Customers of UI, SCG and CNG To Pay Less in March-03.02.2016
03.02.2016 - Customers of UI, SCG and CNG To Pay Less in March
March 2, 2016
Michael A. West Jr.: 203-499-3858
NEW HAVEN, Conn. – March 2, 2016 - AVANGRID, Inc. (NYSE: AGR) and its Connecticut utilities, The United Illuminating Company, The Southern Connecticut Gas Company and Connecticut Natural Gas Corporation, announced today that eligible customers will receive a one-time bill credit during the month of March. These one-time bill credits will vary by utility company, as well as type of customer. For residential customers, the one-time credit will range from about $20.00 to $24.00.
The Company is crediting a total of $20 million to its customers in March. UI electric and SCG and CNG natural gas customers are eligible for the credit if they were active as of December 31, 2015 and normally see a fixed Basic Service Charge (electric) or Customer Charge (gas) itemized on their bill.
“This credit is one of the direct customer benefits from the merger with AVANGRID that also includes a freeze in rates for electric and natural gas customers as well as a commitment to charitable giving in our communities,” said James P. Torgerson, President and CEO of AVANGRID. A freeze in distribution rates for UI customers is through Jan. 1, 2017 while customers of CNG and SCG will have rates frozen through Jan. 1, 2018.
Customers will see this one-time “Merger Rate Credit” on their utility bill as early as March 2. Active customers who receive a UI and a SCG bill will see a credit on each bill.
Last December, Connecticut’s Public Utility Regulatory Authority approved the merger between the former UIL Holdings Corporation and Iberdrola USA (now AVANGRID, Inc.)
AVANGRID, Inc. (NYSE:AGR) is a diversified energy and utility company with $30 billion in assets and operations in 25 states. The company operates regulated network utilities and electricity generation through two primary lines of business. Avangrid Networks includes eight electric and natural gas utilities serving 3.1 million customers in New York and New England. Avangrid Renewables operates 6.3 gigawatts of electricity capacity, primarily through wind power, in states across the U.S. AVANGRID employs 7,000 people. The company was formed as a business combination between Iberdrola USA and UIL Holdings in 2015. AVANGRID remains an affiliate of the Iberdrola Group, a worldwide leader in the energy industry.