Profile: Avista Corp (AVA)
18 Jun 2019
Avista Corporation, incorporated on March 15, 1889, is an electric and natural gas utility company. The Company operates through two segments: Avista Utilities, and Alaska Electric Light and Power Company (AEL&P). The Company's regional services include government and higher education, medical services, retail trade and finance. The Company's businesses also include sheet metal fabrication, venture fund investments, real estate investments, a company that explores markets that could be served with liquefied natural gas (LNG), as well as certain other investments of Avista Capital, which is a subsidiary of the Company.
Avista Utilities is an operating division of the Company, which consists of its regulated utility operations in the Pacific Northwest. Avista Utilities division generates, transmits and distributes electricity, and distributes natural gas. Avista Utilities division serves electric and natural gas customers in eastern Washington and northern Idaho, and natural gas customers in parts of Oregon. Avista Utilities division also supplies electricity to a number of customers in Montana. Avista Utilities division also engages in wholesale purchases, and sales of electricity and natural gas.
As of December 31, 2016, Avista Utilities' service territory covered an area of 30,000 square miles. It engages in transactions in the wholesale markets by selling and purchasing electric capacity and energy, fuel for electric generation, and derivative instruments related to capacity, energy, fuel and fuel transportation. It provides transmission and ancillary services in eastern Washington, northern Idaho and western Montana. Avista Utilities has an electric resource mix of the Company-owned and contracted hydroelectric, thermal and wind generation facilities, and other contracts for power purchases and exchanges. As of December 31, 2016, the Company-owned facilities had a total net capability of 1,862 megawatts (MW). As of December 31, 2016, Avista Utilities owned and operated six hydroelectric projects on the Spokane River and two hydroelectric projects on the Clark Fork River.
As of December 31, 2016, Avista Utilities owned the thermal generating resources, such as the combined cycle combustion turbine (CT) natural gas-fired Coyote Springs 2, which was located near Boardman, Oregon, and an interest in a twin-unit, coal-fired boiler generating facility, Colstrip 3 & 4, located in southeastern Montana. As of December 31, 2016, Avista Utilities also owned the thermal generating resources, such as a wood waste-fired boiler generating facility, known as the Kettle Falls Generating Station (Kettle Falls GS) in northeastern Washington; a two-unit natural gas-fired CT generating facility, located in northeastern Spokane (Northeast CT); a two-unit natural gas-fired CT generating facility in northern Idaho (Rathdrum CT), and two small natural gas-fired generating facilities (Boulder Park GS and Kettle Falls CT).
As of December 31, 2016, the Company had rights to all the capacity of Palouse Wind, a wind generation project, which was developed, owned and managed by a third-party and located in Whitman County, Washington. As of December 31, 2016, the project had a nameplate capacity of 105 MW. As of December 31, 2016, generation from Palouse Wind was 349,771 megawatt-hours (MWhs). The Company purchases and sells power under various long-term contracts, and also enters into short-term purchases and sales. It also provides distribution transportation service to commercial and industrial natural gas customers, who purchase natural gas through third-party marketers. As of December 31, 2016, Avista Utilities had interest in Jackson Prairie, an underground aquifer natural gas storage field located near Chehalis, Washington. As of December 31, 2016, Jackson Prairie had a total peak day deliverability of 12 million therms, with a total working natural gas capacity of 256 million therms.
Alaska Electric Light and Power Company
Through the Company's subsidiary, AEL&P, it provides electric utility services in Juneau, Alaska. As of December 31, 2016, AEL&P operated five hydroelectric generation facilities with 102.7 MW of hydroelectric generation capacity. As of December 31, 2016, AEL&P owned four of these generation facilities (totaling 24.5 MW of capacity) and had a Power Purchase Agreement (PPA) for the output of the Snettisham hydroelectric project (totaling 78.2 MW of capacity). As of December 31, 2016, AEL&P also had 107.5 MW of diesel generating capacity from four facilities.
1411 E MISSION AVE
SPOKANE WA 99202-1902