A total of fifty affiliates of AVANGRID Inc. (f/k/a Iberdrola USA, Inc.), most of them operators of power plants, on Jan. 14 filed a notice of change in status with the Federal Energy Regulatory Commission to reflect the Dec. 16 consummation of a deal in which AVANGRID indirectly acquired 100% of the ownership interests in The United Illuminating Co. and its parent UIL Holdings Corp.
AVANGRID also acquired in this same deal 50% of the ownership interests in GenConn Devon LLC, GenConn Energy LLC and GenConn Middletown LLC.
These fifty companies have been long associated with Iberdrola Renewables LLC, which is a direct wholly-owned subsidiary of Iberdrola Renewables Holdings Inc., which is a direct wholly-owned subsidiary of AVANGRID, a public utility holding company organized under the laws of the State of New York whose shares are publicly traded on the New York Stock Exchange under the symbol “AGR.” AVANGRID is a direct subsidiary of Iberdrola SA, a Spanish public utility holding company whose shares are publicly traded on the Madrid Stock Exchange.
Out of the fifty companies filing the joint notice of a change in status, only one is listed as a company with a prospective power project. Klamath Generation LLC, a direct, wholly-owned subsidiary of Iberdrola Renewables, is developing an approximately 550-MW natural gas-fired facility to be located in Klamath County, Oregon. The Klamath Generation facility will be located within the balancing authority area operated by the Bonneville Power Administration and interconnected with PacifiCorp’s transmission system. Klamath Generation does not own or control transmission facilities other than those limited and discrete facilities that will be necessary to interconnect the Klamath Generation facility to the transmission grid. Klamath Generation is authorized to sell energy and capacity in wholesale markets at market-based rates. The filing doesn’t give an in-service date for this project.
United Illuminating is a public utility organized and operated under the laws of the state of Connecticut. United Illuminating is engaged in the purchase, transmission, distribution, and sale of electricity for residential, commercial, and industrial purposes in a service area of approximately 335 square miles in the southwestern part of Connecticut.
United Illuminating owns a 2.8-MW fuel cell-powered generator in the New Haven, Conn., area, which became operational in August 2015, and another 5-MW (2.8 MW fuel cell-powered and 2.2 MW solar PV) generator in the Bridgeport, Conn., area, of which the fuel cell became operational in November 2015 and the solar PV is expected to become operational in February 2016. These generators will sell into the ISO-New England market.
Of the companies where AVANGRID bought 50% interests:
- GenConn Devon owns and operates a 187.6 MW (summer) dual fuel-fired peaking facility in Milford, Conn., which is in the Southwest Connecticut (SWCT) submarket of ISO-NE. GenConn Devon commenced commercial operations in June 2010.
- GenConn Middletown owns and operates a 187.6 MW (summer) dual fuel-fired peaking facility in Middletown, Conn., which is in the Connecticut Import interface (CT) submarket of ISO-NE. GenConn Middletown commenced commercial operations in June 2011.
- GenConn Energy acts as an agent for GenConn Devon and GenConn Middletown in the ISO-NE market. GenConn Energy is authorized to make wholesale sales of electric capacity, energy and ancillary services at market-based rates.
Each of GenConn Devon and GenConn Middletown are direct, wholly-owned subsidiaries of GenConn Energy. GenConn Energy is a direct, wholly-owned subsidiary of GCE Holding LLC. United Illuminating owns 50% of the equity interests in GCE Holding.
On March 25, 2015, these parties applied for FERC approval of this takeover by AVANGRID. The commission authorized the transaction on June 2, 2015, and it was subsequently completed on Dec. 16, 2015.