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Short-Term Borrowings | 12 Months Ended
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Dec. 31, 2024
Short-Term Debt [Abstract] |
Short-Term Borrowings | NOTE 15. 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 the Company issued to the agent bank that would only become due and payable in the event, and then only to the extent, that the Company defaults on its obligations under the committed line of credit. Balances outstanding and interest rates on borrowings (excluding letters of credit) under the Company’s revolving committed line of credit were as follows as of December 31 (dollars in millions):
|  | 2024 |  |  | 2023 |
Balance outstanding at end of period |  | $ | 342 |  |  | $ | 349 |
Letters of credit balance outstanding at end of period |  |  | 5 |  |  |  | 5 |
Average interest rate at end of period |  |  | 5.52 | % |  |  | 6.46 | %
As of December 31, 2024 and 2023, the borrowings outstanding under Avista Corp.'s committed lines of credit were classified as short-term borrowings on the Consolidated Balance Sheets. Letter of Credit Facility In December 2022, the Company entered into a continuing letter of credit a greement in the aggregate amount of $50 million. Either party may terminate the agreement at any time. The Company had $12 million and $20 million in letters of credit outstanding under this agreement as of December 31, 2024 and December 31, 2023, respectively. Letters of credit are not reflected on the Consolidated Balance Sheets. If a letter of credit were drawn upon by the holder, we would have an immediate obligation to reimburse the bank that issued that letter. 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 some cases other obligations. Most of the short-term borrowing agreements also include 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 December 31, 2024, the Company complied with this covenant. AEL&P AEL&P has a committed line of credit in the amount of $25 million that expires in June 2028. 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 December 31, 2024, AEL&P complied with this covenant. As of December 31, 2024, $12 million was outstanding under the committed line of credit classified as short term borrowings on the Consolidated Balance Sheet, with an average interest rate of 6.13 percent. As of December 31, 2023, there were no borrowings outstanding under the agreement.

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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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