August 25, 2010 in Business, City

Avista rates going up again

Avista customers in Washington will see their electric rates go up 7.2 percent and their natural gas rates rise 3.2 percent starting Dec. 1, according to an agreement pending state approval.

Under terms of a rate case settlement agreement announced this morning, the rate hikes would boost Avista’s annual electric revenues by $29.5 million and natural gas revenues by $4.6 million.

If approved by the Washington Utilities and Transportation Commission, the new rates would mean a residential customer using an average of 1,000 kilowatt-hours of electricity per month would pay an additional $5.62 per month, for a revised bill of $77.41.

A residential customer using an average of 69 therms of natural gas per month would see a $2.17 monthly increase, for a revised bill of $62.20.

Avista’s original request in March was for an electric rate increase of 13.4 percent, or $55.3 million in increased annual electric revenues. The lower increase reflects in part an $11.7 million decrease in power supply costs, primarily due to the decline in natural gas fuel prices.

The Spokane-based utility in March also had requested to raise natural gas rates by an average of 6 percent, or $8.5 million in additional annual revenue. The lower amount in the settlement is due in part to additional natural gas storage to be used starting next May.

Other parties to the settlement are the staff of the state Utilities and Transportation Commission, the Public Counsel Section of the Washington Office of the Attorney General, Northwest Industrial Gas Users, Industrial Customers of Northwest Utilities and The Energy Project.

The commission is not bound by the settlement.

“We believe the settlement agreement represents a fair and reasonable outcome for our customers and for our shareholders,” Dennis Vermillion, Avista Corp. senior vice president and president of Avista Utilities, said in a news release. “The agreement is the result of concessions and compromises on a number of issues to arrive at an outcome that is supported by all parties in the rate filings. It also represents continuing progress in our efforts to timely recover the costs of serving our customers.”

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53 comments on this story so far. Add yours!

deacon46 on August 25 at 10:16 a.m.
Hey Avista have you heard of the recession. The hell with your shareholders…….
Scoutster on August 25 at 10:57 a.m.
Poor Dan…
Time to suit up again.
Let’s be nice and avoid the personal.
Dan_at_Avista on August 25 at 11:08 a.m.
Scouster, thanks for thinking of me … We’ll have a post up on the Avista Blog before noon. http://www.avistautilities.com/blog
Remember, this agreement still has to be approved by the WUTC, so this isn’t the final word on the rate request.
Albert on August 25 at 11:58 a.m.
Avista’s corporate greed is beyond disgusting. Competition? What competition?? Unfortunately there isn’t a thing that any of can do about this injustice. You might as well shout to the walls…nobody listens and the graft, corruption, “political contributions” and…all spell disaster for us on ever-shrinking incomes. Outside of the very comfortable income that Dan enjoys, I question how he can sleep nights…but of course, that isn’t a problem is it?
tea42 on August 25 at 12:06 p.m.
Please keep it civil….With the continued rip off of Avista customers its difficult. Energy rates on the open market continue to trade near decade lows, yet Avista just keeps pilling the charges on, And the utilities commision just bends us all over and says take it.. Mean while Avista employees make higher than average salaries and benefits, and we are all well aware of the outrageous pay received by Avista upper management. This is a monopoly, no competition, resession, massive energy deflation, yet Avista rates keep exploding higher. Is anyone looking out for the average joe?? I think not.
Frustrated
Orange on August 25 at 12:07 p.m.
Ok, who’s the first to protest by shutting off your own electricity and gas? Time to protest. Blogging does nothing. Surround Avista’s sprawling acres with signs of disgust.
andrewz on August 25 at 12:11 p.m.
I’d like to reiterate what Scoutser and tea42 said: Let’s keep this civil, and avoid personal attacks, for Dan and any other commenters. Thanks.
healinhand on August 25 at 12:15 p.m.
