You are given a text that consists of multiple sentences. Your task is to perform abstractive summarization on this text. Use your understanding of the content to express the main ideas and crucial details in a shorter, coherent, and natural sounding text. 
Text: Our consolidated earnings for the second quarter of 2021 were $0.20 per diluted share compared to $0.26 for the second quarter of 2020.
For the year-to-date, consolidated earnings were $1.18 per diluted share for 2021 compared to $0.98 last year.
Now I'll turn the discussion over to Dennis.
I hope your summer is going well and that you're staying safe.
On June 30, Washington State officially lifted most of the remaining restrictions that have been in place during the pandemic.
We're excited to see our local economies continue to recover.
We're experiencing increased loads, and customer growth is steady.
Like many other businesses, we continue to monitor the pandemic very closely and watch what's happening with variants and case count in our communities.
We're ready and able to successfully adjust our business as needed and also continue to provide care and compassion for those who are struggling.
Now let's look at some highlights from our second quarter.
We had a challenging second quarter, which included an unprecedented heat wave that brought with it several consecutive days of triple-digit record-breaking temperatures across the region.
On June 29, Spokane temperature soared to 109 degrees, setting new record -- a new record high temperature and was even higher in many of our neighborhoods.
That same day, Avista experienced a major increase in customer usage, which resulted in the highest energy usage in our company's 132-year history.
The intense temperatures, combined with record high usage, strained parts of our electrical system and caused some of the equipment that runs our electric grid to overheat.
Six of our 140 distribution substations were impacted.
To prevent the equipment from overloading and to avoid extensive and costly damage to our electric system, we implemented protective outages for customers served by the equipment that was most impacted by the heat.
Over the course of the event, we were able to reduce the impact to customers through system modifications.
We appreciate our customers' patience for those who experienced outages.
Higher customer loads, related to the extended heat wave, were the primary driver for an increase in net power supply cost to serve our customers, which negatively affected the Energy Recovery Mechanism, or ERM.
Overall, we've experienced hotter and drier-than-normal weather across the Pacific Northwest, which contributed to lower-than-normal hydroelectric generation and increased power prices.
For these reasons, we had to rely on thermal generation and purchased power at higher prices to serve those additional loads.
As a result, Avis Utilities' earnings were below expectations for the second quarter.
AEL&P's earnings met expectations in the second quarter, and they are on track to meet the full year guidance.
It was a strong quarter for our other businesses, which exceeded expectations due to gains on our investments and the sale of certain subsidiary assets associated with Spokane steam plant.
Wildfire resiliency continues to be a focus for Avista.
Our region has experienced extremely dry conditions all spring and summer.
And combined with high temperatures, wildfire risk is high.
In response to these conditions, Avista has been operating in, what we call, dry land mode since late June, and dry land mode decreases the potential for wildfires that could occur when reenergizing a power line.
Normally, under normal conditions, these lines, located in rural and/or forested areas, are generally reenergized automatically.
However, during the current dry weather conditions, Avista's line personnel physically patrol in outage area before a line is placed back into service.
This can require more time to restore service, but it decreases a potential fire danger.
This practice is in line with Avista's wildfire resiliency plan, which was released last year, building on prevention and response strategies that have been in place for many years.
Avista has committed to a comprehensive 10-year wildfire resiliency plan that includes improved defense strategies and operating practices for a more resilient system.
In regards to regulatory matters, we are pleased to have reached an all-party settlement in our Idaho general rate case.
The new rates are fair and reasonable for our customers, the company and our shareholders and will allow Avista to continue receiving a fair return in Idaho.
Our Washington general rate cases continue to work their way through the regulatory process.
Our hearings have been held, and we expect a decision by the end of September.
In Oregon, we expect to file a rate case in the fourth quarter of 2021.
We are confirming our 2021 earnings guidance with a consolidated range of $1.96 to $2.16 per diluted share.
While we are confirming our consolidated range, we are adjusting our 2021 segment ranges to lower Avista Utilities by $0.10 per diluted share and raise other by $0.10 per diluted share.
For 2022, we are lowering consolidated earnings guidance by $0.15 per diluted share to a range of $2.03 to $2.23 per diluted share.
For 2023, we are confirming our earnings guidance with a consolidated range of $2.42 and to $2.62 per diluted share.
Although we expect to experience headwinds in 2022 from regulatory lag, we are confident that we can meet our earnings guidance for 2023 and earn our allowed return.
Looking ahead, we'll continue focusing on our utility operations, while prudently investing in the necessary capital to maintain and update our infrastructure to provide safe, reliable and affordable energy to our customers and our communities.
