SPOKANE, WA - Avista Corporation on Wednesday reported net income attributable to Avista Corp. shareholders of $25.3 million, or $0.38 per diluted share for the second quarter of 2019, compared to $25.6 million, or $0.39 per diluted share for the second quarter of 2018. For the first six months of 2019, net income attributable to Avista Corp. shareholders was $141.1 million, or $2.14 per diluted share, compared to $80.5 million, or $1.22 per diluted share for the final six months of 2018.
Chairman and Chief Executive Officer of Avista Corp. Scott Morris, cited lower operating costs and better than expected customer growth for the strong second quarter. The increases were partially off-set by a $7 million donation commitment the company made to fund initiatives and strengthen the local communities.
In July Avista was able to reach a settlement for the remaining issues to the natural gas rate case in Oregon that is expected to be filed in August. In June, an electric general rate case was filed in Idaho and the regulatory process in Washington continues to be worked through. These cases are expected to provide rate relief in early 2020 and begin reducing regulatory lag.