10-Q

	UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549
	FORM	10-Q
☒	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
	For the Quarterly Period Ended	June 30, 2024
	or
☐	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE      SECURITIES EXCHANGE ACT OF 1934
	For the transition period from ____________ to ____________

Registrant; State of Incorporation; Address; Telephone Number;

Commission File Number; and I.R.S. Employer Identification No.

EVERSOURCE ENERGY

(a Massachusetts voluntary association)

300 Cadwell Drive, Springfield, Massachusetts 01104

Telephone: (800) 286-5000

Commission File Number: 001-05324

I.R.S. Employer Identification No. 04-2147929

THE CONNECTICUT LIGHT AND POWER COMPANY

(a Connecticut corporation)

107 Selden Street, Berlin, Connecticut 06037-1616

Telephone: (800) 286-5000

Commission File Number: 000-00404

I.R.S. Employer Identification No. 06-0303850

NSTAR ELECTRIC COMPANY

(a Massachusetts corporation)

800 Boylston Street, Boston, Massachusetts 02199

Telephone: (800) 286-5000

Commission File Number: 001-02301

I.R.S. Employer Identification No. 04-1278810

PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE

(a New Hampshire corporation)

Energy Park

780 North Commercial Street, Manchester, New Hampshire 03101-1134

Telephone: (800) 286-5000

Commission File Number: 001-06392

I.R.S. Employer Identification No. 02-0181050

Securities registered pursuant to Section 12(b) of the Act:
Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Shares, $5.00 par value per share	ES	New York Stock Exchange

Indicate by check mark whether the registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days.

Yes	No
☒	☐

Indicate by check mark whether the registrants have submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrants were required to submit such files).

Yes	No
☒	☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Eversource Energy	Large accelerated filer	☒	Accelerated filer	☐	Non-accelerated filer	☐	Smaller reporting company	☐	Emerging growth company	☐
The Connecticut Light and Power Company	Large accelerated filer	☐	Accelerated filer	☐	Non-accelerated filer	☒	Smaller reporting company	☐	Emerging growth company	☐
NSTAR Electric Company	Large accelerated filer	☐	Accelerated filer	☐	Non-accelerated filer	☒	Smaller reporting company	☐	Emerging growth company	☐
Public Service Company of New Hampshire	Large accelerated filer	☐	Accelerated filer	☐	Non-accelerated filer	☒	Smaller reporting company	☐	Emerging growth company	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Indicate by check mark whether the registrants are shell companies (as defined in Rule 12b-2 of the Exchange Act):

	Yes	No
Eversource Energy	☐	☒
The Connecticut Light and Power Company	☐	☒
NSTAR Electric Company	☐	☒
Public Service Company of New Hampshire	☐	☒

Indicate the number of shares outstanding of each of the registrant's classes of common stock, as of the latest practicable date.

Company - Class of Stock	Outstanding as of July 31, 2024
Eversource Energy Common Shares, $5.00 par value	357,384,733	shares
The Connecticut Light and Power Company Common Stock, $10.00 par value	6,035,205	shares
NSTAR Electric Company Common Stock, $1.00 par value	200	shares
Public Service Company of New Hampshire Common Stock, $1.00 par value	301	shares

Eversource Energy holds all of the 6,035,205 shares, 200 shares, and 301 shares of the outstanding common stock of The Connecticut Light and Power Company, NSTAR Electric Company, and Public Service Company of New Hampshire, respectively.

The Connecticut Light and Power Company, NSTAR Electric Company and Public Service Company of New Hampshire each meet the conditions set forth in General Instruction H(1)(a) and (b) of Form 10-Q, and each is therefore filing this Form 10-Q with the reduced disclosure format specified in General Instruction H(2) of Form 10‑Q.

Eversource Energy, The Connecticut Light and Power Company, NSTAR Electric Company, and Public Service Company of New Hampshire each separately file this combined Form 10-Q.  Information contained herein relating to any individual registrant is filed by such registrant on its own behalf.  Each registrant makes no representation as to information relating to the other registrants.

GLOSSARY OF TERMS

The following is a glossary of abbreviations and acronyms that are found in this report:

Current or former Eversource Energy companies, segments or investments:
Eversource, ES or the Company	Eversource Energy and subsidiaries
Eversource parent or ES parent	Eversource Energy, a public utility holding company
ES parent and other companies	ES parent and other companies are comprised of Eversource parent, Eversource Service, and other subsidiaries, which primarily includes our unregulated businesses, HWP Company, The Rocky River Realty Company (a real estate subsidiary), the consolidated operations of CYAPC and YAEC, and Eversource parent's equity ownership interests that are not consolidated
CL&P	The Connecticut Light and Power Company
NSTAR Electric	NSTAR Electric Company
PSNH	Public Service Company of New Hampshire
PSNH Funding	PSNH Funding LLC 3, a bankruptcy remote, special purpose, wholly-owned subsidiary of PSNH
NSTAR Gas	NSTAR Gas Company
EGMA	Eversource Gas Company of Massachusetts
Yankee Gas	Yankee Gas Services Company
Aquarion	Aquarion Company and its subsidiaries
HEEC	Harbor Electric Energy Company, a wholly-owned subsidiary of NSTAR Electric
Eversource Service	Eversource Energy Service Company
North East Offshore	North East Offshore, LLC, an offshore wind business being developed jointly by Eversource and Denmark-based Ørsted
CYAPC	Connecticut Yankee Atomic Power Company
MYAPC	Maine Yankee Atomic Power Company
YAEC	Yankee Atomic Electric Company
Yankee Companies	CYAPC, YAEC and MYAPC
Regulated companies	The Eversource regulated companies are comprised of the electric distribution and transmission businesses of CL&P, NSTAR Electric and PSNH, the natural gas distribution businesses of Yankee Gas, NSTAR Gas and EGMA, Aquarion’s water distribution businesses, and the solar power facilities of NSTAR Electric
Regulators and Government Agencies:
BOEM	U.S. Bureau of Ocean Energy Management
DEEP	Connecticut Department of Energy and Environmental Protection
DOE	U.S. Department of Energy
DOER	Massachusetts Department of Energy Resources
DPU	Massachusetts Department of Public Utilities
EPA	U.S. Environmental Protection Agency
FERC	Federal Energy Regulatory Commission
ISO-NE	ISO New England, Inc., the New England Independent System Operator
MA DEP	Massachusetts Department of Environmental Protection
NHPUC	New Hampshire Public Utilities Commission
PURA	Connecticut Public Utilities Regulatory Authority
SEC	U.S. Securities and Exchange Commission
Other Terms and Abbreviations:
ADIT	Accumulated Deferred Income Taxes
AFUDC	Allowance For Funds Used During Construction
AOCI	Accumulated Other Comprehensive Income
ARO	Asset Retirement Obligation
Bcf	Billion cubic feet
CfD	Contract for Differences
CWIP	Construction Work in Progress
EDC	Electric distribution company
EDIT	Excess Deferred Income Taxes
EPS	Earnings Per Share
ERISA	Employee Retirement Income Security Act of 1974

i

ESOP	Employee Stock Ownership Plan
Eversource 2023 Form 10-K	The Eversource Energy and Subsidiaries 2023 combined Annual Report on Form 10-K as filed with the SEC
Fitch	Fitch Ratings, Inc.
FMCC	Federally Mandated Congestion Charge
GAAP	Accounting principles generally accepted in the United States of America
GSEP	Gas System Enhancement Program
GWh	Gigawatt-Hours
IPP	Independent Power Producers
ISO-NE Tariff	ISO-NE FERC Transmission, Markets and Services Tariff
kV	Kilovolt
kVa	Kilovolt-ampere
kW	Kilowatt (equal to one thousand watts)
LNG	Liquefied natural gas
LPG	Liquefied petroleum gas
LRS	Supplier of last resort service
MG	Million gallons
MGP	Manufactured Gas Plant
MMBtu	Million British thermal units
MMcf	Million cubic feet
Moody's	Moody's Investors Services, Inc.
MW	Megawatt
MWh	Megawatt-Hours
NETOs	New England Transmission Owners (including Eversource, National Grid and Avangrid)
OCI	Other Comprehensive Income/(Loss)
OREC	Offshore Wind Renewable Energy Certificate
PAM	Pension and PBOP Rate Adjustment Mechanism
PBOP	Postretirement Benefits Other Than Pension
PBOP Plan	Postretirement Benefits Other Than Pension Plan
Pension Plan	Single uniform noncontributory defined benefit retirement plan
PPA	Power purchase agreement
PPAM	Pole Plant Adjustment Mechanism
RECs	Renewable Energy Certificates
Regulatory ROE	The average cost of capital method for calculating the return on equity related to the distribution business segment excluding the wholesale transmission segment
ROE	Return on Equity
RRBs	Rate Reduction Bonds or Rate Reduction Certificates
RSUs	Restricted share units
S&P	Standard & Poor's Financial Services LLC
SERP	Supplemental Executive Retirement Plans and non-qualified defined benefit retirement plans
SS	Standard service
UI	The United Illuminating Company
VIE	Variable Interest Entity

ii

EVERSOURCE ENERGY AND SUBSIDIARIES   

THE CONNECTICUT LIGHT AND POWER COMPANY

NSTAR ELECTRIC COMPANY AND SUBSIDIARY

PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE AND SUBSIDIARIES

TABLE OF CONTENTS

		Page
PART I – FINANCIAL INFORMATION
ITEM 1.	Financial Statements (Unaudited)
	Eversource Energy and Subsidiaries (Unaudited)
	Condensed Consolidated Balance Sheets	1
	Condensed Consolidated Statements of Income	2
	Condensed Consolidated Statements of Comprehensive Income	2
	Condensed Consolidated Statements of Common Shareholders' Equity	3
	Condensed Consolidated Statements of Cash Flows	4
	The Connecticut Light and Power Company (Unaudited)
	Condensed Balance Sheets	5
	Condensed Statements of Income	6
	Condensed Statements of Comprehensive Income	6
	Condensed Statements of Common Stockholder's Equity	7
	Condensed Statements of Cash Flows	8
	NSTAR Electric Company and Subsidiary (Unaudited)
	Condensed Consolidated Balance Sheets	9
	Condensed Consolidated Statements of Income	10
	Condensed Consolidated Statements of Comprehensive Income	10
	Condensed Consolidated Statements of Common Stockholder's Equity	11
	Condensed Consolidated Statements of Cash Flows	12
	Public Service Company of New Hampshire and Subsidiaries (Unaudited)
	Condensed Consolidated Balance Sheets	13
	Condensed Consolidated Statements of Income	14
	Condensed Consolidated Statements of Comprehensive Income	14
	Condensed Consolidated Statements of Common Stockholder's Equity	15
	Condensed Consolidated Statements of Cash Flows	16
	Combined Notes to Condensed Financial Statements (Unaudited)	17
ITEM 2.	Management's Discussion and Analysis of Financial Condition and Results of Operations
	Eversource Energy and Subsidiaries	39
	The Connecticut Light and Power Company, NSTAR Electric Company and Subsidiary, and Public Service Company of New Hampshire and Subsidiaries	54
ITEM 3.	Quantitative and Qualitative Disclosures About Market Risk	58
ITEM 4.	Controls and Procedures	59
PART II – OTHER INFORMATION
ITEM 1.	Legal Proceedings	59
ITEM 1A.	Risk Factors	59
ITEM 2.	Unregistered Sales of Equity Securities and Use of Proceeds	59
ITEM 3.	Defaults Upon Senior Securities	59
ITEM 4.	Mine Safety Disclosures	59
ITEM 5.	Other Information	59
ITEM 6.	Exhibits	60
SIGNATURES		61

iii

EVERSOURCE ENERGY AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)

(Thousands of Dollars)	As of June 30, 2024		As of December 31, 2023
ASSETS
Current Assets:
Cash	$	33,381	$	53,873
Receivables, Net (net of allowance for uncollectible accounts of $579,582    and $554,455 as of June 30, 2024 and December 31, 2023, respectively)	1,473,255		1,431,531
Unbilled Revenues	196,710		225,325
Materials, Supplies, Natural Gas and REC Inventory	532,415		507,307
Regulatory Assets	2,071,652		1,674,196
Prepayments and Other Current Assets	365,209		355,762
Total Current Assets	4,672,622		4,247,994
Property, Plant and Equipment, Net	41,126,153		39,498,607
Deferred Debits and Other Assets:
Regulatory Assets	4,995,989		4,714,970
Goodwill	4,532,135		4,532,100
Investments in Unconsolidated Affiliates	949,037		660,473
Prepaid Pension and PBOP	1,101,017		1,028,207
Marketable Securities	331,730		337,814
Other Long-Term Assets	643,771		592,080
Total Deferred Debits and Other Assets	12,553,679		11,865,644
Total Assets	$	58,352,454	$	55,612,245
LIABILITIES AND CAPITALIZATION
Current Liabilities:
Notes Payable	$	1,401,600	$	1,930,422
Long-Term Debt – Current Portion	1,328,251		824,847
Rate Reduction Bonds – Current Portion	43,210		43,210
Accounts Payable	1,759,283		1,869,187
Accrued Interest	327,814		260,577
Regulatory Liabilities	652,291		591,750
Other Current Liabilities	740,700		821,404
Total Current Liabilities	6,253,149		6,341,397
Deferred Credits and Other Liabilities:
Accumulated Deferred Income Taxes	5,249,786		5,303,730
Regulatory Liabilities	4,092,811		4,022,923
Asset Retirement Obligations	508,733		505,844
Accrued Pension, SERP and PBOP	125,381		123,754
Other Long-Term Liabilities	966,558		1,029,238
Total Deferred Credits and Other Liabilities	10,943,269		10,985,489
Long-Term Debt	25,836,078		23,588,616
Rate Reduction Bonds	345,677		367,282
Noncontrolling Interest – Preferred Stock of Subsidiaries	155,568		155,569
Common Shareholders' Equity:
Common Shares	1,820,954		1,799,920
Capital Surplus, Paid In	8,710,844		8,460,876
Retained Earnings	4,496,830		4,142,515
Accumulated Other Comprehensive Loss	(29,581)		(33,737)
Treasury Stock	(180,334)		(195,682)
Common Shareholders' Equity	14,818,713		14,173,892
Commitments and Contingencies (Note 9)
Total Liabilities and Capitalization	$	58,352,454	$	55,612,245

