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AVISTA Exhibit 99.1 Contact : Media : Laurine Jue ( 509 ) 495-2510 laurine.jue@avistacorp.com Investors : John Wilcox ( 509 ) 495-4171 john.wilcox@avistacorp.com Avista 24/7 Media Access ( 509 ) 495-4174 Avista Corp. Reports Financial Results for Second Quarter and Year - to - Date 2021 , Confirms 2021 Consolidated Guidance , Lowers Avista Utilities Guidance for 2021 and 2022 , and Confirms 2023 Consolidated Guidance SPOKANE , Wash . – Aug. 4 , 2021 , 4:05 a.m. PDT : Avista Corp. ( NYSE : AVA ) today reported net income of $ 14.1 million , or $ 0.20 per diluted share , for the second quarter of 2021 , compared to $ 17.5 million , or $ 0.26 per diluted share , for the second quarter of 2020. For the six months ended June 30 , 2021 , net income was $ 82.1 million , or $ 1.18 per diluted share , compared to $ 65.9 million , or $ 0.98 per diluted share for the six months ended June 30 , 2020 . " Avista Utilities ' earnings were below expectations for the second quarter due to an increase in net power supply costs , mainly from higher customer loads due to an extended heat wave . We had lower than normal hydroelectric generation due to hot and dry conditions , so we had to rely on additional thermal generation and market purchases at higher costs to serve those additional loads , " said Dennis Vermillion , president and chief executive officer of Avista Corp. " We experienced several days of triple - digit , record - breaking temperatures across the region , combined with a major increase in customer energy usage , set a new system - wide peak electric load and put significant strain on the electric grid . We appreciate our customers ' patience when we implemented protective outages to prevent extensive damage to our electric system . Over the course of the event , we were able to reduce the impact to customers through system modifications and we commit to improving in the future . " In regulatory matters , we are pleased to have reached an all - party settlement in our Idaho general rate case . We expect a decision in the Washington general rate case by the end of September . " AEL & P's earnings met expectations for the second quarter and they are on track to meet the full year guidance . " Our other businesses had a strong quarter and exceeded expectations due to gains on our investments and the sale of certain subsidiary assets associated with the Spokane Steam Plant . " We are continuing to invest in capital to maintain and update our infrastructure and provide safe , reliable and affordable energy . We increased our estimated capital expenditures for 2021 through 1