Avista has reached a settlement agreement that, if approved by the Idaho Public Utilities Commission, will raise natural gas and electric rates in North Idaho in two phases.
The first increase would occur April 1, 2013, the second on Oct. 1, 2013.
According to Avista, the settlement proposes that starting April 1, 2013, Avista would increase base natural gas rates by 4.9 percent or $3.1 million. Electric rates would increase by an overall 3.1 percent or $7.8 million.
The settlement also proposes that starting October 1, 2013, Avista would again increase natural gas rates by an overall 2.0 percent or $1.3 million.
A credit resulting from deferred natural gas costs of $1.6 million would be returned to natural gas customers. The net annual average natural gas rate increase to customers would be just 0.3 percent. Similar to natural gas, s $3.9 million credit would be returned to Idaho electric customers, so the net annual average electric rate increase to customers would be just 1.9 percent.