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

1

EVERSOURCE ENERGY AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
(Thousands of Dollars, Except Share Information)	2024		2023		2024		2023
Operating Revenues	$	2,533,522	$	2,629,342	$	5,866,097	$	6,424,985
Operating Expenses:
Purchased Power, Purchased Natural Gas and    Transmission	841,431		1,161,067		2,077,387		3,064,313
Operations and Maintenance	464,424		427,290		927,388		881,852
Depreciation	354,591		319,995		694,505		632,949
Amortization	(114,137)		(218,422)		(116,462)		(294,481)
Energy Efficiency Programs	145,288		145,823		358,767		368,774
Taxes Other Than Income Taxes	239,427		232,927		476,042		461,344
Total Operating Expenses	1,931,024		2,068,680		4,417,627		5,114,751
Operating Income	602,498		560,662		1,448,470		1,310,234
Interest Expense	271,316		207,313		522,064		401,858
Impairment of Offshore Wind Investment	—		401,000		—		401,000
Other Income, Net	115,285		94,875		206,315		183,857
Income Before Income Tax Expense	446,467		47,224		1,132,721		691,233
Income Tax Expense	109,246		29,922		271,772		180,893
Net Income	337,221		17,302		860,949		510,340
Net Income Attributable to Noncontrolling Interests	1,880		1,880		3,759		3,759
Net Income Attributable to Common Shareholders	$	335,341	$	15,422	$	857,190	$	506,581
Basic Earnings Per Common Share	$	0.95	$	0.04	$	2.44	$	1.45
Diluted Earnings Per Common Share	$	0.95	$	0.04	$	2.43	$	1.45
Weighted Average Common Shares Outstanding:
Basic	353,212,378		349,462,359		351,964,747		349,339,752
Diluted	353,419,658		349,729,982		352,208,440		349,670,996

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(Unaudited)

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
(Thousands of Dollars)	2024		2023		2024		2023
Net Income	$	337,221	$	17,302	$	860,949	$	510,340
Other Comprehensive (Loss)/Income, Net of Tax:
Qualified Cash Flow Hedging Instruments	5		5		10		10
Changes in Unrealized Gains on Marketable    Securities	—		—		—		1,254
Changes in Funded Status of Pension, SERP and    PBOP Benefit Plans	(1,052)		4,083		4,146		6,054
Other Comprehensive (Loss)/Income, Net of Tax	(1,047)		4,088		4,156		7,318
Comprehensive Income Attributable to    Noncontrolling Interests	(1,880)		(1,880)		(3,759)		(3,759)
Comprehensive Income Attributable to Common    Shareholders	$	334,294	$	19,510	$	861,346	$	513,899

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

2

EVERSOURCE ENERGY AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF COMMON SHAREHOLDERS' EQUITY

(Unaudited)

	For the Six Months Ended June 30, 2024
	Common Shares			Capital Surplus, Paid In		Retained Earnings		Accumulated Other Comprehensive Loss		Treasury Stock		Total Common Shareholders' Equity
(Thousands of Dollars, Except Share Information)	Shares	Amount
Balance as of January 1, 2024	349,540,266	$	1,799,920	$	8,460,876	$	4,142,515	$	(33,737)	$	(195,682)	$	14,173,892
Net Income						523,728						523,728
Dividends on Common Shares - $0.715 Per Share						(250,770)						(250,770)
Dividends on Preferred Stock						(1,880)						(1,880)
Issuance of Common Shares - $5 par value	1,292,892	6,465		69,972								76,437
Long-Term Incentive Plan Activity				(22,405)								(22,405)
Issuance of Treasury Shares	546,256			30,190						10,235		40,425
Capital Stock Expense				(1,042)								(1,042)
Other Comprehensive Income								5,203				5,203
Balance as of March 31, 2024	351,379,414	1,806,385		8,537,591		4,413,593		(28,534)		(185,447)		14,543,588
Net Income						337,221						337,221
Dividends on Common Shares - $0.715 Per Share						(252,104)						(252,104)
Dividends on Preferred Stock						(1,880)						(1,880)
Issuance of Common Shares - $5 par value	2,913,757	14,569		160,088								174,657
Long-Term Incentive Plan Activity				4,245								4,245
Issuance of Treasury Shares	272,900			10,783						5,113		15,896
Capital Stock Expense				(1,863)								(1,863)
Other Comprehensive Loss								(1,047)				(1,047)
Balance as of June 30, 2024	354,566,071	$	1,820,954	$	8,710,844	$	4,496,830	$	(29,581)	$	(180,334)	$	14,818,713

	For the Six Months Ended June 30, 2023
	Common Shares			Capital Surplus, Paid In		Retained Earnings		Accumulated Other Comprehensive Loss		Treasury Stock		Total Common Shareholders' Equity
(Thousands of Dollars, Except Share Information)	Shares	Amount
Balance as of January 1, 2023	348,443,855	$	1,799,920	$	8,401,731	$	5,527,153	$	(39,421)	$	(216,225)	$	15,473,158
Net Income						493,039						493,039
Dividends on Common Shares - $0.675 Per Share						(235,354)						(235,354)
Dividends on Preferred Stock						(1,880)						(1,880)
Long-Term Incentive Plan Activity				(13,141)								(13,141)
Issuance of Treasury Shares	364,227			23,495						6,824		30,319
Other Comprehensive Income								3,230				3,230
Balance as of March 31, 2023	348,808,082	1,799,920		8,412,085		5,782,958		(36,191)		(209,401)		15,749,371
Net Income						17,302						17,302
Dividends on Common Shares - $0.675 Per Share						(235,491)						(235,491)
Dividends on Preferred Stock						(1,880)						(1,880)
Long-Term Incentive Plan Activity				5,155								5,155
Issuance of Treasury Shares	213,854			11,546						4,007		15,553
Other Comprehensive Income								4,088				4,088
Balance as of June 30, 2023	349,021,936	$	1,799,920	$	8,428,786	$	5,562,889	$	(32,103)	$	(205,394)	$	15,554,098

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

3

EVERSOURCE ENERGY AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

	For the Six Months Ended June 30,
(Thousands of Dollars)	2024		2023
Operating Activities:
Net Income	$	860,949	$	510,340
Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities:
Depreciation	694,505		632,949
Deferred Income Taxes	297,901		155,035
Uncollectible Expense	26,279		24,171
Pension, SERP and PBOP Income, Net	(35,719)		(46,600)
Pension Contributions	(2,500)		(2,400)
Regulatory Under Recoveries, Net	(383,152)		(112,050)
Amortization	(116,462)		(294,481)
Cost of Removal Expenditures	(113,024)		(183,552)
Impairment of Offshore Wind Investment	—		401,000
Other	(99,544)		(13,423)
Changes in Current Assets and Liabilities:
Receivables and Unbilled Revenues, Net	(95,839)		137,819
Taxes Receivable/Accrued, Net	41,275		49,201
Accounts Payable	(82,355)		(489,132)
Other Current Assets and Liabilities, Net	(30,288)		(121,600)
Net Cash Flows Provided by Operating Activities	962,026		647,277
Investing Activities:
Investments in Property, Plant and Equipment	(2,220,917)		(2,039,512)
Proceeds from Sales of Marketable Securities	91,437		215,570
Purchases of Marketable Securities	(83,502)		(194,786)
Investments in Unconsolidated Affiliates	(729,354)		(390,002)
Other Investing Activities	11,355		11,055
Net Cash Flows Used in Investing Activities	(2,930,981)		(2,397,675)
Financing Activities:
Issuance of Common Shares, Net of Issuance Costs	248,189		—
Cash Dividends on Common Shares	(490,910)		(458,959)
Cash Dividends on Preferred Stock	(3,759)		(3,759)
Decrease in Notes Payable	(698,252)		(589,200)
Repayment of Rate Reduction Bonds	(21,605)		(21,605)
Issuance of Long-Term Debt	3,850,000		3,361,000
Retirement of Long-Term Debt	(900,000)		(853,000)
Other Financing Activities	(48,493)		(27,839)
Net Cash Flows Provided by Financing Activities	1,935,170		1,406,638
Net Decrease in Cash and Restricted Cash	(33,785)		(343,760)
Cash and Restricted Cash - Beginning of Period	166,418		521,752
Cash and Restricted Cash - End of Period	$	132,633	$	177,992

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

4

THE CONNECTICUT LIGHT AND POWER COMPANY

CONDENSED BALANCE SHEETS

(Unaudited)

(Thousands of Dollars)	As of June 30, 2024		As of December 31, 2023
ASSETS
Current Assets:
Cash	$	—	$	10,213
Receivables, Net (net of allowance for uncollectible accounts of $308,586 and    $296,030 as of June 30, 2024 and December 31, 2023, respectively)	586,542		558,993
Accounts Receivable from Affiliated Companies	43,052		60,450
Unbilled Revenues	58,505		57,403
Materials, Supplies and REC Inventory	192,600		156,467
Regulatory Assets	860,776		480,369
Prepayments and Other Current Assets	56,444		94,789
Total Current Assets	1,797,919		1,418,684
Property, Plant and Equipment, Net	12,688,615		12,340,192
Deferred Debits and Other Assets:
Regulatory Assets	1,731,870		1,662,778
Prepaid Pension and PBOP	136,231		129,801
Other Long-Term Assets	329,433		298,169
Total Deferred Debits and Other Assets	2,197,534		2,090,748
Total Assets	$	16,684,068	$	15,849,624
LIABILITIES AND CAPITALIZATION
Current Liabilities:
Notes Payable to Eversource Parent	$	407,800	$	249,670
Long-Term Debt – Current Portion	139,845		—
Accounts Payable	586,253		622,055
Accounts Payable to Affiliated Companies	96,302		134,726
Obligations to Third Party Suppliers	67,364		75,753
Regulatory Liabilities	133,305		102,239
Derivative Liabilities	77,391		81,944
Other Current Liabilities	166,144		127,703
Total Current Liabilities	1,674,404		1,394,090
Deferred Credits and Other Liabilities:
Accumulated Deferred Income Taxes	2,024,055		1,860,122
Regulatory Liabilities	1,351,877		1,315,928
Other Long-Term Liabilities	227,921		258,185
Total Deferred Credits and Other Liabilities	3,603,853		3,434,235
Long-Term Debt	4,814,280		4,814,429
Preferred Stock Not Subject to Mandatory Redemption	116,200		116,200
Common Stockholder's Equity:
Common Stock	60,352		60,352
Capital Surplus, Paid In	3,584,265		3,384,265
Retained Earnings	2,830,542		2,645,868
Accumulated Other Comprehensive Income	172		185
Common Stockholder's Equity	6,475,331		6,090,670
Commitments and Contingencies (Note 9)
Total Liabilities and Capitalization	$	16,684,068	$	15,849,624

The accompanying notes are an integral part of these unaudited condensed financial statements.

5

THE CONNECTICUT LIGHT AND POWER COMPANY

CONDENSED STATEMENTS OF INCOME

(Unaudited)

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
(Thousands of Dollars)	2024		2023		2024		2023
Operating Revenues	$	964,623	$	1,034,148	$	2,085,914	$	2,373,054
Operating Expenses:
Purchased Power and Transmission	480,426		626,411		1,046,423		1,476,976
Operations and Maintenance	197,445		166,566		384,209		326,882
Depreciation	100,411		93,652		198,856		185,889
Amortization of Regulatory Liabilities, Net	(155,031)		(189,922)		(246,744)		(312,236)
Energy Efficiency Programs	31,540		28,137		67,140		60,783
Taxes Other Than Income Taxes	96,393		94,602		200,193		196,184
Total Operating Expenses	751,184		819,446		1,650,077		1,934,478
Operating Income	213,439		214,702		435,837		438,576
Interest Expense	61,894		47,771		116,718		92,972
Other Income, Net	22,977		13,362		39,445		28,299
Income Before Income Tax Expense	174,522		180,293		358,564		373,903
Income Tax Expense	42,921		46,993		88,610		92,187
Net Income	$	131,601	$	133,300	$	269,954	$	281,716

The accompanying notes are an integral part of these unaudited condensed financial statements.

