Avangrid, Inc. (AGR): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Avangrid, Inc. (AGR) está a la vanguardia de las soluciones de energía transformadora, tejiendo innovación renovable, infraestructura estratégica y crecimiento sostenible. Al equilibrar magistralmente la generación de energía limpia, las tecnologías de la red inteligente y los servicios centrados en el cliente, esta empresa dinámica está remodelando el futuro de la distribución de energía en paisajes residenciales, comerciales y municipales. Su lienzo de modelo de negocio integral revela un enfoque sofisticado que va más allá de los marcos de utilidad tradicionales, posicionando a Avangrid como una fuerza pionera en el ecosistema de energía en evolución.

Avangrid, Inc. (AGR) - Modelo de negocios: asociaciones clave

Servicios públicos y compañías de energía para la transmisión de energía renovable

Avangrid mantiene asociaciones estratégicas con las siguientes compañías de energía:

Pareja	Detalles de la asociación	Capacidad de energía renovable
Recursos energéticos nextera	Colaboración de transmisión de energía eólica y solar	Proyectos renovables conjuntos de 1.500 MW
Renovables de iberdrola	Interconexión de cuadrícula e infraestructura energética	Red de transmisión compartida de 2.200 MW

Agencias gubernamentales estatales y federales para el cumplimiento regulatorio

Las asociaciones reguladoras clave incluyen:

• Departamento de Recursos Energéticos de Massachusetts
• Autoridad de Investigación y Desarrollo de Energía del Estado de Nueva York
• Comisión Reguladora Federal de Energía (FERC)
• Agencia de Protección Ambiental (EPA)

Proveedores de tecnología para la modernización de la red

Inversiones de asociación tecnológica:

Proveedor de tecnología	Área de enfoque	Monto de la inversión
Siemens	Infraestructura de cuadrícula inteligente	$ 75 millones
Grupo ABB	Transformación digital	$ 62 millones

Comunidades locales y organizaciones ambientales

Asociaciones de participación comunitaria:

• La conservación de la naturaleza
• Grupos locales de sostenibilidad ambiental
• Consejos de energía renovable comunitaria

Instituciones de investigación para innovación energética sostenible

Colaboraciones de investigación académica:

Institución	Enfoque de investigación	Financiación anual
Instituto de Tecnología de Massachusetts	Tecnologías de energía renovable	$ 4.5 millones
Universidad de Cornell	Investigación de eficiencia de la red	$ 3.2 millones

Avangrid, Inc. (AGR) - Modelo de negocio: actividades clave

Generación de energía renovable

Avangrid opera 7.7 GW de capacidad de generación de energía renovable a partir de 2023, incluyendo:

Tipo de energía	Capacidad (MW)	Número de instalaciones
Energía eólica	6,235	77
Energía solar	387	15
Hidroeléctrico	1,078	23

Transmisión y distribución eléctrica

Avangrid sirve electricidad para:

• 1.7 millones de clientes eléctricos
• 8 estados en los Estados Unidos
• Red de distribución que cubre 4,800 millas de líneas de transmisión

Distribución de gas natural y gestión de infraestructura

Detalles de la infraestructura de gas natural:

Métrico	Valor
Clientes de gas natural	1.1 millones
Red de distribución de gas	8,200 millas de tubería

Desarrollo del programa de eficiencia energética

Inversión anual en programas de eficiencia energética: $ 142 millones

• Iniciativas de eficiencia energética residencial
• Programas de gestión de energía comercial e industrial
• Implementación de tecnología de cuadrícula inteligente

Inversión y mantenimiento de infraestructura sostenible

Gasto de capital por infraestructura en 2023: $ 1.2 mil millones

Área de inversión de infraestructura	Asignación
Proyectos de energía renovable	$ 680 millones
Modernización de la cuadrícula	$ 320 millones
Tecnología de almacenamiento	$ 200 millones

Avangrid, Inc. (AGR) - Modelo de negocio: recursos clave

Extensa cartera de energía renovable

A partir de 2023, Avangrid opera:

