Avista reported FY 2025 net income of USD 193 million, including USD 201 million from Avista Utilities, USD 6 million from Alaska Electric Light and Power (AEL&P) and a USD 14 million loss from other businesses. Management said results were primarily lifted by the effects of general rate cases, partly offset by higher operating expenses, depreciation and amortization, taxes other than income taxes and interest expense, as well as a USD 9 million customer refund tied to adjustments related to Colstrip investments and higher net investment losses in other businesses. For FY 2025, Avista Utilities posted electric operating revenues of USD 1.34 billion and natural gas operating revenues of USD 584 million, with electric resource costs of USD 413 million and natural gas resource costs of USD 288 million. Avista Utilities’ electric utility margin was USD 931 million and natural gas utility margin was USD 296 million. Consolidated operating cash flow was USD 469 million, while utility capital expenditures were USD 570 million (including USD 553 million at Avista Utilities and USD 17 million at AEL&P). At Dec. 31, 2025, Avista had total debt of USD 3.30 billion and shareholders’ equity of USD 2.71 billion. Operationally, Avista highlighted continued resource adequacy planning and said it issued a 2025 RFP and moved into contract negotiations for: a 14 MW Rathdrum combustion turbine capacity upgrade (staged for 2027 and 2029), a 100 MW/4-hour battery energy storage project targeted for 2028, a PPA for approximately 200 MW of Montana wind targeted for 2029, and roughly 40 MW of demand response programs beginning in 2026. The company also said it expects an ERP system implementation in 2028 with expected capital expenditures of USD 100 million to USD 130 million. On Colstrip, Avista noted the Washington regulator’s final order requires a USD 9 million refund to customers, and that the transfer of Avista’s 15% ownership in Colstrip Units 3 and 4 to NorthWestern closed on Jan. 1, 2026. Avista also said it expects a decrease in customer load from 2025 to 2026 tied to a large industrial customer returning to self-supply in April 2026, with an expected USD 9 million net income impact versus serving that load through December 2026.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Avista Corporation published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001193125-26-067872), on February 25, 2026, and is solely responsible for the information contained therein.