20250715Decision Memo .pdf

DECISION MEMORANDUM
TO: COMMISSIONER LODGE
COMMISSIONER HAMMOND
COMMISSIONER HARDIE
COMMISSION SECRETARY
COMMISSION STAFF
LEGAL
FROM: JOSEPH TERRY, COMMISSION STAFF MEMBER
ERIKA K. MELANSON,DEPUTY ATTORNEY GENERAL
DATE: DULY 15, 2025
RE: AVISTA'S APPLICATION TO ISSUE UP TO 5,500,000 SHARES OF
COMMON STOCK; CASE NO. AVU-U-25-01.
On June 23,2025,Avista Corporation("Avista"or"Company")applied to the Idaho Public
Utilities Commission("Commission")requesting authority to offer,issue, and sell up to 5,500,000
shares of authorized but unissued common stock. The Commission received the fees as required
by Idaho Code § 61-905 on June 30, 2025. The requested authority is in addition to the authority
granted in Order No. 35862 issued on July 25, 2023, under which 584,042 shares remain
authorized and unissued. Staff confirmed that the Company has at least 6,084,042 (5,500,000
requested plus the 584,042 remaining from the previous order) authorized but unissued shares of
common stock.
The Company states it will continue to provide the "Report of Securities Transaction"
whenever the Company issues any securities that will show the proceeds and expenses of each
issuance. The Company states that the only fees will be for underwriting,private placement,legal,
accounting, or similar professional or technical services.
The Company proposes selling the stock through the Periodic Offering Program, direct
sales, or underwritten transactions. The net proceeds of these issuances will be used for the
improvement or maintenance of its service; the discharge or lawful refunding of its obligations;
the reimbursement of moneys actually expended for said purposes from income or from other
moneys in the treasury not secured by or obtained from the issue, assumption, or guarantee of
securities; or any other purposes approved by the Commission or authorized by law.
DECISION MEMORANDUM - I - JULY 15, 2025

Staff analyzed the effects on the Company's capital structure from the sale of the requested
stock and it does not have a major impact on the Company's capital structure. At the current stock
price, the requested sale of stock would affect the equity percentage by less than 2%. Approval of
the requested authority will not substantially alter the Company's capital structure.
STAFF RECOMMENDATION
Staff recommends approval of the request for authorization to issue 5,500,000 shares of
common stock.
COMMISSION DECISION
Should the Commission approve the Company's request for authorization to issue
5,500,000 shares of common stock?
VC'
eph Terry
mission Staff
1:\Uti1ity\UDMEM0S\AVU-U-25-01 Decision Memo.docx
DECISION MEMORANDUM - 2 - JULY 15, 2025