December 2022 North American winter storm

Statement From Avangrid on the Maine Utility Takeover Referendum

Retrieved on: 
Wednesday, November 8, 2023

The following is a statement from Avangrid, Inc. (NYSE: AGR) regarding today’s vote on the Maine utility takeover referendum:

Key Points: 
  • The following is a statement from Avangrid, Inc. (NYSE: AGR) regarding today’s vote on the Maine utility takeover referendum:
    “Fifty years ago, in 1973, voters in Maine soundly rejected a proposal to seize Maine’s electric grid and replace it with a political board ( 61 NO – 39 YES ).
  • Maine voters have once again rejected this risky proposal.
  • “Next year Central Maine Power will mark 125 years since its founding, and its commitment to delivering safe and reliable service remains unchanged.
  • “In the face of climate change, meeting the needs of an increasingly electrified society is best done by those with the most experience.

Avangrid Earns Twelve ESG+F Accolades in 2023

Retrieved on: 
Wednesday, September 20, 2023

In addition, Avangrid Chairman Ignacio Galán has been awarded two prestigious honors this year from the Foreign Policy Association and the World Jurist Association.

Key Points: 
  • In addition, Avangrid Chairman Ignacio Galán has been awarded two prestigious honors this year from the Foreign Policy Association and the World Jurist Association.
  • “Each and every one of these awards is a reflection of our commitment to upholding ESG+F principles in everything that we do,” said Pedro Azagra, Avangrid CEO.
  • Avangrid’s 2023 awards and recognitions include:
    FTSE4Good Index Series , by FTSE Russell: Measures the performance of companies demonstrating strong Environmental, Social and Governance (ESG) practices.
  • Avangrid ranked second overall within the utility industry and first among utilities for its commitment to the environment.

Industrial Defender Appoints Power Industry Luminary Joy Ditto as Strategic Advisor

Retrieved on: 
Thursday, September 7, 2023

FOXBOROUGH, Mass., Sept. 7, 2023 /PRNewswire/ -- Industrial Defender, the leading provider of OT asset data and cybersecurity solutions for industrial organizations, has appointed renowned power industry leader Joy Ditto as a strategic advisor to the company.

Key Points: 
  • FOXBOROUGH, Mass., Sept. 7, 2023 /PRNewswire/ -- Industrial Defender, the leading provider of OT asset data and cybersecurity solutions for industrial organizations, has appointed renowned power industry leader Joy Ditto as a strategic advisor to the company.
  • As a strategic advisor, Ditto will support Industrial Defender in accelerating growth and meeting industry needs, building upon three consecutive record-breaking quarters.
  • "We are excited and privileged to bring Joy Ditto on as a strategic advisor at Industrial Defender.
  • To learn more about Joy Ditto please visit: https://joydittoconsulting.com/
    Watch Industrial Defender's webinar featuring Joy Ditto on NERC CIP initiatives: https://www.industrialdefender.com/watch/watch-revisiting-the-fundamenta...

Norfolk State University Partners with CPower to Support Grid Reliability Across Virginia

Retrieved on: 
Wednesday, June 21, 2023

BALTIMORE, June 21, 2023 /PRNewswire/ -- CPower Energy ("CPower"), the leading, national distributed energy resource (DER) monetization and Virtual Power Plant (VPP) provider, today announced it has partnered with Norfolk State University (NSU), a four-year public education institution in Norfolk, Va., to further grid reliability across the Commonwealth of Virginia.

Key Points: 
  • BALTIMORE, June 21, 2023 /PRNewswire/ -- CPower Energy (" CPower "), the leading, national distributed energy resource (DER) monetization and Virtual Power Plant (VPP) provider, today announced it has partnered with Norfolk State University (NSU), a four-year public education institution in Norfolk, Va., to further grid reliability across the Commonwealth of Virginia.
  • Demand response (DR) rewards energy users for reducing their energy consumption during times of high demand on the grid.
  • CPower has helped NSU develop strategies for reducing its energy use when the grid is stressed without impacts to operations or student health and safety.
  • We are honored to partner with Norfolk State University, and with its unique abilities, are happy to further strengthen the grid across the Commonwealth," said John Horton, President and CEO, CPower.

Avangrid Earns Eight Accolades in First Half of 2023

Retrieved on: 
Wednesday, June 14, 2023

“It is an honor to receive eight prestigious recognitions in just six months and it speaks to the hard work and dedication of the Avangrid team,” said Pedro Azagra, Avangrid CEO.

Key Points: 
  • “It is an honor to receive eight prestigious recognitions in just six months and it speaks to the hard work and dedication of the Avangrid team,” said Pedro Azagra, Avangrid CEO.
  • “Each of these awards highlight the groundbreaking work that Avangrid, in partnership with Iberdrola, is achieving in sustainability and climate leadership.
  • I am proud of our commitment to building a clean energy future for all while maintaining socially responsible business practices.
  • Avangrid ranked second overall within the utility industry and first among utilities for its commitment to the environment.

Avangrid Companies Receive EEI Emergency Response Award

Retrieved on: 
Tuesday, June 13, 2023

Avangrid, Inc. (NYSE: AGR), a leading sustainable energy company and member of the Iberdrola Group, today announced it has received its fourteenth Edison Electric Institute (EEI) Emergency Response Award.

