Iberdrola USA
 | |
| 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 |
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
- Central Maine Power - supplies power to more than 560,000 people in southern and central Maine
- New York State Electric and Gas (NYSEG) - supplies power and gas to a large portion of New York state
- Rochester Gas and Electric (RG&E) - supplies power and gas to customers in the Rochester, New York area
- Maine Natural Gas - a natural gas company serving customers around Augusta and Brunswick, Maine
- New Hampshire Gas - a natural gas company serving customers around Keene, New Hampshire
See also
References
- ↑ http://www.rge.com/MediaLibrary/2/5/Content%20Management/Shared/OurCompany/PDFs%20and%20Docs/ibdclosing917.pdf
- ↑ Adams, Thomas (2009-12-07). "Energy East becomes Iberdrola USA". Rochester, New York: Rochester Business Journal. Retrieved 2009-12-07.
- ↑ Direct Energy acquires Iberdrola USA subsidiaries for £71m
- ↑