Avangrid
Maine regulators suspended hearings on Central Maine Power’s New England Clean Energy Connect HVDC transmission line.
Avangrid on Monday said its first quarter (Q1 2018) earnings rose slightly on new rate plans and rising output from its wind fleet, and the company highlighted its growing opportunities in renewable energy — particularly offshore wind.
Avangrid lost $77 million in the fourth quarter after taking a one-time charge related to the sale of its gas units, but the company is sharpening its focus on its core businesses.
Massachusetts has selected Central Maine Power's transmission project as the alternative to Northern Pass for the state’s clean energy solicitation.
Three developers have submitted proposals in response to the Massachusetts solicitation for up to 800 MW of offshore wind energy.
Avangrid Q3 earnings fell 9% to $99 million on weaker-than-expected wind production, which the company said was partially offset with improved operations.
Representatives of companies that submitted clean energy tx projects made pitches at Raab Associates’ New England Electricity Restructuring Roundtable.
Hydro-Québec and various partners submitted six separate proposals to meet Massachusetts’ call for 9.45 TWh a year of renewable generation.
Avangrid earned $120 million in the second quarter, up 17% because of new rate plans, improved cost management and increased renewable energy production.
Avangrid reported consolidated net income of $239 million ($0.77/share), compared with $212 million ($0.69/share) for the same period in 2016.
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