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Avista Corp. Reports Final First Quarter 2007 Results

Spokane, Wash.: Avista Corp. (NYSE: AVA) today reported its final results for the first quarter of 2007, which were consistent with preliminary results reported on April 18, 2007. Avista Corp. had net income of $14.1 million, or $0.26 per diluted share, for the first quarter of 2007, as compared to $31.6 million, or $0.64 per diluted share, for the first quarter of 2006.

Results for the first quarter of 2007 as compared to the first quarter of 2006:

($ in thousands, except per-share data)
Q1 2007
Q1 2006
Operating Revenues
$459,187
$499,202
Income from Operations
$38,937
$70,938
Net Income
$14,094
$31,572
Net Income (Loss) by Business Segment:
Avista Utilities
$19,927
$26,172
Energy Marketing & Resource Management
$(7,623)
$5,046
Advantage IQ
$1,584
$1,427
Other
$206
$(1,073)
Contribution to earnings per diluted share by Business Segment:
Avista Utilities
$0.37
$0.53
Energy Marketing & Resource Management
$(0.14)
$0.10
Advantage IQ
$0.03
$0.03
Other
$  -
$(0.02)
Total earnings per diluted share
$0.26
$0.64



As announced on April 17, 2007, we have entered into an agreement to sell substantially all of Avista Energy’s contracts and ongoing operations to Coral Energy Holding, L.P., a subsidiary of Shell, and certain of Coral Energy’s subsidiaries. Completion of this transaction will effectively end the majority of the operations of the Energy Marketing and Resource Management business segment. We have made all of the necessary regulatory filings related to this transaction.

The attached condensed consolidated statements of income, condensed consolidated balance sheets, and financial and operating highlights are integral parts of this news release.

Avista Corp. is an energy company involved in the production, transmission and distribution of energy as well as other energy-related businesses. Avista Utilities is our operating division that provides service to 346,000 electric and 306,000 natural gas customers in three Western states. Our non-regulated subsidiaries include Advantage IQ and Avista Energy. Our stock is traded under the ticker symbol “AVA.” For more information about Avista, please visit www.avistacorp.com.

Avista Corp. and the Avista Corp. logo are trademarks of Avista Corporation.

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