Company Overview

Avista Corporation is a regulated electric and natural gas utility company operating primarily in the energy and utilities industry. Through its principal utility operations, the company generates, transmits, and distributes electricity and distributes natural gas to residential, commercial, and industrial customers. The vast majority of Avista’s revenue is derived from regulated utility operations, with customer rates and returns largely governed by state regulatory commissions.

The company serves customers in the Pacific Northwest and Alaska, with a business model focused on stable, long-term cash flows from regulated assets. Avista’s strategic positioning emphasizes reliable service, infrastructure investment, and a transition toward cleaner energy resources. The company traces its roots to 1889, when it was founded as Washington Water Power Company, later rebranding as Avista Corporation in 1999 to reflect a broader energy focus.

Business Operations

Avista operates primarily through its regulated utility segment, Avista Utilities, which provides electric and natural gas service. Electricity generation is supported by a diversified portfolio that includes hydroelectric, natural gas, coal, wind, and solar resources, supplemented by long-term power purchase agreements. Natural gas operations focus on distribution rather than upstream production, reducing direct commodity exposure.

In addition to its core utility operations, Avista owns Alaska Electric Light and Power Company (AEL&P), an electric utility serving customers in Juneau, Alaska. The company conducts nearly all of its business within the United States, and its revenue model is heavily dependent on state-approved rate structures, capital investment recovery, and regulated returns rather than competitive wholesale markets.

Strategic Position & Investments

Avista’s strategic direction centers on infrastructure modernization, grid reliability, and decarbonization. The company has made sustained investments in transmission and distribution upgrades, advanced metering, and cybersecurity, while also expanding its portfolio of renewable and low-carbon energy resources to meet state policy goals and customer demand.

A key long-term investment was the acquisition of Alaska Electric Light and Power Company, which expanded Avista’s regulated utility footprint and added hydroelectric-dominant generation assets. Ongoing investments are focused on renewable energy integration, energy efficiency programs, and gradual coal plant retirements, positioning Avista to comply with evolving environmental regulations while maintaining system reliability.

Geographic Footprint

Avista is headquartered in Spokane, Washington, and its primary service territory includes eastern Washington, northern Idaho, and portions of southern and eastern Oregon. These regions account for the majority of the company’s electric and natural gas customers and regulated asset base.

Outside the contiguous Pacific Northwest, Avista operates in Alaska through its ownership of AEL&P, serving the Juneau area. While Avista does not have international operations, its regional footprint gives it a significant presence in energy infrastructure and utility regulation across the northwestern United States.

Leadership & Governance

Avista is led by an executive team with deep experience in regulated utilities, risk management, and long-term capital planning. The company’s leadership emphasizes regulatory relationships, operational discipline, and a balanced approach to clean energy transition while maintaining affordability and reliability for customers.

• Scott L. Morris – Chairman, President & Chief Executive Officer
• Bryan J. Depenbrock – Senior Vice President & Chief Financial Officer
• Heather L. Rosentrater – Senior Vice President & Chief Operating Officer
• Jason J. Thackston – Senior Vice President, General Counsel & Chief Compliance Officer