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Long-Term Debt (Tables)
 12 Months Ended
Dec. 31, 2024
Long-Term Debt, Unclassified [Abstract]  
Schedule of Long-term Debt Instruments

Maturity
Year

 

Description

 

Interest
Rate

 

2024

 

 

2023

 

Avista Corp. Secured Long-Term Debt

 

 

 

 

 

 

 

 

2028

 

Secured Medium-Term Notes

 

6.37%

 

$

25

 

 

$

25

 

2032

 

Secured Pollution Control Bonds (1)

 

3.88%

 

 

67

 

 

 

67

 

2034

 

Secured Pollution Control Bonds (1)

 

3.88%

 

 

17

 

 

 

17

 

2035

 

First Mortgage Bonds

 

6.25%

 

 

150

 

 

 

150

 

2037

 

First Mortgage Bonds

 

5.70%

 

 

150

 

 

 

150

 

2040

 

First Mortgage Bonds

 

5.55%

 

 

35

 

 

 

35

 

2041

 

First Mortgage Bonds

 

4.45%

 

 

85

 

 

 

85

 

2044

 

First Mortgage Bonds

 

4.11%

 

 

60

 

 

 

60

 

2045

 

First Mortgage Bonds

 

4.37%

 

 

100

 

 

 

100

 

2047

 

First Mortgage Bonds

 

4.23%

 

 

80

 

 

 

80

 

2047

 

First Mortgage Bonds

 

3.91%

 

 

90

 

 

 

90

 

2048

 

First Mortgage Bonds

 

4.35%

 

 

375

 

 

 

375

 

2049

 

First Mortgage Bonds

 

3.43%

 

 

180

 

 

 

180

 

2050

 

First Mortgage Bonds

 

3.07%

 

 

165

 

 

 

165

 

2051

 

First Mortgage Bonds

 

3.54%

 

 

175

 

 

 

175

 

2051

 

First Mortgage Bonds

 

2.90%

 

 

140

 

 

 

140

 

2052

 

First Mortgage Bonds

 

4.00%

 

 

400

 

 

 

400

 

2053

 

First Mortgage Bonds

 

5.66%

 

 

250

 

 

 

250

 

 

Total Avista Corp. secured long-term debt

 

 

 

 

2,544

 

 

 

2,544

 

Alaska Electric Light and Power Company Secured Long-Term Debt

 

 

 

 

 

 

 

 

2044

 

First Mortgage Bonds

 

4.54%

 

 

75

 

 

 

75

 

 

Total secured long-term debt

 

 

 

 

2,619

 

 

 

2,619

 

Alaska Energy and Resources Company Unsecured Long-Term Debt

 

 

 

 

 

 

 

 

2029

 

Unsecured Term Loan (2)

 

5.92%

 

 

15

 

 

 

15

 

 

Total secured and unsecured long-term debt

 

 

 

 

2,634

 

 

 

2,634

 

Other Long-Term Debt Components

 

 

 

 

 

 

 

 

 

Unamortized debt discount

 

 

 

 

(1

)

 

 

(1

)

 

Unamortized long-term debt issuance costs

 

 

 

 

(19

)

 

 

(19

)

 

Total

 

 

 

 

2,614

 

 

 

2,614

 

 

Secured Pollution Control Bonds held by Avista
   Corporation (1)

 

 

 

 

—

 

 

 

(84

)

 

Current portion of long-term debt

 

 

 

 

—

 

 

 

(15

)

 

Total long-term debt

 

 

 

$

2,614

 

 

$

2,515

 

 

(1)
In April 2024, the Company remarketed the City of Forsyth, Montana Pollution Control Revenue Refunding Bonds. The bonds are not subject to ordinary optional redemption. The bonds are secured by equal principal amounts of non-transferable first mortgage bonds of the Company. Avista Corp. had purchased the Forsyth bonds upon original issuance in December 2010 and held the bonds until market conditions were favorable for remarketing the bonds to unaffiliated investors. In connection with the pricing of the Forsyth bonds, the Company cash-settled two interest rate swap derivatives (notional aggregate amount of $20 million) and received a net amount of $4 million. See note 8 for a discussion of interest rate swap derivatives.
(2)
In December 2024, AERC entered an amended agreement for its $15 million unsecured term loan. The amendment extends the maturity to December 2029, and increases the interest rate from 3.44 percent to 5.92 percent.
Schedule of Maturities of Long-term Debt

 

 

2025

 

 

2026

 

 

2027

 

 

2028

 

 

2029

 

 

Thereafter

 

 

Total

 

Debt maturities

 

$

—

 

 

$

—

 

 

$

—

 

 

$

25

 

 

$

15

 

 

$

2,646

 

 

$

2,686