Mission Statement, Vision, & Core Values of Avista Corporation (AVA)

Ever wondered what drives an energy company like Avista Corporation (NYSE: AVA)? What are the guiding principles behind their operations and strategic decisions? Understanding a company's mission, vision, and core values offers valuable insights into its purpose and long-term goals.

For 2024, Avista reported consolidated earnings per diluted share of $2.29 and initiated a 2025 earnings guidance of $2.52 to $2.72 per share. How do these financial results align with Avista's stated mission and vision? Let's delve into the core of what makes Avista tick and how it aims to deliver 'better energy for life.'

Avista Corporation (AVA) An Overview of

Avista Corporation, headquartered in Spokane, Washington, has a history dating back to 1889. Originally known as Washington Water Power Company, it officially became Avista Corporation in 1999. The company operates primarily in the energy sector, providing electricity and natural gas services. As of April 2025, Avista serves over 400,000 electric customers and more than 300,000 natural gas customers across eastern Washington, northern Idaho, and parts of Oregon.

Avista's primary business involves the generation, transmission, and distribution of electricity, as well as the distribution of natural gas. Their energy portfolio includes:

• Hydroelectric generation
• Natural gas-fired generation
• Wind resources
• Biomass

These resources enable Avista to supply energy to residential, commercial, and industrial customers. The company is also involved in various energy efficiency and conservation programs aimed at reducing energy consumption and promoting sustainable practices.

In the fiscal year 2024, Avista Corporation reported operating revenues of approximately $1.5 billion. The revenue is derived from electric and natural gas services. Electric service accounted for approximately 65% of the total revenue, while natural gas service contributed around 35%. The company's strategic investments in infrastructure and renewable energy projects have supported steady revenue growth.

Avista Corporation stands as a key player in the energy sector, recognized for its commitment to providing reliable and sustainable energy solutions. To delve deeper into the financial stability and investment potential of Avista Corporation, explore: Breaking Down Avista Corporation (AVA) Financial Health: Key Insights for Investors

Avista Corporation (AVA) Mission Statement

Avista Corporation's mission statement is 'We improve life; one community, one customer, one employee at a time.' This statement reflects the company's commitment to making a positive impact across its service areas. The mission statement highlights the importance of community, customers, and employees, emphasizing a holistic approach to creating value and fostering well-being. Avista Corporation (AVA): History, Ownership, Mission, How It Works & Makes Money

Core Components of Avista's Mission Statement

Avista Corporation's mission statement is comprised of three core components:

• Community
• Customers
• Employees

Each component plays a critical role in guiding the company’s actions and strategies.

Commitment to Community

Avista is dedicated to enhancing the quality of life in the communities it serves. This commitment extends beyond providing essential energy services. For example, Avista focuses on supporting local initiatives and fostering economic development. In 2024, Avista contributed over $4 million to various community programs, supporting education, environmental stewardship, and social services. This investment underscores Avista’s understanding that a thriving community benefits everyone, including the company itself. The company actively encourages its employees to volunteer, contributing thousands of hours annually to local causes. This hands-on approach ensures that Avista is not just a service provider but also an active participant in community life.

Customer-Centric Approach

Avista places a strong emphasis on delivering exceptional service and value to its customers. This involves not only providing reliable energy but also offering innovative solutions and personalized support. Avista has invested significantly in smart grid technologies to enhance grid reliability and efficiency. In 2024, Avista reported a customer satisfaction rate of 90%, reflecting its dedication to meeting and exceeding customer expectations. The company provides a range of energy efficiency programs, helping customers reduce their energy consumption and lower their bills. These programs include rebates for energy-efficient appliances, home energy audits, and educational resources. By empowering customers to make informed choices, Avista strengthens its relationship with them and promotes sustainable energy use.

Employee Empowerment and Development

Avista recognizes that its employees are its most valuable asset. The company is committed to fostering a supportive and inclusive work environment where employees can thrive and grow. Avista offers comprehensive training and development programs, ensuring that employees have the skills and knowledge they need to excel in their roles. In 2024, Avista invested over $1.5 million in employee training and development initiatives. The company also promotes a culture of safety, with a strong focus on preventing workplace accidents and injuries. Avista’s commitment to its employees is reflected in its low turnover rate and high levels of employee engagement. By investing in its workforce, Avista ensures that it has a skilled and motivated team ready to meet the challenges of a rapidly evolving energy industry.

Avista Corporation (AVA) Vision Statement of

Avista Corporation's vision is to be a leader in providing clean, affordable, and reliable energy and to create value for our customers, communities, employees, and shareholders. This vision reflects a commitment to sustainability, innovation, and customer service. The company's strategic priorities include investing in infrastructure, embracing clean energy solutions, and enhancing the customer experience.

