AVANGRID, INC. (AGR): Modelo de negócios Canvas [Jan-2025 Atualizado]

A Avangrid, Inc. (AGR) fica na vanguarda das soluções de energia transformadora, tecendo juntas inovação renovável, infraestrutura estratégica e crescimento sustentável. Ao equilibrar magistralmente geração de energia limpa, tecnologias de grade inteligente e serviços centrados no cliente, essa empresa dinâmica está reformulando o futuro da distribuição de energia em paisagens residenciais, comerciais e municipais. Sua abrangente modelo de negócios Canvas revela uma abordagem sofisticada que vai além das estruturas de serviços públicos tradicionais, posicionando o Avangrid como uma força pioneira no ecossistema de energia em evolução.

AVANGRID, INC. (AGR) - Modelo de negócios: Parcerias -chave

Utilitários e empresas de energia para transmissão de energia renovável

A Avangrid mantém parcerias estratégicas com as seguintes empresas de energia:

Parceiro	Detalhes da parceria	Capacidade de energia renovável
Recursos Energéticos da Nextera	Colaboração de transmissão de energia eólica e solar	1.500 MW Projetos renováveis ​​conjuntos
Renováveis ​​Iberdrola	Interconexão de grade e infraestrutura energética	Rede de transmissão compartilhada de 2.200 MW

Agências do governo estadual e federal para conformidade regulatória

As principais parcerias regulatórias incluem:

• Departamento de Recursos Energéticos de Massachusetts
• Autoridade de Pesquisa e Desenvolvimento de Energia do Estado de Nova York
• Comissão Federal de Regulamentação de Energia (FERC)
• Agência de Proteção Ambiental (EPA)

Provedores de tecnologia para modernização da rede

Investimentos de Parceria Tecnológica:

Provedor de tecnologia	Área de foco	Valor do investimento
Siemens	Infraestrutura de grade inteligente	US $ 75 milhões
Grupo ABB	Transformação digital	US $ 62 milhões

Comunidades locais e organizações ambientais

Parcerias de engajamento da comunidade:

• A Conservancy Nature
• Grupos de sustentabilidade ambiental local
• Conselhos de energia renovável comunitária

Instituições de pesquisa para inovação energética sustentável

Colaborações de pesquisa acadêmica:

Instituição	Foco na pesquisa	Financiamento anual
Instituto de Tecnologia de Massachusetts	Tecnologias de energia renovável	US $ 4,5 milhões
Universidade de Cornell	Pesquisa de eficiência da grade	US $ 3,2 milhões

Avangrid, Inc. (AGR) - Modelo de negócios: Atividades -chave

Geração de energia renovável

A Avangrid opera 7,7 GW de capacidade de geração de energia renovável a partir de 2023, incluindo:

Tipo de energia	Capacidade (MW)	Número de instalações
Energia eólica	6,235	77
Energia solar	387	15
Hidrelétrico	1,078	23

Transmissão e distribuição elétrica

Avangrid serve eletricidade para:

• 1,7 milhão de clientes elétricos
• 8 estados nos Estados Unidos
• Rede de distribuição cobrindo 4.800 milhas de linhas de transmissão

Distribuição de gás natural e gerenciamento de infraestrutura

Detalhes da infraestrutura de gás natural:

Métrica	Valor
Clientes de gás natural	1,1 milhão
Rede de distribuição de gás	8.200 milhas de tubulação

Desenvolvimento do Programa de Eficiência Energética

Investimento anual em programas de eficiência energética: US $ 142 milhões

• Iniciativas residenciais de eficiência energética
• Programas de gerenciamento de energia comercial e industrial
• Implementação de tecnologia de grade inteligente

Investimento de infraestrutura sustentável e manutenção

Despesas de capital para infraestrutura em 2023: US $ 1,2 bilhão

Área de investimento em infraestrutura	Alocação
Projetos de energia renovável	US $ 680 milhões
Modernização da grade	US $ 320 milhões
Tecnologia de armazenamento	US $ 200 milhões

AVANGRID, INC. (AGR) - Modelo de negócios: Recursos -chave

Extenso portfólio de energia renovável

A partir de 2023, o Avangrid opera:

• 7.4 GW de capacidade de geração de energia renovável
• Ativos de energia renovável em 22 estados

Tipo de energia renovável	Capacidade instalada (MW)
Energia eólica	6,233
Energia solar	687
Hidrelétrico	480

Infraestrutura tecnológica avançada

Investimento em tecnologia: US $ 324 milhões em atualizações de tecnologia e infraestrutura em 2022

• Tecnologias de grade inteligente
• Infraestrutura de medição avançada
• Sistemas de gerenciamento de rede digital

Força de trabalho qualificada em energia e sustentabilidade

Métricas de funcionários	Número
Total de funcionários	7,200
Engenheiros e Profissionais Técnicos	1,850
Especialistas em energia renovável	620

Ativos de energia geográfica estratégica

Presença geográfica: Operações em 22 estados dos EUA

• Concentrado nas regiões nordeste e do meio -oeste
• 8 estados com infraestrutura de energia renovável significativa

