Press Releases

03/25/2020

AVANGRID Companies and Avangrid Foundation Commit $2 Million to Support Coronavirus Response and Recovery

AVANGRID Companies and Avangrid Foundation Commit $2 Million to Support Coronavirus Response and Recovery

AVANGRID Companies and Avangrid Foundation Commit $2 Million to Support Coronavirus Response and Recovery

Grants will fund organizations addressing pandemic impact

 

ORANGE, Conn. — March 25, 2020 — The Avangrid Foundation and AVANGRID, Inc. (NYSE: AGR) today announced a $2 million commitment to support national and local organizations that support vulnerable communities as they deal with the coronavirus pandemic.

AVANGRID will commit $1 million in corporate funds which will be distributed across its service territories to support emergency needs in communities at the state and local level. The AVANGRID family of companies includes Avangrid Renewables and eight electric and natural gas companies in New York, Maine, Connecticut and Massachusetts.

The Avangrid Foundation, which partnered with over 300 organizations across more than 30 states last year, has designated an incremental $1 million for crisis response that will be directed to partners nationwide that are providing emergency response and community support during the pandemic. The Foundation is the primary charitable arm of AVANGRID and an independent, non-profit organization whose mission includes investing in partners who support community resiliency, disaster preparedness, and at-risk groups. The Foundation also invests in education, arts, cultural heritage and the environment.

“As a provider of critical electric and gas services, AVANGRID understands the need for rapid response and is no stranger to working on the frontline of a crisis. We’re proud to offer a steady and helping hand to those who support the most vulnerable among us, particularly during these challenging times,” said Jim Torgerson, the Foundation president and AVANGRID CEO. “We are determined to help address the pandemic’s economic, social and health ramifications. Our communities are in need, and we will stand by them.”

The AVANGRID companies have already taken steps to protect the health and safety of employees and contractors, assist customers, prevent service interruptions, and address potential COVID-19 economic impacts.

The AVANGRID companies are also addressing the financial impacts of an extended public health crisis on customers, as all Avangrid Networks companies have announced suspension of service shut offs for nonpayment, and they have begun communicating with customers about programs and resources that can help customers manage bills and reduce energy usage.  In addition, the companies have been working closely with emergency services, critical care facilities and hospitals to ensure continuity of service.

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About Avangrid: Avangrid, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $44 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 in 2021, 2022, 2023 and 2024 as one of the JUST 100 companies – a ranking of America’s best corporate citizens. 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.

 

About Iberdrola: Iberdrola is one of the world's biggest energy companies and a leader in renewables, spearheading the energy transition to a low carbon economy. The group supplies energy to almost 100 million people in dozens of countries. With a focus on renewable energy, smart networks and smart solutions for customers, Iberdrola’s main markets include Europe (Spain, the United Kingdom, Portugal, France, Germany, Italy and Greece), the United States, Brazil, Mexico and Australia. The company is also present in growth markets such as Japan, Taiwan, Ireland, Sweden and Poland, among others.

With a workforce of nearly 40,000 and assets in excess of €141.7 billion, across the world, Iberdrola helps to support 400,000 jobs across its supply chain, with annual procurement of €12.2 billion. A benchmark in the fight against climate change, Iberdrola has invested more than €130 billion over the past two decades to help build a sustainable energy model, based on sound environmental, social and governance (ESG) principles.