Avista's dedication to these principles is evident in its financial performance and community involvement. For more detailed information, you can explore the company's history, mission, and operations at: Avista Corporation (AVA): History, Ownership, Mission, How It Works & Makes Money

Avista is focused on transitioning to a clean energy future. This involves increasing the use of renewable energy sources and reducing greenhouse gas emissions. Avista is committed to meeting the clean energy goals of the states it serves. For example, Washington state law requires utilities to eliminate coal-fired electricity by 2025 and to supply 100% clean electricity by 2045. Avista is actively working to achieve these targets through investments in renewable energy projects, such as wind, solar, and hydropower.

Key initiatives include:

• Expanding renewable energy sources in its portfolio.
• Reducing its carbon footprint through energy efficiency programs.
• Investing in innovative technologies like battery storage and smart grids.

Avista Utilities has proposed a plan to meet Washington state's clean energy requirements, aiming for 100% clean electricity by 2045 while maintaining affordable and reliable service. The company is exploring various pathways, including renewable energy development, energy storage, and demand-side management.

Avista recognizes the importance of providing affordable and reliable energy to its customers. The company is committed to managing costs and investing in infrastructure to ensure reliable service. Avista continuously monitors its operations and makes necessary investments to maintain the reliability of its electric and natural gas systems.

Key strategies include:

• Investing in infrastructure upgrades to enhance reliability.
• Managing operational costs to maintain competitive rates.
• Offering energy efficiency programs to help customers save money.

Avista actively works to mitigate rate increases for its customers. For instance, the company has implemented various cost-saving measures and sought regulatory approvals to manage rates effectively. In 2024, Avista requested adjustments to its electric and natural gas rates in Washington to cover investments in infrastructure and operations, while striving to minimize the impact on customer bills.

Avista is dedicated to creating value for its customers, communities, employees, and shareholders. This involves providing excellent customer service, supporting community initiatives, fostering a positive work environment, and delivering strong financial results. Avista's commitment to its stakeholders is reflected in its corporate social responsibility efforts and its financial performance.

Key areas of focus include:

• Enhancing the customer experience through improved services and communication.
• Supporting community development through charitable giving and volunteerism.
• Promoting employee growth and well-being through training and development programs.
• Delivering consistent financial performance and returns to shareholders.

Avista's financial performance in 2024 demonstrates its commitment to creating shareholder value. While specific financial results vary, the company focuses on maintaining a strong balance sheet and investing in growth opportunities. Avista’s long-term strategy includes expanding its renewable energy portfolio and enhancing its infrastructure to support future growth.

Avista Corporation (AVA) Core Values of

Avista Corporation's core values reflect its commitment to safety, community, and ethical conduct. These values guide the company's operations and decision-making processes, influencing how it interacts with customers, employees, and the environment.

Safety

Safety is a paramount core value at Avista Corporation. The company places a high priority on ensuring the safety of its employees, customers, and the communities it serves. This commitment is embedded in every aspect of its operations, from infrastructure maintenance to employee training.

Examples of Avista's commitment to safety include:

• Comprehensive safety training programs for employees, covering hazard recognition, risk assessment, and safe work practices.
• Regular inspections and maintenance of infrastructure to prevent accidents and ensure reliable service.
• Investment in advanced technologies to enhance safety, such as smart grid systems that can detect and isolate faults.

Community

Avista Corporation demonstrates a strong commitment to the communities it serves through various initiatives and partnerships. This value emphasizes the company's role as a responsible corporate citizen, dedicated to improving the quality of life in its service areas.

Examples of Avista's dedication to community include:

• Support for local non-profit organizations through charitable contributions and employee volunteerism. In 2023, the Avista Foundation contributed $4 million to organizations focused on education, health and human services, and community vitality.
• Investment in economic development projects that create jobs and stimulate growth in the region.
• Environmental stewardship programs aimed at protecting natural resources and promoting sustainability.

Integrity

Integrity is a cornerstone of Avista Corporation's ethical framework. The company is committed to conducting business with honesty, transparency, and accountability. This value ensures that Avista maintains the trust of its stakeholders and operates in a responsible manner.

Examples of Avista's commitment to integrity include:

• A code of conduct that outlines ethical standards and expectations for all employees.
• A confidential reporting system for employees to raise concerns about potential misconduct or violations of company policy.
• Regular audits and compliance reviews to ensure adherence to regulatory requirements and ethical principles.

For more insights into Avista Corporation's financial standing, you might find this resource helpful: Breaking Down Avista Corporation (AVA) Financial Health: Key Insights for Investors