• 7.4 GW de capacidad de generación de energía renovable
• Activos de energía renovable en 22 estados

Tipo de energía renovable	Capacidad instalada (MW)
Energía eólica	6,233
Energía solar	687
Hidroeléctrico	480

Infraestructura tecnológica avanzada

Inversión tecnológica: $ 324 millones en actualizaciones de tecnología e infraestructura en 2022

• Tecnologías de cuadrícula inteligente
• Infraestructura de medición avanzada
• Sistemas de gestión de redes digitales

Fuerza laboral calificada en energía y sostenibilidad

Métricas de empleados	Número
Total de empleados	7,200
Ingenieros y profesionales técnicos	1,850
Especialistas en energía renovable	620

Activos de energía geográfica estratégica

Presencia geográfica: Operaciones en 22 estados de EE. UU.

• Concentrado en las regiones del noreste y del medio oeste
• 8 estados con infraestructura de energía renovable significativa

Fuerte capital financiero y capacidad de inversión

Métrica financiera	Valor 2022
Activos totales	$ 19.4 mil millones
Gastos de capital anuales	$ 1.2 mil millones
Inversión de energía renovable	$ 675 millones

Avangrid, Inc. (AGR) - Modelo de negocio: propuestas de valor

Soluciones de energía limpia y sostenible

Avangrid genera 7.7 gigavatios de energía renovable en plataformas eólicas y solares a partir de 2023. La cartera total de energía renovable incluye:

Tipo de energía	Capacidad (MW)
Energía eólica	6,300
Energía solar	1,400

Distribución confiable de electricidad y gas natural

Avangrid atiende a 3.3 millones de clientes de gas eléctrico y natural en 8 estados, con cobertura de infraestructura:

• 8,200 millas de líneas de transmisión eléctrica
• 23,000 millas de tuberías de distribución de gas natural
• Tasa de confiabilidad de la red 99.99%

Huella de carbono reducida para los clientes

Logros de reducción de carbono:

Métrico	Valor
Reducción de emisiones de CO2	5.2 millones de toneladas métricas anualmente
Porcentaje de energía renovable	68% de la generación total de energía

Tecnologías innovadoras de modernización de la red

Inversiones tecnológicas:

• $ 1.2 mil millones invertidos en modernización de la red
• Implementación del medidor inteligente: 2.1 millones de unidades
• Sistemas avanzados de gestión de cuadrículas

Alternativas rentables de energía renovable

Comparación de precios de energía renovable:

Fuente de energía	Costo por MWH
Energía eólica	$36
Energía solar	$40
Combustible fósil tradicional	$55

Avangrid, Inc. (AGR) - Modelo de negocios: relaciones con los clientes

Plataformas de servicio al cliente digital

Avangrid opera canales de servicio al cliente digital con las siguientes métricas:

Plataforma digital	Participación anual del usuario	Características de servicio
Portal de clientes en línea	1.2 millones de usuarios registrados	Pago de facturas, seguimiento de uso
Aplicación móvil	425,000 usuarios mensuales activos	Monitoreo de energía en tiempo real
Chat de atención al cliente	Tasa de resolución de primer contacto del 78%	Soporte digital 24/7

Consultas personalizadas de eficiencia energética

Avangrid proporciona servicios específicos de eficiencia energética:

• Evaluaciones gratuitas de energía en el hogar: 65,000 realizados anualmente
• Recomendaciones de ahorro de energía personalizadas
• Inversión directa de eficiencia energética del cliente: $ 12.4 millones en 2023

Programas de participación comunitaria

Métricas de interacción comunitaria:

Programa	Participación anual	Inversión
Proyectos solares comunitarios	22,500 participantes	$ 8.7 millones
Talleres locales de energía renovable	4.300 asistentes	$ 1.2 millones

Facturación transparente y seguimiento de uso de energía

Características de transparencia de facturación:

• Panel de uso en tiempo real: 92% de satisfacción del cliente
• Informes de consumo mensuales detallados
• Análisis comparativo de uso de energía

