Benzinga | Nov 3, 2021 10:10AM EDT

Avangrid Issues Statement On Results Of Maine Referendum

AVANGRID, Inc. (NYSE:AGR) has issued the following statement in response to the results of yesterday's state referendum in Maine.

"Despite support from the current and former Governors of Maine, the Biden administration, both major dailies in Maine and significant efforts highlighting the importance of the New England Clean Energy Connect (NECEC) project, the fossil fuel companies, who have spent millions on a misinformation campaign about the NECEC project, have won the vote on a citizens' initiative also known as Question 1.

"Yesterday's vote in Maine was a setback in our progress toward a clean, sustainable energy future for the state, the region, and for our nation which urgently needs to embrace clean energy solutions. The irony should not be lost that as global leaders are gathered in Glasgow to address climate change, selfish fossil fuel interests remain focused on their own profits and are willing to spend millions to block badly needed clean energy projects like the NECEC.

"While the outcome of this election is disappointing, it is not the end of the road and we will continue to advocate for this historic and important clean energy project. We have followed the rules every step of the way in a transparent and public process and have received every regulatory approval required for this project to proceed. Politicians and their supporters shouldn't be allowed to tear up valid contracts, ignore the judicial and executive branches and go back in time to retroactively change the rules to stop a project like the NECEC just because it threatens their political and financial interests.

"We thank our supporters and the 148,000 Mainers who voted in support of the NECEC project. The benefits to the state as well as the region are immense, and we look forward to delivering clean energy to the New England region and the people of Maine."