Our consolidated earnings for the first quarter of 2021 were $0.98 per diluted share compared to $0.72 for the first quarter of 2020.
A few weeks ago, we announced our aspirational goal to reduce our carbon emissions for natural gas by setting new natural gas goal of being carbon-neutral by 2045, with a near-term goal of reducing greenhouse gas emissions by 30% by 2030.
We're also moving the dial toward achieving our clean electricity goal of providing customers with carbon-neutral electricity by the end of 2027, and carbon-free electricity by 2045.
We are confirming our 2021 through 2023 earnings guidance.
But on the happy note, we had a great first quarter, the Avista Utilities contributed $0.92 per diluted share compared to $0.68 last year.
The ERM in Washington with a pre-tax benefit of $4.3 million in the first quarter compared to $5.2 million in the first quarter of 2020.
We continue to be committed to investing the necessary capital in our utility infrastructure, and we expect Avista Utilities' capital expenditures to total about $415 million in 2021.
On April 30, we had $182 million of available liquidity under our $400 million line of credit, and we expect to extend that line of credit into a multi-year deal in the second quarter.
We expect to issue approximately $120 million of long-term debt in 2021, and $75 million of equity.
As Dennis mentioned earlier, we are confirming our 2021, 2022, and 2023 earnings guidance with consolidated ranges of $1.96 to $2.16 per diluted share in '21, $2.18 to $2.38 in 2022, and $2.42 to $2.62 in 2023.
Our '21 earnings guidance reflects again unrecovered structural cost estimated to reduce our return on equity by approximately 70 basis points.
And in addition, our '21 guidance reflects a regulatory timing lag estimated to reduce our equity return by approximately 100 basis points.
This results in a return on equity for Avista Utilities of approximately 7.7% in 2021.
We are currently forecasting customer growth of about 1% annually for Avista Utilities.
For 2021, Avista Utilities is expected to contribute in the range of $1.93 to $2.07 per diluted share with the midpoint of our guidance range, not including any expense or benefit under the Energy Recovery Mechanism.
Our current expectation is to be in the 75% customer, 25% Company sharing band, which is expected to add approximately $0.06 per diluted share.
For 2021, we expect AEL&P to contribute in the range of $0.08 to $0.11 per diluted share, and our outlook for both Avista Utilities and AEL&P assumes among other variables normal precipitation and slightly below normal about 92% for Avista Utilities hydroelectric generation for the year.
For 2021, we expect our other businesses to be between a loss of $0.05 to $0.02 per diluted share.

Summary:
Our consolidated earnings for the first quarter of 2021 were $0.98 per diluted share compared to $0.72 for the first quarter of 2020.
We are confirming our 2021 through 2023 earnings guidance.