Deal still needs approval of Idaho PUC
Avista Corp. has reached a proposed settlement over the company’s request for higher electric and natural gas rates for Idaho customers.
If approved by the Idaho Public Utilities Commission, the settlement would result in a 1.1 percent increase in base electric rates and a 1.6 percent increase in natural gas rates, effective Oct. 1.
However, the bottom line for customers is actually a net decrease in power costs, based on several credits that would take effect at the same time, said Jessie Wuerst, an Avista spokeswoman.
Customers will get a credit on their power bills reflecting lower wholesale rates for energy, Wuerst said. A recent settlement with Bonneville Power Administration also boosts a credit to residential and small farm electric customers, aimed at spreading the benefits from the federal hydropower system across the Northwest.
“While there’s a slight increase in the base rate…when you factor everything together, there’s a net decrease,” Wuerst said.
If the settlement is approved, a typical residential customer would see a 2.1 percent reduction in their electric bills. Bills would drop $1.78 per month to $82.02, based on 956-kilowatt hours of electricity used.
A typical natural gas customer would save 27 cents each month, for a monthly bill of $60.49, based on 62 therms of natural gas.
sponsored Jargon is confusing, by definition. And the financial world has its own set of cryptic words.