CONDENSED STATEMENTS OF COMPREHENSIVE INCOME

(Unaudited)

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
(Thousands of Dollars)	2024		2023		2024		2023
Net Income	$	131,601	$	133,300	$	269,954	$	281,716
Other Comprehensive (Loss)/Income, Net of Tax:
Qualified Cash Flow Hedging Instruments	(6)		(7)		(13)		(14)
Changes in Unrealized Gains on Marketable    Securities	—		—		—		43
Other Comprehensive (Loss)/Income, Net of Tax	(6)		(7)		(13)		29
Comprehensive Income	$	131,595	$	133,293	$	269,941	$	281,745

The accompanying notes are an integral part of these unaudited condensed financial statements.

6

THE CONNECTICUT LIGHT AND POWER COMPANY

CONDENSED STATEMENTS OF COMMON STOCKHOLDER'S EQUITY

(Unaudited)

	For the Six Months Ended June 30, 2024
	Common Stock			Capital Surplus, Paid In		Retained Earnings		Accumulated Other Comprehensive Income		Total Common Stockholder's Equity
(Thousands of Dollars, Except Stock Information)	Stock	Amount
Balance as of January 1, 2024	6,035,205	$	60,352	$	3,384,265	$	2,645,868	$	185	$	6,090,670
Net Income						138,353				138,353
Dividends on Preferred Stock						(1,390)				(1,390)
Dividends on Common Stock						(82,500)				(82,500)
Capital Contributions from Eversource Parent				100,000						100,000
Other Comprehensive Loss								(7)		(7)
Balance as of March 31, 2024	6,035,205	60,352		3,484,265		2,700,331		178		6,245,126
Net Income						131,601				131,601
Dividends on Preferred Stock						(1,390)				(1,390)
Capital Contributions from Eversource Parent				100,000						100,000
Other Comprehensive Loss								(6)		(6)
Balance as of June 30, 2024	6,035,205	$	60,352	$	3,584,265	$	2,830,542	$	172	$	6,475,331

	For the Six Months Ended June 30, 2023
	Common Stock			Capital Surplus, Paid In		Retained Earnings		Accumulated Other Comprehensive Income		Total Common Stockholder's Equity
(Thousands of Dollars, Except Stock Information)	Stock	Amount
Balance as of January 1, 2023	6,035,205	$	60,352	$	3,260,765	$	2,463,094	$	169	$	5,784,380
Net Income						148,416				148,416
Dividends on Preferred Stock						(1,390)				(1,390)
Dividends on Common Stock						(82,600)				(82,600)
Other Comprehensive Income								36		36
Balance as of March 31, 2023	6,035,205	60,352		3,260,765		2,527,520		205		5,848,842
Net Income						133,300				133,300
Dividends on Preferred Stock						(1,390)				(1,390)
Dividends on Common Stock						(82,600)				(82,600)
Other Comprehensive Loss								(7)		(7)
Balance as of June 30, 2023	6,035,205	$	60,352	$	3,260,765	$	2,576,830	$	198	$	5,898,145

The accompanying notes are an integral part of these unaudited condensed financial statements.

7

THE CONNECTICUT LIGHT AND POWER COMPANY

CONDENSED STATEMENTS OF CASH FLOWS

(Unaudited)

	For the Six Months Ended June 30,
(Thousands of Dollars)	2024		2023
Operating Activities:
Net Income	$	269,954	$	281,716
Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities:
Depreciation	198,856		185,889
Deferred Income Taxes	146,839		105,162
Uncollectible Expense	6,326		4,750
Pension, SERP, and PBOP Income, Net	(6,379)		(9,083)
Regulatory (Under)/Over Recoveries, Net	(117,569)		39,524
Amortization of Regulatory Liabilities, Net	(246,744)		(312,236)
Cost of Removal Expenditures	(32,317)		(36,781)
Other	(42,305)		(34,571)
Changes in Current Assets and Liabilities:
Receivables and Unbilled Revenues, Net	(53,861)		20,542
Taxes Receivable/Accrued, Net	83,731		132,751
Accounts Payable	(54,887)		(251,326)
Other Current Assets and Liabilities, Net	(41,887)		2,711
Net Cash Flows Provided by Operating Activities	109,757		129,048
Investing Activities:
Investments in Property, Plant and Equipment	(532,235)		(499,920)
Other Investing Activities	—		173
Net Cash Flows Used in Investing Activities	(532,235)		(499,747)
Financing Activities:
Cash Dividends on Common Stock	(82,500)		(165,200)
Cash Dividends on Preferred Stock	(2,779)		(2,779)
Capital Contributions from Eversource Parent	200,000		—
Issuance of Long-Term Debt	350,000		500,000
Retirement of Long-Term Debt	—		(400,000)
(Decrease)/Increase in Notes Payable to Eversource Parent	(49,200)		449,000
Other Financing Activities	(4,218)		(6,521)
Net Cash Flows Provided by Financing Activities	411,303		374,500
Net (Decrease)/Increase in Cash and Restricted Cash	(11,175)		3,801
Cash and Restricted Cash - Beginning of Period	12,243		20,327
Cash and Restricted Cash - End of Period	$	1,068	$	24,128

The accompanying notes are an integral part of these unaudited condensed financial statements.

8

NSTAR ELECTRIC COMPANY AND SUBSIDIARY

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)

(Thousands of Dollars)	As of June 30, 2024		As of December 31, 2023
ASSETS
Current Assets:
Cash	$	2,730	$	6,740
Receivables, Net (net of allowance for uncollectible accounts of $106,174 and    $97,026 as of June 30, 2024 and December 31, 2023, respectively)	490,160		487,707
Accounts Receivable from Affiliated Companies	103,877		74,634
Unbilled Revenues	62,319		49,897
Materials, Supplies and REC Inventory	166,717		173,770
Regulatory Assets	757,447		676,083
Prepayments and Other Current Assets	37,050		41,464
Total Current Assets	1,620,300		1,510,295
Property, Plant and Equipment, Net	13,322,862		12,753,787
Deferred Debits and Other Assets:
Regulatory Assets	1,305,490		1,281,836
Prepaid Pension and PBOP	654,183		608,617
Other Long-Term Assets	130,839		116,978
Total Deferred Debits and Other Assets	2,090,512		2,007,431
Total Assets	$	17,033,674	$	16,271,513
LIABILITIES AND CAPITALIZATION
Current Liabilities:
Notes Payable	$	236,500	$	365,847
Accounts Payable	483,571		599,696
Accounts Payable to Affiliated Companies	132,079		144,622
Obligations to Third Party Suppliers	232,608		139,823
Renewable Portfolio Standards Compliance Obligations	70,689		116,010
Regulatory Liabilities	413,492		368,070
Other Current Liabilities	75,516		84,688
Total Current Liabilities	1,644,455		1,818,756
Deferred Credits and Other Liabilities:
Accumulated Deferred Income Taxes	1,925,079		1,849,613
Regulatory Liabilities	1,619,614		1,585,311
Other Long-Term Liabilities	335,403		327,388
Total Deferred Credits and Other Liabilities	3,880,096		3,762,312
Long-Term Debt	5,092,959		4,496,947
Preferred Stock Not Subject to Mandatory Redemption	43,000		43,000
Common Stockholder's Equity:
Common Stock	—		—
Capital Surplus, Paid In	3,313,842		3,013,842
Retained Earnings	3,059,312		3,136,612
Accumulated Other Comprehensive Income	10		44
Common Stockholder's Equity	6,373,164		6,150,498
Commitments and Contingencies (Note 9)
Total Liabilities and Capitalization	$	17,033,674	$	16,271,513

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

9

NSTAR ELECTRIC COMPANY AND SUBSIDIARY

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
(Thousands of Dollars)	2024		2023		2024		2023
Operating Revenues	$	845,068	$	818,968	$	1,792,683	$	1,775,251
Operating Expenses:
Purchased Power and Transmission	209,348		266,560		482,653		627,485
Operations and Maintenance	163,580		146,852		337,252		312,935
Depreciation	100,286		92,863		197,208		183,292
Amortization of Regulatory Assets/(Liabilities), Net	21,236		(1,400)		69,627		21,385
Energy Efficiency Programs	66,662		70,687		148,962		156,904
Taxes Other Than Income Taxes	71,049		66,232		131,061		119,743
Total Operating Expenses	632,161		641,794		1,366,763		1,421,744
Operating Income	212,907		177,174		425,920		353,507
Interest Expense	54,689		46,761		104,113		91,626
Other Income, Net	48,421		40,909		95,536		80,782
Income Before Income Tax Expense	206,639		171,322		417,343		342,663
Income Tax Expense	49,036		36,579		99,763		74,107
Net Income	$	157,603	$	134,743	$	317,580	$	268,556

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(Unaudited)

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
(Thousands of Dollars)	2024		2023		2024		2023
Net Income	$	157,603	$	134,743	$	317,580	$	268,556
Other Comprehensive Loss, Net of Tax:
Changes in Funded Status of SERP Benefit Plan	(23)		(32)		(44)		(65)
Qualified Cash Flow Hedging Instruments	5		5		10		10
Changes in Unrealized Gains on Marketable    Securities	—		—		—		12
Other Comprehensive Loss, Net of Tax	(18)		(27)		(34)		(43)
Comprehensive Income	$	157,585	$	134,716	$	317,546	$	268,513

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

10

NSTAR ELECTRIC COMPANY AND SUBSIDIARY

CONDENSED CONSOLIDATED STATEMENTS OF COMMON STOCKHOLDER'S EQUITY

(Unaudited)

	For the Six Months Ended June 30, 2024
	Common Stock			Capital Surplus, Paid In		Retained Earnings		Accumulated Other Comprehensive Income		Total Common Stockholder's Equity
(Thousands of Dollars, Except Stock Information)	Stock	Amount
Balance as of January 1, 2024	200	$	—	$	3,013,842	$	3,136,612	$	44	$	6,150,498
Net Income						159,977				159,977
Dividends on Preferred Stock						(490)				(490)
Dividends on Common Stock						(96,700)				(96,700)
Capital Contributions from Eversource Parent				300,000						300,000
Other Comprehensive Loss								(16)		(16)
Balance as of March 31, 2024	200	—		3,313,842		3,199,399		28		6,513,269
Net Income						157,603				157,603
Dividends on Preferred Stock						(490)				(490)
Dividends on Common Stock						(297,200)				(297,200)
Other Comprehensive Loss								(18)		(18)
Balance as of June 30, 2024	200	$	—	$	3,313,842	$	3,059,312	$	10	$	6,373,164

	For the Six Months Ended June 30, 2023
	Common Stock			Capital Surplus, Paid In		Retained Earnings		Accumulated Other Comprehensive Income		Total Common Stockholder's Equity
(Thousands of Dollars, Except Stock Information)	Stock	Amount
Balance as of January 1, 2023	200	$	—	$	2,778,942	$	2,921,444	$	284	$	5,700,670
Net Income						133,813				133,813
Dividends on Preferred Stock						(490)				(490)
Dividends on Common Stock						(327,400)				(327,400)
Capital Contributions from Eversource Parent				31,300						31,300
Other Comprehensive Loss								(16)		(16)
Balance as of March 31, 2023	200	—		2,810,242		2,727,367		268		5,537,877
Net Income						134,743				134,743
Dividends on Preferred Stock						(490)				(490)
Capital Contributions from Eversource Parent				81,000						81,000
Other Comprehensive Loss								(27)		(27)
Balance as of June 30, 2023	200	$	—	$	2,891,242	$	2,861,620	$	241	$	5,753,103

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

11

NSTAR ELECTRIC COMPANY AND SUBSIDIARY

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

	For the Six Months Ended June 30,
(Thousands of Dollars)	2024		2023
Operating Activities:
Net Income	$	317,580	$	268,556
Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities:
Depreciation	197,208		183,292
Deferred Income Taxes	54,640		66,926
Uncollectible Expense	12,007		7,759
Pension, SERP and PBOP Income, Net	(18,003)		(20,460)
Regulatory Under Recoveries, Net	(157,521)		(126,487)
Amortization of Regulatory Assets, Net	69,627		21,385
Cost of Removal Expenditures	(22,832)		(33,750)
Other	(27,840)		(12,211)
Changes in Current Assets and Liabilities:
Receivables and Unbilled Revenues, Net	(41,197)		(9,745)
Taxes Receivable/Accrued, Net	(5,328)		28,662
Accounts Payable	(77,371)		(68,720)
Other Current Assets and Liabilities, Net	40,403		(71,745)
Net Cash Flows Provided by Operating Activities	341,373		233,462
Investing Activities:
Investments in Property, Plant and Equipment	(729,758)		(677,596)
Other Investing Activities	—		48
Net Cash Flows Used in Investing Activities	(729,758)		(677,548)
Financing Activities:
Cash Dividends on Common Stock	(393,900)		(327,400)
Cash Dividends on Preferred Stock	(980)		(980)
Issuance of Long-Term Debt	600,000		—
Capital Contributions from Eversource Parent	300,000		112,300
(Decrease)/Increase in Notes Payable	(129,347)		324,000
Other Financing Activities	(6,081)		8
Net Cash Flows Provided by Financing Activities	369,692		107,928
Net Decrease in Cash and Restricted Cash	(18,693)		(336,158)
Cash and Restricted Cash - Beginning of Period	22,785		345,293
Cash and Restricted Cash - End of Period	$	4,092	$	9,135

