AVANGRID Companies Join Electric Highway Coalition Supporting EV Adoption

Rhea-AI Summary

AVANGRID (NYSE: AGR) has joined the Electric Highway Coalition, a group of 14 U.S. utilities focused on establishing a rapid electric vehicle (EV) charging network. This coalition aims to enhance long-distance EV travel with charging stations located less than 100 miles apart. AVANGRID operates four utilities and is committed to sustainable energy solutions, aiming for carbon neutrality by 2035 and a 60% clean energy vehicle fleet by 2030. The coalition's growth reflects a broader industry trend towards facilitating electric vehicle adoption across 29 states.

Positive

• Joining the Electric Highway Coalition enhances AVANGRID's commitment to sustainable energy and EV infrastructure.
• The coalition aims to create a seamless charging network for long-distance EV travel, increasing convenience for customers.

Negative

• None.

AVANGRID, Inc. (NYSE: AGR), a leading sustainable energy company, today announced its membership in the Electric Highway Coalition, a partnership of 14 U.S. utilities established to create a seamless network of rapid electric vehicle charging stations connecting major highway systems, stretching from the Atlantic Coast through the Midwest, South and into the Gulf and Central Plains regions.

AVANGRID’s four electric utility companies – NYSEG, RG&E, Central Maine Power and United Illuminating – join 13 other coalition utilities coordinating driver access to efficient, rapid-charging stations that expand convenient options for long distance electric vehicle travel.

“Joining this coalition will further our efforts to offer our customers another way to participate in a sustainable energy future by enabling them to confidently choose electric vehicles and know they will be able to charge them both at home and on the road," said Avangrid Networks President and CEO Catherine Stempien. “A clean energy future is central to our business, and a goal we share with many communities and customers, so we view this coalition’s efforts as a win for all.”

The Electric Highway Coalition was formed in March 2021 and is committed to growing corridor EV charging solutions within its member’s service territories to ensure EV drivers have convenient charging options and seamless travel routes. Its members will work together to ensure efficient and effective fast charging deployment plans that enable long distance EV travel, avoid duplication among Coalition utilities, and complement existing corridor fast charging sites.

The charging sites will ideally be easily accessible for drivers and located less than 100 miles apart. The Electric Highway Coalition is also committed to providing a positive charging experience for drivers, including having at least two charging stations with universal vehicle compatibility and additional features where feasible, such as real-time status reporting for drivers and convenient payment collection.

AVANGRID was the first utility in the nation to announce its pledge to achieve generation-related carbon neutrality by 2035 and aims to convert 60% of its fleet to clean energy vehicles by 2030. Its utilities, NYSEG and RG&E, are already utilizing battery-powered construction and fleet equipment, including electric mini excavators, bucket trucks and cars, and is one of the first companies in the world to adopt a full size EV backhoe.

The Electric Highway Coalition recently announced it has doubled its membership. Together, the 14 members represent 29 states and the District of Columbia and serve more than 60 million customers.

About AVANGRID: AVANGRID, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $39 billion in assets and operations in 24 U.S. states, AVANGRID has two primary lines of business: Avangrid Networks and Avangrid Renewables. Avangrid Networks owns and operates eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. Avangrid Renewables owns and operates a portfolio of renewable energy generation facilities across the United States. AVANGRID employs approximately 7,000 people and has been recognized by Forbes and Just Capital as one of the 2021 JUST 100 companies – a list of America’s best corporate citizens – and was ranked number one within the utility sector for its commitment to the environment and the communities it serves. The company supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2021 for the third consecutive year by the Ethisphere Institute. For more information, visit www.avangrid.com.

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FAQ

What is AVANGRID's recent announcement about membership in the Electric Highway Coalition?

AVANGRID announced its membership in the Electric Highway Coalition, which consists of 14 U.S. utilities focused on creating a network of rapid EV charging stations.

How does AVANGRID plan to support electric vehicle infrastructure?

AVANGRID aims to support electric vehicle infrastructure by coordinating access to charging stations through its membership in the Electric Highway Coalition.

What are AVANGRID's goals for electric vehicle adoption?

AVANGRID has set goals to achieve carbon neutrality by 2035 and convert 60% of its fleet to clean energy vehicles by 2030.

How many states does the Electric Highway Coalition serve?

The Electric Highway Coalition, including AVANGRID, serves members across 29 states and the District of Columbia.

What are the benefits of the Electric Highway Coalition for EV drivers?

The coalition will provide a network of conveniently located charging stations, ensuring options for long-distance travel.