I know everybody is sitting on the edges or seat waiting for the Blackhawk's next acquisition, which is a Spokane native.
We got Tyler Johnson, a 2-time Stanley Cup Champion, who is a Spokane native.
So we're pretty excited about that.
There's your Hawks update.
As Dennis mentioned, we're confirming our 2021 earnings guidance, lowering our utility guidance for '21 and also '22 and confirming '23 consolidated guidance.
Our guidance -- I'll spend a little time on that.
Our guidance assume, among other things, a timely and appropriate rate relief in our jurisdictions.
That's very important as we need -- Dennis mentioned, we settled our Idaho case.
We're still awaiting approval from the commissions, which we expect before those rates go into effect September 1.
For 2021, we expect Avista Utilities to contribute in the range of $1.83 to $1.97 per diluted share, and the lower end of our guidance in '21 and '22 for the Avista Utilities is primarily due to increased regulatory lag.
That's due to increase capital expenditures primarily due to growth and higher-than-expected depreciation expense.
But that is, we believe, all timing, and we begin -- as we begin to plan for our next Washington general rate case to be filed early in the first quarter of '22, we expect that to be a multiyear rate plan as required under the new law.
We will seek to include all capital investment through the end of the rate plan period in rates in an effort to earn our allowed return by 2023.
In addition, we have experienced an increase, as Dennis mentioned, in actual and forecasted net power supply cost.
Although the midpoint of our guidance range does not include any benefit or expense under the ERM in Washington, the increase in power supply cost has reduced the opportunity for us to be in the upper half of the guidance range.
And our current expectation for the ERM is a surcharge position within the 90-10 sharing -- company sharing band, which is expected to decrease earnings by $0.08 per diluted share.
And recall, last quarter, our estimate for the ERM for the year was in a benefit position, which was expected to add $0.06 per diluted share.
In addition, we are also absorbing more net power supply cost under the PCA in Idaho.
For 2021, as Dennis mentioned, we expect AEL&P to contribute $0.08 to $0.11.
And we increased the range in our other businesses by $0.10, which really offsets the utility reduction, and that's largely due to a range of $0.05 to $0.08 of diluted share because of investment gains and the gain we experienced from the sale of Spokane Steam Plant.
Our guidance generally includes only normal operating conditions and does not include unusual or nonrecurring items until the effects are known and certain.
Moving on to earnings for the second quarter.
Avista Utilities contributed $0.11 per diluted share compared to $0.26 in 2020.
Compared to the prior year, our earnings decreased due to an increase in net power supply costs, as Dennis mentioned, mainly due to higher customer loads from the heat wave, and we had lower-than-normal hydroelectric generation because of the hot and dry conditions.
Our hydroelectric generation is about 91% of -- our expectations are normal for this year.
The ERM in Washington also moved significantly.
Had a pre-tax expense of $7.6 million in the second quarter of '21 compared to a pre-tax benefit of $0.4 million in 2020.
Year-to-date, we've recognized $3.3 million of expense in '21 compared to $5.6 million in benefit in 2020.
In addition to the higher power supply cost, we also had higher operating expenses in the quarter, mainly due to the timing of maintenance projects, as many of those maintenance projects were delayed in 2020 because of COVID-19, whereas in 2021, we returned to our original schedules and performed that maintenance in the second quarter.
The higher maintenance costs were partially offset by lower bad debt expense as we are continuing to defer bad debt through our COVID-19 regulatory deferrals.
Moving on to capital.
As Dennis mentioned, we're committed to be continuing to invest the necessary capital in our utility infrastructure.
We currently expect Avista Utilities to have increased capital expenditures up to $450 million in 2021 and $415 million in 2022 -- or $445 million in '22 and '23.
That's a $35 million and $40 million increase in '21, '22 and '23, $40 million in '23 as well.
And this is really to support continued customer growth.
Our customer growth's about 1.5%, which is up from 0.5% to 1% in prior expectations.
We expect to issue approximately $140 million of long-term debt and $90 million of common stock, including $16 million that we've already issued through June on the common stock side in 2021.
The increase in long-term debt and common stock is to fund the increased capital expenditures.

user
compname posts q2 earnings per share $0.20.
q2 earnings per share $0.20.
confirming 2021 consolidated earnings per share guidance with a range of $1.96 to $2.16.
lowering our 2022 consolidated earnings guidance to a range of $2.03 to $2.23 per diluted share.
for 2023, confirming earnings per share guidance with a consolidated range of $2.42 to $2.62.

assistant