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

12

PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)

(Thousands of Dollars)	As of June 30, 2024		As of December 31, 2023
ASSETS
Current Assets:
Cash	$	252	$	240
Receivables, Net (net of allowance for uncollectible accounts of $14,135 and $14,322    as of June 30, 2024 and December 31, 2023, respectively)	155,242		152,276
Accounts Receivable from Affiliated Companies	15,226		18,214
Unbilled Revenues	49,398		55,012
Taxes Receivable	38,220		27,146
Materials, Supplies and REC Inventory	81,032		77,066
Regulatory Assets	175,003		189,450
Special Deposits	30,651		31,586
Prepayments	23,456		18,489
Total Current Assets	568,480		569,479
Property, Plant and Equipment, Net	4,833,400		4,574,652
Deferred Debits and Other Assets:
Regulatory Assets	922,613		773,783
Prepaid Pension and PBOP	64,530		58,979
Other Long-Term Assets	19,383		16,558
Total Deferred Debits and Other Assets	1,006,526		849,320
Total Assets	$	6,408,406	$	5,993,451
LIABILITIES AND CAPITALIZATION
Current Liabilities:
Notes Payable to Eversource Parent	$	132,000	$	233,000
Rate Reduction Bonds – Current Portion	43,210		43,210
Accounts Payable	288,517		205,744
Accounts Payable to Affiliated Companies	33,835		41,272
Regulatory Liabilities	79,112		117,515
Other Current Liabilities	73,148		72,328
Total Current Liabilities	649,822		713,069
Deferred Credits and Other Liabilities:
Accumulated Deferred Income Taxes	758,015		691,532
Regulatory Liabilities	392,184		393,574
Other Long-Term Liabilities	39,528		42,484
Total Deferred Credits and Other Liabilities	1,189,727		1,127,590
Long-Term Debt	1,731,461		1,431,591
Rate Reduction Bonds	345,677		367,282
Common Stockholder's Equity:
Common Stock	—		—
Capital Surplus, Paid In	1,798,134		1,698,134
Retained Earnings	693,585		655,785
Common Stockholder's Equity	2,491,719		2,353,919
Commitments and Contingencies (Note 9)
Total Liabilities and Capitalization	$	6,408,406	$	5,993,451

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

13

PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
(Thousands of Dollars)	2024		2023		2024		2023
Operating Revenues	$	287,311	$	350,070	$	613,427	$	770,225
Operating Expenses:
Purchased Power and Transmission	36,995		144,829		124,933		371,514
Operations and Maintenance	69,643		64,503		138,355		132,298
Depreciation	38,127		34,702		75,536		68,790
Amortization of Regulatory Assets/(Liabilities), Net	28,729		(19,954)		49,993		(25,271)
Energy Efficiency Programs	9,695		9,149		20,871		19,376
Taxes Other Than Income Taxes	24,465		25,531		47,780		47,636
Total Operating Expenses	207,654		258,760		457,468		614,343
Operating Income	79,657		91,310		155,959		155,882
Interest Expense	20,259		19,106		39,453		36,649
Other Income, Net	7,772		6,301		14,822		12,019
Income Before Income Tax Expense	67,170		78,505		131,328		131,252
Income Tax Expense	15,726		18,143		31,528		30,594
Net Income	$	51,444	$	60,362	$	99,800	$	100,658

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(Unaudited)

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
(Thousands of Dollars)	2024		2023		2024		2023
Net Income	$	51,444	$	60,362	$	99,800	$	100,658
Other Comprehensive Income, Net of Tax:
Changes in Unrealized Gains on Marketable    Securities	—		—		—		73
Other Comprehensive Income, Net of Tax	—		—		—		73
Comprehensive Income	$	51,444	$	60,362	$	99,800	$	100,731

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

14

PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF COMMON STOCKHOLDER'S EQUITY

(Unaudited)

	For the Six Months Ended June 30, 2024
	Common Stock			Capital Surplus, Paid In		Retained Earnings		Accumulated Other Comprehensive Loss		Total Common Stockholder's Equity
(Thousands of Dollars, Except Stock Information)	Stock	Amount
Balance as of January 1, 2024	301	$	—	$	1,698,134	$	655,785	$	—	$	2,353,919
Net Income						48,356				48,356
Capital Contributions from Eversource Parent				100,000						100,000
Balance as of March 31, 2024	301	—		1,798,134		704,141		—		2,502,275
Net Income						51,444				51,444
Dividends on Common Stock						(62,000)				(62,000)
Balance as of June 30, 2024	301	$	—	$	1,798,134	$	693,585	$	—	$	2,491,719

	For the Six Months Ended June 30, 2023
	Common Stock			Capital Surplus, Paid In		Retained Earnings		Accumulated Other Comprehensive Loss		Total Common Stockholder's Equity
(Thousands of Dollars, Except Stock Information)	Stock	Amount
Balance as of January 1, 2023	301	$	—	$	1,298,134	$	572,126	$	(73)	$	1,870,187
Net Income						40,296				40,296
Dividends on Common Stock						(28,000)				(28,000)
Other Comprehensive Income								73		73
Balance as of March 31, 2023	301	—		1,298,134		584,422		—		1,882,556
Net Income						60,362				60,362
Dividends on Common Stock						(28,000)				(28,000)
Capital Contributions from Eversource Parent				100,000						100,000
Balance as of June 30, 2023	301	$	—	$	1,398,134	$	616,784	$	—	$	2,014,918

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

15

PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

	For the Six Months Ended June 30,
(Thousands of Dollars)	2024		2023
Operating Activities:
Net Income	$	99,800	$	100,658
Adjustments to Reconcile Net Income to Net Cash Flows Provided by/(Used In)   Operating Activities:
Depreciation	75,536		68,790
Deferred Income Taxes	64,545		89,761
Uncollectible Expense	2,178		(451)
Pension, SERP and PBOP Income, Net	(4,469)		(5,197)
Regulatory Under Recoveries, Net	(167,077)		(244,668)
Amortization of Regulatory Assets/(Liabilities), Net	49,993		(25,271)
Cost of Removal Expenditures	(20,358)		(15,678)
Other	(2,691)		3,896
Changes in Current Assets and Liabilities:
Receivables and Unbilled Revenues, Net	1,916		12,223
Taxes Receivable/Accrued, Net	(11,045)		4,357
Accounts Payable	(3,697)		(45,255)
Other Current Assets and Liabilities, Net	(8,142)		(35,773)
Net Cash Flows Provided by/(Used In) Operating Activities	76,489		(92,608)
Investing Activities:
Investments in Property, Plant and Equipment	(289,667)		(276,676)
Other Investing Activities	—		296
Net Cash Flows Used in Investing Activities	(289,667)		(276,380)
Financing Activities:
Cash Dividends on Common Stock	(62,000)		(56,000)
Capital Contributions from Eversource Parent	100,000		100,000
Issuance of Long-Term Debt	300,000		300,000
Repayment of Rate Reduction Bonds	(21,605)		(21,605)
(Decrease)/Increase in Notes Payable to Eversource Parent	(101,000)		53,000
Other Financing Activities	(3,140)		(5,460)
Net Cash Flows Provided by Financing Activities	212,255		369,935
Net (Decrease)/Increase in Cash and Restricted Cash	(923)		947
Cash and Restricted Cash - Beginning of Period	35,004		36,812
Cash and Restricted Cash - End of Period	$	34,081	$	37,759

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

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EVERSOURCE ENERGY AND SUBSIDIARIES

THE CONNECTICUT LIGHT AND POWER COMPANY

NSTAR ELECTRIC COMPANY AND SUBSIDIARY

PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE AND SUBSIDIARIES

COMBINED NOTES TO CONDENSED FINANCIAL STATEMENTS (Unaudited)

Refer to the Glossary of Terms included in this combined Quarterly Report on Form 10-Q for abbreviations and acronyms used throughout the combined notes to the unaudited condensed financial statements.

1.    SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

A.    Basis of Presentation

Eversource Energy is a public utility holding company primarily engaged, through its wholly-owned regulated utility subsidiaries, in the energy delivery business.  Eversource Energy's wholly-owned regulated utility subsidiaries consist of CL&P, NSTAR Electric and PSNH (electric utilities), Yankee Gas, NSTAR Gas and EGMA (natural gas utilities), and Aquarion (water utilities). Eversource provides energy delivery and/or water service to approximately 4.4 million electric, natural gas and water customers through twelve regulated utilities in Connecticut, Massachusetts and New Hampshire.

The unaudited condensed consolidated financial statements of Eversource, NSTAR Electric and PSNH include the accounts of each of their respective subsidiaries.  Intercompany transactions have been eliminated in consolidation.  The accompanying unaudited condensed consolidated financial statements of Eversource, NSTAR Electric and PSNH and the unaudited condensed financial statements of CL&P are herein collectively referred to as the "financial statements."

The combined notes to the financial statements have been prepared pursuant to the rules and regulations of the SEC.  Certain information and footnote disclosures included in annual financial statements prepared in accordance with GAAP have been omitted pursuant to such rules and regulations.  The accompanying financial statements should be read in conjunction with the Combined Notes to Financial Statements included in Item 8, "Financial Statements and Supplementary Data," of the Eversource 2023 Form 10-K, which was filed with the SEC on February 14, 2024. The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.  Actual results could differ from those estimates.

The financial statements contain, in the opinion of management, all adjustments (including normal, recurring adjustments) necessary to present fairly Eversource's, CL&P's, NSTAR Electric's and PSNH's financial position as of June 30, 2024 and December 31, 2023, and the results of operations, comprehensive income and common shareholders' equity for the three and six months ended June 30, 2024 and 2023, and the cash flows for the six months ended June 30, 2024 and 2023. The results of operations and comprehensive income for the three and six months ended June 30, 2024 and 2023 and the cash flows for the six months ended June 30, 2024 and 2023 are not necessarily indicative of the results expected for a full year.

CYAPC and YAEC are inactive regional nuclear power companies engaged in the long-term storage of their spent nuclear fuel. Eversource consolidates the operations of CYAPC and YAEC because CL&P's, NSTAR Electric's and PSNH's combined ownership and voting interests in each of these entities is greater than 50 percent.  Intercompany transactions between CL&P, NSTAR Electric, PSNH and the CYAPC and YAEC companies have been eliminated in consolidation of the Eversource financial statements.

As of June 30, 2024, Eversource held several equity ownership interests that are not consolidated and are accounted for under the equity method, including 50 percent ownership interests in three offshore wind projects and a tax equity investment in one of the projects. See Note 1E, "Summary of Significant Accounting Policies – Investments in Unconsolidated Affiliates," for further information on Eversource’s equity method investments.

Eversource's utility subsidiaries' electric, natural gas and water distribution and transmission businesses are subject to rate-regulation that is based on cost recovery and meets the criteria for application of accounting guidance for entities with rate-regulated operations, which considers the effect of regulation on the differences in the timing of the recognition of certain revenues and expenses from those of other businesses and industries. See Note 2, "Regulatory Accounting," for further information.

Certain reclassifications of prior period data were made in the accompanying financial statements to conform to the current period presentation.

B.    Allowance for Uncollectible Accounts

Receivables, Net on the balance sheets primarily includes trade receivables from retail customers and customers related to wholesale transmission contracts, wholesale market sales, sales of RECs, and property rentals. Receivables, Net also includes customer receivables for the purchase of electricity from a competitive third party supplier, the current portion of customer energy efficiency loans, property damage receivables and other miscellaneous receivables. There is no material concentration of receivables.

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Receivables are recorded at amortized cost, net of a credit loss provision (or allowance for uncollectible accounts). The current expected credit loss (CECL) model is applied to receivables for purposes of calculating the allowance for uncollectible accounts. This model is based on expected losses and results in the recognition of estimated expected credit losses, including uncollectible amounts for both billed and unbilled revenues, over the life of the receivable at the time a receivable is recorded.

The allowance for uncollectible accounts is determined based upon a variety of judgments and factors, including an aging-based quantitative assessment that applies an estimated uncollectible percentage to each receivable aging category.  Factors in determining credit loss include historical collection, write-off experience, analysis of delinquency statistics, and management's assessment of collectability from customers, including current economic conditions, customer payment trends, the impact on customer bills because of energy usage trends and changes in rates, flexible payment plans and financial hardship arrearage management programs offered to customers, reasonable forecasts, and expectations of future collectability and collection efforts. Management continuously assesses the collectability of receivables and adjusts estimates based on actual experience and future expectations based on economic conditions, collection efforts and other factors.  Management also monitors the aging analysis of receivables to determine if there are changes in the collections of accounts receivable. Receivable balances are written off against the allowance for uncollectible accounts when the customer accounts are no longer in service and these balances are deemed to be uncollectible. Management concluded that the reserve balance as of June 30, 2024 adequately reflected the collection risk and net realizable value for its receivables.

