Avangrid, Inc. (NYSE:AGR) Q3 2023 Earnings Call Transcript

And from that point of view, when you work like this, I think the results come because there is nothing we have to take. We are proud of what we’re doing, but also we’re very objective on the needs that we have. So we have been able to solve many of the outstanding challenges that we had and clear the way for ’24. I insist a lot we were very clear last year that ’23 was a transition year. Again, we were trying to fix many things as much as we could. And I think we are being hopefully very successful in all of them or almost in all of them. But in this case, I think with the rate cases in New York and Maine, the termination of these two offshore projects, mainly NECEC, I’m very, very happy about how we are putting the right thing for the years to come.

I think still we have other things to be done. I think we have asset rotations I think we need to basically turn around the dynamics that we have right now in Connecticut. We need to make sure we complete Vineyard Wind 1 and NECEC on track, on time and on budget. I think — I’m very pleased about making sure we have a strong financial credit metrics, liquidity because that’s also important where sometimes you don’t get difficult. This is the moment to be. We’re just waited for the PNM decision by the Supreme Court. And also, we’re very keen also on developing and diversifying our talent. Talent continues to be critical, even when situations like the one with Patricia, she has to take a personal decision. As you can see, we are not for two months looking for anybody.

We have a decision that is taking the same day, because we have a very strong and ready succession plan. As a result, I would like also to comment that we believe we are very well positioned to fix issues and very well positioned for growth and the certainty in the opportunities ahead of us that we feel comfortable to generate long-term growth and continue building a better and more sustainable, any future not only for our company, but in general. So thank you. I think if we have any other questions, I know we’re going to have a follow-up with each of you separately. So please, Alvaro, I’ll let you now to deal with the further Q&A or so on. And everybody, have a great day.

Operator: Thank you. Ladies and gentlemen, that will conclude the Avangrid’s third quarter 2023 earnings conference call. Again, I’d like to thank you all so much for joining us and wish you all a great day. Good-bye.