Statement From Avangrid on the Maine Utility Takeover Referendum

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11/07/2023 - 10:21 PM

ORANGE, Conn.--(BUSINESS WIRE)-- The following is a statement from Avangrid, Inc. (NYSE: AGR) regarding today’s vote on the Maine utility takeover referendum:

“Fifty years ago, in 1973, voters in Maine soundly rejected a proposal to seize Maine’s electric grid and replace it with a political board (61 NO – 39 YES). Maine voters have once again rejected this risky proposal.

“Next year Central Maine Power will mark 125 years since its founding, and its commitment to delivering safe and reliable service remains unchanged. From storm response during Winter Storm Elliot, to exceeding customer service metrics for three years running, to being voted one of Maine’s best places to work, CMP and Avangrid remain completely committed to its customers and employees.

“In the face of climate change, meeting the needs of an increasingly electrified society is best done by those with the most experience. That’s what thousands of our employees do across the country every day. Voters in Maine have spoken. The years-long debate over who is best suited to operate the grid does nothing to advance the solutions needed now, and it’s time to get back to work.”

About Avangrid: Avangrid, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $41 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 more than 7,500 people and has been recognized by JUST Capital in 2021, 2022 and 2023 as one of the JUST 100 companies – a ranking of America’s best corporate citizens. In 2023, Avangrid ranked first within the utility sector for its commitment to the environment. The company supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2023 for the fifth 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.