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Spokane, Wash – January 15, 2008: Avista has submitted its biennial planning document for natural gas resources to state commissions in Washington, Idaho and Oregon. The integrated resource plan (IRP) looks at natural gas supply and demand for a 20-year time period.
Highlights of the current plan include a continued emphasis on energy efficiency and storage to help keep the cost of natural gas down for Avista customers.
Avista plans to continue its pursuit of cost-effective energy efficiency by establishing a 2008 goal to reduce demand by 1,425,000 therms in Washington and Idaho, and 350,000 therms in Oregon.
The company will also utilize increased access to natural gas storage in its underground facility at the Jackson Prairie Storage Project near Chehalis, Wash. This will allow purchase and storage of natural gas during times when prices are lower, for later use during market price peaks.
“Our philosophy is to reliably provide natural gas to our customers with an appropriate balance in the pursuit of price stability and low cost,” said Scott Morris, Avista chairman, president and CEO. “We will be using our portfolio of purchase contracts, storage and firm pipeline capacity rights to bring our customers the best value possible.”
Other highlights of the IRP include an estimate of future supply needs. The company has sufficient natural gas resources in Oregon until 2011-2012, and in Washington and Idaho until 2014-2015.
Pipeline transportation capacity additions, coupled with distribution system enhancements, are called for under the IRP to help meet future load growth.
To read the entire natural gas IRP document visit this link on the Avista website:
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 348,000 electric and 305,000 natural gas customers in three Western states. Avista’s primary, non-regulated subsidiary is Advantage IQ. 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. 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 Sept. 30, 2007.
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