Avista shares jump on Q3 earnings, company distances itself from data centers
Avista said it has paused consideration of new large data center customers unless they can cover the costs of required generation and transmission investments. The utility previously paused talks with an unnamed customer after public opposition and the adoption of a data center moratorium in Spokane-area jurisdictions.
Avista shares rose after the utility reported third-quarter earnings, but data centers were a major topic during the company’s investor call. CEO Heather Rosentrater said Avista would not proceed with a new large data center customer unless the customer could cover its own costs and provide benefits to the broader customer base.
The utility said protests and public opposition led it to pause discussions with an unnamed data center customer, followed by a moratorium in local jurisdictions including the City of Spokane and Spokane County. Avista also paused processing new large data center applications requiring significant generation or transmission investments, while emphasizing that it had not abandoned future growth opportunities.
The company is separately seeking approval from the Washington Utilities and Transportation Commission to raise rates and increase its authorized return. The commission is expected to decide the rate case by Dec. 15.