Comunicación proactiva sobre transiciones energéticas

Métricas de estrategia de comunicación:

Canal de comunicación	Alcanzar	Tasa de compromiso
Boletines por correo electrónico	680,000 suscriptores	45% de tasa de apertura
Plataformas de redes sociales	3 canales digitales	62,000 seguidores
Actualizaciones de transición de energía renovable	Comunicaciones trimestrales	73% de conciencia del cliente

Avangrid, Inc. (AGR) - Modelo de negocio: canales

Portales de clientes en línea

Avangrid proporciona una plataforma digital para los clientes con las siguientes especificaciones:

Característica de portal	Detalles
Usuarios en línea activos	487,000 clientes registrados
Transacciones mensuales de portal	2.3 millones de interacciones digitales
Tasa de finalización del pago de la factura	92.4% a través del portal en línea

Aplicaciones móviles

Métricas de compromiso móvil para Avangrid:

• Descarga de la aplicación móvil Recuento: 276,000
• Usuarios móviles activos mensuales: 184,000
• Calificación de la tienda de aplicaciones: 4.3/5

Representantes de ventas directas

Características de la fuerza de ventas:

Métrica del equipo de ventas	Cantidad
Representantes de ventas totales	342 empleados
Costo promedio de adquisición de clientes	$ 87 por cliente
Cobertura de ventas anual	7 estados en las regiones del noreste y noroeste

Centros de servicio de energía local

Distribución del centro de servicio:

• Centros de servicio totales: 23
• Estados cubiertos: Maine, Massachusetts, Nueva York, Rhode Island, Connecticut
• Tiempo de espera promedio del cliente: 12 minutos

Plataformas de marketing y comunicación digital

Canal digital	Métricas de compromiso
Seguidores de LinkedIn	47,500
Seguidores de Twitter	22,300
Gasto anual de marketing digital	$ 3.2 millones

Avangrid, Inc. (AGR) - Modelo de negocio: segmentos de clientes

Consumidores de energía residencial

Avangrid atiende a aproximadamente 2.2 millones de clientes eléctricos en múltiples estados, incluidos Maine, Massachusetts, Nueva York y Connecticut.

Estado	Número de clientes residenciales
Maine	620,000
Massachusetts	540,000
Nueva York	680,000
Connecticut	360,000

Negocios comerciales e industriales

Avangrid brinda servicios de energía a aproximadamente 300,000 clientes comerciales e industriales en sus territorios operativos.

• Distribución de energía a empresas que van desde pequeñas empresas hasta grandes corporaciones
• Soluciones de energía personalizadas para sectores industriales
• Servicios de gestión de la demanda máxima

Entidades municipales y gubernamentales

Avangrid sirve a más de 150 clientes municipales y gubernamentales con infraestructura energética especializada y soluciones de energía renovable.

Tipo de cliente	Número de clientes
Gobiernos municipales	95
Agencias gubernamentales estatales	35
Entidades del gobierno federal	20

Sector agrícola

Avangrid admite aproximadamente 5,000 clientes agrícolas con soluciones de energía especializadas.

• Sistemas de energía renovable para granjas
• Programas de eficiencia energética
• Soluciones de energía de riego sostenible

Inversores de energía renovable

Avangrid administra una cartera de energía renovable con una capacidad total de 7.7 GW en proyectos eólicos y solares.

Tipo de energía renovable	Capacidad instalada (MW)
Energía eólica	6,200
Energía solar	1,500

Avangrid, Inc. (AGR) - Modelo de negocio: estructura de costos

Desarrollo y mantenimiento de la infraestructura

En 2023, Avangrid reportó gastos de capital totales de $ 1.65 mil millones, con importantes inversiones en infraestructura de red y proyectos de energía renovable.

Categoría de infraestructura	Costo anual (2023)
Mantenimiento de la red de transmisión	$ 412 millones
Actualizaciones del sistema de distribución	$ 536 millones
Modernización de la cuadrícula	$ 287 millones

Inversiones de tecnología de energía renovable

Avangrid asignó $ 678 millones específicamente para inversiones en tecnología de energía renovable en 2023.

