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Avangrid Continues to Electrify its Utility Fleet, To Significantly Grow Use of Hybrid Trucks

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Avangrid (NYSE: AGR) announced plans to add over 130 new hybrid bucket trucks to its utility fleet across Northeast utilities over the next three years. The hybrid vehicles use diesel for driving but operate bucket lifts electrically, offering key advantages including improved safety through reduced exhaust exposure, better fuel efficiency, and enhanced longevity through reduced engine wear.

The company currently uses renewable diesel in Lancaster, New York, and aims to convert 60% of its heavy-duty fleet to alternative energy sources by 2030. This procurement represents a significant expansion in Avangrid's use of alternative energy sources including electric, hybrid, and green fuels.

Avangrid (NYSE: AGR) ha annunciato piani per aggiungere oltre 130 nuovi camion sollevatori ibridi alla sua flotta di servizi pubblici nelle utility del Northeast nei prossimi tre anni. I veicoli ibridi utilizzano diesel per la guida ma operano i sollevatori elettricamente, offrendo vantaggi chiave tra cui maggiore sicurezza grazie alla riduzione dell'esposizione ai fumi di scarico, migliore efficienza del carburante e maggiore longevità attraverso la riduzione dell'usura del motore.

Attualmente, l'azienda utilizza diesel rinnovabile a Lancaster, New York, e mira a convertire il 60% della sua flotta pesante a fonti di energia alternative entro il 2030. Questo acquisto rappresenta un'espansione significativa nell'uso da parte di Avangrid di fonti energetiche alternative, tra cui elettrico, ibrido e carburanti verdi.

Avangrid (NYSE: AGR) anunció planes para añadir más de 130 nuevos camiones de cesta híbridos a su flota de servicios públicos en las utilidades del noreste durante los próximos tres años. Los vehículos híbridos utilizan diésel para conducir pero operan los elevadores de cestas de manera eléctrica, ofreciendo ventajas clave como mayor seguridad debido a la reducción de la exposición a los gases de escape, mejor eficiencia de combustible y mayor durabilidad gracias a la reducción del desgaste del motor.

La compañía actualmente utiliza diésel renovable en Lancaster, Nueva York, y tiene como objetivo convertir el 60% de su flota pesada a fuentes de energía alternativas para 2030. Esta adquisición representa una expansión significativa en el uso de fuentes de energía alternativas por parte de Avangrid, incluyendo eléctrico, híbrido y combustibles verdes.

Avangrid (NYSE: AGR)는 향후 3년 동안 북동부 유틸리티의 공공 차량에 130대 이상의 새로운 하이브리드 버킷 트럭을 추가할 계획을 발표했습니다. 이 하이브리드 차량은 주행에 디젤을 사용하지만 버킷 리프트는 전기로 작동되어 배기 노출 감소로 인한 안전성 향상, 연료 효율성 개선 및 엔진 마모 감소로 인한 내구성 향상과 같은 주요 이점을 제공합니다.

회사는 현재 뉴욕주 랜카스터에서 재생 가능 디젤을 사용하고 있으며, 2030년까지 중폭 차량의 60%를 대체 에너지로 전환하는 것을 목표로 하고 있습니다. 이번 구매는 Avangrid의 전기, 하이브리드 및 친환경 연료를 포함한 대체 에너지 사용의 중요한 확장을 나타냅니다.

Avangrid (NYSE: AGR) a annoncé des plans pour ajouter plus de 130 nouveaux camions nacelles hybrides à sa flotte de services publics dans les utilitaires du Nord-Est au cours des trois prochaines années. Les véhicules hybrides sont propulsés au diesel mais fonctionnent les élévateurs de nacelles de manière électrique, offrant des avantages clés, notamment une sécurité accrue grâce à la réduction de l'exposition aux gaz d'échappement, une meilleure efficacité énergétique et une longévité améliorée grâce à la réduction de l'usure du moteur.

La société utilise actuellement du diesel renouvelable à Lancaster, New York, et vise à convertir 60 % de sa flotte lourde vers des sources d'énergie alternatives d'ici 2030. Cet achat représente une expansion significative de l'utilisation par Avangrid de sources d'énergie alternatives, y compris des sources électriques, hybrides et des carburants verts.

Avangrid (NYSE: AGR) hat Pläne angekündigt, in den nächsten drei Jahren über 130 neue Hybrid-Krabbenfahrzeuge zu seiner Dienstleistungsflotte im Nordosten hinzuzufügen. Die Hybridfahrzeuge verwenden Diesel zum Fahren, betreiben jedoch die Korbhebebühnen elektrisch, was wesentliche Vorteile wie verbesserte Sicherheit durch reduzierten Abgasausstoß, bessere Kraftstoffeffizienz und verlängerte Lebensdauer durch reduzierte Motorabnutzung mit sich bringt.

Das Unternehmen verwendet derzeit erneuerbaren Diesel in Lancaster, New York, und hat sich zum Ziel gesetzt, bis 2030 60 % seiner schweren Flotte auf alternative Energiequellen umzustellen. Diese Beschaffung stellt eine bedeutende Erweiterung von Avangrids Nutzung alternativer Energiequellen wie Elektrizität, Hybrid und grüne Kraftstoffe dar.

