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Short-Term Borrowings | 9 Months Ended
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Sep. 30, 2024
Short-Term Debt [Abstract] |
Short-Term Borrowings | NOTE 8. S HORT-TERM BORROWINGS Avista Corp. Lines of Credit Avista Corp. has a committed line of credit in the total amount of $500 million, with an expiration date of June 2028. The Company has the option to extend for two additional one year periods (subject to customary conditions). The committed line of credit is secured by non-transferable first mortgage bonds of Avista Corp. issued to the agent bank that are payable only to the extent that Avista Corp. defaults on its obligations under the committed line of credit. Balances outstanding and interest rates on borrowings (excluding letters of credit) under Avista Corp.’s revolving committed line of credit were as follows as of September 30, 2024 and December 31, 2023 (dollars in thousands):
|  | September 30, |  |  | December 31, |
|  | 2024 |  |  | 2023 |
Borrowings outstanding at end of period |  | $ | 283,000 |  |  | $ | 349,000 |
Letters of credit outstanding at end of period |  |  | 4,700 |  |  |  | 4,700 |
Average interest rate on borrowings at end of period |  |  | 6.13 | % |  |  | 6.46 | %
Letter of Credit Facility Avista Corp. has a letter of credit a greement in the aggregate amount of $50 million. Either party may terminate the agreement at any time. Avista Corp. had $7.0 million and $20.0 million in letters of credit outstanding under this agreement as of September 30, 2024 and December 31, 2023, respectively. Letters of credit are not reflected on the Condensed Consolidated Balance Sheets. If a letter of credit were drawn upon by the holder, Avista Corp. would have an immediate obligation to reimburse the bank that issued the letter of credit. Covenants and Default Provisions The short-term borrowing agreements contain customary covenants and default provisions, including a change in control (as defined in the agreements). The events of default under each of the credit facilities also include a cross default from other indebtedness (as defined) and, in the case of the letter of credit agreement, other obligations. The committed line of credit agreement also includes a covenant which does not permit the ratio of “consolidated total debt” to “consolidated total capitalization” of Avista Corp. to be greater than 65 percent at any time. As of September 30, 2024, the Company complied with this covenant. AEL&P AEL&P has a committed line of credit in the amount of $25.0 million that expires in June 2028. There was $4.3 million outstanding under this agreement as of September 30, 2024 with an average interest rate of 7.3 percent, and no balance outstanding as of December 31, 2023. The committed line of credit is secured by non-transferable first mortgage bonds of AEL&P issued to the agent bank that would only become due and payable in the event, and then only to the extent, that AEL&P defaults on its obligations under the committed line of credit. The committed line of credit agreement contains customary covenants and default provisions. The credit agreement has a covenant which does not permit the ratio of "consolidated total debt at AEL&P" to "consolidated total capitalization at AEL&P," including the impact of the Snettisham bonds to be greater than 67.5 percent at any time. As of September 30, 2024, AEL&P complied with this covenant.

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- Definition The entire disclosure for short-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 470 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/470/tableOfContent + Details
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