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11/14/2023

Avangrid Named a Leading Utility for Decarbonization by National Public Utilities Council

Avangrid Named a Leading Utility for Decarbonization by National Public Utilities Council

Avangrid ranks second overall among the country’s top 47 investor-owned utilities

ORANGE, Conn. — November 14, 2023 — Avangrid, Inc. (NYSE: AGR), a leading sustainable energy company and member of the Iberdrola Group, announced today that it has ranked among the country’s top two utilities in National Public Utilities Council’s (NPUC) 2023 Utility Decarbonization Report. This annual report analyzes the decarbonization efforts of the United States’ largest investor-owned utilities. Avangrid ranked second overall, improving from its prior 2022 ranking of fourth, with the highest possible score in fuel mix, total carbon emissions, emissions per customer, and low-carbon investments. 

“Decarbonization is the only way to combat climate change,” said Pedro Azagra, Avangrid CEO. “There is no other path forward. That is why Avangrid has joined Iberdrola in making aggressive carbon reduction commitments and taking action. Whether we are generating clean, renewable energy from the sun and wind, creating a smarter, more reliable and resilient grid, or building the first large-scale offshore wind facility in the U.S., everything we do as a company is focused on creating a more sustainable, equitable future.”

The NPUC publishes a Utility Decarbonization Report annually to inform, support, and encourage the rapid decarbonization of the electricity sector using data-informed analysis. This year, the organization expanded the report to include the country’s top 47 investor-owned utilities, compared to 30 last year, in order to provide a more accurate picture of decarbonization in the power sector. Utilities were ranked using six key metrics related to each utilities’ fuel mix, carbon emissions, decarbonization goals and low-carbon investments. 

Avangrid achieved top ranks due to its industry-leading commitment to reach carbon neutrality for Scopes 1 and 2 emissions by 2030, which is aligned with Iberdrola’s emissions goals that are certified by the Science-Based Targets Initiative (SBTi). In addition to this leading commitment, Avangrid has continued to maintain an emissions intensity that is at least six times lower than the U.S. power sector average since 2015. In fact, Avangrid’s emissions intensity in 2022 was more than eight times lower than the U.S. average with a 28% reduction in CO2 emissions intensity for 2022 (compared to 2015).
Along with its top ranking in the NPUC report, Avangrid’s decarbonization actions and commitments have also earned the company a spot in Smart Electric Power Alliance’s 2030 Club and on the USA Today’s list of America’s Climate Leaders 2023.

NPUC is a leading research organization dedicated to driving progress in the decarbonization of the clean energy transition. From championing practical solution-based roundtable discussions to being a repository of knowledge and research for utilities, NPUC is pioneering the decarbonization movement and forging new paths for utility decarbonization efforts.
 

About Avangrid

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.

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