Avista Requests Electric & Gas Rate Increase | News
Avista has been working hard to upgrade and improve the infrastructure that creates electricity and delivers it to your home. The power company says in spent $240 million in 2011 on capital expenses. By the end of the year, Avista expects to have invested another $260 million.
"When we replace or update old equipment with new equipment and technology, it costs many time more than when it was installed," said Avista Chairman Scott Morris in a press release Monday morning.
Morris says the company needs to invest approximately $250 a year for the next three to five years as the company continues the process of updating and maintaining the power system.
Today, Avista filed a request with the Washington Utilities and Transportation Commission to increase both electricity and gas rates to pay for the improvements.
Avista wants to increase the average homeowner's electric bill by $4.94 a month. That would make the average electric bill $83.91 a month.
The rate increase request comes at a time when the night time temperatures are dropping and people are turning on their heaters.
"Since I'm on a limited income, every five dollars is precious," said Avista customer Jay Cousins when he learned about the request.
Customers who use Avista for both electric and natural gas would get a double punch to the wallet under the rate increase request.
Avista wants the UTC to approve a rate increase of 6.9% which for the average home is $4.23 more a month.
The average natural gas bill would be, according to Avista, $65.78 a month.
The UTC has up to 11 months to decide whether or not to grant Avista the increase.