the all months. with today the work like of the and not XX full year of us Board, my in last everyone. to great appreciate and I'd joining and our good rest with for for fourth morning, and that Alvaro employee presentation. single Chairman me, the quarter Group the me thank the you, I'm We Thank Okay. of have we altogether present Avangrid rest Iberdrola results you done the and every present team
our customers, consumer representatives, remember analysts. also to regulators, legislators, investors, like I'd governors,
doing here and We all of that. of very proud are you serve to we are
move now think I slide to five. number let's
last on year, with adjusted that skepticism. an say adjusted excellence, almost now one worked uncertainty under basis. and deliver, when faced and financial focus or double-digit to the we increased Over growth has hopefully clear our and everything make even XX% principle challenges, team we sure our operational everything net we and year-over-year Through have accomplished income an on and delivered year-over-year objectives simple
respectively. compound net and grown income X% share EPS basis, growth have per to adjusted income EPS adjusted On an $X.XX strong XX% a grown rates at we XXXX, and our has X% $X.XX per grown Since annual share. share net has earnings XX%, and to of and per year-over-year year-over-year
exceeded we the share $X.XX consensus share year. the $X.XX In surpassed have the per from $X.XX XXXX of range and midpoint guidance of per to of quarter adjusted EPS, our first analyst the of
we billion Networks, $X.X by billion our to and grew invested base In billion. or X% $XX.X rate $X
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to to the execution, comes challenges, I is Let's what six. actions believe company solutions. that without page no no when on loudest, matters comes deliver turn to it speak industry most and our
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move working stakeholders other with the these and need them. projects can macro meet And and ensure forward our address inland with projects financing to we investment support our new are our in order pressures criteria on to
PPAs fully business. while Commonwealth Let committed our Wind, we for remain are terminating to clear, our me offshore we be
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wind and must prevent increases, from and the cap Wind Commonwealth is the forward table. investments of supply sharp price option on moving inflation, us we Avangrid viable Unfortunately, be given economic conditions. fully and the the committed existence to impact particularly the historic chain bottlenecks, disciplined rate Massachusetts, but investors, size of a of to interest always
these initiating means upcoming the over to we're address in to expect Wind, For issues. key regards we with this sections in City the the stakeholders repeat With Commonwealth, project Connecticut to solicitation. Park
filed we bridge XXX stronger cases and regulated building. filings, to plan all of discuss listen rate meetings engagement in in with our place relationship enhanced a we and we case stakeholders held the Ahead feedback. their had over and jurisdictions rate proposals and to our Regarding utilities, our our ensured
As will to lowest put New in proposals allow our strengthened this system we the rates the by to and forward England. while New companies among proactive critical respond engagement, needs, maintaining York
in working are rate new of accounts move largest going rates We base, York, hard effective cases will our May. which and the negotiations we actively rate from portion be to Settlement forward. our are for New anticipate
testimony Massachusetts, the we begin And case started already and process placed rate -- last in successfully week. to In the Connecticut new Maine, we settlement case [Indiscernible] hearings plan in closed filed and rebuttal we are discussions in rate rates place. shortly.
New Clean Energy received rulings our project. for from successes important brought favorable Connect, the main low also items. We critical England NECEC two court XXXX on
the legal to of resulted regarding referendum of in halting in First, main our NECEC. the challenges that August construction
in denied of the decision, motion is And that of upholding for court a a validity to project. lease public low reconsider issue lease second, November, now of its additionally our The small settled. section lands meaning the
continued which safe upgrade decision operation issued directing of and reliability regional month, the the of station, grid. Seabrook at breaker FERC England necessary the the New is Earlier a for the NECEC this
of working remaining legal to close the we fronts work multiple are matters, economic to project. ensure we As the viability on the
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critical skilled, a I CEO, highly driving to we Turning diverse, and areas. in put appointed slide was in place number multiple that is execution team seven. as stable management Since successful
delivering strong for consensus First, coming XXXX, performance and midpoint in guidance above initial of or above earnings the our well expectations.
