Financial Data and Key Metrics Changes - Consolidated earnings for Q4 2021 were $0.71 per diluted share, down from $0.85 in Q4 2020. For the full year, consolidated earnings were $2.10 per diluted share in 2021, compared to $1.90 in 2020 [5][12]. - Avista Utilities contributed $1.79 per diluted share in 2021, slightly down from $1.83 in 2020, primarily due to increased operating and depreciation expenses [13][14]. Business Line Data and Key Metrics Changes - The decrease in earnings for Avista Utilities was attributed to increased operating expenses, including higher insurance, IT costs, and labor benefits [13][14]. - Other businesses showed significant improvement, contributing $0.21 per share in 2021 compared to a loss of $0.05 per share in 2020, driven by investment gains [14][15]. Market Data and Key Metrics Changes - Economic recovery led to increased loads for non-decoupled customers, which positively affected earnings, although power supply costs increased due to lower hydro conditions and higher gas prices [14][18]. - The company expects customer growth of about 1% to 1.5% annually, an improvement from the previous range of 0.5% to 1% [18]. Company Strategy and Development Direction - The company completed the installation of smart electric meters and natural gas modules in Washington State, enhancing customer access to real-time data [7][8]. - Avista aims for carbon neutrality in natural gas by 2045 and has set a goal for a 30% reduction in greenhouse gas emissions by 2030 [8]. - The company is pursuing new power purchase agreements to add renewable hydropower to its portfolio starting in 2024 [8][9]. Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about moving towards a new normal post-pandemic and highlighted the company's achievements in 2021 [6]. - The company confirmed its earnings guidance for 2022 and 2023, projecting ranges of $1.93 to $2.13 for 2022 and $2.42 to $2.62 for 2023 [11][17]. Other Important Information - The Board approved a 4.1% increase in the annual dividend to $1.76 per share, marking the 20th consecutive year of dividend increases [12]. - The company plans to issue $400 million in long-term debt in Q1 2022 and expects to issue additional equity to fund expenditures [16][19]. Q&A Session Summary Question: Confirmation on authorized ROE in 2023 - Management confirmed that the earnings guidance assumes a typical recovery of 60% to 65% of the total ask in the Washington rate case [22][25]. Question: Bridge from 2022 to 2023 guidance - Management indicated that the guidance includes factors beyond rate relief, such as customer growth and inflationary pressures [26][28]. Question: ERM mechanism and market conditions - Management noted that higher gas prices and lower hydroelectric generation are impacting the ERM, with a focus on managing costs [34][36]. Question: CapEx forecast and inflation impact - Management expressed confidence in meeting CapEx targets despite inflationary pressures, indicating potential adjustments in project execution [49][52]. Question: Long-term growth outlook - Management expects to grow earnings at a rate of 4% to 6% from 2024 onwards, contingent on achieving allowed returns [45][46].

Avista Corporation (NYSE:AVA) Q3 2021 Results Conference Call November 3, 2021 10:30 AM ET Company Participants Stacey Wenz - IR Dennis Vermillion - President and CEO Mark Thies - EVP, Treasurer and CFO Kevin Christie - SVP, External Affairs and Chief Customer Officer Ryan Krasselt - VP, Controller and Principal Accounting Officer Conference Call Participants Kody Clark - Bank of America Richie Ciciarelli - Schonfeld Operator Good day, and thank you for standing by. Welcome to the Avista Corporation Q3 2021 ...

Avista Corp (NYSE:AVA) Q2 2021 Earnings Conference Call August 4, 2021 10:30 AM ET Company Participants John Wilcox - IR Manager Dennis Vermillion - CEO, President & Director Mark Thies - EVP, CFO & Treasurer Kevin Christie - SVP, External Affairs & Chief Customer Officer Conference Call Participants Kody Clark - Bank of America Merrill Lynch Sophie Karp - KeyBanc Capital Markets Vedula Murti - Hudson Bay Capital Operator Good day. Thank you for standing by, and welcome to the Avista Corp. Q2 2021 Earnings ...

Avista Corporation (NYSE:AVA) Q1 2021 Earnings Conference Call May 5, 2021 10:30 AM ET Company Participants John Wilcox - Manager of Investor Relations Dennis Vermillion - Chief Executive Officer, President & Director Mark Thies - Executive Vice President, Chief Financial Officer & Treasurer Conference Call Participants Kody Clark - Bank of America Sophie Karp - KeyBanc Operator Good morning, my name is Kree [ph], and I will be your conference operator today. At this time, I would like to welcome everyone t ...