There is competition…..Put in solar panels like I did. Then they will pay you
empyrius on August 25 at 12:16 p.m.
Taxpayers pay to build the dams, then the dams get privatized, and then we taxpayers, uhhh, excuse me, us consumers that is, each and every one of us, get a monthly bill for using the energy that we originally paid for to extract . . .
Hmmmmmm
Don’t these ideas come from the same people that tell us people making money off other peoples money by say, buying stock in businesses such as Avista, is why capitalism is nothing but a gift from God . . .
Yeah they are those same evil people!
Workers of the world unite! Let us appropriate the natural resources of the world for all of our benefit and let us rid ourselves of the few who handsomely profit! Same goes for Comcast and Plese realty: etc., etc., etc… .!
Back to you Dan
empyrius on August 25 at 12:18 p.m.
What?!? No ad hominems?!?
Ahhhhh shucks!
mikeln on August 25 at 12:32 p.m.
Dennis must be in line for the top job at avista. As I have said before, avista is nothing more than an old boys club, with the people at the top waiting in line to rob you. I have lived off grid for twenty years and do not miss those power bills that come in the mail every month, not careing if you just lost your job because the place you worked for sent it overseas, all the while paying nothing to do buisness in our country. The problems with this country are many with no one but the wealthy in leadership positions.
zelda on August 25 at 12:48 p.m.
Growth is nil. Business customers are vanishing. Customers are conserving. People without jobs cannot afford to pay their utility bills. There is nothing Avista can do to reduce its fixed costs. Executive compensation cannot be reduced. Employees cannot take two furlong days per month. Benefits cannot be reduced. Salaries cannot be lowered. Headcount cannot be cut. Administrative budgets cannot be trimmed.
The power company is powerless.
Scoutster on August 25 at 1:21 p.m.
So, Dan, I have a serious question:
How does this really work? I mean, obviously no serf wants to pay more. And, it would be simple to just reduce the dividend and take whatever is justifying this latest “need” out of profits instead of sucking it out of serfs.
So, why doesn’t that happen? Do we just not protest loud enough? If we had hundreds at the WUTC mtg, would that make a difference? What is the criteria the “regulators” (WUTC) use to make a decision? Is their first charge to protect profits, ensure sustainability of the utility, ensure access to the widest number of consumers, ???
Why do we feel so powerless to stop this? And, if one were truly interested in stopping this from happening, what would one do?
madscientist on August 25 at 1:30 p.m.
3 things you can do: MOVE! , quit whinning and take it like a man, or disconnect. Go solar as healinland said.
william1977 on August 25 at 1:31 p.m.
So looking forward to the day I can say adios to Avista…technology is becoming less expensive for solar panels and other means to live “off the grid”
What will Avista do then? The day will come- regardless of what they say. It will….
jerrysw on August 25 at 1:35 p.m.
All across the U.S. salaries are declining, meanwhile everything is getting more expensive. They wonder why people aren’t spending money … it’s because we don’t have any to spend. Meanwhile in the last 8 years the wealthiest (less than 1%) income has tripled. It’s terrible the amount of greed that has overtaken this country.
BigE on August 25 at 2:02 p.m.
Dan cannot throw his spin at me, Inland Power takes good care of us in the country, that and solar panels.
Educate yourself on becoming energy independent, like everything, it takes effort people, you may have to sign off and go outside, yes out there.
When profits shrink, we flip a switch and poof, Dan the Man is back in dance class, yea.
Dan_at_Avista on August 25 at 2:03 p.m.
Sorry everyone been in employee meetings - one of my other jobs all day today - should be able to answer scoutster this afternoon when mtgs are over.
Blondscence on August 25 at 2:05 p.m.
Avista doesn’t care what you think or say or do. Competition for control of the dams would help substantially. Bet Avista would starve anyone out in that court case. They know 90% or so of people cannot afford solar…besides Avista likely own much of the solar in the area anyway. Ecolite is a super panel maker in the valley. Avista’s trying to purchase control of them quietly.
