Avangrid named leading utility for decarbonization

Avangrid, the energy giant which is seeking to merge with Public Service Company of New Mexico, was named one of the highest-rated utilities in decarbonization.

The company, which is a member of the Iberdrola Group, announced Monday that it was the second highest-rated utility in the National Public Utilities Council’s 2023 Utility Decarbonization Report.

The annual report analyzes decarbonization efforts by the U.S.’s largest investor-owned utilities.

Avangrid improved from its 2022 ranking of fourth. It had the highest possible score in fuel mix, total carbon emissions, emissions per customer and low-carbon investments, according to an Avangrid news release.

“Decarbonization is the only way to combat climate change,” Pedro Azagra, Avangrid’s CEO, said in a statement. “There is no other path forward. That is why Avangrid has joined Iberdrola in making aggressive carbon reduction commitments and taking action. Whether we are generating clean, renewable energy from the sun and wind, creating a smarter, more reliable and resilient grid, or building the first large-scale offshore wind facility in the U.S., everything we do as a company is focused on creating a more sustainable, equitable future.”

The NPUC publishes its report as a way to support and encourage decarbonization. The report includes an analysis of the country’s top 47 investor-owned utilities.

In a news release, Avangrid officials said the company achieved its high rank because of its commitment to work to achieve carbon neutrality.

Avangrid is looking to expand its footprint in the Southwest and become a major utility in New Mexico.

In October 2020, PNM Resources and Avangrid announced they had reached an agreement under which Avangrid would acquire all outstanding shares of PNM Reources.

The companies’ are currently appealing a New Mexico Public Regulation Commission’s December 2021 decision to reject the merger. The matter is under consideration by the New Mexico Supreme Court.