Key Points: 
  • Avangrid, Inc. (NYSE: AGR), a leading sustainable energy company and member of the Iberdrola Group, today announced it has received its fourteenth Edison Electric Institute (EEI) Emergency Response Award.
  • “I am continually amazed by the depth of our team’s commitment to ensuring safe, reliable service,” said Avangrid CEO Pedro Azagra.
  • The planning, preparation, and response to Winter Storm Elliott was a team effort, and all of us at Avangrid are immensely proud to receive EEI’s momentous Emergency Response Award in recognition of those efforts.”
    Presented to EEI member companies twice a year, the Emergency Response Awards recognize recovery and assistance efforts of electric companies following service disruptions caused by extreme weather or other natural events.
  • Following an international nomination process, EEI announced the Avangrid companies as a recipients during EEI’s summer Board of Directors and CEO meeting held in conjunction with EEI 2023.

NI Holdings, Inc. Reports Results for First Quarter Ended March 31, 2023

Retrieved on: 
Monday, May 8, 2023

“Losses from winter storms that occurred in late 2022, including Winter Storm Elliott, developed more than we initially expected and impacted our results in early 2023.

Key Points: 
  • “Losses from winter storms that occurred in late 2022, including Winter Storm Elliott, developed more than we initially expected and impacted our results in early 2023.
  • However, we continue to take significant rate and underwriting actions, especially in the Commercial segment, to improve our profitability.
  • In our Home/Farm segment, we continued to benefit from the actions we took throughout 2022 to drive improved profitability in that segment.
  • Overall, the company achieved strong top-line growth this quarter, led by the Non-Standard Auto segment, driven by the rate increases implemented in 2022.

Ecovyst Reports First Quarter 2023 Results

Retrieved on: 
Thursday, May 4, 2023

Ecovyst Inc. (NYSE: ECVT) (“Ecovyst” or the “Company”), a leading integrated and innovative global provider of specialty catalysts and services, today reported results for the first quarter ended March 31, 2023.

Key Points: 
  • Ecovyst Inc. (NYSE: ECVT) (“Ecovyst” or the “Company”), a leading integrated and innovative global provider of specialty catalysts and services, today reported results for the first quarter ended March 31, 2023.
  • “During the first quarter of 2023, demand trends across the majority of end uses served by Ecovyst remained favorable, and we currently expect demand fundamentals to provide opportunities for growth on a full-year basis.
  • “As our first quarter 2023 financial results were in line with our internal expectations, our Adjusted EBITDA guidance for full-year 2023 remains unchanged.”
    Sales for the quarter ended March 31, 2023 were $160.9 million, compared to $179.7 million in the first quarter of 2022.
  • On Thursday, May 4, 2023, Ecovyst management will review the first quarter results during a conference call and audio-only webcast scheduled for 11:00 a.m. Eastern Time.

Porch Group Reports Fourth Quarter 2022 Results

Retrieved on: 
Tuesday, March 14, 2023

SEATTLE, March 14, 2023 (GLOBE NEWSWIRE) -- Porch Group, Inc. (“Porch Group” or “the Company”) (NASDAQ: PRCH), a leading vertical software company reinventing the home services and insurance industries, today reported fourth-quarter results for the Company as of December 31, 2022, with revenues of $64.1 million, compared to fourth-quarter 2021 revenues of $51.6 million. For the year ended December 31, 2022, Porch Group reported revenues of $275.9 million, compared to $192.4 million in 2021.

Key Points: 
  • Revenue less cost of revenue for the fourth quarter of 2022 was $43.9 million or 69% of total revenue, compared to $37.4 million or 73% of total revenue for the fourth quarter of 2021.
  • GAAP net loss for the fourth quarter of 2022 totaled $35.5 million, compared to a GAAP net loss of $20.1 million for the fourth quarter of 2021.
  • Adjusted EBITDA loss for the fourth quarter of 2022 totaled $13.3 million, compared to Adjusted EBITDA loss of $5.4 million for the fourth quarter of 2021.
  • Number of monetized services in quarter was 212,992 in the fourth quarter of 2022, a decrease from 267,6832 in the fourth quarter of 2021.

Voltus Exceeds Capacity Commitment to the PJM Interconnection During Winter Storm Elliott

Retrieved on: 
Wednesday, March 8, 2023

This performance represented additional critical demand relief to the grid beyond Voltus’s market commitment, helping to keep the heat and holiday lights on for millions of homes.

Key Points: 
  • This performance represented additional critical demand relief to the grid beyond Voltus’s market commitment, helping to keep the heat and holiday lights on for millions of homes.
  • The ELRP dispatch, the first since 2014, was an important step in helping to prevent rotating power outages across the entire PJM region.
  • PJM was missing approximately 57,000 MW of generation by the morning peak on December 24th as many traditional power plants struggled to perform during the cold weather .
  • “In total, and with the support of our technology, our customers provided 11.6 GWh of load relief across the US and Canada during Winter Storm Elliott, delivering dependable generator-scale capacity.