December 16, 2011 in Business, City

Regulators approve Jan. 1 Avista rate increases

 

Avista Corp. will be allowed to raise rates on Jan. 1, but not as much as the company requested.

Washington state regulators have agreed to let Avista collect an additional $23.7 million in electric and natural gas revenues, down considerably from the $44.5 million requested by the Spokane-based company in May.

The average Avista electric customer will see his or her rate increase by $3.10 per month, for an average monthly bill of $81.93. The average natural gas customer using about 70 therms a month will pay about $1.83 more, for a monthly bill of $66.69.

In addition, regulators asked Avista to provide a detailed breakdown of wages, bonuses and executive compensation by Feb. 29, in response to public testimony about concern over pay levels at the publicly traded company.


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