Washington Wildfires Force Evacuations, Cut Power to 60,000 Avista Customers
AVA is trading near its 52-week low of $35.5 (14% above the low).
Summary
Wildfires across 250,000+ acres in Washington state have prompted widespread evacuations and left 60,000 Avista customers without power in the Spokane area. Governor Bob Ferguson declared a statewide emergency and burn ban as high winds and temperatures threaten to worsen conditions. The Old Trails Fire near Spokane is active on 3,000 acres and threatens 4,000 structures, with major facilities already evacuated. This is a direct operational and financial risk for Avista, whose infrastructure is in the fire zone. The event follows a strong Q1 and a recently paused 500 MW data center deal, adding uncertainty to the utility's near-term outlook. Restoration costs and potential liability could pressure earnings, though the full extent remains unclear.
At the time of this announcement, AVA was trading at $40.45 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $3.3B. The 52-week trading range was $35.50 to $43.50. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Reuters.