SPOKANE, Wash., Oct. 15, 2002 — Avista Corp.’s request to continue for an additional twelve months an existing power cost adjustment (PCA) electric surcharge of 19.4 percent has been approved by the Idaho Public Utilities Commission (IPUC). With approval by the commission, there is no change to existing electric rates.
In August, Avista filed a request to extend the PCA, which was originally approved by the IPUC in the fall of 2001 and was due to expire on Oct. 11. At the time of the approval last year, the commission directed Avista to file a status report related to continuing the 19.4 percent surcharge. The surcharge has been extended until Oct. 11, 2003, and allows Avista to continue recovering power costs that the company previously incurred to serve its customers.
Avista makes no profit from surcharge revenues and is required to absorb the first 10 percent of excess power costs. The PCA rate adjustment mechanism is designed to recover or rebate changes in certain power supply costs that differ from those costs included in Avista’s base rates.
In its decision, the commission removed from the PCA approximately $900,000 of costs associated with three small generation projects. The company will have the opportunity to address the recovery of those costs in a separate future proceeding. In addition, nearly $580,000 of fuel costs will receive additional review as part of Avista’s next PCA filing.
“The extension of the PCA in Idaho allows the company to continue recovery of wholesale power costs while continuing to offer our customers some of the lowest residential electric rates in the country,” said Kelly Norwood, vice president of rates and regulation.
For more information on conservation tips, energy assistance programs, and bill payment plans, customers are encouraged to visit the Avista Utilities website at www.avistautilities.com, or call 800-227-9187.
Avista Corp. is an energy company involved in the production, transmission and distribution of energy as well as other energy-related businesses. Avista Utilities is a company operating division that provides electric and natural gas service to customers in four western states. Avista’s non-regulated affiliates include Avista Advantage, Avista Labs and Avista Energy. Avista Corp.’s stock is traded under the ticker symbol “AVA” and its Internet address is www.avistacorp.com
Source: Avista Corp.