The PURA allows CL&P and Yankee Gas to accelerate the recovery of accounts receivable balances attributable to qualified customers under financial or medical duress (uncollectible hardship accounts receivable) outstanding for greater than 180 days and 90 days, respectively.  The DPU allows NSTAR Electric, NSTAR Gas and EGMA to recover in rates amounts associated with certain uncollectible hardship accounts receivable. These uncollectible hardship customer account balances are included in Regulatory Assets or Other Long-Term Assets on the balance sheets. Hardship customers are protected from shut-off in certain circumstances, and historical collection experience has reflected a higher default risk as compared to the rest of the receivable population. Management uses a higher credit risk profile for this pool of trade receivables as compared to non-hardship receivables. The allowance for uncollectible hardship accounts is included in the total uncollectible allowance balance.

The total allowance for uncollectible accounts is included in Receivables, Net on the balance sheets. The activity in the allowance for uncollectible accounts by portfolio segment as of June 30th is as follows:

	Eversource						CL&P						NSTAR Electric						PSNH
(Millions of Dollars)	Hardship Accounts		Retail (Non-Hardship), Wholesale, and Other		Total Allowance		Hardship Accounts		Retail (Non-Hardship), Wholesale, and Other		Total Allowance		Hardship Accounts		Retail (Non-Hardship), Wholesale, and Other		Total Allowance		Total Allowance
Three Months Ended 2024
Beginning Balance	$	379.4	$	190.7	$	570.1	$	271.8	$	36.0	$	307.8	$	41.8	$	55.9	$	97.7	$	13.8
Uncollectible Expense	—		9.9		9.9		—		2.8		2.8		—		5.9		5.9		1.0
Uncollectible Costs Deferred (1)	26.0		10.0		36.0		15.3		2.6		17.9		4.3		4.7		9.0		1.1
Write-Offs	(16.5)		(23.3)		(39.8)		(12.9)		(8.3)		(21.2)		(0.2)		(7.1)		(7.3)		(2.0)
Recoveries Collected	0.2		3.2		3.4		0.2		1.1		1.3		—		0.9		0.9		0.2
Ending Balance	$	389.1	$	190.5	$	579.6	$	274.4	$	34.2	$	308.6	$	45.9	$	60.3	$	106.2	$	14.1
Six Months Ended 2024
Beginning Balance	$	366.8	$	187.7	$	554.5	$	259.7	$	36.3	$	296.0	$	43.6	$	53.4	$	97.0	$	14.3
Uncollectible Expense	—		26.3		26.3		—		6.3		6.3		—		12.0		12.0		2.2
Uncollectible Costs Deferred (1)	53.5		21.4		74.9		38.1		5.3		43.4		3.5		9.1		12.6		2.4
Write-Offs	(31.7)		(51.8)		(83.5)		(23.8)		(16.0)		(39.8)		(1.2)		(16.3)		(17.5)		(5.2)
Recoveries Collected	0.5		6.9		7.4		0.4		2.3		2.7		—		2.1		2.1		0.4
Ending Balance	$	389.1	$	190.5	$	579.6	$	274.4	$	34.2	$	308.6	$	45.9	$	60.3	$	106.2	$	14.1

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	Eversource						CL&P						NSTAR Electric						PSNH
(Millions of Dollars)	Hardship Accounts		Retail (Non-Hardship), Wholesale, and Other		Total Allowance		Hardship Accounts		Retail (Non-Hardship), Wholesale, and Other		Total Allowance		Hardship Accounts		Retail (Non-Hardship), Wholesale, and Other		Total Allowance		Total Allowance (2)
Three Months Ended 2023
Beginning Balance	$	318.7	$	216.4	$	535.1	$	216.2	$	37.2	$	253.4	$	42.0	$	52.6	$	94.6	$	33.5
Uncollectible Expense	—		1.4		1.4		—		0.9		0.9		—		3.1		3.1		(5.5)
Uncollectible Costs Deferred (1)	27.0		(5.5)		21.5		16.6		3.4		20.0		3.7		3.9		7.6		(13.5)
Write-Offs	(8.1)		(21.8)		(29.9)		(6.8)		(6.7)		(13.5)		(0.1)		(8.6)		(8.7)		(2.0)
Recoveries Collected	0.6		3.7		4.3		0.5		1.5		2.0		—		1.2		1.2		0.2
Ending Balance	$	338.2	$	194.2	$	532.4	$	226.5	$	36.3	$	262.8	$	45.6	$	52.2	$	97.8	$	12.7
Six Months Ended 2023
Beginning Balance	$	284.4	$	201.9	$	486.3	$	188.9	$	36.4	$	225.3	$	43.7	$	51.3	$	95.0	$	29.2
Uncollectible Expense	—		24.2		24.2		—		4.8		4.8		—		7.8		7.8		(0.5)
Uncollectible Costs Deferred (1)	70.8		8.7		79.5		50.9		6.1		57.0		2.4		9.3		11.7		(12.2)
Write-Offs	(17.8)		(48.0)		(65.8)		(14.1)		(13.7)		(27.8)		(0.5)		(18.9)		(19.4)		(4.2)
Recoveries Collected	0.8		7.4		8.2		0.8		2.7		3.5		—		2.7		2.7		0.4
Ending Balance	$	338.2	$	194.2	$	532.4	$	226.5	$	36.3	$	262.8	$	45.6	$	52.2	$	97.8	$	12.7

(1) These expected credit losses are deferred as regulatory costs on the balance sheets, as these amounts are ultimately recovered in rates. Amounts include uncollectible costs for hardship accounts and other customer receivables, including uncollectible amounts related to uncollectible energy supply costs and COVID-19. The increases in the allowance for uncollectible hardship accounts at Eversource and CL&P in both 2024 and 2023 primarily relate to increased customer enrollment in disconnection prevention programs in Connecticut.

(2) In connection with PSNH’s pole purchase agreement on May 1, 2023, the purchase price included the forgiveness of previously reserved receivables for reimbursement of operation and maintenance and vegetation management costs.

C.    Fair Value Measurements

Fair value measurement guidance is applied to derivative contracts that are not elected or designated as "normal purchases" or "normal sales" (normal) and to marketable securities held in trusts.  Fair value measurement guidance is also applied to valuations of the investments used to calculate the funded status of pension and PBOP plans, the nonrecurring fair value measurements of nonfinancial assets such as goodwill, long-lived assets, equity method investments, AROs, and in the valuation of business combinations and asset acquisitions. The fair value measurement guidance was also applied in estimating the fair value of preferred stock, long-term debt and RRBs.

Fair Value Hierarchy:  In measuring fair value, Eversource uses observable market data when available in order to minimize the use of unobservable inputs.  Inputs used in fair value measurements are categorized into three fair value hierarchy levels for disclosure purposes.  The entire fair value measurement is categorized based on the lowest level of input that is significant to the fair value measurement.  Eversource evaluates the classification of assets and liabilities measured at fair value on a quarterly basis. 

The levels of the fair value hierarchy are described below:

Level 1 - Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities as of the reporting date.  Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis.  

Level 2 - Inputs are quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-derived valuations in which all significant inputs are observable.

Level 3 - Quoted market prices are not available.  Fair value is derived from valuation techniques in which one or more significant inputs or assumptions are unobservable.  Where possible, valuation techniques incorporate observable market inputs that can be validated to external sources such as industry exchanges, including prices of energy and energy-related products.  

Uncategorized - Investments that are measured at net asset value are not categorized within the fair value hierarchy.

Determination of Fair Value:  The valuation techniques and inputs used in Eversource's fair value measurements are described in Note 4, "Derivative Instruments," Note 5, "Marketable Securities," and Note 10, "Fair Value of Financial Instruments," to the financial statements.

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D.    Other Income, Net

The components of Other Income, Net on the statements of income were as follows:

	For the Three Months Ended
	June 30, 2024								June 30, 2023
(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric		PSNH
Pension, SERP and PBOP Non-Service   Income Components, Net of Deferred Portion	$	30.0	$	7.2	$	13.3	$	3.7	$	33.3	$	8.4	$	14.1	$	3.9
AFUDC Equity	23.7		5.5		15.2		1.7		19.0		4.6		12.0		1.1
Equity in Earnings of Unconsolidated Affiliates (1)	23.2		—		0.2		—		5.0		—		0.1		—
Investment Income/(Loss)	1.1		(0.1)		0.5		—		(1.4)		(1.1)		0.3		(0.3)
Interest Income	37.1		10.4		19.2		2.4		21.4		1.5		14.4		1.2
Other (2)	0.2		—		—		—		17.6		—		—		0.4
Total Other Income, Net	$	115.3	$	23.0	$	48.4	$	7.8	$	94.9	$	13.4	$	40.9	$	6.3
	For the Six Months Ended
	June 30, 2024								June 30, 2023
(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric		PSNH
Pension, SERP and PBOP Non-Service    Income Components, Net of Deferred Portion	$	57.8	$	13.7	$	25.6	$	7.3	$	68.1	$	17.9	$	28.8	$	8.1
AFUDC Equity	50.5		11.5		31.4		3.6		34.5		8.7		21.5		1.8
Equity in Earnings of Unconsolidated Affiliates (1)	31.0		—		0.4		—		8.8		—		0.2		—
Investment Income/(Loss)	0.3		(0.9)		0.9		(0.2)		(3.1)		(1.7)		(0.2)		(0.4)
Interest Income	67.1		15.1		37.2		4.1		44.5		3.4		30.4		2.1
Other (2)	(0.4)		—		—		—		31.1		—		0.1		0.4
Total Other Income, Net	$	206.3	$	39.4	$	95.5	$	14.8	$	183.9	$	28.3	$	80.8	$	12.0

(1)    Equity in Earnings of Unconsolidated Affiliates includes $23.4 million of pre-tax income recorded at Eversource in the second quarter of 2024 from Eversource’s wind equity method investment, North East Offshore, as a result of a vendor settlement agreement payment received by the joint venture. This settlement payment reduced the required capital contributions to be made by Eversource to North East Offshore during the second quarter of 2024.

(2)    Eversource’s equity method investment in a renewable energy fund was liquidated in March 2023. Liquidation proceeds in excess of the carrying value were recorded in both the first and second quarters of 2023 within Other in the tables above. See Note 1E, "Summary of Significant Accounting Policies - Investments in Unconsolidated Affiliates," for further information.

E.    Investments in Unconsolidated Affiliates

Investments in entities that are not consolidated are included in long-term assets on the balance sheets and earnings impacts from these equity investments are included in Other Income, Net on the statements of income.  Eversource's investments included the following:

				Investment Balance
(Millions of Dollars)	Ownership Interest			As of June 30, 2024		As of December 31, 2023
Offshore Wind Business	50%	-	100%	$	806.1	$	515.5
Natural Gas Pipeline - Algonquin Gas Transmission, LLC	15%			113.2		116.0
Other	various			29.7		29.0
Total Investments in Unconsolidated Affiliates				$	949.0	$	660.5

Offshore Wind Business: As of June 30, 2024, Eversource’s offshore wind business includes 50 percent ownership interests in each of North East Offshore and South Fork Class B Member, LLC, which collectively hold three offshore wind projects. North East Offshore holds the Revolution Wind project and the Sunrise Wind project. South Fork Class B Member, LLC holds the South Fork Wind project. The offshore wind projects are being developed and constructed through joint and equal partnerships with Ørsted. Eversource’s offshore wind business also includes a noncontrolling tax equity investment in South Fork Wind through a 100 percent ownership in South Fork Wind Holdings, LLC Class A shares.

On May 25, 2023, Eversource announced that it had completed a strategic review of its offshore wind investments and determined that it would pursue the sale of its offshore wind investments. On September 7, 2023, Eversource completed the sale of its 50 percent interest in an uncommitted lease area consisting of approximately 175,000 developable acres located 25 miles off the south coast of Massachusetts to Ørsted for $625 million in an all-cash transaction.

In September of 2023, Eversource made a contribution of $528 million using the proceeds from the lease area sale to invest in a tax equity interest for South Fork Wind. South Fork Wind was restructured as a tax equity investment, with Eversource purchasing 100 percent ownership of a new Class A tax equity membership interest. This investment will result in Eversource receiving cash flow benefits from investment tax credits (ITC) and other future cash flow benefits as well. As of June 30 2024, all twelve South Fork Wind turbines met the requirements to qualify for the investment tax credits. As a result, $385 million of expected investment tax credits were reclassified from the South Fork Wind tax equity

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investment balance reported in Investments in Unconsolidated Affiliates as a reduction in current taxes payable of $54 million and an increase in deferred tax assets of $331 million on the Eversource balance sheet as of June 30, 2024.

As a result of these investment tax credits generated from our wind investments, Eversource expects lower federal income tax payments between 2024 through 2026.

Sales of Offshore Wind Investments: On January 24, 2024, Ørsted signed an agreement with Eversource to acquire Eversource’s 50 percent share of Sunrise Wind, subject to the successful selection of Sunrise Wind in the New York fourth solicitation for offshore wind capacity, signing of an OREC contract with NYSERDA, finalization of agreements including the equity and asset purchase agreement, receipt of the final approval by BOEM of the Sunrise Wind Construction and Operations Plan (COP), and relevant regulatory approvals. On February 29, 2024, Sunrise Wind was selected for contract negotiation in the offshore wind solicitation by NYSERDA, and was subsequently awarded a contract, which was finalized and completed on May 31, 2024. In June 2024, Sunrise Wind received final approval by BOEM of its COP and all remaining regulatory approvals.

