Avangrid, Inc. (NYSE: AGR), a prominent sustainable energy company and part of the Iberdrola Group, has established a dedicated Government and Regulatory Affairs team to strengthen stakeholder relationships across its service areas in New York, Connecticut, and Maine. CEO Pedro Azagra recently engaged with this team to discuss the company’s priorities for the remainder of the year.
“We believe that building strong relationships is the foundation of our business,” Azagra stated. “Our Government and Regulatory Affairs team is committed to aligning our objectives with our customers’ needs through effective communication with state officials. I’m pleased to see our advocacy efforts positively impacting the communities we serve. After our recent productive meeting, we are more dedicated than ever to delivering exceptional outcomes for our customers.”
One notable achievement of Avangrid’s advocacy is the New York Utility Corporation Securitization Act, signed into law by Governor Kathy Hochul. This legislation provides a mechanism to address legacy storm-related debt previously covered by utilities, benefiting nearly 1.9 million customers of New York State Electric & Gas (NYSEG) and Rochester Gas and Electric (RG&E). Remarkably, the bill was introduced by the Avangrid team in the final weeks of the legislative session and received unanimous approval from both the Senate and Assembly before being promptly signed by Governor Hochul. The law enables NYSEG and RG&E to seek approval for addressing over $750 million in legacy storm debt, enhancing the financial stability of the utilities and allowing them to continue providing safe and reliable electric and gas service while investing in the grid for a cleaner energy future.
In Maine, Central Maine Power (CMP) recently hosted a stakeholder meeting involving government agencies, community leaders, non-governmental organizations, and business groups. This meeting aimed to gather feedback on CMP’s efforts to combat climate change and improve integrated grid planning, part of the ongoing implementation of LD 1959. Discussions focused on enhancing system resiliency against increasingly severe storms, fostering economic growth for future community needs, supporting electrification through the installation of heat pumps and EV charging stations, and increasing the number of renewable energy resources, such as solar power, connected to the grid.
