Avangrid Again Named a Leading Utility for Decarbonization

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09/25/2024 - 12:55 PM

Report from National Public Utilities Council ranks Avangrid second overall among the country’s 47 largest investor-owned utilities.

ORANGE, Conn.--(BUSINESS WIRE)-- Avangrid, Inc. (NYSE: AGR), a leading sustainable energy company and member of the Iberdrola Group, announced today that it is once again one of the nation’s top two public utilities for decarbonization, according to the National Public Utilities Council’s (NPUC) Annual Utility Decarbonization Report. This annual report uses the latest complete data to analyze the decarbonization efforts of the largest investor-owned utilities in the United States. For the second consecutive year Avangrid ranked second overall.

“When it comes to decarbonization, Avangrid is leading by example. We are proud to be recognized once again as a top company for decarbonization by the NPUC, further validating our commitment to combating climate change and creating a more sustainable and equitable future,” said Pedro Azagra, Avangrid CEO. “As a member of the Iberdrola Group led by Executive Chairman Ignacio Galán, we are advancing the clean energy transition by growing our portfolio of renewable energy generation, investing in our networks infrastructure and grid modernization, and ensuring the well-being of our customers, employees, and communities.”

Avangrid received the highest possible scores in five of the six categories. It ranked first overall for lowest CO² emissions from owned and purchased electricity generation and lowest CO² emissions per residential customer equivalent (RCE). Avangrid came in at just 0.3 metric tons of CO² per customer, a fraction of the 5.7 metric ton average of investor-owned utilities included in the NPUC’s report.

The NPUC publishes a Utility Decarbonization Report annually to inform, support, and encourage the rapid decarbonization of the utility sector using data-informed analysis. Utilities were ranked using six key metrics related to each utilities’ fuel mix, carbon emissions, decarbonization goals and carbon-free investments. The report’s aim is to “rank companies, not based on how close they are to net zero, but how well they are doing in their efforts to get there in comparison to the others.”

Avangrid has an ambitious carbon neutrality implementation strategy aligned with SBTi (Science Based Target initiative) milestones that were also adopted by Iberdrola, including a goal of achieving carbon neutrality for Scope 1 and 2 emissions by 2030. In addition to its top-two ranking in the NPUC report this year, Avangrid’s decarbonization actions and commitment to clean energy have contributed to Avangrid being named one of America’s Most Just Companies 2024, one of America’s Climate Leaders 2024, and the Most Sustainable Company in the Clean Energy Industry.

About Avangrid: Avangrid, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $45 billion in assets and operations in 24 U.S. states, Avangrid has two primary lines of business: networks and renewables. Through its networks business, Avangrid owns and operates eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. Through its renewables business, Avangrid owns and operates a portfolio of renewable energy generation facilities across the United States. Avangrid employs approximately 8,000 people and has been recognized by JUST Capital as one of the JUST 100 companies – a ranking of America’s best corporate citizens – in 2024 for the fourth consecutive year. In 2024, Avangrid ranked first among utilities and 12 overall. The company supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2024 for the sixth consecutive year by the Ethisphere Institute. Avangrid is a member of the group of companies controlled by Iberdrola, S.A. For more information, visit www.avangrid.com.