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terminate to also for By the renegotiating solutions. offshore PPAs to onshore decisive We build advocating finally, by around Massachusetts, and caused misinformation implement in power. to unregulated addressing And customer combating control action generators, multiple took long-term PPAs, efforts wind nonviable company. government protect increases moving
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the adjusted that net course of or a year I'd net XX% in eight, rather years. highlight financial over to slide most respectively, like cultivated isolated product growth but over a we delivered of cases, quarters, income, have year-to-year. further you strong XX% performance and and have with XXXX, our growth we good XX% is over for In stream from an not of income that trend multiple in Since the
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satisfied results, We won't and just by performance but to-date. these are we with strong encouraged be very proud our
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slide on nine. Networks to Turning
focused meeting access operational across deliver customers, to our on reliable, energy clean serve. we and to while safe, are We service increasing states to is affordable which mandate, the
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years, harsh Over rose support XXXX as electric and the utilities frequent Avangrid for them, an the our intense more of of and was our the apart near challenge. and I'm seen proud a who exceptional our from field the effort to trend last both home. crews, response towards navigating well storms thousands storm Thanks delivered employees customers, as we to gas, to say and conditions, both exception. have
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exceeded In customers within customers Over nearly restored were most two CMP hardest hit, hours. where with York, half all day New power customers restored In two. virtually day by customer by day online had outages by were four. powers back CMP XX XXX,XXX, of Maine back every
we to but EEI. in do Elliott, and every we to after as course local These earned the not work faced the for our regulators the all of from XXXX stakeholders I'd just employees stepping of well-deserve like day. responding as their thank up over storms single commitment of and our well from to year efforts customers, in for the dozens recognition
we addition, the help customer on macroenvironment digitalization improved generation and to providing and support address the focused across rate enhance increases are and satisfaction, by pressures recent cost flow, increasing reduced cash current In costs, Northeast.
our X.X last year, the XX% by Over app mobile customers XXX,XXX increased downloads expanded EB million to program XX% and to by we've customers.
reliability officials healthy critical since with to resiliency We in assistance. growth, state collaborated reduce rate the XX% bill base [indiscernible] continue our We've investments make and XXXX. offer drive to also and and
funds approved help state low-income for issue customers, utility customer Phase the PSC and York, New provided RG&E. across To assistance. residential of phases targeting NECEC $XX address approximately million X, this in two
and NECEC to was will non-low expect in offer to small residential income approved $XX assistance and which Phase receive January, customers. RG&E in and approximately million businesses X,
CMP's February on the goals, in our PUC meeting return main points customer service consistently on XXX-basis adjustment removed equity. After performance the
to continuing advance capacity. are to lower-cost major in unlock we Lastly, clean investments transmission
As our obtained to mentioned critical few that court address NECEC last favorable resolve FERC from earlier, main or the over project. months, rulings and low materially we the challenges
and those position, now to closing or slide is utilities regulated energy, and previous this enhance our meet Successfully expand on service, year. of our affordable healthy rate priorities XX. one slide described cannot to objectives performance. clean to reliable, to our Turning Without access to safe, financial business our deliver the for secure top operational cases a
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local will requested have in billion of next focusing improving also capital we approval in which a over communities. transformation, jobs As create reliability, approximately to clean $XX the on years, reminder, service three resiliency, customers, for energy the our investments our and quality
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with the currently all In certain parties. New negotiations in middle are of we York,
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with part X our As process, of seeking multiyear to transmission also investments in are authorization portfolio. forward we move this Phase CLCPA
we this are and earlier May, testimony enter rebuttal preparing settlement In shortly. discussions month filed to
We effective were testimony expect In Connecticut, we in And last CMP's and in January. share filed July. new December hearings. in to and be rebuttal rates -- [Indiscernible], began week,
expect September. we UI, For new effective to in be rates
Renewables on to XX. business slide Turning our