• Tecnología de energía eólica: $ 247 millones
• Tecnología de energía solar: $ 215 millones
• Soluciones de almacenamiento de energía: $ 126 millones
• Tecnologías de integración de cuadrícula: $ 90 millones

Gastos de cumplimiento regulatorio

Los costos relacionados con el cumplimiento para Avangrid en 2023 totalizaron $ 184 millones.

Área de cumplimiento	Gasto anual
Regulaciones ambientales	$ 87 millones
Cumplimiento de seguridad	$ 62 millones
Informes y auditorías	$ 35 millones

Costos de investigación y desarrollo

Avangrid invirtió $ 92 millones en actividades de I + D durante 2023.

• Investigación de energía limpia: $ 45 millones
• Tecnologías de eficiencia de cuadrícula: $ 28 millones
• Proyectos de innovación sostenible: $ 19 millones

Capacitación de empleados y desarrollo de la fuerza laboral

Los gastos de desarrollo de la fuerza laboral para Avangrid alcanzaron $ 56 millones en 2023.

Categoría de entrenamiento	Inversión anual
Capacitación de habilidades técnicas	$ 28 millones
Desarrollo de liderazgo	$ 15 millones
Capacitación de seguridad y cumplimiento	$ 13 millones

Avangrid, Inc. (AGR) - Modelo de negocio: flujos de ingresos

Tasas de transmisión y distribución de electricidad

En 2022, Avangrid informó ingresos por transmisión y distribución de electricidad de $ 2.14 mil millones. La compañía opera redes en múltiples estados, incluidos Maine, Massachusetts, Nueva York y Connecticut.

Estado	Millas de red	Contribución de ingresos
Maine	5,600 millas	$ 412 millones
Massachusetts	4,300 millas	$ 538 millones
Nueva York	6.200 millas	$ 762 millones
Connecticut	3,900 millas	$ 428 millones

Ventas de generación de energía renovable

Avangrid generó $ 1.87 mil millones a partir de ventas de energía renovable en 2022, con proyectos eólicos y solares que contribuyen significativamente.

• Generación de energía eólica: capacidad de 2.300 MW
• Generación de energía solar: capacidad de 450 MW
• Ingresos totales de energía renovable: $ 1.87 mil millones

Servicios de distribución de gas natural

Los servicios de distribución de gas natural generaron $ 986 millones en ingresos para Avangrid en 2022.

Región de servicio	Base de clientes	Ganancia
Nueva York	272,000 clientes	$ 456 millones
Maine	118,000 clientes	$ 272 millones
Massachusetts	164,000 clientes	$ 258 millones

Ingresos del programa de eficiencia energética

Los programas de eficiencia energética contribuyeron con $ 214 millones a los ingresos de Avangrid en 2022.

Incentivos gubernamentales y créditos fiscales

Avangrid recibió $ 312 millones en incentivos gubernamentales y créditos fiscales en 2022, principalmente de créditos fiscales de producción de energía renovable.

Tipo de incentivo	Cantidad
Créditos fiscales de producción de energía renovable	$ 287 millones
Incentivos de energía verde a nivel estatal	$ 25 millones

Avangrid, Inc. (AGR) - Canvas Business Model: Value Propositions

You're looking at the core promises Avangrid, Inc. (AGR) makes to its customers and the market as of late 2025. These aren't just vague goals; they are backed by concrete infrastructure and capacity numbers, which is what matters for a utility this size.

The most fundamental value is the steady, regulated delivery of power and gas. Avangrid, Inc. provides stable, regulated delivery of electric and natural gas to over 3.4 million customers across its networks business in New York and New England. That's a massive, essential service base that depends on consistent operation.

When it comes to the clean energy transition, Avangrid, Inc. is putting serious capital to work to back up its leadership claims. The company is enhancing grid resilience through a massive $18.5 billion investment plan slated through 2028, aimed at rebuilding aging infrastructure and expanding capacity. This investment is key to supporting future energy needs.

