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Investors - JUNE 8, 2022

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Iberdrola to invest $6b in N.Y. energy market

by Released

Iberdrola USA has plans to make investments in New York.

According to the plan, investments could reach close to $6 billion over the next three years, a two-fold increase over the average investments in New York in recent years, which will boost the state’s economic development.

With this proposal, NYSEG and RGE customers will continue to maintain one of the lowest rates in the state while moving toward a cleaner future.

In addition, later this year, Iberdrola USA (Avangrid) will negotiate tariff frameworks for its distributors in the states of Maine, Connecticut and Massachusetts.

The investments in this plan will also contribute to the growth of its network business, where it already has assets of approximately $12 billion, which it expects to increase to $20 billion by 2025, including organic and inorganic growth.

 

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