Avista Faces Wildfire Impact; Rate Increases for Fire Damage Considered
Avista reports $35 million in Q2 net income amid wildfire damage affecting infrastructure and customer service. The company may seek approval from regulators to pass wildfire-related costs to ratepayers, depending on future assessments of damage.
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Avista's facilities were confirmed not to have initiated the recent wildfires in Spokane, which caused extensive damage, including the destruction of 700 to 1,100 structures. The company is considering filing a petition with the Washington Utilities and Transportation Commission to recover wildfire-related costs from customers.
Currently, approximately 7,300 electric and 5,300 natural gas customers remain without service due to infrastructure damage and safety concerns. The utility is actively repairing transmission lines and has restored service to some customers affected by preventative power shutoffs. Avista's ongoing efforts are crucial, as they may face increased operational costs and potential rate adjustments based on the extent of wildfire impacts.
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