New Name In Store For NYSEG’s Parent Company
Bob Joseph/WNBF News [file][/caption]NYSEG's parent company is about to get a new name.
Iberdrola USA will soon be known as "Avangrid." The name change is being made in conjunction with the company's merger with UIL Holdings.
The combined entity's stock will be traded on the New York Stock Exchange under the ticker symbol "AGR."
Iberdrola will adopt the Avangrid name when the merger deal closed.
Utility regulators in Connecticut and Massachusetts are expected to approve Iberdrola's acquisition of UIL Holdings.
Iberdrola USA's NYSEG and Rochester Gas and Electric units serve customers in upstate New York.
After the merger with UIL, the company will have about 3.1 million customers in New York and New England.
Iberdrola USA is owned by Iberdrola SA of Spain.