Welcome to our dedicated page for Avangrid news (Ticker: AGR), a resource for investors and traders seeking the latest updates and insights on Avangrid stock.
Avangrid Inc. (NYSE: AGR) operates at the intersection of regulated utilities and renewable energy innovation, serving millions across key U.S. markets. This dedicated news hub provides investors and industry observers with essential updates spanning earnings announcements, regulatory developments, and renewable energy project milestones.
Key resources include: Quarterly financial results, strategic partnership disclosures, grid modernization initiatives, and wind power expansion updates. Our curated collection ensures transparent access to material events shaping AGR's position in the evolving energy landscape.
Bookmark this page for streamlined tracking of operational developments across both utility segments - including electric/gas distribution in New York and New England - and renewable operations managing over 8.6 GW of clean energy capacity. Stay informed about critical filings, leadership updates, and sustainability commitments through verified primary sources.
Avangrid, Inc. (NYSE: AGR) proudly announces that two of its women leaders, Liberna Charles and Ruth Thompson, have been named 2024 Women on the Rise by Paradigm for Parity. This recognition honors exceptional women in corporate leadership who are advancing gender parity and promoting racial equity in the workforce.
Charles, vice president of talent management and DEI, has expanded DEI efforts at Avangrid, including introducing mandatory 'Inclusion at Work' training and launching the company's DEI Executive Council. Thompson, an analyst for Avangrid's DEI team, has been instrumental in growing employee participation in Avangrid's business resource groups.
Avangrid, a member of the Paradigm for Parity coalition since 2021, has undertaken several initiatives to advance gender parity and create a more diverse, equitable, and inclusive workplace. These efforts have contributed to Avangrid earning a place on Bloomberg's Gender-Equity Index in 2023 and being named a Best Place to Work for Disability Inclusion by Disability:IN.
Avangrid (NYSE: AGR) has launched a new data-driven initiative to improve grid reliability and customer satisfaction at its New York subsidiaries, NYSEG and RG&E. The innovative approach uses data analytics to prioritize proactive tree maintenance, focusing on danger trees outside the distribution right-of-way. This method has resulted in more efficient removal of high-risk trees at a lower cost, significantly benefiting customer reliability.
The system analyzes critical data points such as historical line performance, customer numbers, and high-risk tree counts to determine priority levels for tree removal. This data-driven approach has led to improved efficiency and reliability for customers, especially during storm seasons. Avangrid plans to further enhance its data analytics by incorporating additional data points and integrating computer vision AI to identify risks and improve arborist safety.
Avangrid (NYSE: AGR) is launching a new initiative to advance its Diversity, Equity, and Inclusion (DEI) efforts across the organization. The company's newly appointed Senior VP of DEI, Talent and Innovation, Ignacio Estella, will conduct 'Listen, Understand and Enable' conversations with leaders across Avangrid. This initiative follows the recent elevation of the DEI team to report directly to the CEO.
Avangrid has made significant progress in DEI, surpassing national averages with nearly 39% of women in executive positions, and increasing diversity in executive positions by 75% from 2021. The company's executive leadership team is now 38.5% women, a nearly 80% increase from three years ago. By the end of 2023, people of color represented almost 30% of Avangrid's executive positions, a 75% increase over three years.
Central Maine Power (CMP) demonstrated the effectiveness of its modern grid technology following a bizarre incident where vandals drove a stolen forklift into high voltage transmission lines, cutting power to nearly 7,000 customers. Thanks to automated reclosers and remote-operated switches, CMP restored power to over 80% of affected customers within 10 minutes.
The incident highlights CMP's ongoing investment in grid modernization, including a $30 million grant from the U.S. Department of Energy's Grid Deployment Office and a portion of $6.6 million in grants from the Maine Grid Resilience Program. These investments aim to enhance grid automation, reduce outage durations, and improve overall system reliability.