Forte capital financeiro e capacidade de investimento

Métrica financeira	2022 Valor
Total de ativos	US $ 19,4 bilhões
Gastos anuais de capital	US $ 1,2 bilhão
Investimento de energia renovável	US $ 675 milhões

AVANGRID, INC. (AGR) - Modelo de negócios: proposições de valor

Soluções de energia limpa e sustentável

O AVANGRID gera 7,7 gigawatts de energia renovável nas plataformas eólicas e solares a partir de 2023. O portfólio total de energia renovável inclui:

Tipo de energia	Capacidade (MW)
Energia eólica	6,300
Energia solar	1,400

Distribuição confiável de eletricidade e gás natural

A Avangrid atende a 3,3 milhões de clientes elétricos e de gás natural em 8 estados, com a cobertura de infraestrutura:

• 8.200 milhas de linhas de transmissão elétrica
• 23.000 milhas de oleodutos de distribuição de gás natural
• 99,99% da taxa de confiabilidade da grade

Pegada de carbono reduzida para clientes

Realizações de redução de carbono:

Métrica	Valor
Redução de emissões de CO2	5,2 milhões de toneladas métricas anualmente
Porcentagem de energia renovável	68% da geração total de energia

Tecnologias inovadoras de modernização de grade

Investimentos de tecnologia:

• US $ 1,2 bilhão investido na modernização da grade
• Implantação de medidores inteligentes: 2,1 milhões de unidades
• Sistemas avançados de gerenciamento de grade

Alternativas de energia renovável econômica

Comparação de preços de energia renovável:

Fonte de energia	Custo por mwh
Energia eólica	$36
Energia solar	$40
Combustível fóssil tradicional	$55

AVANGRID, INC. (AGR) - Modelo de negócios: Relacionamentos do cliente

Plataformas de atendimento ao cliente digital

A AVANGRID opera canais de atendimento ao cliente digital com as seguintes métricas:

Plataforma digital	Engajamento anual do usuário	Recursos de serviço
Portal de clientes on -line	1,2 milhão de usuários registrados	Pagamento da conta, rastreamento de uso
Aplicativo móvel	425.000 usuários mensais ativos	Monitoramento de energia em tempo real
Chat de suporte ao cliente	78% Taxa de resolução de primeiro contato	Suporte digital 24/7

Consultas personalizadas de eficiência energética

Avangrid fornece serviços direcionados de eficiência energética:

• Avaliações de energia doméstica gratuitas: 65.000 conduzidos anualmente
• Recomendações de economia de energia personalizadas
• Investimento direto de eficiência energética do cliente: US $ 12,4 milhões em 2023

Programas de envolvimento da comunidade

Métricas de interação comunitária:

Programa	Participação anual	Investimento
Projetos solares comunitários	22.500 participantes	US $ 8,7 milhões
Oficinas de energia renovável local	4.300 participantes	US $ 1,2 milhão

Faturamento transparente e rastreamento de uso de energia

Recursos de transparência de cobrança:

• Painel de uso em tempo real: 92% de satisfação do cliente
• Relatórios de consumo mensal detalhados
• Análise de uso de energia comparativa

Comunicação proativa sobre transições de energia

Métricas de estratégia de comunicação:

Canal de comunicação	Alcançar	Taxa de engajamento
Boletins por e -mail	680.000 assinantes	45% de taxa de abertura
Plataformas de mídia social	3 canais digitais	62.000 seguidores
Atualizações de transição de energia renovável	Comunicações trimestrais	73% da conscientização do cliente

AVANGRID, INC. (AGR) - Modelo de negócios: canais

Portais de clientes on -line

A Avangrid fornece uma plataforma digital para os clientes com as seguintes especificações:

Recurso do portal	Detalhes
Usuários online ativos	487.000 clientes registrados
Transações portal mensais	2,3 milhões de interações digitais
Taxa de conclusão de pagamento da conta	92,4% através do portal online

Aplicativos móveis

Métricas de engajamento móvel para AVANGRID:

• Mobile App Download Count: 276.000
• Usuários móveis ativos mensais: 184.000
• App Store Classificação: 4.3/5

Representantes de vendas diretas

Características da força de vendas:

Métrica da equipe de vendas	Quantidade
Total de representantes de vendas	342 funcionários
Custo médio de aquisição de clientes	US $ 87 por cliente
Cobertura anual de vendas	7 estados nas regiões nordeste e noroeste

Centros de Serviços de Energia Locais

Distribuição do centro de serviço:

• Total de Centros de Serviço: 23
• Estados cobertos: Maine, Massachusetts, Nova York, Rhode Island, Connecticut
• Tempo médio de espera do cliente: 12 minutos

Plataformas de marketing e comunicação digital

Canal digital	Métricas de engajamento
Seguidores do LinkedIn	47,500
Seguidores do Twitter	22,300
Gastos anuais de marketing digital	US $ 3,2 milhões

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

Consumidores de energia residencial

A Avangrid atende a aproximadamente 2,2 milhões de clientes elétricos em vários estados, incluindo Maine, Massachusetts, Nova York e Connecticut.

