SPOKANE, Wash., Aug. 17 // -- Avista (NYSE: AVA) and the U.S. Forest Service have signed a settlement agreement on proposed license conditions for Avista's Post Falls Hydroelectric Project. If adopted by the Federal Energy Regulatory Commission (FERC), the conditions will serve to fund improved recreation facilities as well as interpretive and educational programs and visitor surveys on Lake Coeur d'Alene and adjacent waterways.
(Logo: http://www.newscom.com/cgi-bin/prnh/20040128/SFW031LOGO )
Avista has agreed to share funding for maintenance and improvements at Bell Bay campground and at the Medimont and Rainey Hill recreation areas. The company will also work with the Forest Service to develop an interpretation and education plan that will encourage resource protection, cooperation and public safety.
"The funding provided by this agreement will help the Forest Service continue to provide important recreation services on Coeur d'Alene Lake and the Coeur d'Alene River," said Ranotta McNair, forest supervisor, Idaho Panhandle National Forests.
In addition to annual funding during the term of the new license, Avista has agreed to provide a 25 percent match toward improvements at the Forest Service sites.
"We're pleased with the collaboration that brought us to this agreement," said Speed Fitzhugh, Avista relicensing specialist. "The Forest Service and other public recreation providers agreed early on in the relicensing process that Avista would share a fair portion of the improvements and maintenance funding. This is a win-win situation for all involved."
Avista's combined funding proposal for all recreation facilities on the Post Falls Project calls for a total of $982,000 in one-time improvements and $160,000 in annual operation and maintenance funding. Additionally another $60,000 in long term annual funding will be provided ten years after the initial improvements are completed.
Avista's license for Post Falls and four other Spokane River dams expires in July 2007. The company has worked collaboratively with stakeholders for several years to develop a license proposal. FERC is now in the process of evaluating license terms and conditions proposed by agencies and organizations who are stakeholders in the relicensing process.
This is the second settlement agreement on the Post Falls Project. Avista and the Bureau of Land Management announced an agreement on July 12, 2006. Read the news release here: http://www.avistacorp.com/news/default.asp?prid=1100 .
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 339,000 electric and 298,000 natural gas customers in three Western states. Avista's non-regulated subsidiaries include Advantage IQ and Avista Energy. Avista Corp.'s stock is traded under the ticker symbol "AVA." For more information about Avista, please visit http://www.avistacorp.com/ .
NOTE: Avista Corp. and the Avista Corp. logo are trademarks of Avista Corporation.
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20040128/SFW031LOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk email@example.com
SOURCE: Avista Corp.
<< [Back to News Releases]