So we’re stuck. Perhaps the Feds would have an opinion on this. Who volunteers?
spokanada on August 25 at 2:21 p.m.
Dan, Dan the Avista Man, if he can’t spin it no one can!
Like any socially responsible company we are doing whats best for our customers.blah blah blah.
kingfisher42 on August 25 at 2:25 p.m.
this is crap,,its just like when gas goes up in the summer lets see how hard we can squeeze the public just becouse we can
Thayne on August 25 at 3:02 p.m.
If Dan doesn’t like the comments then he can stay off the blog. I’m a renter and have no way of installing solar. Every year they raise the rates! Maybe if enough of us showed up at Avista or the WUTC meeting they might reconsider, I doubt it. Maybe we need to start a energy coop instead of having to deal with a company that genuflects to its shareholders. Where do I go to see who the biggest shareholders are? The greed of the executives at Avista is amazing.
Shylock13 on August 25 at 3:44 p.m.
I agree with Zelda Krup, whose comment was super. Before increasing the rates for customers, Avista should: (1) cut by at least 15% and then freeze executive compensation for at least three years; (2) cut dividends by 35% and then freeze them at that level for three years; (3) cut the budget 5% across the board (or, in the alternative, 5% total); and (4) freeze all benefits at their present level for three years. After these steps are taken, Avista can come back IN THREE YEARS and ask for a rate increase! Avista deserves NONE now!
Say, Dan, how many of my suggestions are not possible, and why are they not possible?
Dan_at_Avista on August 25 at 3:58 p.m.
Sorry I haven’t been able to jump on here today. I’ve been in our quarterly employee meetings, one of the things I organize for Avista. We held four in Spokane, Spokane Valley and Coeur d’Alene today. Our CEO Scott Morris and President Dennis Vermillion spoke to employees about a major initiative that the company has been undertaking – finding new ways to be more streamlined, keep costs low and continue to provide the service that customers expect.
Every employee here knows that this is the new norm. While we can’t possibly streamline enough to off-set the major costs that are associated with the rates request settlement we announced today, we can do everything possible to keep those numbers as low as reasonably possible.
For some out there any increase is too much and no justification can be had. I get that. But it’s not realistic to think costs aren’t going to rise. The costs of what we do go up and up every day. Look at any service or product you buy. I wrote a lot on the blog over the last few months how power supply (the actual energy) and infrastructure replacement/investment costs are driving rate increase requests. That will continue to hold true year after year.
Scouster asked why don’t we take the money the utility needs out of profits. We do. The business model for an investor-owned utility pays back those who invest and take the risk with us, similarly to paying back a bank loan. Utilities generally pay this through a dividend. The more attractive the company to investors, the better its credit rating, which helps secure lower interest financing and so on. Much of the rest of that money - or retained earnings - goes back into the business. This is a bit of an over-simplification, but the general points are there.
Scouster also said customers are powerless to stop this. Note that today’s announcement is a settlement between many parties, including those designated to represent customers. These parties have seen every fact we can present and have agreed that the settlement is fair. The numbers announced are lower than originally requested. It’s now up to the WUTC to approve the settlement agreement.
Sorry this is so long. As for the attacks on me. I understand the frustration, no one wants to pay more for their service. I just hope we can try to understand the reasons why, rather than jumping personal attacks or just lashing out without any attempt to be reasonable.
Blondscence on August 25 at 4:24 p.m.
It’s been granted. No reason to argue. Commission gave Avista their request. Dan confirm this? Let’s have some honesty. It’s already done. I’m thinking this is Avista’s way of letting us have some feedback which they knew would be negative. A little birdy just flew in and let me know. Is my birdy wrong Dan?
Albert on August 25 at 4:26 p.m.
