Spokane, Wash.: SPOKANE, Wash. Sept. 4, 2007: Avista has completed its 2007 Electric Integrated Resource Plan (IRP) that will guide future energy acquisitions to serve growing customer demand. The IRP calls for a greater amount of energy conservation, hydroelectric upgrades and new renewable power sources.
Avista updates its IRP every two years. The 2007 plan outlines a preferred resource strategy that calls for 350 MW of natural gas generation, 300 MW of wind, 87 MW of conservation, 38 MW of hydroelectric plant upgrades and 34 MW of other renewables by 2017. The plan also eliminates coal-based generation as a new resource.
The IRP was developed with the help of a Technical Advisory Committee made up of customers, utility commission staff, consumer advocates, academics, utility peers, government agencies and Avista employees.
“Future resource planning requires the balancing of acquiring reliable and cost-effective resources, while complying with new environmental standards.” said Clint Kalich, manager of resource planning.
Utilities in the state of Washington are required to meet renewable energy standards as set by Initiative 937. In addition, new coal plants were effectively banned by the Washington legislature. These shifts in public policy throughout the region have led to an accelerated demand for renewable resources, like wind power, and sharply increased their cost.
The IRP anticipates 2.3 percent annual growth in electric demand over the next 10 years. Avista estimates needing new energy resources to meet growing demand beginning about 2014.
Avista has submitted the IRP to state regulators for review. The document can be viewed online at http://www.avistautilities.com/resources/plans/electric.asp
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 a company operating division that provides service to 346,000 electric and 306,000 natural gas customers in three western states. Avista’s primary non-regulated subsidiary is Advantage IQ (www.advantageIQ.com). Avista Corp.’s 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. All other trademarks mentioned in this document are the property of their respective owners.
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, 2006, and the Quarterly Report on Form 10-Q for the quarter ended June 30, 2007.
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