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Iberdrola was named most sustainable Spanish utility and the third-most sustainable utility in the world this week by magazine Newsweek, citing the use of smart meters to help cut carbon emissions.

The awards committee of Newsweek’s Green Rankings 2014 ranked Iberdrola as one of the top three Spanish companies with the most respect for sustainable development and also commended the company for its efforts to reduce emissions, increase energy efficiency, and improve reporting on environmental progress.

Smart meters cut emissions

Bob Kump, chief executive officer of Iberdrola USA Networks, said: “These values are shared by Iberdrola subsidiaries around the world, especially here in the United States where our operating companies have long legacies of environmental stewardship.”

Mr Kump added: “In Maine, at Central Maine Power Company, for example, it’s reflected in the way we manage the vegetation in our corridors; our smart meters, which reduce our vehicle CO2 emissions by 1,400 tons annually and help consumers save energy; and our efforts to encourage wider use of electric vehicles by non-profit organisations, businesses, and municipal vehicle fleets.”

UK utilities rank higher

Centrica and National Grid, both headquartered in the UK, ranked first and second out of all the utilities list with a Newsweek GreenScores of 75.2 per cent and 60 per cent respectively.