Avista Corporation is a rate-regulated electric and natural gas utility serving residential, commercial, industrial, and governmental customers across the Pacific Northwest (eastern Washington, northern Idaho, and northeastern Oregon) and Alaska. The company operates through two main divisions: Avista Utilities, which provides electric distribution, transmission, and generation services alongside natural gas distribution, and Alaska Electric Light & Power, which serves Alaska's regulated utility market. The company generates revenue from regulated sales of electricity and natural gas approved by state utility commissions, with rates set by regulators in Washington, Idaho, Oregon, Montana, and Alaska, and uses hedging strategies and alternative revenue mechanisms like decoupling to manage commodity price risks and revenue fluctuations from weather and consumption patterns.