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10/31/2019

PPM Energy is coming

PPM Energy is coming

December 12, 2002

PORTLAND, Ore. - PacifiCorp Power Marketing, Inc., ScottishPower's competitive US energy business, will change its name to PPM Energy, Inc. (PPM) on January 15, 2003.

"Our business has grown beyond 'power' into gas storage and well beyond 'power marketing'. As a result, we realized that our old name-PacifiCorp Power Marketing-is too narrow a fit for our expanded capabilities," said PPM CEO Terry Hudgens. "The new logo reinforces the fact that PPM remains a member of the ScottishPower group of companies. We'll still be the same people providing the same great level of services and even more products - just with a new name."

This is a change in name only. PPM will remain the same organization with the same contracts and the same underlying support remains in place. The PPM name and logo emphasize PPM's ties to ScottishPower and its separate and independent status from the regulated utility, PacifiCorp.

"The PPM Energy name reflects the full range of our current business of renewable and thermal power, gas storage and hub services, as well as an underlying foundation of asset-backed trading and risk management. It's also how our customers and others have referred to us for years," noted Hudgens.

About a year ago PPM moved from being a subsidiary of PacifiCorp to being an affiliate to PacifiCorp. Both PPM Energy and PacifiCorp are subsidiaries of ScottishPower. PPM is ScottishPower's competitive energy business in the U.S. PacifiCorp is a regulated utility in the ScottishPower group of companies.

Media Contact:

Art Sasse, Director, Communications & Brand, Iberdrola Renewables, 503-796-7740
Paul Copleman, Media Relations, Iberdrola Renewables, 207-641-2805

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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