Iberdrola USA

Iberdrola USA, Inc.
Public
Industry Energy
Predecessor Energy East
Headquarters New Gloucester, Maine and Rochester, New York, United States
Area served
New York, New England
Services hydroelectric generation, electric transmission and distribution, natural gas distribution, propane/air distribution, energy services
Owner Iberdrola
Parent Iberdrola
Subsidiaries New York State Electric & Gas
Rochester Gas and Electric
Central Maine Power
Website www.iberdrolausa.com

Iberdrola USA (formerly Energy East), a subsidiary of Spanish energy company Iberdrola, S.A., is an energy services and delivery company serving about 2.7 million customers throughout upstate New York and New England, in the United States.

History

In 2007 Iberdrola agreed to purchase Energy East. The deal closed on September 17, 2008, valuing each Energy East share at $28.50. This represented a premium of 20.2% over the average share price for the 30 days prior to the offer announcement.[1] On December 7, 2009, Iberdrola announced it was renaming the company as Iberdrola USA.[2]

In November 2010, Iberdrola USA sold its gas distribution companies in Connecticut and Massachusetts, The Southern Connecticut Gas Company, Connecticut Natural Gas Corporation and The Berkshire Gas Company, to UIL Holdings Corporation.

In 2012, Iberdrola USA sold its energy services companies, Energetix and NYSEG Solutions, to Direct Energy.[3]

In February 2015, Iberdrola USA announced that it had entered into a merger agreement with UIL Holdings Corporation under which UIL Holdings Corporation would merge into a subsidiary of Iberdrola USA, Inc.

In December 2015, "Iberdrola USA finalized its acquisition of UIL Holdings ... to create a new company, Avangrid, which will be listed on the New York Stock Exchange as AGR."[4]

Subsidiaries

See also

References

External links


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