Derivatives and Risk Management (Tables)

9 Months Ended

Sep. 30, 2026

Derivative Instruments and Hedges, Assets [Abstract]

Schedule of Energy Commodity Derivative Volumes

The following table presents the underlying energy commodity derivative volumes as of September 30, 2026 expected to be settled in each respective year (in thousands of MWhs and mmBTUs):


	Purchases								Sales
	Electric Derivatives				Gas Derivatives				Electric Derivatives				Gas Derivatives
Year	Physical (1) MWh		Financial (1) MWh		Physical (1) mmBTUs		Financial (1) mmBTUs		Physical (1) MWh		Financial (1) MWh		Physical (1) mmBTUs		Financial (1) mmBTUs
Remainder 2026		6		—		12,492		12,805		123		112		531		—
2027		—		—		21,640		27,075		—		159		1,393		78
2028		—		—		9,218		14,828		—		—		1,013		—
2029		—		—		1,350		7,370		—		—		—		—

As of September 30, 2026, there are no energy commodity derivative contracts outstanding with expected settlements after 2029.

The following table presents the underlying energy commodity derivative volumes as of December 31, 2025 expected to be settled in each respective year (in thousands of MWhs and mmBTUs):


	Purchases								Sales
	Electric Derivatives				Gas Derivatives				Electric Derivatives				Gas Derivatives
Year	Physical (1) MWh		Financial (1) MWh		Physical (1) mmBTUs		Financial (1) mmBTUs		Physical (1) MWh		Financial (1) MWh		Physical (1) mmBTUs		Financial (1) mmBTUs
2026		6		—		30,523		30,535		373		328		2,325		543
2027		—		—		14,558		14,443		—		—		1,393		—
2028		—		—		4,413		5,393		—		—		1,013		—

As of December 31, 2025, there were no energy commodity derivative contracts outstanding with expected settlements after 2028.

(1)

Physical transactions represent commodity derivative transactions in which Avista Corp. will take or make delivery of either electricity or natural gas; financial transactions represent financial derivative instruments that are settled in cash with no physical delivery of the underlying commodity, such as futures, swaps, or options contracts.

Summary of Foreign Currency Exchange Derivatives

The following table summarizes the foreign currency exchange derivatives outstanding as of September 30, 2026 and December 31, 2025 (dollars in millions):


	September 30,		December 31,
	2026		2025
Number of contracts		24		26
Notional amount (in United States dollars)	$	4	$	6
Notional amount (in Canadian dollars)		5		4

Schedules of Fair Values and Locations of Energy Commodity Derivative Instruments

The following table presents the fair values and locations of energy commodity derivative instruments recorded on the Condensed Consolidated Balance Sheet as of September 30, 2026 (dollars in millions):


	Fair Value
Derivative and Balance Sheet Location	Gross Asset		Gross Liability			Collateral Netted		Net Asset (Liability) on Balance Sheet
Other current assets	$	4	$	—		$	—	$	4
Other current liabilities		3		(40	)		16		(21	)
Other non-current liabilities and deferred credits		3		(16	)		4		(9	)
Total derivative instruments recorded on the balance sheet	$	10	$	(56	)	$	20	$	(26	)

The following table presents the fair values and locations of derivative instruments recorded on the Condensed Consolidated Balance Sheet as of December 31, 2025 (dollars in millions):


	Fair Value
Derivative and Balance Sheet Location	Gross Asset		Gross Liability			Collateral Netted		Net Asset (Liability) on Balance Sheet
Other current assets	$	8	$	—		$	—	$	8
Other current liabilities		7		(33	)		8		(18	)
Other non-current liabilities and deferred credits		2		(14	)		2		(10	)
Total derivative instruments recorded on the balance sheet	$	17	$	(47	)	$	10	$	(20	)

Schedule of Collateral Outstanding Related to Energy Commodity Derivative Instruments

The following table presents collateral outstanding related to its energy commodity derivative instruments as of September 30, 2026 and December 31, 2025 (dollars in millions):


	September 30,		December 31,
	2026		2025
Cash collateral posted	$	21	$	12
Letters of credit outstanding	$	7	$	14

The following table presents the aggregate fair value of energy commodity derivative instruments with credit-risk-related contingent features in a liability position, and the amount of additional collateral (in cash or letters of credit) Avista Corp. could be required to post as of September 30, 2026 (dollars in millions):


	September 30,
	2026
Liabilities with credit-risk-related contingent features	$	25
Additional collateral to post		25