Avista (AVA), the Staff of the Public Utility Commission of Oregon, the Oregon Citizens’ Utility Board, Alliance of Western Energy Consumers, AWEC, and the joint intervenor Climate Solutions/Green Energy Institute at Lewis & Clark Law School, parties to the Company’s natural gas general rate case, have reached a settlement agreement that has been submitted to the Commission for its consideration, and which would resolve all issues in the proceeding. If approved, this settlement would result in a base revenue increase of $4.2 million, as compared to Avista’s original request of $7.8 million. The agreed-upon revenue requirement is predicated on a proposed rate of return of 7.219% with a common equity ratio of 50% and a 9.5% return on equity. As a part of the settlement, the parties agreed to accelerate the use of certain customer tax credits to partially mitigate the billed impact to customers, over a three-year period. As a result, the overall increase customers would experience is 2.0%.
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