The parent company of United Illuminating and Southern Connecticut Gas, which late last year completed a $3 billion merger with Iberdrola USA, reported $267 million in profits for 2015.
The figure includes full-year results from Iberdrola USA’s (now called Avangrid) handful of other utility subsidiaries in New York and Maine, but just two weeks of results from UIL’s subsidiaries.
As such, there is no comparable results for 2014, Avangrid said.
But the New Haven company, headed by former UIL CEO James Torgerson, projected 2016 consolidated earnings of $2 per share.
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UIL’s diluted earnings per share for 2014 were $1.92.
Avangrid said 2016 earnings drivers will include rate base growth, rates cases in New York and other factors.
