|This article needs additional citations for verification. (October 2012)|
|Traded as||NYSE: AVA|
|Industry||Energy, private utility|
(As Washington Water Power), 1889
|Key people||Scott Morris, Chairman and CEO[when?]|
|Products||Electricity and natural gas|
|Employees||1,550[when?] utility only|
Avista Utilities is a U.S. energy company. Avista generates and transmits electricity and distributes natural gas, while providing energy solutions for residential, commercial, and industrial customers. Approximately 1,550 employees provides electricity, natural gas, and other energy services to 359,000 electric and 320,000 natural gas customers in three western states. The service territory covers 30,000 square miles in eastern Washington, northern Idaho, and parts of southern and eastern Oregon, with a population of 1.5 million.
Avista Utilities is the regulated business unit of Avista Corp., an investor-owned corporation headquartered in Spokane, Washington. Avista Corp.'s primary, non-utility subsidiary is Ecova, an energy and sustainability management company with over 700 expense management customers, representing more than 600,000 sites.
The company was founded in 1889 as Washington Water Power Company, until 1998 when the board of directors approved a name change to Avista Utilities. At that time, the company also bought naming rights for Spokane's minor league baseball park, Avista Stadium.
On September 27, 2002, Avista was sued for issuing false and misleading statements concerning its business and financial condition, including failing to disclose that Avista was engaged in highly risky energy trading activities with Enron and Portland General Electric. On December 20, 2007, Avista agreed to a $9.5 million settlement.
On February 20, 2002, the company had voluntarily adjusted the amount originally allocated to IPR&D and will restate its third quarter 1998 consolidated financial statements accordingly.
- "Avista Corp. 2012 Shared Value Report". Avista Corp. Retrieved 10 September 2012.
- "Avista Legacy Timeline". Retrieved 10 September 2012.
- "Class Action Lawsuit Against Avista".
- "Avid Technology Announces Revaluation of Acquisition Charges; First Quarter 1999 Revenue Expected to be Approximately 6% - 10% Above Prior Year".
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