Press release
Avangrid Receives Eddy Award for Student Loan Debt Repayment Program
Program saved Avangrid employees more than $1.5 million in 2023
ORANGE, Conn. — March 19, 2024 — Avangrid, Inc. (NYSE: AGR), a leading sustainable energy company and a member of the Iberdrola Group, announced today that it earned an Eddy Award from Pension & Investments for the company’s groundbreaking Student Loan Debt Repayment Program, which saved Avangrid employees more than $1.5 million last year in principal and estimated interest.
“Student loan debt surpasses all other categories of consumer debt, besides mortgages, in the United States,” said Pedro Azagra, Avangrid CEO. “This fact is not only staggering, its sobering. We are very proud to have diverse and modern benefits that support our employees’ mental, physical, emotional, and financial wellbeing. To receive an Eddy Award for our Student Loan Debt Repayment Program confirms our belief that our benefits are setting a new standard for employee programs and care.”
Pension & Investment’s annual Eddy Awards recognizes best practices in offering investment and financial education to defined contribution plan participants. This year’s awards included five categories: special projects, financial wellness, ongoing investment education, conversions/403(b) consolidations and pre-retirement preparation. Avangrid earned second place in the Financial Wellness category, and this is Avangrid’s third Eddy award in four years.
Avangrid was one of the first energy companies in the United States to have a student loan debt repayment program. The program is available to non-union employees and offers participants a $250 monthly payment, up to a lifetime maximum of $9,000, paid directly to their eligible student loan provider(s). To date, more than 600 Avangrid employees have enrolled.
“A program like this tells me that Avangrid cares about its employees by helping them focus on total wellbeing, including financial wellness,” said Jordan Noll-Lamantia, manager of Talent Acquisition at Avangrid and a participant in Avangrid’s Student Loan Debt Repayment Program. “Taking advantage of this benefit is allowing me to pay down my student loans quicker than I originally planned. This means more freedom to do the things I love, such as traveling.”
Media Contact
For media inquiries, email: corporatecommunications@avangrid.com
About Avangrid: Avangrid, Inc. is a leading U.S. energy company investing in grid infrastructure and power generation projects to deliver reliable energy and meet growing electricity demand. With approximately $50 billion in assets and operations across 25 states, Avangrid is helping modernize the U.S. electric grid, improve system resiliency, and support economic growth for the customers and communities it serves.
Avangrid owns and operates seven electric and natural gas utilities, serving more than 3.4 million customers in New York and New England. Avangrid also has nearly 100 energy generation facilities across the United States and more than 11 gigawatts of installed capacity. Avangrid has more than 8,300 employees and was named among the World's Most Ethical Companies in 2026 for the eighth consecutive year by the Ethisphere Institute. Avangrid is a member of the Iberdrola Group.
About Iberdrola: With a market capitalization of more than €140 billion, Iberdrola is the largest electricity company in Europe and one of the two largest in the world. The Group serves more than 100 million people around the world and has a workforce of 45,400 employees and assets of €165 billion. In 2025, Iberdrola posted a record net profit of €6.3 billion. The company contributes close to €10.4 billion in taxes in the countries where it operates and supports more than 500,000 jobs throughout its supply chain, thanks to €13.2 billion in purchases from tens of thousands of suppliers.
Since 2001, Iberdrola has invested more than €175 billion in electricity networks, renewable energy and energy storage to help create an energy model based on electrification. The company has close to 1.4 million km of electricity networks in the United States (the states of New York, Connecticut, Maine and Massachusetts), the United Kingdom (Scotland, England and Wales), Brazil (the states of Bahia, Rio Grande do Norte, Pernambuco, São Paulo and Mato Grosso do Sul, as well as Brasilia) and Spain, as well as 57,000 MW of capacity worldwide, of which more than 46,000 MW is renewable.
