AVANGRID Statement In Response to PRC Decision

Rhea-AI Summary

AVANGRID, Inc. (NYSE: AGR) expressed disappointment over the Public Regulation Commission’s recent decision to reject a key agreement. The company is currently assessing its next steps while emphasizing its ongoing commitment to generating economic, social, and environmental value across 24 states. AVANGRID remains optimistic about its future and acknowledges the contributions of its dedicated team, particularly highlighting the groundbreaking of Vineyard Wind, the nation's first significant offshore wind energy project.

Positive

• Commitment to economic, social, and environmental value creation across 24 states.
• Recent groundbreaking of Vineyard Wind, America's first major offshore wind energy installation.

Negative

• Public Regulation Commission rejected a significant agreement, causing potential uncertainty for future operations.

ORANGE, Conn.--(BUSINESS WIRE)-- AVANGRID, Inc. [NYSE: AGR] has issued the following statement in response to the Public Regulation Commission’s decision:

“We are disappointed with the Public Regulation Commission’s decision to reject the agreement reached by the parties. We are evaluating the next steps before us. While we re-evaluate the path ahead, we remain dedicated to the work we do every day across 24 states to create economic, social and environmental value in all the communities we serve. While we hope to one day welcome New Mexico into the AVANGRID family, our future remains bright – we are grateful for the daily efforts of our dedicated team and inspired by recent groundbreaking of Vineyard Wind, America’s first major offshore wind energy installation.”

View source version on businesswire.com: https://www.businesswire.com/news/home/20211208006133/en/

Adam Gaber

adam.gaber@avangrid.com

917-224-6176

Source: AVANGRID, Inc.

FAQ

What was AVANGRID's response to the Public Regulation Commission's decision?

AVANGRID expressed disappointment over the rejection of a key agreement and is evaluating its next steps.

How many states does AVANGRID operate in?

AVANGRID operates in 24 states.

What is Vineyard Wind?

Vineyard Wind is America's first major offshore wind energy installation, recently groundbreaking by AVANGRID.

What is the stock symbol for AVANGRID?

The stock symbol for AVANGRID is AGR.