“While we can’t possibly streamline enough to off-set the major costs that are associated with the rates request settlement we announced today, we can do everything possible to keep those numbers as low as reasonably possible.” This sounds like Mr. Obama declaring his intentions to become a member of the Republican Party.
misjustice on August 25 at 5:46 p.m.
Rates keep going up, so does the corporate payroll; coincidence or not? (don’t answer me, Dan it’s a rhetorical question and we all know what your answer will be, blah, blah, blah…)
S. L. Morris … … … … … … . .
Chairman of the Board,
President & Chief Executive
Officer
2009; $630,001
2008; $626,308
2007;$452,461
M. T. Thies … … … … … … …
Sr. Vice President & Chief
Financial Officer
2009; $314,998
2008; $72,692
M. M. Durkin … … … … … … .
Sr. Vice President, General
Counsel & Chief Compliance
Officer
2009; $274,999
2008; $273,075
2007; $264,992
K. S. Feltes … … … … … … …
Sr. Vice President & Corporate
Secretary
2009; $240,001
2008; $238,077
2007; $213,192
D. P. Vermillion (8) … … … … . .
Sr. Vice President &
Environmental Compliance Officer
2009; $289,230
These figures are salary ONLY and do not include Stock Awards, Non-Equity Incentive Plan Compensation, Pension and Non-Qualified Deferred Compensation, or “Other” Compensation.
All figures pulled from page 33 of Avista’s 2010 Proxy Statement. Click on link to read document, or to print it and burn it…
http://www.avistacorp.com/documents/ProxyStatement_FINAL.pdf
monkeyman on August 25 at 6:48 p.m.
mj’s above figures do not seem to include “other” compensation. (Stock options may or may not have been exercised, I think.)
BASIC COMPENSATION
Total Annual Compensation, 630,001
All Other 1,285,030
Fiscal Year Total 3,028,020
Yes, that is 3 million dollars. Unfortunately, screwing the customers is in the best interest of the CEO so he can maximize the stock options’ value.
source: http://www.reuters.com/finance/stocks/officerProfile?symbol=AVA&officerId=157761
And others in the gang…
Name Fiscal Year Total
Morris, Scott 3,028,020
Thies, Mark 831,234
Durkin, Marian 791,090
Feltes, Karen 759,007
Vermillion, Dennis 733,929
misjustice on August 25 at 7:02 p.m.
Yeah, Monkeyman, I was disgusted enough just posting the escalating salaries that I only made a passing reference to the other ways that corporate hacks are compensated. But, but, but, that has NOTHING to do with escalating rates…ask Dan (whom we must bow to or risk having our posts yanked) he’ll tell us all how there is no correlation.
eagleproducer on August 25 at 7:26 p.m.
I disagree with Dan’s assessment of price trends for commodities in today’s economic climate. The Fed just recently purchased billions in Treasury securities to head off a DEFLATIONARY SPIRAL. Prices for energy have plummeted during the recession (due to supply/demand relationships) so how have Avista’s costs continued to soar other than, as MsJ articulated, compensation for upper management?
Another shakedown of citizens by a syndicate. Don’t you just love the third world?
Scoutster on August 25 at 8:37 p.m.
Is there a guaranteed yield or dividend?
Dan_at_Avista on August 25 at 8:53 p.m.
Spoketucky, not sure where you’re getting your info. Supply and demand for our products (electricity/ natural gas) have much more to do with weather than economic conditions. Prices plummeting? Natural gas prices have declined somewhat recently, but that’s been a slow trend that has to do with new resources like shale gas, among other things.
Scoutster, there is no guaranteed yield for us or dividend for investors. The utility commissions set our allowable ROI, but its an accounting target, not a guarantee at all.
Dazzeetrader1980 on August 25 at 8:58 p.m.
Well well well…looks like Dan went home. I’d like to say “let the market float” and that “competition is always good”.
When there’s only a captive market and when there can be no competition, I think this is unconsionable. I wonder when some force might step in and call a halt to it.