Here's a quick look at the scale of their generation portfolio, which is heavily leaning toward cleaner sources:

Metric	Value as of Early/Mid 2025	Source Context
Total Installed Energy Capacity	10.5 GW	Across 80 operating power plants.
Emissions-Free Installed Capacity	9.3 GW	Primarily wind and solar generation.
Total Energy Generated (H1 2025)	Approx. 13,000 GWh	Enough to power about 2.4 million U.S. homes.

The company is definitely leading the U.S. clean energy transition by building out its renewables portfolio, though we see that the total capacity includes natural gas and fuel cells alongside wind and solar. Still, the commitment is clear in the numbers; they are actively growing their clean footprint.

For your large commercial users, especially those in high-growth areas, Avangrid, Inc. offers specific reliability propositions. They are focused on providing structured energy solutions and risk management, which you see reflected in their current project load:

• Currently involved in 8 active projects powering data centers.
• Has 10 projects providing over 1.5 GW of energy to data centers and AI leaders.
• Has 5 more projects under construction totaling nearly 700 MW for technology and AI firms.

This focus directly addresses the need for a reliable power supply for high-demand sectors like data centers and AI, which are driving much of the current grid investment need. The $18.5 billion infrastructure spend is designed to harden the grid and expand capacity specifically for these growth areas. That's the kind of concrete action that builds customer trust, you know?

Finance: draft 13-week cash view by Friday.

Avangrid, Inc. (AGR) - Canvas Business Model: Customer Relationships

You're looking at how Avangrid, Inc. manages the people who rely on their power and gas-the core of their regulated utility business. For Avangrid, customer relationships are fundamentally tied to meeting mandated service levels, which is a different kind of pressure than pure market competition.

Regulated service model focused on mandated reliability and safety.

The relationship here is one of essential service provision under regulatory oversight. Avangrid's networks business serves more than 3.4 million customers across New York and New England. This service delivery is non-negotiable, meaning reliability and safety are the primary customer value propositions, especially as the sector faces load growth pressures. To be fair, maintaining this trust is harder when projections show residential electric rates could climb between 15% and 40% over the next five years. That puts a spotlight on every outage and every service interaction.

Digital engagement via mobile apps and energy management tools.

Customers are definitely interacting with Avangrid through digital channels more than ever before. This shift drives the need for seamless self-service options. You see this focus in the ongoing development and promotion of their mobile application suite and various energy management tools offered to help customers control usage and costs.

• Focus on mobile app adoption.
• Integration of energy management tools.
• Leveraging AI for service improvements.

Customer Experience and Digital Center of Excellence for service improvement.

Avangrid established its Customer Experience and Digital Center of Excellence in 2023 to consolidate strategy across digital product development, marketing, and journey redesign. Since its formation, this dedicated cross-functional unit has demonstrably increased customer satisfaction and reduced hold times for customer calls. The September 2025 Digital Summit, themed "Unlocking AI," shows a commitment to using advanced technology like artificial intelligence and machine learning to solve challenges specifically in customer service and smart grid operations.

Community engagement through local non-profit sponsorships (over $200,000 in 2025).

Beyond the meter, Avangrid builds goodwill through targeted local support. In 2025, the company supported over 80 local non-profit organizations across 20 states where it operates facilities. Through its Community Sponsorship Programme, Avangrid distributed over $200,000 to these groups, reinforcing its commitment to the immediate neighborhoods it serves. This is relationship building at the grassroots level.

Dedicated account management for large industrial/commercial clients.

For your largest energy users-the big industrial and commercial clients-the relationship model shifts to dedicated account management. These relationships focus on customized service, load management, and ensuring the high-capacity infrastructure meets their specific operational demands, which is critical given the overall grid strain.

Here's a quick look at some key customer-facing statistics as of late 2025:

Metric	Value (as of late 2025)	Business Segment/Context
Networks Customers Served	3.4 million	Electric and natural gas utilities in New York and New England
2025 Community Sponsorships Distributed	Over $200,000	Support for over 80 non-profits across 20 states
Digital Center of Excellence Success	Reduced hold times for customer calls	Reported improvement since 2023 formation
Projected Residential Rate Increase (Next 5 Yrs)	15% to 40%	Context for customer affordability and trust mandate

Finance: draft 13-week cash view by Friday.

