Avista Corporation reported its financial results for the second quarter and first half of 2025, revealing a net income of $14 million for the three months ended June 30, a decrease from $23 million in the same period of 2024. For the first half of 2025, net income was $93 million, slightly down from $94 million year-over-year. The company's total operating revenues for the second quarter reached $411 million, up from $402 million in the prior year, driven primarily by increased utility revenues, which rose to $399 million from $386 million. However, net income was impacted by losses in non-utility segments, particularly in clean technology investments, which faced valuation declines.
In terms of operational metrics, Avista Utilities, the company's primary operating division, reported an increase in customer counts, with electric customers rising to 423,664 from 417,621 and natural gas customers increasing to 383,447 from 380,232 year-over-year. The company also noted a significant rise in retail electric revenue, attributed to higher sales volumes and increased rates due to general rate cases. However, natural gas revenues decreased due to lower sales volumes and rate adjustments.
Avista's capital expenditures for the first half of 2025 totaled $246 million, slightly down from $254 million in the same period of 2024. The company continues to invest in enhancing service reliability and replacing aging infrastructure, with planned capital expenditures of approximately $525 million for 2025. Additionally, Avista's liquidity position remains strong, with $106 million available under its committed line of credit as of June 30, 2025.
Looking ahead, Avista is focused on resource adequacy and has filed its 2025 Integrated Resource Plan (IRP), which anticipates the addition of approximately 490 MW of generating capacity by 2030. The company is also navigating regulatory changes, including the impact of the Washington Clean Energy Transformation Act, which mandates the removal of coal-fired generation costs from rates by the end of 2025. Avista expects to continue addressing these regulatory challenges while maintaining its commitment to sustainable energy solutions.
About AVISTA CORP
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