Central Maine Power's owner
Avangrid just announced their 2022 net income: $881M (+25% over 2021).
Good times for utility corporations.
Not so much for their #captivecustomers.
Avangrid boasts that results "benefited from the execution of rate plans in New York and Maine"
All those chronic billing issues that Avangrid-owned utilities keep having?
Not their fault--it's because of COVID!
That's literally what they said this week.
Your average toddler has more accountability than this corporation.
George Danby on the money:
https://danbyink.bdnblogs.com/2022/12/18/customer-satisfaction/
"Fake it till you make it" is CMP owner @avangrid's tactic in New Mexico, where they won't take "No" for an answer to acquiring a local utility.
Avangrid is being "disingenuous and confusing the public" says regulator.
Sound familiar?
Members of the New Mexico Public Regulatory Commission say a joint public relations campaign by the Public Service Company of New Mexico and energy giant Avangrid created confusion, but the state regulatory body does not have jurisdiction to stop them. Last year, the PRC blocked a merger between PNM and Avangrid, though that decision has […]
What drives decision-making at CMP owner Avangrid?
Execs are paid largely in shares--in 2021 $10M of the CEO's $14M compensation was stock.
Result? They push CMP and other subsidiaries relentlessly to maximize quarterly returns, raising share value.
Avangrid's lawyers chalk up a victory in Maine's Supreme Court in CMP #NECEC case.
If things don't go your way at the polls, no problem: just send in the lawyers to work the courts. It's the #Avangreed way.
In a ruling Tuesday morning, Maine's Supreme Judicial Court said that the state "acted within its constitutional and statutory authority" when granting CMP a lease through state-owned lands in 2020. The lease accounts for only a small part of the 145-mile-long transmission line.
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