Avangrid, Inc. (AGR) - Canvas Business Model: Channels

You're looking at how Avangrid, Inc. gets its product-reliable electricity and gas-to the end-user, which is a mix of regulated monopolies and direct energy sales. It's a massive physical footprint coupled with modern digital interfaces.

The core of Avangrid, Inc.'s delivery system is its physical infrastructure, which is heavily regulated in specific geographic areas. This forms the backbone for serving its utility customers.

Channel Component	Metric/Scale (As of late 2025 Data)	Scope/Detail
Regulated Utility Customers Served	More than 3.4 million customers	Served across eight electric and natural gas utilities in New York and New England.
Electric Transmission/Distribution Miles (Select Subsidiaries)	Approx. 33,165 miles (CMP Distribution)	Central Maine Power Company (CMP) operates this mileage in central and southern Maine.
Electric Distribution/Transmission Miles (Select Subsidiaries)	Approx. 44,000 miles (NYSEG Distribution)	New York State Electric & Gas Corporation (NYSEG) operates this mileage across more than 40% of upstate New York.
Gas Distribution Pipeline Miles (Select Subsidiaries)	Approx. 8,400 miles (RG&E)	Rochester Gas and Electric Corporation (RG&E) operates this mileage in its New York service area.
Infrastructure Investment Commitment	$18.5 billion planned investment	For U.S. electric and gas infrastructure through 2028, focusing on utility networks in New York and New England.
2025 Infrastructure Activity	Over 24,000 utility pole replacements	Completed by subsidiary utility companies across the Northeast so far in 2025 to boost reliability.

For its wholesale power business, Avangrid, Inc. uses direct, long-term contracts to secure revenue and manage portfolio risk. These Power Purchase Agreements (PPAs) are key for its renewable generation assets.

• Direct PPA with CPS Energy extended to 320 MW from the Peñascal wind farm.
• Signed a 57 MWdc (41 MWac) solar PPA with Amazon for the Oregon Trail Solar project.
• Executed a 120MW PPA with Portland General Electric (PGE) for the Tower Solar project.
• Owns and operates 80 energy generation facilities across the U.S., totaling 10.5 GW of power capacity.
• Currently has 10 projects supplying over 1.5 GW to data centers, with nearly 700 MW more under construction.

The regulated utilities use standard customer service channels to interact with the 3.4 million customers they serve. You see this in their digital offerings and their centralized operational oversight.

• Digital self-service portals and mobile applications are used for billing and outage reporting.
• A 24/7 National Control Center manages the real-time portfolio for the generation assets.

Finance: confirm the latest customer count for United Illuminating (UI) and The Southern Connecticut Gas Company (SCG) to refine the 3.4 million total by end of Q4 2025.

Avangrid, Inc. (AGR) - Canvas Business Model: Customer Segments

You're looking at the core groups Avangrid, Inc. (AGR) serves across its Networks and Power businesses as of late 2025. It's a mix of regulated utility customers and wholesale power purchasers.

The utility customer base in New York and New England is substantial, driven by the operations of its eight electric and natural gas utilities.

Customer Group Detail	Metric	Value
Total Utility Customers (NY & New England)	Customers Served	More than 3.4 million
Utility Customers (Alternative Figure)	Customers Served	More than 3.3 million
New York State Electric & Gas (NYSEG) Electricity Customers	Customers Served	Approximately 920,000
Rochester Gas and Electric (RG&E) Electricity Customers	Customers Served	Approximately 393,100

For large-scale power needs, Avangrid, Inc. is actively serving major energy consumers, particularly those in high-demand sectors like technology.

• Data centers and technology/AI companies are currently served by 10 projects, providing more than 1.5 GW of energy.
• An additional 5 projects, totaling nearly 700 MW, are under construction to meet further demand from these large off-takers.
• Avangrid, Inc. operates 80 energy generation facilities across the United States.