Avangrid (NYSE: AGR) subsidiaries NYSEG and RG&E have installed over 700,000 smart meters for electric and natural gas customers across Upstate New York. The upgrades are part of a larger initiative to install 1.3 million electric smart meters and 600,000 natural gas modules in 17 divisions statewide over the next two years. Currently, installations are focused on seven divisions, with over 50,000 installations per month.
Smart meters offer several benefits, including bills based on actual usage rather than estimates, improved outage response, and better customer control over energy consumption. The technology features two-way wireless communications between the meter and the company's systems, enabling automatic and secure data transmission.
Avangrid (NYSE: AGR) and Statkraft have signed a short-term Virtual Power Purchase Agreement (VPPA) for energy from Avangrid's 35 MW Casselman wind farm in Pennsylvania. This is their second VPPA in nine months, following a deal for Avangrid's 300 MW Streator Cayuga Ridge South wind farm in Illinois. The Casselman wind project, operational since 2007, consists of 23 wind turbines located near Meyersdale and Rockwood, about 60 miles southeast of Pittsburgh.
Avangrid CEO Pedro Azagra highlighted the deal as evidence of market interest in their productive merchant assets and their commitment to accelerating the clean energy transition. Patrick Pfeiffer, Managing Director of Statkraft's U.S. operations, emphasized the importance of power purchase agreements in driving the green transition forward.
Avangrid (NYSE: AGR) has surpassed 9 Gigawatts (GW) of installed capacity at its onshore wind and solar sites, marking a significant milestone in its renewable energy portfolio. The company's more than 75 projects across 22 states can now produce enough energy to power over 2.3 million U.S. homes. Avangrid's portfolio includes over 8 GW of installed wind capacity and about 1 GW of solar capacity, including projects under construction.
CEO Pedro Azagra emphasized the company's commitment to accelerating the clean energy transition, highlighting a substantial pipeline of future renewable projects and potential for repowering existing wind farms. These initiatives not only contribute to state and national climate goals but also provide community benefits through job creation, economic growth, and tax contributions.
Avangrid (NYSE: AGR) has appointed Nelly Jefferson as its new Chief Information Officer, effective September 16. Jefferson brings over 25 years of experience in IT and a deep understanding of the clean energy industry. She previously led technology for RWE Clean Energy and ConEdison. In her new role, Jefferson will oversee all Avangrid information technology strategies across the company's enterprise, managing a staff of over 140 employees and external service providers.
Jefferson's focus will be on developing IT digital and innovation capabilities to deliver smart solutions for Avangrid's customers and employees. Her appointment is expected to contribute significantly to Avangrid's mission of advancing the clean energy transition. Jefferson holds a bachelor's degree in computer science from Montclair State University and a master's degree in management information systems from New Jersey Institute of Technology.
Avangrid (NYSE: AGR) has been included in the FTSE4Good Index Series for the seventh consecutive year, recognizing its strong sustainability practices. The company ranked well above the utility industry average in environmental, social, and governance (ESG) themes.
Key highlights:
- Avangrid scored highest in labor standards and governance
- Rated 30% higher overall and 25% higher in environmental areas compared to U.S. peers
- CEO Pedro Azagra emphasized the company's commitment to climate action and clean energy transition
- Avangrid has received multiple sustainability recognitions in 2023, including placement on Barron's 100 Most Sustainable Companies list
The FTSE4Good Index, created by FTSE Russell, measures company performance in ESG practices and is widely used by market participants for responsible investment decisions.
Avangrid (NYSE: AGR) has been recognized in the 2024 Yello Top 100 Internship Programs List for its outstanding Internship and Graduate programs. The company has significantly increased its intern hiring and conversion rates to full-time employees over the past two years. Avangrid's 10-week paid Internship Experience includes interactive workshops, networking events, and final presentations, with over 100 interns currently supporting critical projects.
The company's two-year Graduate program offers rotational development for early career employees, including international assignments within the Iberdrola Group. Avangrid currently has more than 140 Graduates in its workforce. CEO Pedro Azagra emphasized the company's commitment to scaling up internship programs and expanding opportunities for early career professionals.
