Iberdrola USA

Iberdrola USA (formerly Energy East), a subsidiary of Spanish energy company Iberdrola, S.A., is an energy services and delivery company serving about 2.7 million customers throughout upstate New York and New England, in the United States.

History

In 2007 Iberdrola agreed to purchase Energy East. The deal closed on September 17, 2008, valuing each Energy East share at $28.50. This represented a premium of 20.2% over the average share price for the 30 days prior to the offer announcement. On December 7, 2009, Iberdrola announced it was renaming the company as Iberdrola USA.

In November 2010, Iberdrola USA sold its gas distribution companies in Connecticut and Massachusetts, The Southern Connecticut Gas Company, Connecticut Natural Gas Corporation and The Berkshire Gas Company, to UIL Holdings Corporation.

In 2012, Iberdrola USA sold its energy services companies, Energetix and NYSEG Solutions, to Direct Energy.

In February 2015, Iberdrola USA announced that it had entered into a merger agreement with UIL Holdings Corporation under which UIL Holdings Corporation would merge into a subsidiary of Iberdrola USA, Inc.