the from First we With exchange inflation and to or and deliver the underway, of rate supply wind and fixed interest and components capped we see is pressures in financing XXX protected manufacturing large-scale Vineyard no Vineyard foreign hedge chain Wind labor X costs foremost, and X track on secured supply with park, first market. risk, Wind currently the all are Avangrid's country's fully project. offshore contracted megawatts
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of year, Wind expect we X. Midyear, possible. turbines. to to our to This have Massachusetts, And for from we country, proud our begin and plan the and Avangrid are first the significant of is by foundations we power it for a end for Vineyard the company, project make the delivered and installation
inland two We Commonwealth also advance continue and development to Park other of City the our new Wind. projects,
world, economic we to with make the challenges continuing federal the necessary As permits, impact and are environmental on the progress the address on the industry to collaborate around right we including statement. the across seen stakeholders the solutions
swiftly unnecessary that delays. efficiently, can This the event in project will and outcome, move ensure successful a that we reach with avoiding we forward this
and plays While not to XXXX-XXXX and prudent process City a in our outlook outlook. Commonwealth assumed our out, Park long-term Wind this we've have and taken conservative approach
essential bring in the value confident climate meeting have these and That that visionary objectives. region's being remain projects role said, know the they the England an we and New can to states energy clean in
our Turning onshore XX. now to slide operation on
managed market projects. first year, capacity, last megawatts our new environment we of large-scale the a deliver solar Over challenging XXX to including
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panels we we suppliers this Additionally, secure the with XXX constructing our successfully worked megawatts, are to with COD for year.
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risks. these main with pipeline several mitigate COD place have XXXX, the for in projects and needed in adds frameworks We equipment supply our near-term to certainty which in
expertise We're expansive also continuing value to and our development deploy to to and explore the green operational hydrogen, opportunities in to renewable business. leveraging footprint onshore
with the commercial out is projects, along building network of experienced partners. a team suppliers focused portfolio Our on and
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the As our to robust leveraging the we seeking the to pipeline, we by look onshore maximize created XX-gigawatt environment IRA. future, of value attractive to are
targeting improve than and optionality leveraging repowering, repower future and economics attractive of the create fleet half by and to our XXXX, through pursuing are generate growth. opportunities credits PTC to project We value of hydrogen more solar
Let's XX. turn to slide
been the Iberdrola creation Group, decades. on value and focused of leadership have part sustainable As for we
is part business position ESG+F profile. a our key of Our
ahead peers country lower in times cleaner emissions utility goals have future. US the an the the beating six and average to today of top the our lead set generation intensity operators mix, to us with and into renewable proud are robust to created than a We a well keep
Regarding our for the a carbon fleet. US first utility environmental Avangrid generation establish efforts, our was to in neutrality goal
would major we putting by expand Day, and other most Investor Scopes XXXX, goals last US of cover utilities. we -- us ahead neutrality to X our At announced X our almost
developing are Scope address strategy a We X. to also
the expanded more doubling component, our on social significantly focus of area. than in the We number this goals have
In of team, in women from to management up diversity made increasing improve to XX% the among important strides -- representation XXXX, on team to XX%, we our XXXX. up the
executive expect of increase to in to XX%. XXXX, By we further women positions presentation our
Black As we in consider we we History the have impact and that serve, our want commitment to the I that observing also communities acknowledge and recognition to Month.
activities community that our increase and our Excellence, and Council we own speakers, reach employees Through focused had their for that highlighted hosted and Avangrid, experiences, relationships celebrate external impact. African-American
the the to highest organization. our and business best actively work maintain across standards ethical We practices
As have by World's been Most XXXX. since a One of the Ethical named Ethisphere result, we Companies
Our makes all it focus on financial performance and possible. sustainability
we create growth delivered on XXXX, annual next both over value-driven In plan a to commitment applying disciplined healthy and and the our predictable earnings years. three
on closed nearly bonds, of to draw advantage $XXX including interest more lock rates. debt, delayed million we addition, in favorable In in $XXX a taking of green million
many to third-parties, Just Index. recognized S&P utilities third Avangrid list Equality which its including the a Avangrid recognized Sustainability continue and just to efforts Our its Yearbook by Just Gender one on Capital, in Bloomberg's row. in is US be year America's Most by XXXX for joined of Companies two the XXXX of named
financial now, to you. over turn And more on provide it to I results. Thank our will Patricia detail