This is an extreme version of why regulation is needed in some areas. Not because CEO’s, etc make too much money. It’s a flaw in the system that allows principles of competion to be violated. It’s a damned strangle hold. Suffocating economy and they make their move as if the citizens are enemies.
Most of my past year’s posts are eliminated now. I have no dog in the fight. I do know when a serious screwin is taking place though.
misjustice on August 25 at 9:09 p.m.
“Key developments for AVISTA CORP (AVA)
Avista Corp. Declares Quarterly Dividend, Payable on September 15, 2010
08/13/2010
Avista Corp. declared a quarterly dividend of $0.25 per share on the company’s common stock. The common stock dividend is payable Sept. 15, 2010, to shareholders of record at the close of business on Aug. 26, 2010.”
http://investing.businessweek.com/research/stocks/snapshot/snapshot.asp?ticker=AVA:US
In the following passage we, the ratepayers, can get a true sense of Mr. Morris’s pride in being able to “reset general rates for all of our jurisdictions since… 2009.” Which essentially means raise our rates…
“Avista Corp. Reports Improved Financial Results for Fiscal Year and the Fourth Quarter 2009
Board of Directors Increases Common Stock Dividend by 19 Percent
SPOKANE, Wash. – Feb. 18, 2010, 4:05 a.m. PT: Avista Corp. (NYSE: AVA) today reported net income attributable to Avista Corp. of $87.1 million, or $1.58 per diluted share, for the year ended Dec. 31, 2009, compared to $73.6 million, or $1.36 per diluted share, for the year ended Dec. 31, 2008. For the fourth quarter of 2009 net income attributable to Avista Corp. was $22.1 million, or $0.40 per diluted share, compared to $17.5 million or $0.32 per diluted share for the fourth quarter of 2008.
“Overall, we are pleased with our results for 2009, which showed considerable improvement over 2008,” said Avista Chairman, President and Chief Executive Officer Scott L. Morris.
“We are also pleased to announce that on Feb. 12, 2010, our board of directors increased the common stock dividend to $0.25 per diluted share. The dividend increase is indicative of the board’s confidence in our continued progress toward achieving our goals, and it provides a demonstration of that confidence to our shareholders.
“In 2009, we made progress in the recovery of our costs and capital investments in our generation, transmission and distribution infrastructure. We reset general rates in all of our jurisdictions since the middle of 2009.
“Although we were disappointed with the Washington Commission’s decision in our general rate case, which authorized a rate increase effective Jan. 1, 2010, the order provides additional guidance for procedures and documentation that we believe will facilitate improved cost recovery in the future.
“Even in these challenging economic times this past year, the number of retail customers grew with net additions of over 2,000 natural gas customers and 1,800 electric customers.”
http://www.faqs.org/sec-filings/100218/AVISTA-CORP_8-K/dex991.htm
Shylock13 on August 25 at 10:17 p.m.
Dan, please respond to my earlier post. I did not think that you would, and—so far—you have not. Please note that most of those folks commenting after my post, and after your last pathetic one, agree on what Avista should do/cut BEFORE getting ANY INCREASES! And many of them provided specific figures! But I guess I’m wasting my time. You do not dare respond directly to the issues!
Scoutster on August 25 at 11:17 p.m.
Dan…
So, if there is no guarantee of return, is there anything besides the desire to optimize profits, that prevents the board from saying:
“The little people are suffering…let’s take 10 cents off our dividend and not ask for a rate increase.”?
They COULD do that, could they not?
Dan_at_Avista on August 26 at 8:36 a.m.
Teddy, your suggestions aren’t bad, but I obviously can’t answer those hypothetical questions here, arbitrary cuts dont make sense, based on percentages alone. Im not avoiding the question, but itll take some effort to get you a reasonable answer. E-mail me at conversation@avistautilities.com so we can continue.
misjustice on August 26 at 8:36 a.m.
