Avista Corporation (NYSE:AVA) Q3 2023 Earnings Call Transcript

Kevin Christie: Yes, I think it’d be fair to say that the base year is, it wheels off of when we’re earning our authorized return, which we would expect to occur. We have a chance to earn our authorized return in 2025. So, I would think of it as going from 2025 forward.

Willard Grainger: Okay, got it. That’s helpful. And maybe just one, and sorry to beat a dead horse here, but you’ve raised your CapEx guidance and when can we expect some of the financing guidance around that to come out? If you could unpack that a little bit for us here. Thank you.

Kevin Christie: Well, there’s a lot of moving parts, and we’ve shared our incremental needs for 2024, which would help fund the $500 million that we have described to you here on this call. After that, it will be situational based on, of course, our cash flows. We’ve had some tax credits that are rolling off, which provides incremental cash. And we have the ERM to continue to manage. We’ve got the ERM balance that we filed in a rate case — or I’m sorry, in a rate proceeding not too long ago, middle of the year. We have that coming back to us over two years, and it will really matter what we see on an ERM go-forward basis, too. And we’ll have to update you once we see all of those pieces come together on a go-forward basis from 2016 forward.

Willard Grainger: Got it. I’ll leave it there. Thank you very much.

Kevin Christie: Thank you.

Operator: Thank you. I’m showing no further questions at this time. So I would like to now turn it back to Stacey Wenz.

Stacey Wenz: Thank you all for joining us today and for your interest in Avista. We look forward to seeing many of you here in a couple of weeks at EEI. Have a great day.

Operator: Thank you, everyone for your participation in today’s conference. This does conclude the program. You may now disconnect.