The Renewables fleet targets wholesale energy markets, selling power generated from its substantial asset base. The total generation capacity across all facilities is 10.5 GW.

Here's a look at the scale of the power generation portfolio that feeds these markets:

Renewables Fleet Metric	Value
Total Operating Generation Facilities	80
Total Generation Capacity (All Facilities)	10.5 GW
Electricity Generated (H1 2025)	Approximately 13,000 GWh
Wind Generation Capacity (Historical Benchmark)	5.6 GW
Percentage of Wind Capacity Contracted (Historical Benchmark)	Approximately 69%

Engagement with state and municipal entities centers on grid modernization and clean energy mandates, often involving significant capital investment or federal contract awards.

• Avangrid, Inc. has an announced investment plan of $20 billion in U.S. electrical grid infrastructure through 2030.
• A specific investment in Ithaca, NY, totals $41 million across five projects to improve local electrical grid capacity.
• The company secured a $425 million capacity contract from the U.S. Department of Energy for its Aroostook Renewable Project in Maine.

Avangrid, Inc. (AGR) - Canvas Business Model: Cost Structure

You're looking at the heavy investment required to keep the lights on and the gas flowing across New York and New England. The cost structure for Avangrid, Inc. (AGR) is dominated by the sheer scale of its physical assets. This isn't a software company; it's about steel, wires, and pipes that need constant upkeep and massive upgrades.

The most significant outlay is heavy capital expenditure (CapEx) for infrastructure. You see this commitment clearly in the latest plan: Avangrid, Inc. has announced plans to invest $18.5 billion in U.S. electric and gas infrastructure by 2028. This builds on prior commitments, like the $\mathbf{\$20 \text{ billion}}$ investment planned through 2030 to rebuild and strengthen critical infrastructure in the Northeast. This CapEx is designed to reinforce utility networks, expand capacity for things like data centers, and harden systems against severe weather, which helps avoid escalating storm restoration costs down the line.

Next up is procurement costs for equipment and services. This is where the infrastructure spending translates into direct supplier payments. Honestly, Avangrid, Inc. is a major domestic spender. They grew their investment with U.S. suppliers by 16% compared to 2023, hitting $4.3 billion spent with U.S. suppliers in 2024. They partner with over 7,000 suppliers across all 50 states to source American-made equipment for their utility and power generation operations.

The day-to-day running of the business involves substantial operating expenses. These cover everything from routine utility maintenance to the unpredictable costs of storm restoration and labor for their approximately 8,000 employees. Here's a quick look at how total operating expenses have trended, based on their reported financials (in millions USD):

Period Ending	Total Operating Expenses (Millions USD)	Fuel & Purchased Power (Millions USD, FY 2023)	Operations & Maintenance (Millions USD, FY 2023)
TTM Sep '24	$7,362	N/A	N/A
FY 2023	$7,356	$2,429	$3,095
FY 2022	$7,129	$2,456	$2,857

You also have to account for the cost of money. Given the massive $\mathbf{\$18.5 \text{ billion}}$ CapEx plan, interest expense on debt financing is a material line item. For instance, their Total Debt was reported at $\mathbf{\$12,965 \text{ million}}$ at one point, which carries a financing cost. Looking at the income statement, the Net Interest Expense was $\mathbf{-\$409 \text{ million}}$ for Fiscal Year 2023, rising to $\mathbf{-\$487 \text{ million}}$ for the Trailing Twelve Months ending September 2024. If interest rates climb, that number defintely gets bigger.

Finally, there are the costs associated with operating under state oversight. Regulatory compliance and rate case preparation expenses are ongoing. While I don't have a specific dollar amount for the compliance budget for late 2025, you know these costs are real because the company actively engages in advocacy, such as securing the New York Utility Corporation Securitization Act to resolve legacy storm debt exceeding $\mathbf{\$750 \text{ million}}$ for their NYSEG and RG&E customers. Furthermore, their utilities are subject to periodic rate reviews by commissions like the NYPSC, MPUC, PURA, and DPU, all of which involve significant administrative and legal preparation costs.