Theodore; Dan, the corporate answer man, can not give an answer that doesn’t jibe with the corporate line. It’s not his fault, he’s just doing what he’s told and paid to do. The readers can conclude that the “board” does not, will not, consider cost cutting measures. Why should they when they can just raise rates?
Dan_at_Avista on August 26 at 8:41 a.m.
Scouster, yes the board could do that, but understand that such an action would have much greater impacts and wouldn’t automatically makes your rates go down. It impacts our financing among other things.
eagleproducer on August 26 at 8:49 a.m.
Scouster: Of course they COULD but they WON’T.
Here is my approximation of what Dan’s response to you will be:
Investors would just take their money to another monopoly with guaranteed profit structures with less noisy and more appreciative “customers.”
Especially for you, Danny Boy:
http://www.eia.doe.gov/oog/info/ngw/ngupdate.asp
http://tfc-charts.w2d.com/historical/NG/2008/1/linewchart.html
The second link provides a graph that indicates what natural gas was trading for on the open market prior to the recession. You’ll see it was nearly $12.00 per MMbtu and currently futures for natural gas are below $4.00. So unless the cost of a rain drop/snow flake eventually winding it’s way into one of OUR reservoirs suddenly went through the roof, your claim that costs associated with generation have increased is simply incorrect.
The first link is a report showing natural gas storage capacity has been increased dramatically in recent years, which has also been a factor in a downward trend in prices. A quote from the Department of Energy report:
“Natural gas spot prices decreased this report week, as temperatures moderated for much of the country. A robust supply level in the Rocky Mountains, in the face of dwindling storage opportunities, was a likely factor leading to steep price declines in many markets west of the Mississippi. During the report week, the Henry Hub spot price decreased by $0.03 to $4.35 per million Btu (MMBtu).”
Avista will let us all sit in the cold before they surrender a dime of profit. They need to be taken over as a public utility like in Seattle. These high rates discourage production and new development plus remove money from other sectors of the economy that need it more than Avista!
We (the ratepayers who insure their profit) need to make sure this does not happen by overwhelming the WUTC and Avista with protest. I think this blog would be a great way to start organizing this movement.
Scoutster on August 26 at 11:06 a.m.
How do we serfs go about taking over a utility?
spokelooneh on August 26 at 11:47 a.m.
Good info, tucky.
I can understand Avista having some increases in infrastructure related costs, however, with the DRAMATIC decrease in NG costs (which Avista uses to supplement their hydropower operations) AND the DRAMATICALLY lower NG prices for delivery to customers, I simply cannot understand why they are having to raise rates as this time.
And most forecasters are predicting a cold and wet winter this year which will keep Avista’s dams running full out while also creating an overall demand increase due to such weather. Remember that Avista said that the 2009-2010 winter season had driven sales down due to mild weather conditions.
They also seem to continually play a game of chicken with WUTC and the other regulators. They come in with demands for an unjustified large rate increase, KNOWING the regulators will knock that down some, but they still get a retail price increase in an environment where their wholesale costs are dropping significantly.
As to plug in solar, even for renters, it is coming.
“For Lean Budgets, a Plug-and-Play Solar Array
By JIM WITKIN
Green: Business
For eco-conscious homeowners who have considered a solar system for their rooftops but have found the cost and complexity daunting, Clarian Power thinks it has an idea.
The Seattle-based clean tech start-up is developing a “plug-and-play” solar appliance called the Sunfish that will generate clean solar electricity for the home. “You bring it home and plug it in, just like a refrigerator, and it will cost about the same,” said the company’s president, Chad Maglaque. … ”
http://green.blogs.nytimes.com/2010/08/16/for-lean-budgets-a-plug-and-play-solar-system/
Scoutster on August 26 at 11:50 a.m.
And, Dan, I understand that such a terrible thing as turning back profits would have a negative effect on the bond ratings, etc.
It’s a question of priorities and what matters to people. A hedge fund manager in NYC doesn’t give a sh*t about the poor widow in Veradale without heat.
misjustice on August 26 at 11:51 a.m.
