Avangrid

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Avangrid, Inc.
Public
Traded asNYSEAGR
Russell 1000 Component
IndustryEnergy and Utilities
PredecessorEnergy East and Iberdrola USA
Headquarters,
United States
Area served
New York, New England
Serviceshydroelectric generation, electric transmission and distribution, natural gas distribution, propane/air distribution, energy services
Number of employees
7,000
SubsidiariesAvangrid 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), and United Illuminating (UI)
Websitewww.avangrid.com

Avangrid, Inc. (formerly Energy East and Iberdrola USA), is an energy services and delivery company. AVANGRID serves about 3.1 million customers throughout upstate New York and New England in the United States.[1]

History[edit]

In 2008 Iberdrola S.A. purchased Energy East.[2] Iberdrola renamed the company Iberdrola USA.[3]

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.[4]

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, "Iberdrola USA finalized its acquisition of UIL Holdings ... to create a new company, AVANGRID, which will be listed on the New York Stock Exchange as AGR."[5]

Avangrid won an auction for an offshore wind area near North Carolina by bidding $9 million in March 2017.[6]

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.[7] The company also installed electric vehicle charging stations at several of its facilities.[8] In 2018, Avangrid held an "electric vehicle fair" for its employees, with the goal being to make it so that all employees can purchase electric vehicles if they chose to.[9]

Subsidiaries[edit]

See also[edit]

References[edit]

  1. ^ "AVANGRID | About Us". www.avangrid.com. Archived from the original on 2016-08-25. Retrieved 2016-08-18.
  2. ^ Securities and Exchange Comission https://www.sec.gov/Archives/edgar/data/1046861/000104686108000095/e10q2q08.htm#legalproc
  3. ^ Adams, Thomas (2009-12-07). "Energy East becomes Iberdrola USA". Rochester Business Journal. Rochester, New York. Archived from the original on 2011-07-17. Retrieved 2009-12-07.
  4. ^ Direct Energy acquires Iberdrola USA subsidiaries for £71m
  5. ^ Tweed, Katherine (2015-12-18). "Iberdrola USA and UIL Merge to Form Utility Giant Avangrid". Green Tech Media.
  6. ^ "North Carolina Activities". Bureau of Ocean Energy Management. Retrieved 18 March 2017.
  7. ^ "Orange-based utility gives $2 million grant to support state electric vehicle rebate program". StamfordAdvocate. 2017-11-22. Retrieved 2018-11-24.
  8. ^ "Advocates Urge Connecticut Utility Regulators to Plan for EVs". www.govtech.com. Retrieved 2018-11-24.
  9. ^ "Avangrid holds first electric vehicle fair". Retrieved 2018-11-24.

External links[edit]