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Washington Regulators Rule on Avista's Settlement Agreement
New rates become effective today but are subject to refund

Spokane, Wash.: Today, the Washington Utilities and Transportation Commission (WUTC) conditionally accepted a revenue increase from the settlement agreement filed on Oct. 15, 2004, by the staff of the WUTC, the Northwest Industrial Gas Users and Avista Corp (NYSE: AVA). Avista filed its natural gas general rate increase request on Aug. 20, 2004, and the settlement agreement was supported by three of the five parties in the case.

The WUTC’s order provides Avista with increased natural gas rates designed to produce a revenue increase of $5.4 million, or 3.9 percent beginning Nov. 2, 2004. Originally, the company had requested an $8.6 million, or 6.2 percent, increase in natural gas revenues.

The WUTC approved the revenue increase on a “subject to refund” basis and has deferred its final decision on the settlement agreement itself until the remaining two non-signing parties have had the opportunity to further review the case. The WUTC established a procedural schedule that would result in a final order on the settlement agreement in the first quarter of 2005. If the WUTC’s final order in the case were to result in a revenue increase less than that implemented on Nov. 2, Avista would refund the difference to customers.

Under the new rates, the monthly bill for a residential natural gas customer using an average of 78 therms of natural gas would increase $2.72, or about four percent. The monthly basic charge for residential natural gas service increased from $5 to $5.50.

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 325,000 electric and 300,000 natural gas customers in four western states. Avista’s non-regulated subsidiaries include Avista Advantage and Avista Energy. 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.


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