Here are the key cost drivers you need to track:

• Capital Intensity: $\mathbf{\$18.5 \text{ billion}}$ planned investment through 2028.
• Debt Servicing: Interest Expense trending toward $\mathbf{\$500 \text{ million}}$ annually.
• Supply Chain: $\mathbf{\$4.3 \text{ billion}}$ spent with U.S. suppliers in 2024.
• Operations: Total Operating Expenses near $\mathbf{\$7.4 \text{ billion}}$ recently.

Finance: draft 13-week cash view by Friday.

Avangrid, Inc. (AGR) - Canvas Business Model: Revenue Streams

You're looking at how Avangrid, Inc. (AGR) actually brings in the money, which is really the core of its business model, especially now that it's part of the Iberdrola Group following the May 2024 acquisition. The revenue streams are clearly split between its regulated utility operations and its growing renewables portfolio. Honestly, the regulated side provides the stability you want to see in a utility.

The primary, most predictable income comes from Regulated tariff revenue from the Networks business. This unit manages eight regulated electric and natural gas utilities serving customers across New York, Maine, Connecticut, and Massachusetts. Revenue here is based on approved rate plans, like the ones driving Networks segment earnings in New York and Maine, which contributed to a segment earnings of $152 million in the second quarter of 2024. You can expect this to be a steady flow, tied to the rate base and allowed returns.

For the forward-looking picture, the Estimated 2025 total revenue projected at nearly $8.90 billion is the number you should anchor to for planning purposes, even though the trailing twelve months revenue as of late 2024 was reported at $8.70 Billion USD. This projected growth reflects the combined strength of both segments moving into the new fiscal year.

The Renewables business drives revenue through Power sales revenue from the Renewables business via long-term PPAs (Power Purchase Agreements). Avangrid, Inc. targets having over 80% of its renewable capacity secured this way to limit exposure to volatile spot markets. As of September 30, 2024, about 77% of capacity was contracted under PPAs with an average term of 10 years, with another 9% hedged. This structure locks in cash flows for the long haul.

Beyond the contracted power, you also capture income from Wholesale market sales of generated electricity and renewable energy credits (RECs). This portion is more exposed to market fluctuations but can provide upside when power prices spike, as seen with some merchant price increases noted in the third quarter of 2024 results. For context on the scale, Avangrid's portfolio produced approximately 13,000 Gigawatt hours (GWh) of electricity in the first six months of 2025 alone, enough to power about 2.4 million U.S. homes.

Finally, there's Revenue from transmission services (e.g., NECEC project). The New England Clean Energy Connect (NECEC) project, a joint venture with Hydro-Quebec, is a major component here. While initial estimates suggested a $950 million investment, the total planned spend is now closer to $1.5 billion. This project is designed to generate revenue through Tariff Service Agreements (TSAs) with Central Maine Power (CMP) and Massachusetts utilities, providing capacity for 1,200 MW of clean hydropower. Older estimates suggested this could yield roughly $60 million a year in net income over its 20-year contract life.

Here's a quick look at some key operational metrics that feed these revenue streams, based on the latest available segment data:

Metric	Networks Business	Renewables Business (Q2 2024 Earnings)	Renewables Capacity Contracted (as of 9/30/2024)
Customer Base / Capacity	Over 3 million customers	10,037 megawatts (wind, solar, thermal)	77% under PPA
Financial Contribution (Earnings)	$152 million (Q2 2024)	$70 million (Q2 2024)	9% Hedged
Key Revenue Driver	Regulated rate plan execution	Strong resource performance and pricing	Average PPA term of 10 years

You should note that the Networks segment earnings in Q2 2024 were significantly up, reaching $152 million, compared to $85 million in net income for the entire company in Q2 2023. This highlights the importance of the regulated utility performance to the overall top line.

The Renewables segment also saw strong performance in the first half of 2024, with adjusted earnings of $165 million for the first half of 2024, driven by strong balancing resource performance and increased pricing. Finance: draft 13-week cash view by Friday.