By way of introduction, I have been with Avista since 2009, working in our accounting group.
Our consolidated earnings for the third quarter of 2021 were $0.20 per diluted share compared to $0.07 for the third quarter of 2020.
For the year-to-date, consolidated earnings were $1.38 per diluted share for 2021 compared to $1.04 last year.
We continue to expect these investments to contribute $0.05 to $0.10 per diluted share going forward.
Focusing back on earnings, we are confirming our consolidated earnings guidance for 2021 and 2023 of $1.96 to $2.16 per diluted share for 2021, and $2.42 to $2.62 per diluted share for 2023.
We are lowering our consolidated guidance by $0.10 per diluted share in 2022 to a range of $1.93 to $2.13 per diluted share.
As we mentioned, Avista Utilities is up, we have $0.13 a share compared to $0.08 in the prior years.
The ERM, the energy recovery mechanism in Washington had a pre-tax expense of $3.8 million in the third quarter compared to a benefit in the prior year.
And for the year-to-date, we've recognized an expense of $7.1 million compared to a benefit of $5.9 million.
But when we look at it for the year compared quarter-over-quarter, last quarter, we expected for the full year to be a negative $0.08, and we currently expect it to be a negative $0.09.
We currently expect Avista Utilities to spend about $450 million in 2021 and $445 million in '22 and '23 to continue to support customer growth, and maintain our system to provide safe, reliable energy to our customers.
To fund that capital, we expect to issue approximately $140 million of long-term debt and $90 million in equity in 2021.
$70 million of the debt has already been issued.
We issued that and also $61 million of the common stock has been issued through September.
During 2022, we expect to issue $370 million of long-term debt, which is really covering a $250 million maturity and then also $90 million of common stock, which will help us fund our capital expenditures and maintain a prudent capital structure.
With respect to our guidance range at Avista -- we expect Avista for '21, we expect Avista Utilities to contribute in the range of $1.83 to $1.97 per diluted share.
And primarily due to the impact of the ERM, as I mentioned earlier in my comments, we expect to be down about $0.09.
Our current expectation is to be in a surcharge position in the 90% customer/10% company band, which is expected to decrease earnings by $0.09.
For 2022, we are lowering our guidance due to the lower recovery of certain costs.

Summary:
Our consolidated earnings for the third quarter of 2021 were $0.20 per diluted share compared to $0.07 for the third quarter of 2020.
We are lowering our consolidated guidance by $0.10 per diluted share in 2022 to a range of $1.93 to $2.13 per diluted share.
For 2022, we are lowering our guidance due to the lower recovery of certain costs.