Berkshire Gas parent company acquired by Iberdrola in $3 billion deal to create Avangrid | masslive.com
UIL Holdings, the parent company of Berkshire Gas, Southern Connecticut Gas, and Connecticut Natural Gas, has been acquired by the Spanish energy giant Iberdrola. The new vertically integrated company, Avangrid, is listed on the New York Stock Exchange as AGR and led by UIL chief executive James P. Torgerson. Avangrid, an affiliate of the worldwide Iberdrola Group, now holds $30 billion in assets and operations across 25 states, including utilities, wind energy, and natural gas storage. Iberdrola USA includes eight electric and natural gas utilities, serving 3.1 million customers in Connecticut, Massachusetts, Maine, and New York.