On April 18, 2024, Eversource and Ørsted executed the equity and asset purchase agreement to sell Eversource’s 50 percent interest in Sunrise Wind to Ørsted for a gross purchase price of $230 million. The purchase price was subject to reduction for actual capital spending less than forecasted spending between signing the agreement in January and closing of the transaction. On July 9, 2024, Eversource completed the sale of its 50 percent ownership share of Sunrise Wind to Ørsted. In accordance with the equity and asset purchase agreement and after adjustment for the reduction in capital spending compared to forecasted, Ørsted paid Eversource $118 million at the closing of the sale transaction, and the remaining proceeds of $34 million will be paid after onshore construction is completed and certain other construction milestones are achieved.

With the completion of the sale, Eversource has divested all of its ownership interest in Sunrise Wind and will not have any ongoing ownership interest in the project, nor any ongoing financial obligations associated with project costs. Eversource’s existing credit support obligations were either terminated or indemnified by Ørsted as a result of the sale. Eversource has entered into a separate amended and restated construction management agreement to manage Sunrise Wind’s onshore construction through completion. In this role, Eversource will solely be a service provider to Sunrise Wind.

On February 13, 2024, Eversource executed an agreement to sell its existing 50 percent interests in the South Fork Wind and Revolution Wind projects to Global Infrastructure Partners (GIP) for $1.1 billion of cash proceeds to be received upon closing, subject to adjustment. The purchase price is inclusive of the sales value related to a 40 percent level of federal investment tax credits, 10 percent of which is the energy community ITC adder of approximately $170 million related to Revolution Wind. The purchase price is subject to adjustments based on, among other things, the progress, timing and the construction cost of Revolution Wind, including changes in actual versus forecasted capital spending between signing the agreement and closing of the transaction. Factors that could result in Eversource’s total net proceeds from the transaction to be lower, resulting in post-closing adjustment payments owed to GIP, include the ultimate cost of construction and extent of cost overruns for Revolution Wind, delays in constructing Revolution Wind, which would impact the economics associated with the purchase price adjustment, and Revolution Wind’s eligibility for federal investment tax credits at less than the value included in the purchase price. Total net proceeds could also be adjusted for a benefit due to Eversource if there are lower operation costs or higher availability of the projects through the period that is four years following the commercial operation date of the Revolution Wind project.

The post-closing purchase price adjustment payments include cost sharing obligations that provide Eversource will share equally with GIP in GIP’s funding obligations for up to approximately $240 million of incremental capital expenditure overruns incurred during the construction phase for Revolution Wind, after which obligations for any additional capital expenditure overruns would be shared equally by Eversource and Ørsted. The purchase price is also subject to post-closing adjustments as a result of final project economics, which includes Eversource’s obligation to maintain GIP’s internal rate of return for each project as specified in the agreement. Post-closing purchase price adjustment payments will be made following the sale closing date for South Fork and following the commercial operation of Revolution Wind. South Fork Wind construction has been completed, and Eversource does not expect any material cost sharing or other purchase price adjustment payments for South Fork Wind.

Closing the transaction with GIP is subject to customary conditions, including certain regulatory approvals, as well as other conditions, among which is the completion and execution of the partnership agreements between GIP and Ørsted that will govern GIP’s new ownership interest in those projects following Eversource’s divestiture. All regulatory approvals have been received and the review period under the Hart Scott Rodino Act has expired. Closing of this transaction is currently expected to occur in the third quarter of 2024.

Under the agreement with GIP, Eversource’s existing credit support obligations are expected to roll off for each project around the time that each project completes its expected capital spend. Eversource will continue to make future cash expenditures for required cash contributions up to the time of disposition of the Revolution Wind and South Fork Wind projects and changes in the timing and amounts of these contributions would be adjusted in the purchase price.

Upon close of the sale transactions in the third quarter of 2024, the total proceeds will be compared to the current carrying value of the investments, and the difference will be reflected in the statement of income. At that time, Eversource will also record an estimate of future obligations under the terms of the GIP transaction, which primarily could include the potential cost overrun sharing obligation and potential obligation to maintain GIP’s internal rate of return for the Revolution Wind project. Eversource is currently evaluating the combined impact of the Sunrise Wind sale and the expected sale of Revolution Wind and South Fork Wind, and at this time, does not expect a material financial impact on our 2024 results. Proceeds from the transactions will be used to pay off parent company debt.

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Impairment: Equity method investments are assessed for impairment when conditions exist as of the balance sheet date that indicate that the fair value of the investment may be less than book value. Eversource continually monitors and evaluates its equity method investments to determine if there are indicators of an other-than-temporary impairment. If the decline in value is considered to be other-than-temporary, the investment is written down to its estimated fair value, which establishes a new cost basis in the investment. Subsequent declines or recoveries after the reporting date are not considered in the impairment recognized. Investments that are other-than-temporarily impaired and written down to their estimated fair value cannot subsequently be written back up for increases in estimated fair value. Impairment evaluations involve a significant degree of judgment and estimation, including identifying circumstances that indicate an impairment may exist at the equity method investment level, selecting discount rates used to determine fair values, and developing an estimate of discounted future cash flows expected from investment operations or the sale of the investment. In the second quarter of 2024, there were no indicators of an other-than-temporary impairment in Eversource’s equity method investment balance.

In the second quarter of 2023, in connection with the process to divest its offshore wind business, Eversource identified indicators for impairment. In the impairment assessment, Eversource evaluated its investments and determined that the carrying value of the equity method offshore wind investments exceeded the fair value of the investments and that the decline in fair value was other-than-temporary. The completion of the strategic review in the second quarter of 2023 resulted in Eversource recording a pre-tax other-than-temporary impairment charge of $401 million ($331 million after-tax) to reflect the investment at estimated fair value based on the expected purchase price at that time. In the fourth quarter of 2023, Eversource recognized an additional pre-tax other-than-temporary impairment charge of $1.77 billion ($1.62 billion after-tax) in its offshore wind investments and established a new cost basis in the investments as of December 31, 2023. The impairment charges were non-cash charges and did not impact Eversource’s cash position.

2023 Liquidation of Renewable Energy Investment Fund: On March 21, 2023, Eversource’s equity method investment in a renewable energy investment fund was liquidated by the fund’s general partner in accordance with the partnership agreement. Proceeds received from the liquidation of $147.0 million were included in Investments in Unconsolidated Affiliates within investing activities on the statement of cash flows for the six months ended June 30, 2023. Of this amount, $123.4 million was received in the first quarter of 2023, and $23.6 million was received from escrow in the second quarter of 2023. A portion of the proceeds was used to make a charitable contribution to the Eversource Energy Foundation (a related party) of $20.0 million in the first quarter of 2023. The liquidation benefit received in excess of the investment’s carrying value and the charitable contribution are included in Other Income, Net on the statement of income.

F.    Other Taxes

Eversource's companies that serve customers in Connecticut collect gross receipts taxes levied by the state of Connecticut from their customers. These gross receipts taxes are recorded separately with collections in Operating Revenues and with payments in Taxes Other Than Income Taxes on the statements of income as follows:

	For the Three Months Ended				For the Six Months Ended
(Millions of Dollars)	June 30, 2024		June 30, 2023		June 30, 2024		June 30, 2023
Eversource	$	44.6	$	44.7	$	97.9	$	99.7
CL&P	39.7		38.9		83.6		82.0

As agents for state and local governments, Eversource's companies that serve customers in Connecticut and Massachusetts collect certain sales taxes that are recorded on a net basis with no impact on the statements of income. 

G.    Supplemental Cash Flow Information

Non-cash investing activities include plant additions included in Accounts Payable as follows:

(Millions of Dollars)	As of June 30, 2024		As of June 30, 2023
Eversource	$	477.9	$	457.5
CL&P	89.2		104.8
NSTAR Electric	142.2		113.4
PSNH	86.5		59.6

The following table reconciles cash as reported on the balance sheets to the cash and restricted cash balance as reported on the statements of cash flows:

	As of June 30, 2024								As of December 31, 2023
(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric		PSNH
Cash as reported on the Balance Sheets	$	33.4	$	—	$	2.7	$	0.3	$	53.9	$	10.2	$	6.7	$	0.2
Restricted cash included in:
Special Deposits	66.4		1.1		1.4		30.6		81.5		2.0		16.1		31.6
Marketable Securities	16.3		—		—		—		13.7		—		—		—
Other Long-Term Assets	16.5		—		—		3.2		17.3		—		—		3.2
Cash and Restricted Cash as reported on the Statements of Cash Flows	$	132.6	$	1.1	$	4.1	$	34.1	$	166.4	$	12.2	$	22.8	$	35.0

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Special Deposits represent cash collections related to the PSNH RRB customer charges that are held in trust, required ISO-NE cash deposits, cash held in escrow accounts, and CYAPC and YAEC cash balances. Special Deposits are included in Current Assets on the balance sheets. Restricted cash included in Marketable Securities represents money market funds held in restricted trusts to fund CYAPC and YAEC's spent nuclear fuel storage obligations.

Eversource’s restricted cash includes an Energy Relief Fund for energy efficiency and clean energy measures in the Merrimack Valley established under the terms of the EGMA 2020 settlement agreement. This restricted cash held in escrow accounts included $20.0 million recorded as short-term in Special Deposits as of both June 30, 2024 and December 31, 2023, and $13.3 million and $14.1 million recorded in Other Long-Term Assets on the balance sheets as of June 30, 2024 and December 31, 2023, respectively.

2.    REGULATORY ACCOUNTING

Eversource's utility companies are subject to rate regulation that is based on cost recovery and meets the criteria for application of accounting guidance for rate-regulated operations, which considers the effect of regulation on the timing of the recognition of certain revenues and expenses. The regulated companies' financial statements reflect the effects of the rate-making process.  The rates charged to the customers of Eversource's regulated companies are designed to collect each company's costs to provide service, plus a return on investment.

The application of accounting guidance for rate-regulated enterprises results in recording regulatory assets and liabilities. Regulatory assets represent the deferral of incurred costs that are probable of future recovery in customer rates. Regulatory assets are amortized as the incurred costs are recovered through customer rates. Regulatory liabilities represent either revenues received from customers to fund expected costs that have not yet been incurred or probable future refunds to customers.

Management believes it is probable that each of the regulated companies will recover its respective investments in long-lived assets and the regulatory assets that have been recorded.  If management were to determine that it could no longer apply the accounting guidance applicable to rate-regulated enterprises, or if management could not conclude it is probable that costs would be recovered from customers in future rates, the applicable costs would be charged to net income in the period in which the determination is made.

Regulatory Assets:  The components of regulatory assets were as follows:

	As of June 30, 2024								As of December 31, 2023
(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric		PSNH
Storm Costs, Net	$	2,074.8	$	976.8	$	652.1	$	445.9	$	1,785.9	$	896.6	$	609.1	$	280.2
Regulatory Tracking Mechanisms	1,722.0		743.7		549.6		174.3		1,319.2		354.5		482.9		182.2
Benefit Costs	1,116.5		201.6		320.3		81.0		1,117.3		197.4		336.7		79.3
Income Taxes, Net	936.1		522.4		138.2		14.8		912.4		512.6		128.6		16.4
Securitized Stranded Costs	370.9		—		—		370.9		392.5		—		—		392.5
Goodwill-related	255.7		—		219.5		—		264.1		—		226.7		—
Asset Retirement Obligations	144.0		39.8		75.3		4.9		137.9		38.5		72.3		4.7
Derivative Liabilities	87.4		87.4		—		—		120.9		120.9		—		—
Other Regulatory Assets	360.3		21.0		107.9		5.8		339.0		22.7		101.6		8.0
Total Regulatory Assets	7,067.7		2,592.7		2,062.9		1,097.6		6,389.2		2,143.2		1,957.9		963.3
Less:  Current Portion	2,071.7		860.8		757.4		175.0		1,674.2		480.4		676.1		189.5
Total Long-Term Regulatory Assets	$	4,996.0	$	1,731.9	$	1,305.5	$	922.6	$	4,715.0	$	1,662.8	$	1,281.8	$	773.8

Regulatory Costs in Other Long-Term Assets:  Eversource's regulated companies had $267.0 million (including $180.4 million for CL&P, $27.8 million for NSTAR Electric and $2.1 million for PSNH) and $241.7 million (including $166.7 million for CL&P, $21.9 million for NSTAR Electric and $1.2 million for PSNH) of additional regulatory costs not yet specifically approved as of June 30, 2024 and December 31, 2023, respectively, that were included in Other Long-Term Assets on the balance sheets.  These amounts will be reclassified to Regulatory Assets upon approval by the applicable regulatory agency. Based on regulatory policies or past precedent on similar costs, management believes it is probable that these costs will ultimately be approved and recovered from customers in rates. As of June 30, 2024 and December 31, 2023, these regulatory costs included $87.5 million (including $64.7 million for CL&P and $10.9 million for NSTAR Electric) and $82.1 million (including $64.0 million for CL&P and $7.3 million for NSTAR Electric), respectively, of deferred uncollectible hardship costs.

