Avangrid Bolsters Commitment to Hispanic Community with First-Ever Hispanic Energy Roundtable

Rhea-AI Summary

Avangrid (NYSE: AGR) hosted Connecticut's first-ever Hispanic Energy Roundtable, bringing together 15 Hispanic leaders to discuss energy issues facing the Hispanic community. The company announced new memberships in the National Hispanic Energy Council (NHEC) and National Hispanic Caucus of State Legislators (NHCSL), committing $100,000 in financial support. CEO Pedro Azagra will join NHEC's Board of Trustees, and the company will host the roundtable annually. The initiative aims to address the disproportionate energy burden on Hispanic households, who pay 20% more in energy costs than the average U.S. household.

Positive

• Commitment of $100,000 in financial support for Hispanic energy initiatives
• Strategic expansion of influence through new memberships in NHEC and NHCSL
• Development of annual forum to address Hispanic community energy issues

Negative

• None.

Together with National Hispanic Energy Council, Avangrid brings together 15 Hispanic legislators, municipal officials, business executives, and nonprofit leaders to discuss energy issues facing Hispanic community; commits to convening annually

Avangrid to become a Business Member of the National Hispanic Caucus of State Legislators, and Avangrid CEO Pedro Azagra to become member of the Board of Trustees of the National Hispanic Energy Council

Photos from the event available HERE

ORANGE, Conn.--(BUSINESS WIRE)-- Today, Avangrid, Inc. (NYSE: AGR), a leading sustainable energy company and member of the Iberdrola Group, convened Connecticut’s first-ever energy-related Hispanic Roundtable. With more than 15 Hispanic leaders from across Connecticut participating, the roundtable was moderated by Julio Fuentes, the Chair of the National Hispanic Energy Council (NHEC) and Founder of the Florida State Hispanic Chamber of Commerce, while Avangrid CEO Pedro Azagra provided the keynote remarks. During the course of the roundtable, Azagra also announced its new membership in the NHEC as well as the National Hispanic Caucus of State Legislators (NHCSL). Avangrid will join the NHCSL as a Business Member, and Azagra will join the Board of Trustees of the NHEC. With the new memberships, the company, which will also provide $100,000 in financial support for the organizations and will host the energy-related Hispanic Roundtable annually, is bolstering its commitment to being a resource on energy-related issues for the Hispanic community across the United States.

Photo features roundtable participants representing legislators, municipal officials, business executives, and nonprofit leaders in Connecticut (Photo: Business Wire)

“As a member of the Iberdrola Group, which is headquartered in Spain and includes subsidiaries in Mexico and Brazil, Avangrid is fully committed to supporting and partnering with the Hispanic and Latino community here in the United States,” said Azagra. “Today, I am proud that strong commitment reflected in our convening of these outstanding Hispanic leaders to discuss essential energy-related issues and develop real solutions to the challenges the community faces. At Avangrid, we aim to lead as a resource for navigating the complex, essential energy framework across the U.S., and I look forward to seeing that critical objective unfold in the Hispanic community, both in partnership with the leaders I met today and with the organizations we joined, the NHCSL and the NHEC.”

The Hispanic Roundtable convened today is Connecticut’s first forum of Hispanic leaders focused on energy issues in the state and region. It was attended by state legislators, municipal officials, community leaders and advocates in the nonprofit sector, and others, as well as Hispanic leaders within the company, such as the president of UI’s front-line workers’ union (Utility Workers Union of America Local 470-1), Moses Rams, who is of Cuban descent. Pioneered by Avangrid, the Hispanic Roundtable aims to increase the participation of the Hispanic community in tackling energy issues throughout the state, across the region, and around the United States. At today’s Roundtable, Avangrid committed to holding this summit on an annual basis.

The NHCSL represents the interests of over 450 Hispanic state legislators from 37 states, commonwealths, and territories of the United States. Founded in 1989, the NHCSL aims to be a catalyst for action on issues that concern the Hispanic community. Its public policy priorities span many issue areas that are encapsulated in its Task Forces, which include Labor and Workforce Development; Housing; Healthcare; and Energy, Infrastructure, and the Environment, the latter of which Avangrid intends to contribute to and participate in. As a Full Business Member of the NHCSL, Avangrid will contribute $50,000 annually to the organization and participate in its Annual Summit, “Meet & Greets” with NHCSL leadership and state Latino caucuses, and Executive Committee meetings, among other avenues of engagement.

The NHEC seeks to amplify the Hispanic community’s voice around the need for affordable, accessible, and reliable energy. Housed by the Florida State Hispanic Chamber of Commerce, the NHEC works across Washington, DC and state capitals to reduce the energy burden for the Hispanic community and advocate for policies that promote additional energy supply and infrastructure, support domestic energy development in North America, and protect the environment, among other issues. Avangrid CEO Pedro Azagra will join the Board of Trustees for the NHEC, in which he will play a key role to financially sustain the organization and guide its policy priorities.

"NHEC is thrilled to welcome Avangrid CEO Pedro Azagra to our Board of Trustees, where his vision for affordable, accessible energy and deep connection to the Hispanic community will help advance our shared goal of lowering the disproportionate energy burden Hispanic households face,” said Julio Fuentes, Chair of the National Hispanic Energy Council (NHEC) and Founder of the Florida State Hispanic Chamber of Commerce. “Hispanics pay 20% more toward energy costs than the average U.S. household, and that's money that can't go toward growing our businesses or investing in our children's futures. As a community that contributes $3.2 trillion to America's GDP and starts businesses at triple the national rate, we need energy policies that match and fuel our entrepreneurial spirit. With Avangrid and our other Board members, we are better able to make our voices heard.”

About Avangrid: Avangrid, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $47 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241120017612/en/

Media:

Sarah Wall Fliotsos

swall@uinet.com

(757) 407-4255

Source: AVANGRID, Inc.

FAQ

What is Avangrid's (AGR) new initiative for the Hispanic community in 2024?

Avangrid launched Connecticut's first-ever Hispanic Energy Roundtable, bringing together 15 Hispanic leaders to discuss energy issues, and committed to hosting it annually while joining NHEC and NHCSL with $100,000 in financial support.

How much more do Hispanic households pay for energy compared to average U.S. households?

According to the National Hispanic Energy Council, Hispanic households pay 20% more toward energy costs than the average U.S. household.

What new roles will Avangrid (AGR) CEO Pedro Azagra take on in 2024?

Pedro Azagra will join the Board of Trustees of the National Hispanic Energy Council (NHEC) to help guide policy priorities and financially sustain the organization.