $14 million, or 2.5 percent, increase in electric revenues and a $4.2 million, or 4.4 percent, increase in natural gas revenues.

For the third and final year of the proposed plan, the company requested an electric revenue increase of $14.4 million, or 2.5 percent, and a $4.4 million, or 4.4 percent, increase in natural gas revenues.

The three-member commission approved a 2.2 percent increase in electric rates, allowing an increase of $10.8 million in Avista’s electric revenues, and a decrease in natural gas rates of 2.4 percent, resulting in a $2.1 million decrease in natural gas revenues.

The rates approved by the commission include the return to customers of a significant portion of the company’s estimated tax savings due to the 2017 federal tax reform bill, known as the Tax Cuts and Jobs Act.

Under the rates the commission approved, the typical residential customer using 938 kilowatt-hours a month would see an electric bill increase of 2.7 percent, or $2.33, for an average bill of $89.42.

The typical residential natural gas customer using 65 therms a month will see a decrease of 1.2 percent, or $.70, for an average monthly bill of $57.44.

New rates will go into effect May 1.