@ scoutster; my guess would be to buy enough shares of Avista stock in order to have a controlling interest/vote. Or, alternatively, storm the Bastille as the French serfs did.
This is a link outlining the processes and difficulties surrounding the municipalization of a utility…
http://www.alliantenergy.com/Newsroom/IntheNews/014615
misjustice on August 26 at 11:59 a.m.
@ spokelooneh; thanks for the link. It is a very interesting article. The Sunfish, should it meet the UL criteria, sounds like an affordable innovation.
spokelooneh on August 26 at 9:22 p.m.
For a look at a well run city owned utility, take a look at the City of Alameda, literally in the SF Bay area. They hadn’t raised rates in FIVE years until recently, then a modest 3.7%. They have rates far lower than nearby cities, and have the most renewable energy (as a percentage) of any utility in California.
http://www.alamedamp.com/2010-press-releases/656-pub-adopts-2011-budget-adjusts-rates
Now that giant private utility PG&E lost the ballot initiative that they spent $45M on, expect to see a wave of municipalities in CA bringing their utility services “in-house”.
“Despite a massive $46 million campaign, Proposition 16 — the California ballot measure backed by utility Pacific Gas & Electric — failed in yesterday’s election with 52.5 percent of voters saying no to the company’s attempt to block local governments from creating or growing their own municipal utilities. … ”
http://green.venturebeat.com/2010/06/09/pge-loses-its-46m-prop-16-battle-in-california-a-win-for-grid-innovation/
eagleproducer on August 27 at 8:44 a.m.
Dan? Dan?
Dan_at_Avista on August 27 at 9:56 a.m.
Spokelooneh and spoketucky,
You gotta dig a bit deeper on that Alameda MP story. You’re facts are correct, but you neglected that AMP’s rates are about 40% higher than Avista’s WA electric rates.
For the first 600 kwh Avista’s rate is 6.105 cents currently. AMP charges 10.28 cents per kwh (and on up to 18 cents based on their tiered system).
So are you upset that rates are going up? Or that you actually pay significantly less for your electric service from Avista? Kind proves the point that your rates here aren’t so bad.
eagleproducer on August 27 at 11:15 p.m.
I didn’t say anything about AMP and you neglected to address any of my valid points, namely that your claim wholesale rates for natural gas haven’t dipped precipitously since the recession began. Your costs are lower, period, except for executive compensation.
tea42 on August 31 at 8:18 a.m.
Excellent spoketucky, from 2004 thru 2006 NG prices averaged around $7.00 reaching a high in late 2005 of $15.00. From 2006 thru 2008 prices averaged just below $8.00. In 2008 prices climbed to nearly $14.00 before falling in July of 2008. In jan of 2009 prices where at $6.00. In May NG was trading at $3.50 it contiued to fall to $2.70 by October. So Ng prices have fallen dramatically. Dan where does Avista buy there gas? Mars maybe? Prices continue to be historically low trading at or around $4.00. So how come I didn’t see a dramatic lowering of my NG rates from Avista??
This data can be found at any NG futures trading site.
Dan?
monkeyman on August 31 at 9:28 a.m.
Given the corporate officers pay (rough estimate of $10 million for top 10), one would expect them to produce enough gas between themselves to power the whole city.
eagleproducer on August 31 at 10:49 a.m.
I always love Avista’s predictable excuse each time they ask for more profit from their customers: “Your energy rates are much lower than other parts of the country.”
That’s why the public built the dams, so we could enjoy cheap energy in our homes and to attract development. Thanks for kissing that goodbye as well.
In places like Saudi Arabia the public shares the revenue from natural resource exploitation. In the good ol’ U.S. of A. we are expected to purchase what we already own.
tea42 on October 11 at 7:57 a.m.
Again when asked for real facts, Dan is missing in action. NG rates Dan, how about addressing those facts??!!