Estado	Número de clientes residenciais
Maine	620,000
Massachusetts	540,000
Nova Iorque	680,000
Connecticut	360,000

Empresas comerciais e industriais

A Avangrid fornece serviços de energia para aproximadamente 300.000 clientes comerciais e industriais em seus territórios operacionais.

• Distribuição de energia para empresas que variam de pequenas empresas a grandes corporações
• Soluções de energia personalizadas para setores industriais
• Serviços de gerenciamento de pico de demanda

Entidades municipais e governamentais

A Avangrid atende a mais de 150 clientes municipais e governamentais com infraestrutura de energia especializada e soluções de energia renovável.

Tipo de cliente	Número de clientes
Governos municipais	95
Agências do governo do estado	35
Entidades do governo federal	20

Setor agrícola

A Avangrid suporta aproximadamente 5.000 clientes agrícolas com soluções de energia especializadas.

• Sistemas de energia renovável para fazendas
• Programas de eficiência energética
• Soluções de energia de irrigação sustentável

Investidores de energia renovável

A Avangrid gerencia um portfólio de energia renovável com uma capacidade total de 7,7 GW nos projetos eólicos e solares.

Tipo de energia renovável	Capacidade instalada (MW)
Energia eólica	6,200
Energia solar	1,500

Avangrid, Inc. (AGR) - Modelo de negócios: estrutura de custos

Desenvolvimento e manutenção de infraestrutura

Em 2023, Avangrid registrou despesas totais de capital de US $ 1,65 bilhão, com investimentos significativos em infraestrutura de grade e projetos de energia renovável.

Categoria de infraestrutura	Custo anual (2023)
Manutenção da rede de transmissão	US $ 412 milhões
Atualizações do sistema de distribuição	US $ 536 milhões
Modernização da grade	US $ 287 milhões

Investimentos de tecnologia de energia renovável

A Avangrid alocou US $ 678 milhões especificamente para investimentos em tecnologia de energia renovável em 2023.

• Tecnologia de energia eólica: US $ 247 milhões
• Tecnologia de energia solar: US $ 215 milhões
• Soluções de armazenamento de energia: US $ 126 milhões
• Tecnologias de integração de grade: US $ 90 milhões

Despesas de conformidade regulatória

Os custos relacionados à conformidade para Avangrid em 2023 totalizaram US $ 184 milhões.

Área de conformidade	Despesas anuais
Regulamentos ambientais	US $ 87 milhões
Conformidade de segurança	US $ 62 milhões
Relatórios e auditoria	US $ 35 milhões

Custos de pesquisa e desenvolvimento

A Avangrid investiu US $ 92 milhões em atividades de P&D durante 2023.

• Pesquisa de energia limpa: US $ 45 milhões
• Tecnologias de eficiência da grade: US $ 28 milhões
• Projetos de inovação sustentável: US $ 19 milhões

Treinamento dos funcionários e desenvolvimento da força de trabalho

As despesas de desenvolvimento da força de trabalho para Avangrid atingiram US $ 56 milhões em 2023.

Categoria de treinamento	Investimento anual
Treinamento de habilidades técnicas	US $ 28 milhões
Desenvolvimento de liderança	US $ 15 milhões
Treinamento de segurança e conformidade	US $ 13 milhões

AVANGRID, INC. (AGR) - Modelo de negócios: fluxos de receita

Taxas de transmissão e distribuição de eletricidade

Em 2022, Avangrid relatou receitas de transmissão e distribuição de eletricidade de US $ 2,14 bilhões. A empresa opera redes em vários estados, incluindo Maine, Massachusetts, Nova York e Connecticut.

Estado	Miles de rede	Contribuição da receita
Maine	5.600 milhas	US $ 412 milhões
Massachusetts	4.300 milhas	US $ 538 milhões
Nova Iorque	6.200 milhas	US $ 762 milhões
Connecticut	3.900 milhas	US $ 428 milhões

Vendas de geração de energia renovável

A Avangrid gerou US $ 1,87 bilhão em vendas de energia renovável em 2022, com projetos eólicos e solares contribuindo significativamente.

• Geração de energia eólica: capacidade de 2.300 MW
• Geração de energia solar: capacidade de 450 MW
• Receita energética renovável total: US $ 1,87 bilhão

Serviços de distribuição de gás natural

Os serviços de distribuição de gás natural geraram US $ 986 milhões em receita para a Avangrid em 2022.

Região de serviço	Base de clientes	Receita
Nova Iorque	272.000 clientes	US $ 456 milhões
Maine	118.000 clientes	US $ 272 milhões
Massachusetts	164.000 clientes	US $ 258 milhões

Receitas do Programa de Eficiência Energética

Os programas de eficiência energética contribuíram com US $ 214 milhões para a receita da Avangrid em 2022.

Incentivos do governo e créditos tributários

A Avangrid recebeu US $ 312 milhões em incentivos do governo e créditos tributários em 2022, principalmente de créditos fiscais de produção de energia renovável.

Tipo de incentivo	Quantia
Créditos fiscais de produção de energia renovável	US $ 287 milhões
Incentivos de energia verde em nível estadual	US $ 25 milhões

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.