Iberdrola USA is a Fortune 500

Fortune 500

The Fortune 500 is an annual list compiled and published by Fortune magazine that ranks the top 500 U.S. closely held and public corporations as ranked by their gross revenue after adjustments made by Fortune to exclude the impact of excise taxes companies collect. The list includes publicly and...

 company that serves 2.9 million public utility

Public utility

A public utility is an organization that maintains the infrastructure for a public service . Public utilities are subject to forms of public control and regulation ranging from local community-based groups to state-wide government monopolies...

 customers with energy, primarily electricity

Electricity

Electricity is a general term encompassing a variety of phenomena resulting from the presence and flow of electric charge. These include many easily recognizable phenomena, such as lightning, static electricity, and the flow of electrical current in an electrical wire...

 and natural gas

Natural gas

Natural gas is a naturally occurring gas mixture consisting primarily of methane, typically with 0–20% higher hydrocarbons . It is found associated with other hydrocarbon fuel, in coal beds, as methane clathrates, and is an important fuel source and a major feedstock for fertilizers.Most natural...

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History

In 2007 the Spanish electrical company Iberdrola

Iberdrola

Iberdrola , headquartered in Bilbao, is a private utility with a global footprint and over 150 years of experience...

 agreed to purchase Energy East. The deal closed on September 17, 2008, valuing each Energy East share at $28.50. This represents 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.

Subsidiaries

• Central Maine Power Company (CMP)
• NYSEG (New York State Electric and Gas Corporation; formerly NYSE&G)
• Rochester Gas and Electric (RGE)
• Utility Shared Services (USS) - Formed in 2003 to provide IT, HR, Purchasing, Finance, and Accounting services for the six regulated utilities.

Other ventures

• Central Maine Gas - a tiny natural gas company serving customers around Brunswick, ME
• Energetix! - an unregulated utility based in Rochester, NY
• New Hampshire Gas - a small propane/air utility in New Hampshire
  New Hampshire
  New Hampshire is a state in the New England region of the northeastern United States of America. The state was named after the southern English county of Hampshire. It is bordered by Massachusetts to the south, Vermont to the west, Maine and the Atlantic Ocean to the east, and the Canadian...