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Regulatory Liabilities:  The components of regulatory liabilities were as follows:

	As of June 30, 2024								As of December 31, 2023
(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric		PSNH
EDIT due to Tax Cuts and Jobs Act of 2017	$	2,526.7	$	963.9	$	894.0	$	335.7	$	2,548.6	$	969.2	$	905.1	$	339.3
Regulatory Tracking Mechanisms	722.7		183.2		393.3		72.6		668.3		154.0		347.2		114.4
Cost of Removal	717.4		182.1		442.2		18.4		666.6		157.9		420.9		16.2
Deferred Portion of Non-Service Income    Components of Pension, SERP and PBOP	391.5		56.0		194.0		39.7		354.0		49.9		175.9		36.6
AFUDC - Transmission	142.4		61.0		81.4		—		124.3		56.1		68.2		—
Benefit Costs	40.4		0.5		14.7		—		51.0		0.6		22.2		—
Other Regulatory Liabilities	204.0		38.5		13.5		4.9		201.9		30.4		13.9		4.6
Total Regulatory Liabilities	4,745.1		1,485.2		2,033.1		471.3		4,614.7		1,418.1		1,953.4		511.1
Less:  Current Portion	652.3		133.3		413.5		79.1		591.8		102.2		368.1		117.5
Total Long-Term Regulatory Liabilities	$	4,092.8	$	1,351.9	$	1,619.6	$	392.2	$	4,022.9	$	1,315.9	$	1,585.3	$	393.6

3.    PROPERTY, PLANT AND EQUIPMENT AND ACCUMULATED DEPRECIATION

The following tables summarize property, plant and equipment by asset category:

Eversource	As of June 30, 2024		As of December 31, 2023
(Millions of Dollars)
Distribution - Electric	$	20,467.3	$	19,656.5
Distribution - Natural Gas	8,358.9		8,155.3
Transmission - Electric	15,589.6		14,666.8
Distribution - Water	2,313.5		2,280.1
Solar	201.1		201.1
Utility	46,930.4		44,959.8
Other (1)	2,193.6		2,006.8
Property, Plant and Equipment, Gross	49,124.0		46,966.6
Less:  Accumulated Depreciation
Utility	(10,110.4)		(9,670.1)
Other	(964.4)		(869.6)
Total Accumulated Depreciation	(11,074.8)		(10,539.7)
Property, Plant and Equipment, Net	38,049.2		36,426.9
Construction Work in Progress	3,077.0		3,071.7
Total Property, Plant and Equipment, Net	$	41,126.2	$	39,498.6

	As of June 30, 2024						As of December 31, 2023
(Millions of Dollars)	CL&P		NSTAR Electric		PSNH		CL&P		NSTAR Electric		PSNH
Distribution - Electric	$	8,270.0	$	9,378.4	$	2,859.1	$	7,897.1	$	9,000.5	$	2,799.2
Transmission - Electric	6,790.7		6,146.5		2,654.1		6,548.2		5,630.8		2,489.5
Solar	—		201.1		—		—		201.1		—
Property, Plant and Equipment, Gross	15,060.7		15,726.0		5,513.2		14,445.3		14,832.4		5,288.7
Less:  Accumulated Depreciation	(2,884.4)		(3,706.6)		(1,016.5)		(2,670.5)		(3,585.9)		(984.0)
Property, Plant and Equipment, Net	12,176.3		12,019.4		4,496.7		11,774.8		11,246.5		4,304.7
Construction Work in Progress	512.3		1,303.5		336.7		565.4		1,507.3		270.0
Total Property, Plant and Equipment, Net	$	12,688.6	$	13,322.9	$	4,833.4	$	12,340.2	$	12,753.8	$	4,574.7

(1)    These assets are primarily comprised of computer software, hardware and equipment at Eversource Service and buildings at The Rocky River Realty Company.

4.    DERIVATIVE INSTRUMENTS

The electric and natural gas companies purchase and procure energy and energy-related products, which are subject to price volatility, for their customers.  The costs associated with supplying energy to customers are recoverable from customers in future rates.  These regulated companies manage the risks associated with the price volatility of energy and energy-related products through the use of derivative and non-derivative contracts.  Many of the derivative contracts meet the definition of, and are designated as, normal and qualify for accrual accounting under the applicable accounting guidance.  The costs and benefits of derivative contracts that meet the definition of normal are recognized in Operating Expenses on the statements of income as electricity or natural gas is delivered.

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Derivative contracts that are not designated as normal are recorded at fair value as derivative assets or liabilities on the balance sheets.  For the electric and natural gas companies, regulatory assets or regulatory liabilities are recorded to offset the fair values of derivatives, as contract settlement amounts are recovered from, or refunded to, customers in their respective energy supply rates.  

The gross fair values of derivative assets and liabilities with the same counterparty are offset and reported as net Derivative Assets or Derivative Liabilities, with current and long-term portions, on the balance sheets.  The following table presents the gross fair values of contracts, categorized by risk type, and the net amounts recorded as current or long-term derivative assets or liabilities:

		As of June 30, 2024						As of December 31, 2023
CL&P (Millions of Dollars)	Fair Value Hierarchy	Commodity Supply and Price Risk Management		Netting (1)		Net Amount Recorded as a Derivative		Commodity Supply and Price Risk Management		Netting (1)		Net Amount Recorded as a Derivative
Current Derivative Assets	Level 2	$	15.5	$	(0.4)	$	15.1	$	16.4	$	(0.5)	$	15.9
Long-Term Derivative Assets	Level 2	6.2		(0.2)		6.0		13.6		(0.5)		13.1
Current Derivative Liabilities	Level 2	(77.4)		—		(77.4)		(81.9)		—		(81.9)
Long-Term Derivative Liabilities	Level 2	(31.1)		—		(31.1)		(68.0)		—		(68.0)

    

(1)    Amounts represent derivative assets and liabilities that Eversource elected to record net on the balance sheets.  These amounts are subject to master netting agreements or similar agreements for which the right of offset exists.

Derivative Contracts at Fair Value with Offsetting Regulatory Amounts

Commodity Supply and Price Risk Management:  As required by regulation, CL&P, along with UI, has capacity-related contracts with generation facilities.  CL&P has a sharing agreement with UI, with 80 percent of the costs or benefits of each contract borne by or allocated to CL&P and 20 percent borne by or allocated to UI.  The combined capacities of these contracts as of June 30, 2024 and December 31, 2023 were 615 MW and 682 MW, respectively. The capacity contracts extend through 2026 and obligate both CL&P and UI to make or receive payments on a monthly basis to or from the generation facilities based on the difference between a set capacity price and the capacity market price received in the ISO-NE capacity markets. 

For the three months ended June 30, 2024 and 2023, there were losses of $1.9 million and gains of $1.8 million, respectively. For the six months ended June 30, 2024 and 2023, there were losses of $2.9 million and $0.1 million, respectively. These changes in fair value associated with CL&P’s derivative contracts are deferred in Regulatory Assets on the balance sheet.

Fair Value Measurements of Derivative Instruments

The fair value of derivative contracts utilizes both observable and unobservable inputs.  The fair value is modeled using income techniques, such as discounted cash flow valuations adjusted for assumptions related to exit price.  Valuations of derivative contracts using a discounted cash flow methodology include assumptions regarding the timing and likelihood of scheduled capacity payments and also reflect non-performance risk, including credit, using the default probability approach based on the counterparty's credit rating for assets and the Company's credit rating for liabilities.  Significant observable inputs for valuations of these contracts include energy-related product prices in future years for which quoted prices in an active market exist. Valuations incorporate estimates of premiums or discounts that would be required by a market participant to arrive at an exit price, using historical market transactions adjusted for the terms of the contract.  Fair value measurements were prepared by individuals with expertise in valuation techniques, pricing of energy-related products, and accounting requirements. All derivative contracts were classified as Level 2 in the fair value hierarchy as of both June 30, 2024 and December 31, 2023.

The following table presents changes in the Level 3 category of derivative assets and derivative liabilities measured at fair value on a recurring basis.  The derivative assets and liabilities are presented on a net basis.

CL&P	For the Three Months Ended June 30, 2023		For the Six Months Ended June 30, 2023
(Millions of Dollars)
Derivatives, Net:
Fair Value as of Beginning of Period	$	(168.8)	$	(181.8)
Net Realized/Unrealized Gains/(Losses) Included in Regulatory Assets	1.8		(0.1)
Settlements	14.9		29.8
Fair Value as of End of Period	$	(152.1)	$	(152.1)

5.    MARKETABLE SECURITIES

Eversource’s marketable securities include the CYAPC and YAEC legally restricted trusts that each hold equity and available-for-sale debt securities to fund the spent nuclear fuel removal obligations of their nuclear fuel storage facilities. Eversource also holds trusts that are not subject to regulatory oversight by state or federal agencies that are primarily used to fund certain non-qualified executive benefits. The marketable securities within the non-qualified executive benefit trusts were sold in 2023. Equity and available-for-sale debt marketable securities are recorded at fair value, with the current portion recorded in Prepayments and Other Current Assets and the long-term portion recorded in Marketable Securities on the balance sheets. CYAPC and YAEC’s spent nuclear fuel trusts are restricted and are classified in long-term Marketable Securities on the balance sheets.

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Equity Securities: Eversource's equity securities include CYAPC's and YAEC's marketable securities held in spent nuclear fuel trusts, which had fair values of $168.8 million and $173.6 million as of June 30, 2024 and December 31, 2023, respectively.  Unrealized gains and losses for these spent nuclear fuel trusts are subject to regulatory accounting treatment and are recorded in Marketable Securities with the corresponding offset to long-term liabilities on the balance sheets, with no impact on the statements of income.

Unrealized gains and losses on equity securities held in Eversource's trusts are recorded in Other Income, Net on the statements of income. The equity securities within Eversource’s non-qualified executive benefits trusts were sold during 2023. The fair value of equity securities held in Eversource’s trusts as of June 30, 2024 and December 31, 2023 were $3.8 million and $3.3 million, respectively. There were unrealized gains of $0.1 million and $0.5 million for the three and six months ended June 30, 2024 and unrealized losses of $4.7 million and $3.9 million for the three and six months ended June 30, 2023 recorded in Other Income, Net, respectively, related to these equity securities.

Available-for-Sale Debt Securities: The following is a summary of available-for-sale debt securities, which are held in CYAPC’s and YAEC’s spent nuclear fuel trusts:

	As of June 30, 2024								As of December 31, 2023
Eversource (Millions of Dollars)	Amortized Cost		Pre-Tax Unrealized Gains		Pre-Tax Unrealized Losses		Fair Value		Amortized Cost		Pre-Tax Unrealized Gains		Pre-Tax Unrealized Losses		Fair Value
Debt Securities	$	172.8	$	0.2	$	(10.0)	$	163.0	$	169.5	$	1.4	$	(6.6)	$	164.3

Unrealized gains and losses for available-for-sale debt securities included in the CYAPC and YAEC spent nuclear fuel trusts are subject to regulatory accounting treatment and are recorded in Marketable Securities with the corresponding offset to long-term liabilities on the balance sheets, with no impact on the statements of income.

The debt securities within Eversource’s non-qualified executive benefits trusts were sold during 2023. Any unrealized gains and losses on available-for-sale debt securities held in Eversource's trusts are recorded in Accumulated Other Comprehensive Income, excluding amounts related to credit losses or losses on securities intended to be sold, which are recorded in Other Income, Net. There were no credit losses for the three and six months ended June 30, 2024 and 2023, and no allowance for credit losses as of June 30, 2024. Factors considered in determining whether a credit loss exists include adverse conditions specifically affecting the issuer, the payment history, ratings and rating changes of the security, and the severity of the impairment.  For asset-backed debt securities, underlying collateral and expected future cash flows are also evaluated.

As of June 30, 2024, the contractual maturities of available-for-sale debt securities were as follows:

 

Eversource (Millions of Dollars)	Amortized Cost		Fair Value
Less than one year	$	17.8	$	17.7
One to five years	30.9		30.3
Six to ten years	43.9		42.5
Greater than ten years	80.2		72.5
Total Debt Securities	$	172.8	$	163.0

Realized Gains and Losses:  Realized gains and losses are offset in long-term liabilities for CYAPC and YAEC and are recorded in Other Income, Net for Eversource's benefit trusts.  Eversource utilizes the average cost basis method for the CYAPC and YAEC spent nuclear fuel trusts and the specific identification basis method for the Eversource non-qualified benefit trusts to compute the realized gains and losses on the sale of marketable securities.

