AVISTA Business Summary

Avista Corp (NYSE: AVA) is a regulated energy company that generates revenue primarily through the transmission and distribution of electric and natural gas services to retail, commercial, and industrial customers. The company operates through two primary segments: Avista Utilities, which serves approximately 429,000 electric and 386,000 natural gas customers across 30,000 square miles in eastern Washington, northern Idaho, and parts of Oregon and Montana; and Alaska Electric Light and Power Company (AEL&P), a subsidiary providing electric services to the city and borough of Juneau, Alaska. Avista’s revenue model is anchored in regulated rate cases and a diversified generation mix that, as of early 2026, is approximately 53% hydroelectric following its strategic exit from the Colstrip coal-fired plant. Within the competitive landscape of the Pacific Northwest and Intermountain West, Avista competes with regional peers such as IDACORP (IDA), Portland General Electric (POR), NorthWestern Energy (NWE), and Black Hills Corp (BKH), maintaining a market position as a mid-sized, dividend-focused utility with a high-yield profile and a 24-year track record of consecutive dividend increases. Originally founded in 1889 as Washington Water Power Company by F. Rockwood Moore and a group of Spokane investors, the company is currently led by President and CEO Heather Rosentrater, who assumed the role in early 2024 as the first female leader in the company's history. Rosentrater, an electrical engineer by training, joined Avista in 1999 and previously served as COO, bringing deep operational expertise in grid modernization and wildfire resiliency. The executive team includes Kevin Christie, who serves as Senior Vice President, CFO, Treasurer, and Regulatory Affairs Officer, and Wayne Manuel, the Senior Vice President of Operations and Technology. The board is chaired by Scott Morris, the company’s former CEO, and includes notable members such as Major General (Ret.) Julie Bentz and former Starbucks executive Scott Maw. As a publicly traded entity, Avista is largely held by institutional investors, including Vanguard Group and BlackRock, who value the firm’s stable regulated returns and commitment to carbon neutrality by 2045.