Avista Corp. Reports $193 Million Net Income for Fiscal Year 2025

**Avista Corp. Reports Increased Net Income Driven by Rate Case Effects**

Spokane, Washington - Avista Corporation (NYSE: AVA) reported a net income of $193 million for the fiscal year ending December 31, 2025, compared to $180 million in 2024 and $171 million in 2023. The increase in net income was primarily attributed to the effects of general rate cases, which were partially offset by increases in other operating expenses, depreciation and amortization, taxes other than income taxes, and interest expense. Total shareholders’ equity for Avista Corp. stood at $2.709 billion as of December 31, 2025.

Avista Utilities, the company's regulated utility operations in Washington, Idaho, Oregon, and Montana, contributed significantly to the overall financial performance, reporting a net income of $201 million, up from $179 million in the previous year. Alaska Electric Light and Power Company (AEL&P), the company's regulated utility in Juneau, Alaska, reported a net income of $6 million, a decrease from $8 million in 2024. The company's other businesses, including venture fund investments and real estate investments, reported a net loss of $14 million, compared to a net loss of $7 million in the prior year, primarily due to increased investment losses.

Key operational developments for Avista Utilities included serving approximately 429,000 electric customers and 386,000 natural gas customers at the end of 2025. The company's peak electric native load requirement for 2025 was 1,837 MW, occurring on September 2, 2025. Avista Utilities' electric generation resource mix was approximately 48 percent hydroelectric, 37 percent thermal, and 15 percent other renewables. The company also transferred its ownership in Colstrip to NorthWestern on January 1, 2026, resulting in a generation resource mix of approximately 53 percent hydroelectric, 32 percent thermal, and 15 percent other renewables.

Strategic initiatives included a 2025 Request for Proposal (RFP) for up to 425 MW of capacity resources to meet modeled load growth needs and anticipated new large loads. The company selected a list of projects and will begin contract negotiations for a self-build upgrade of its existing Natural Gas Combustion Turbines at Rathdrum CT, a Battery Energy Storage System, a PPA for wind power from Montana, and the addition of Demand Response Programs. The company also spent $36 million in capital and $15 million in operating expenses on wildfire resiliency efforts in 2025, with expected spending of approximately $45 million in capital and $20 million in operating expenses in 2026.