First it was natural gas rates going down in Washington and Idaho, now its electricity too. Nothing wrong with that if you’re a customer. If regulators in Washington and Idaho approve our requests, residential and small farm customers should see a decrease in electric rates starting August 1.
The decrease, if approved, is a result of Avista passing through a benefit from Bonneville Power Administration's (BPA) Residential Exchange Program. The program is part of the Northwest Power Act, which provides a share of the benefits of the federal Columbia River power system to the six investor-owned utilities in the Pacific Northwest, including Avista. Avista passes the program’s benefits (or cost savings) on to customers.
This news release contains forward-looking statements regarding the company's current expectations. Forward-looking statements are all statements other than historical facts. Such statements speak only as of the date of the news release and are subject to a variety of risks and uncertainties, many of which are beyond the company's control, which could cause actual results to differ materially from the expectations. These risks and uncertainties include, in addition to those discussed herein, all of the factors discussed in the company's Annual Report on Form 10-K for the year ended Dec. 31, 2008, and the Quarterly Report on Form 10-Q for the quarter ended March 31, 2009.