New electric, natural gas rates take effect January 1

Avista has received approval, with minor changes, from the Washington Utilities and Transportation Commission (Commission or UTC) on the all-party settlement agreement that was filed on Aug. 18, 2014, concluding the company’s electric and natural gas rate requests filed on Feb. 4, 2014. New rates will take effect on Jan. 1, 2015.

The approved rates are designed to increase annual electric base revenues by 2.5 percent or $12.3 million, inclusive of a $5.3 million November 2014 power supply update as required in the settlement agreement. Approved natural gas rates are designed to increase annual...