Movers & Shakers August 26, 2010

After Hours meeting tonight

This month's Coeur d'Alene Chamber of Commerce's "Business After Hours" will be 5-6:30 p.m. at Coeur d'Alene Homes-Assisted Living & Memory Care, 624 W. Harrison.

There will be food, fun, tours and door prizes.

Business After Hours is a networking event and opportunity for members to show off their offices or facilities, and a way to meet other chamber members.

For more information, call Brenda Young at 415-0110

Avista reaches rate settlement

SPOKANE -Avista and other parties in the company's electric and natural gas rate case filings have reached an agreement that would result in an overall electric increase of 7.2 percent in billed rates and a natural gas increase of 3.2 percent in billed rates.

However, it is subject to approval of the Washington Utilities and Transportation Commission. The new rates would become effective Dec. 1, 2010.

Under the terms of the settlement agreement, annual electric revenues would increase by $29.5 million and natural gas annual revenues by $4.6 million.

If the agreement is approved by the WUTC, a residential customer in Washington using an average of 1,000 kilowatt-hours of electricity per month would see a $5.62 per month increase, or 7.8 percent, for a revised monthly bill of $77.41. A residential customer using an average of 69 therms of natural gas per month would see a $2.17 per month increase, or 3.6 percent, for a revised monthly bill of $62.20.

"We believe the settlement agreement represents a fair and reasonable outcome for our customers and for our shareholders," said Dennis Vermillion, Avista Corp. senior vice president and president of Avista Utilities.

Avista's original request filed with the WUTC in March 2010 was for an electric rate increase of 13.4 percent, or $55.3 million in increased annual electric revenues.

The difference between the original request and the amount in the settlement agreement is due partly to an $11.7 million decrease in power supply costs, caused primarily by the decline in natural gas fuel prices since Avista's original filing in March.

If you have a new, relocated or expanded business, or announcement of events, promotions or awards, The Press wants to let our readers know. The service is free and items run Tuesday through Saturday. To get the word on the street on your movers and shakers, call city editor Bill Buley at 664-8176 Ext. 2016 or e-mail bbuley@cdapress.com.