Avangrid Inc - Company Profile
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Business Description
Avangrid, Inc. (AVANGRID), a subsidiary Iberdrola SA, is engaged in generation, transmission and distribution of electricity. The company is also involved in distribution and transportation of natural gas. The company operates through three segments: Networks, Renewable and Other. The company’s Networks segment, holds the regulated utility businesses, including electric transmission and distribution and natural gas distribution, transportation and sales. Networks serves as super-regional energy services and delivery company through eight regulated utilities it owns directly.
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Business Segments
Overview
Owns, generates, transmits and distributes electricity and it also owns and operates distribution, transportation and sale of natural gas. It serves 2.3 million electric utility customers and 1.0 million natural gas customers. The company serves customers through, eight energy and utility companies, New York State Electric & Gas Corporation, Rochester Gas and Electric Corporation, The United Illuminating Company, Central Maine Power Company, SCG, CNG, BGC and Marine Natural Gas Corp. The company's network consists of 8,710 miles of transmission lines, 97,832 miles of distribution lines and 819 substations. The company serves customers in the states of New York, Marine, Massachusetts and Connecticut. The New York State Electric & Gas Corporation (NYSEG), serves 916,521 electricity and 271,623 natural gas customers; Rochester Gas and Electric Corporation (RG&E) serves 390,455 electricity customers and 322,926 natural customers; Central Maine Power Company (CMP), serves electricity to 659,948 customers; Marine Natural Gas Corp (MNG) serves 5,935 natural gas customers; United Illuminating serves 343,957 customers; SCG serves 208,010 natural gas customers; CNG serves 184,678 natural gas customers and BGC serves 40,750 natural gas customers. The Networks division delivers electricity and natural gas to commercial, residential and institutional customers.
Performance
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Overview
Includes corporate and intersegment eliminations.
Performance
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Overview
Designs, develops, constructs and manages and operates renewable plants. It operates in wind, solar, biomass and thermal energy. The installed capacity as of FY2022 is 9,206 MW. Its wind energy operates nearly 70 projects in 21 states across the US. Its thermal energy operates two generation facilities in the US with capacity of 636 MW; operates five solar facilities with capacity of 324 MW. The company sells its electricity through long-term agreements. Renewables sells its majority of its power to public utilities and other large investors owned utilities.
Performance
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