Positive
  • Significant fleet expansion with 130+ new hybrid vehicles over 3 years
  • Expected reduction in operational costs through improved fuel efficiency
  • Enhanced vehicle longevity through reduced engine wear
  • Clear progress toward 60% alternative energy fleet goal by 2030
Negative
  • Substantial capital investment required for fleet upgrade
  • Continued partial reliance on diesel fuel

Insights

The procurement of 130+ hybrid bucket trucks represents a strategic but modest fleet modernization initiative. While this aligns with Avangrid's sustainability goals, the immediate financial impact is The key operational benefits include reduced fuel costs through electric bucket operation and potentially lower maintenance expenses due to reduced engine wear. The target of converting 60% of heavy-duty fleet to alternative energy by 2030 shows measured progress, though the capital expenditure for this transition appears manageable within AGR's $13.7B market cap.

The hybrid technology choice is pragmatic - maintaining diesel for driving while electrifying lift operations addresses operational reliability concerns while delivering incremental efficiency gains. However, this represents an intermediate step rather than a full transition to zero-emission vehicles, suggesting careful risk management in the fleet electrification strategy.

The hybrid bucket truck initiative offers tangible operational advantages that could translate to modest cost savings. The dual-power system's ability to operate lifts electrically while parked eliminates idle fuel consumption and reduces maintenance needs. Worker safety improvements from reduced exhaust exposure and better communication in quieter operations may marginally decrease incident-related costs. The three-year implementation timeline indicates a measured approach to fleet modernization that shouldn't strain capital resources.

Testing renewable diesel in Lancaster demonstrates a parallel exploration of alternative fuels, suggesting a diversified approach to fleet sustainability. While positive for operations, this announcement represents standard utility modernization rather than a transformative change that would significantly impact investor considerations.

Avangrid expects to add over 130 hybrid vehicles to its utility fleet over the next three years

ORANGE, Conn.--(BUSINESS WIRE)-- Avangrid, Inc. (NYSE: AGR), a leading sustainable energy company and member of the Iberdrola Group, today announced that it will be purchasing over 130 new hybrid bucket trucks over the next three years as it continues to electrify its fleet across its Northeast utilities. While Avangrid already uses hybrid vehicles, this procurement plan represents a significant expansion in the Company’s use of proven alternative energy sources including electric, hybrid, and green fuels.

One of Avangrid’s hybrid bucket trucks currently in use by subsidiary, New York State Electric and Gas (NYSEG). (Photo: Business Wire)

One of Avangrid’s hybrid bucket trucks currently in use by subsidiary, New York State Electric and Gas (NYSEG). (Photo: Business Wire)

These hybrid vehicles, which will be procured from two different manufacturers, use a diesel engine while driving but only need electricity to operate the bucket lift. This comes with many significant advantages compared to traditional vehicles, including:

  • Safety: This allows workers to shut down the trucks’ engines when working on power lines, eliminating their exposure exhaust fumes. The quieter electric motor also makes it easier for crews to communicate with one another.
  • Fuel efficiency: Workers can operate the bucket lift and even keep the cabin air conditioned or heated during exceptionally hot or cold weather using only the electric motor, allowing workers to turn off the diesel engine and save fuel.
  • Longevity: Utilizing an electric motor to power the bucket lift reduces wear and tear on the vehicle’s engine. This improves their reliability and keeps them operating more efficiently for longer.

“It is important that Avangrid lives its values as a leading sustainable company and drives innovation across the business. In this case, we are expanding our use of new technologies that will make us more energy efficient,” said Avangrid CEO, Pedro Azagra. “Hybrid vehicles will also improve the health and safety of our employees and the communities we serve, while preserving Avangrid’s ability to respond to emergencies in our service area and beyond.”

Meanwhile, Avangrid continues to explore other proven alternatives. For example, some of Avangrid’s fleet is already using renewable diesel (made of plant material) in its Lancaster, New York service area. The Company is working toward growing its use of green fuels, including in its hybrid vehicles.

The Company’s goal is to convert 60 percent of its heavy-duty fleet to alternative energy sources by 2030. This investment in hybrid vehicles is a major step toward Avangrid meeting that goal.

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.

Media Contact:

Keaton Thomas

Keaton.thomas@avangrid.com

503-956-9621

Source: AVANGRID, Inc.

FAQ

How many hybrid vehicles is AGR adding to its fleet by 2027?

Avangrid is adding over 130 new hybrid bucket trucks to its utility fleet over the next three years.

What is Avangrid's (AGR) alternative energy fleet target for 2030?

Avangrid aims to convert 60% of its heavy-duty fleet to alternative energy sources by 2030.

How do AGR's new hybrid bucket trucks reduce operational costs?

The trucks save fuel by using electric power for bucket lift operations and cabin climate control while allowing the diesel engine to be turned off.

What safety benefits do AGR's hybrid bucket trucks provide?

The hybrid trucks improve safety by eliminating exhaust fume exposure when engines are off and enabling better crew communication through quieter electric motor operation.

Where is AGR currently using renewable diesel in its fleet?

Avangrid is currently using renewable diesel in its Lancaster, New York service area.

Avangrid, Inc.

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