Iberdrola, via Avangrid subsidiary, to boost revenues by $1.36 billion due to new tariffs in New York


Link Securities| Avangrid, Iberdrola’s US subsidiary, expects to obtain almost $1.36 billion in additional revenues from the increase in its electricity and gas rates in New York, according to elEconomista.es today. The company’s new tariff plan, which covers the period 2023-2026, includes double-digit increases and is expected to come into effect next month. The extra revenue, regulated by the state of New York, will be spread over three fiscal years: more than $200 million in the first fiscal year, almost $440 million in the second and some $720 million in the third.

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