Avangrid, Inc. (formerly Energy East and Iberdrola USA), is an energy services and delivery company. Avangrid serves about 3.1 million customers throughout New England, Pennsylvania and New York in the United States.[3]
 Logo used since 2023. It is based on the Iberdrola logo. | |
| Company type | Public |
|---|---|
| NYSE: AGR Russell 1000 Component | |
| Industry | Energy and Utilities |
| Predecessor | Energy East and Iberdrola USA |
| Headquarters | , United States |
Area served | New York, New England, Pennsylvania |
Key people | Pedro Azagra, CEO[1] |
| Services | hydroelectric generation, electric transmission and distribution, natural gas distribution, propane/air distribution, energy services |
Number of employees | 7,000 |
| Parent | Iberdrola owns 81.5%[2] of Avangrid |
| Subsidiaries | Avangrid Renewables, Berkshire Gas, Central Maine Power, Connecticut Natural Gas (CNG), Maine Natural Gas, New York State Electric & Gas (NYSEG), Rochester Gas and Electric Corporation (RG&E), Southern Connecticut Gas (SCG), NM Green Holdings INC and United Illuminating (UI) |
| Website | www |
History
In 2008 Iberdrola S.A. purchased Energy East.[4] Iberdrola renamed the company Iberdrola USA.[5]
In November 2010, Iberdrola USA sold its gas distribution companies in Connecticut and Massachusetts, the Southern Connecticut Gas Company, Connecticut Natural Gas Corporation, and the Berkshire Gas Company, to UIL Holdings Corporation.
In 2012, Iberdrola USA sold its energy services companies, Energetix and NYSEG Solutions, to Direct Energy.[6]
In February 2015, Iberdrola USA announced that it had entered into a merger agreement with UIL Holdings Corporation under which UIL Holdings Corporation would merge into a subsidiary of Iberdrola USA, Inc. In December 2015, the acquisition was finalized and the company announced a new name, AVANGRID.[7][8]
Avangrid won an auction for an offshore wind area near North Carolina by bidding $9 million in March 2017.[9]
Avangrid supports the adoption of electric vehicles. In 2017, Avangrid donated $2 million to the Connecticut Hydrogen and Electric Automobile Purchase Rebate program. The program was launched in 2015 and gives money in the form of rebates to consumers who purchase zero-emissions vehicles, which includes electric vehicles.[10] The company also installed electric vehicle charging stations at several of its facilities.[11] In 2018, Avangrid held an "electric vehicle fair" for its employees, with the goal of enabling these employees, if they so chose, to purchase electric vehicles.[12]
In 2021, Avangrid's subsidiary, Central Maine Power Company, was fined $360,000 for violating standards for industry testing. These standards are intended to maintain electrical stability and prevent electrical outages.[13]
In July 2024, Avangrid sold the company's Kitty Hawk North offshore wind lease to Virginia Electric and Power Company, a subsidiary of Dominion Energy, for $160 million.[14][15]
Subsidiaries
- Avangrid Renewables
- Berkshire Gas Company (BGC)
- Central Maine Power (CMP)
- Connecticut Natural Gas (CNG)
- New York State Electric & Gas (NYSEG)[16]
- Rochester Gas and Electric (RG&E)[16]
- Maine Natural Gas (MNG)
- Southern Connecticut Gas (SCG)[17]
- The United Illuminating Company (UI)[17]
References
External links
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