AVANGRID Will Pass Savings from 2017 Tax Reform to Customers

ORANGE, Conn.–(BUSINESS WIRE)–AVANGRID, Inc. (NYSE:AGR), a diversified U.S. energy company, today
issued the following statement regarding the impact of the 2017 tax
reform act.

AVANGRID’s regulated natural gas and electricity companies will pass
along to customers the full benefit of any tax savings that the
companies realize as a result of the 2017 federal tax reform act.

Among other changes, the tax reform act reduces the federal corporate
tax rate from 35 to 21 percent. As a matter of fairness, AVANGRID
believes that any resulting tax savings should be extended to customers.

AVANGRID and its companies look forward to working with regulatory
agencies to determine the best mechanism to accomplish this, and to
ensure it is done in a fair and responsible manner. We expect this to
happen via existing regulatory processes in the months ahead.

AVANGRID is the parent company of United Illuminating, Southern
Connecticut Gas and Connecticut Natural Gas in Connecticut; Central
Maine Power and Maine Natural Gas in Maine; Berkshire Gas in
Massachusetts; and New York State Electric & Gas and Rochester Gas &
Electric in New York.

About AVANGRID: AVANGRID, Inc. (NYSE:AGR) is a diversified energy
and utility company with approximately $32 billion in assets and
operations in 27 states. The company owns regulated utilities and
electricity generation assets through two primary lines of business,
Avangrid Networks and Avangrid Renewables. Avangrid Networks is
comprised of eight electric and natural gas utilities, serving
approximately 3.2 million customers in New York and New England.
Avangrid Renewables operates more than 6 gigawatts of owned and
controlled renewable generation capacity, primarily through wind and
solar, in 22 states across the United States. AVANGRID employs
approximately 6,800 people. For more information, visit www.avangrid.com.

Contacts

AVANGRID, Inc.
Michael A. West, Jr., 203-499-3858
[email protected]