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AVA - Avista News Story

$46.78 0.1  0.3%

Last Trade - 18/05/21

Sector
Utilities
Size
Mid Cap
Market Cap £2.29bn
Enterprise Value £3.90bn
Revenue £951.3m
Position in Universe 1797th / 6846

Avista declares natural gas emission reduction goal

Thu 22nd April, 2021 9:27pm
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SPOKANE, Wash., April 22, 2021 (GLOBE NEWSWIRE) -- Avista (NYSE: AVA), a
leader in clean energy and innovation, today announced its goal to reduce
emissions for natural gas. Building on the company’s clean electricity
goals, Avista has set a new aspirational natural gas goal of being carbon
neutral by 2045, with a near-term goal of 30% reduction in greenhouse gas
emissions by 2030.

“We are proud to continue our commitment to environmental stewardship and
sustainability,” said Dennis Vermillion, president and CEO of Avista. “We
set an ambitious renewable electric energy goal in 2019—to serve our
customers with 100% clean electricity by 2045 and to have a carbon-neutral
supply of electricity by 2027. Today’s announcement demonstrates that our
vision of a clean energy future encompasses both electric and natural gas
resources. We are dedicated to reducing and ultimately eliminating greenhouse
gases from the energy we deliver to our customers.

“Natural gas is one of the cleanest burning fuels and plays a key role in
reducing carbon emissions, particularly when used directly by customers in
their homes rather than used to generate electricity to meet the same need.
Compared to wood, heating oil and other fuels, natural gas improves air
quality. At the same time, we recognize there is opportunity to improve and
bring those emissions down even further.

“Our strategy to achieve lower emissions includes investing in new
technologies, like renewable natural gas (RNG), hydrogen and other renewable
biofuels. We are evaluating how to best integrate RNG into our gas supply
portfolio and researching hydrogen as another renewable fuel. Our other
strategies include reducing consumption via conservation and energy efficiency
and improving infrastructure,” Vermillion said. “As with reductions in
emissions associated with electricity, we will need innovation and affordable
technologies to achieve these goals.”

Avista entered the natural gas business with the purchase of Spokane Natural
Gas Company in 1958. Today, Avista serves more than 367,000 natural gas
customers in eastern Washington, northern Idaho and parts of southern and
eastern Oregon.

“Avista has always been committed to balancing reliability and affordability
while maintaining responsibility for our environmental footprint, and our
actions demonstrate these values,” said Vermillion. “We have seen
reduction in relative emissions due to energy efficiency measures and other
proactive efforts. Avista is committed to decarbonizing our electric system
and reducing emissions in our gas operations, recognizing that those
objectives must be achieved responsibly on behalf of our customers and the
communities we serve.”

Avista was founded on clean, renewable hydro power on the banks of the Spokane
River in 1889 and has continued to maintain a generation portfolio that is
more than half renewable. Additional examples of Avista’s strong track
record of environmental stewardship include:
* In 2020, Avista doubled wind power generation—Rattlesnake Flat Wind and
Palouse Wind projects together have 115 wind turbines, generating enough
electricity to power nearly 75,000 homes.
* Forty years ago, Avista was one of the first utilities in the nation to
establish an energy efficiency program, and since this program started,
customer electric usage has been reduced by 15 percent.
* In the 1980s, the company built the first utility-scale biomass wood-fired
power plant, improving air quality where waste from the timber industry was
otherwise burned onsite without emissions controls.
Learn more about Avista’s gas emission reduction goal and commitment to
environmental stewardship at www.myavista.com/greener.

About Avista Corp.
Avista Corp. is an energy company involved in the production, transmission and
distribution of energy as well as other energy-related businesses. Avista
Utilities (http://myavista.com) is our operating division that provides
electric service to 400,000 customers and natural gas to 367,000 customers.
Our service territory covers 30,000 square miles in eastern Washington,
northern Idaho and parts of southern and eastern Oregon, with a population of
1.7 million. AERC is an Avista subsidiary that, through its subsidiary AEL&P,
provides retail electric service to 17,000 customers in the city and borough
of Juneau, Alaska. Our stock is traded under the ticker symbol “AVA”. For
more information about Avista, please visit www.avistacorp.com.

This news release contains forward-looking statements regarding the
company’s current expectations. Forward-looking statements are all
statements other than historical facts. Such statements speak only as of the
date of the news release and are subject to a variety of risks and
uncertainties, many of which are beyond the company’s control, which could
cause actual results to differ materially from the expectations. These risks
and uncertainties include, in addition to those discussed herein, all of the
factors discussed in the company’s Annual Report on Form 10-K for the year
ended Dec. 31, 2020.

Avista Corp. and the Avista Corp. logo are trademarks of Avista Corporation.
SOURCE: Avista Corporation

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Contact:
Media:
Casey Fielder casey.fielder@avistacorp.com  
Annie Gannon, annie.gannon@avistacorp.com
 (mailto:annie.gannon@avistacorp.com)Media line: (509) 495-4174        

Investors: 
John Wilcox, john.wilcox@avistacorp.com 
(509) 495-4171

(https://www.globenewswire.com/NewsRoom/AttachmentNg/781cf86b-3c68-4fef-b549-e9a6b98947c1)



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