Fair Value Measurements:  The following table presents the marketable securities recorded at fair value on a recurring basis by the level in which they are classified within the fair value hierarchy:

Eversource (Millions of Dollars)	As of June 30, 2024		As of December 31, 2023
Level 1:
Mutual Funds and Equities	$	172.6	$	176.9
Money Market Funds	16.3		13.7
Total Level 1	$	188.9	$	190.6
Level 2:
U.S. Government Issued Debt Securities (Agency and Treasury)	$	87.6	$	90.1
Corporate Debt Securities	33.5		34.0
Asset-Backed Debt Securities	8.3		5.6
Municipal Bonds	7.0		9.8
Other Fixed Income Securities	10.3		11.1
Total Level 2	$	146.7	$	150.6
Total Marketable Securities	$	335.6	$	341.2

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U.S. government issued debt securities are valued using market approaches that incorporate transactions for the same or similar bonds and adjustments for yields and maturity dates.  Corporate debt securities are valued using a market approach, utilizing recent trades of the same or similar instruments and also incorporating yield curves, credit spreads and specific bond terms and conditions.  Asset-backed debt securities include collateralized mortgage obligations, commercial mortgage backed securities, and securities collateralized by auto loans, credit card loans or receivables.  Asset-backed debt securities are valued using recent trades of similar instruments, prepayment assumptions, yield curves, issuance and maturity dates, and tranche information.  Municipal bonds are valued using a market approach that incorporates reported trades and benchmark yields.  Other fixed income securities are valued using pricing models, quoted prices of securities with similar characteristics, and discounted cash flows.

6.    SHORT-TERM AND LONG-TERM DEBT

Short-Term Debt - Commercial Paper Programs and Credit Agreements: Eversource parent has a $2.00 billion commercial paper program allowing Eversource parent to issue commercial paper as a form of short-term debt. Eversource parent, CL&P, PSNH, NSTAR Gas, Yankee Gas, EGMA and Aquarion Water Company of Connecticut are parties to a five-year $2.00 billion revolving credit facility, which terminates on October 13, 2028. This revolving credit facility serves to backstop Eversource parent's $2.00 billion commercial paper program.  

NSTAR Electric has a $650 million commercial paper program allowing NSTAR Electric to issue commercial paper as a form of short-term debt. NSTAR Electric is also a party to a five-year $650 million revolving credit facility, which terminates on October 13, 2028, that serves to backstop NSTAR Electric's $650 million commercial paper program.  

The amount of borrowings outstanding and available under the commercial paper programs were as follows:

	Borrowings Outstanding as of				Available Borrowing Capacity as of				Weighted-Average Interest Rate as of
	June 30, 2024		December 31, 2023		June 30, 2024		December 31, 2023		June 30, 2024		December 31, 2023
(Millions of Dollars)
Eversource Parent Commercial Paper Program	$	1,203.0	$	1,771.9	$	797.0	$	228.1	5.67	%	5.60	%
NSTAR Electric Commercial Paper Program	236.5		365.8		413.5		284.2		5.37	%	5.40	%

There were no borrowings outstanding on the revolving credit facilities as of June 30, 2024 or December 31, 2023.

CL&P and PSNH have uncommitted line of credit agreements totaling $375 million and $250 million, respectively, all of which will expire in either October 2024, May 2025 or September 2025. There are no borrowings outstanding on either the CL&P or PSNH uncommitted line of credit agreements as of June 30, 2024.

Amounts outstanding under the commercial paper programs are included in Notes Payable and classified in current liabilities on the Eversource and NSTAR Electric balance sheets, as all borrowings are outstanding for no more than 364 days at one time. As a result of the CL&P long-term debt issuance in January 2024, $207.3 million of commercial paper borrowings under the Eversource parent commercial paper program were reclassified to Long-Term Debt on Eversource parent’s balance sheet as of December 31, 2023. As a result of the Yankee Gas long-term debt issuances in July 2024, $37.9 million of commercial paper borrowings under the Eversource parent commercial paper program were reclassified to Long-Term Debt on Eversource parent’s balance sheet as of June 30, 2024.

Intercompany Borrowings: Eversource parent uses its available capital resources to provide loans to its subsidiaries to assist in meeting their short-term borrowing needs. Eversource parent records intercompany interest income from its loans to subsidiaries, which is eliminated in consolidation. Intercompany loans from Eversource parent to its subsidiaries are eliminated in consolidation on Eversource's balance sheets. As of June 30, 2024, there were intercompany loans from Eversource parent to CL&P of $407.8 million and to PSNH of $132.0 million. As of December 31, 2023, there were intercompany loans from Eversource parent to CL&P of $457.0 million and to PSNH of $233.0 million. Eversource parent charges interest on these intercompany loans at the same weighted-average interest rate as its commercial paper program. Intercompany loans from Eversource parent are included in Notes Payable to Eversource Parent and classified in current liabilities on the respective subsidiary's balance sheets, as these intercompany borrowings are outstanding for no more than 364 days at one time. As a result of the CL&P long-term debt issuance in January 2024, $207.3 million of CL&P’s intercompany borrowings were reclassified to Long-Term Debt on CL&P’s balance sheet as of December 31, 2023.

Sources and Uses of Cash: The Company expects the future operating cash flows of Eversource, CL&P, NSTAR Electric and PSNH, along with existing borrowing availability and access to both debt and equity markets, will be sufficient to meet any working capital and future operating requirements, and capital investment forecasted opportunities.

Long-Term Debt Issuance Authorizations: On February 8, 2024, the NHPUC approved PSNH’s request for authorization to issue up to $300 million in long-term debt through December 31, 2024. On May 1, 2024, the DPU approved NSTAR Electric’s request for authorization to issue up to $2.4 billion in long-term debt through December 31, 2026. On July 24, 2024, PURA approved CL&P’s request for authorization to issue up to $1.0 billion in long-term debt through December 31, 2025.

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Long-Term Debt Issuances and Repayments: The following table summarizes long-term debt issuances and repayments:

(Millions of Dollars)	Interest Rate		Issuance/(Repayment)		Issue Date or Repayment Date	Maturity Date	Use of Proceeds for Issuance/ Repayment Information
CL&P 2024 Series A First Mortgage Bonds	4.65	%	$	350.0	January 2024	January 2029	Repaid short-term debt, paid capital expenditures and working capital
NSTAR Electric 2024 Debentures	5.40	%	600.0		May 2024	June 2034	Repaid short-term debt, paid capital expenditures and working capital
PSNH Series X First Mortgage Bonds	5.35	%	300.0		April 2024	October 2033	Repaid short-term debt, paid capital expenditures and working capital
Eversource Parent Series DD Senior Notes	5.00	%	350.0		January 2024	January 2027	Repaid short-term debt
Eversource Parent Series EE Senior Notes	5.50	%	650.0		January 2024	January 2034	Repaid short-term debt
Eversource Parent Series FF Senior Notes	5.85	%	700.0		April 2024	April 2031	Repay Series X Senior Notes and Aquarion’s 2014 Senior Notes at maturity and short-term debt
Eversource Parent Series GG Senior Notes	5.95	%	700.0		April 2024	July 2034	Repay Series X Senior Notes and Aquarion’s 2014 Senior Notes at maturity and short-term debt
Eversource Parent Series X Senior Notes	4.20	%	(900.0)		June 2024	June 2024	Paid at maturity
NSTAR Gas Series W First Mortgage Bonds	5.29	%	160.0		June 2024	June 2029	Repaid short-term debt, paid capital expenditures and general corporate purchases
NSTAR Gas Series X First Mortgage Bonds	5.48	%	40.0		June 2024	June 2034	Repaid short-term debt, paid capital expenditures and general corporate purchases
Yankee Gas Series W First Mortgage Bonds	5.50	%	90.0		July 2024	July 2029	Repaid short-term debt, paid capital expenditures, working capital and repay Series P bonds at maturity
Yankee Gas Series X First Mortgage Bonds	5.74	%	90.0		July 2024	July 2034	Repaid short-term debt, paid capital expenditures, working capital and repay Series P bonds at maturity

As a result of the Yankee Gas long-term debt issuances in July 2024, $100.0 million of current portion of long-term debt was reclassified to Long-Term Debt on Eversource parent’s balance sheet as of June 30, 2024.

7.    RATE REDUCTION BONDS AND VARIABLE INTEREST ENTITIES

Rate Reduction Bonds: In May 2018, PSNH Funding, a wholly-owned subsidiary of PSNH, issued $635.7 million of securitized RRBs in multiple tranches with a weighted average interest rate of 3.66 percent, and final maturity dates ranging from 2026 to 2035.  The RRBs are expected to be repaid by February 1, 2033. RRB payments consist of principal and interest and are paid semi-annually, beginning on February 1, 2019. The RRBs were issued pursuant to a finance order issued by the NHPUC in January 2018 to recover remaining costs resulting from the divestiture of PSNH’s generation assets.

PSNH Funding was formed solely to issue RRBs to finance PSNH's unrecovered remaining costs associated with the divestiture of its generation assets. PSNH Funding is considered a VIE primarily because the equity capitalization is insufficient to support its operations. PSNH has the power to direct the significant activities of the VIE and is most closely associated with the VIE as compared to other interest holders. Therefore, PSNH is considered the primary beneficiary and consolidates PSNH Funding in its consolidated financial statements.

The following tables summarize the impact of PSNH Funding on PSNH's balance sheets and income statements:

(Millions of Dollars)
PSNH Balance Sheets:	As of June 30, 2024		As of December 31, 2023
Restricted Cash - Current Portion (included in Special Deposits)	$	29.0	$	30.0
Restricted Cash - Long-Term Portion (included in Other Long-Term Assets)	3.2		3.2
Securitized Stranded Cost (included in Regulatory Assets)	370.9		392.5
Other Regulatory Liabilities (included in Regulatory Liabilities)	4.7		5.3
Accrued Interest (included in Other Current Liabilities)	6.1		6.3
Rate Reduction Bonds - Current Portion	43.2		43.2
Rate Reduction Bonds - Long-Term Portion	345.7		367.3

(Millions of Dollars) PSNH Income Statements:	For the Three Months Ended				For the Six Months Ended
	June 30, 2024		June 30, 2023		June 30, 2024		June 30, 2023
Amortization of RRB Principal (included in Amortization of Regulatory Assets/(Liabilities), Net)	$	10.8	$	10.8	$	21.6	$	21.6
Interest Expense on RRB Principal (included in Interest Expense)	3.6		3.9		7.3		8.0

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8.    PENSION BENEFITS AND POSTRETIREMENT BENEFITS OTHER THAN PENSION

Eversource provides defined benefit retirement plans (Pension Plans) that cover eligible employees.  In addition to the Pension Plans, Eversource maintains non-qualified defined benefit retirement plans (SERP Plans), which provide benefits in excess of Internal Revenue Code limitations to eligible participants consisting of current and retired employees. Eversource also provides defined benefit postretirement plans (PBOP Plans) that provide life insurance and a health reimbursement arrangement created for the purpose of reimbursing retirees and dependents for health insurance premiums and certain medical expenses to eligible employees that meet certain age and service eligibility requirements.

The components of net periodic benefit plan expense/(income) for the Pension, SERP and PBOP Plans, prior to amounts capitalized as Property, Plant and Equipment or deferred as regulatory assets/(liabilities) for future recovery or refund, are shown below.  The service cost component of net periodic benefit plan expense/(income), less the capitalized portion, is included in Operations and Maintenance expense on the statements of income. The remaining components of net periodic benefit plan expense/(income), less the deferred portion, are included in Other Income, Net on the statements of income. Pension, SERP and PBOP expense reflected in the statements of cash flows for CL&P, NSTAR Electric and PSNH does not include intercompany allocations of net periodic benefit plan expense/(income), as these amounts are cash settled on a short-term basis.

	Pension and SERP								PBOP
	For the Three Months Ended June 30, 2024								For the Three Months Ended June 30, 2024
(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric		PSNH
Service Cost	$	11.2	$	3.3	$	1.9	$	1.1	$	1.8	$	0.3	$	0.3	$	0.2
Interest Cost	62.7		12.7		12.8		6.7		8.0		1.4		2.2		0.8
Expected Return on Plan Assets	(115.7)		(23.5)		(28.0)		(12.2)		(20.3)		(2.3)		(9.9)		(1.4)
Actuarial Loss/(Gain)	22.1		3.2		6.4		1.3		(0.1)		—		—		—
Prior Service Cost/(Credit)	0.3		—		0.1		—		(5.4)		0.2		(4.3)		0.1
Total Net Periodic Benefit Plan Income	$	(19.4)	$	(4.3)	$	(6.8)	$	(3.1)	$	(16.0)	$	(0.4)	$	(11.7)	$	(0.3)
Intercompany Income Allocations	N/A		$	(0.6)	$	(0.6)	$	(0.2)	N/A		$	(0.5)	$	(0.6)	$	(0.2)
	Pension and SERP								PBOP
	For the Six Months Ended June 30, 2024								For the Six Months Ended June 30, 2024
(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric		PSNH
Service Cost	$	22.0	$	6.2	$	4.0	$	2.1	$	3.5	$	0.6	$	0.6	$	0.3
Interest Cost	124.7		25.1		25.9		13.4		16.0		2.8		4.4		1.7
Expected Return on Plan Assets	(231.3)		(46.8)		(56.3)		(24.4)		(40.7)		(4.7)		(19.8)		(2.8)
Actuarial Loss/(Gain)	41.9		5.7		12.8		2.4		(0.2)		—		—		—
Prior Service Cost/(Credit)	0.6		—		0.2		—		(10.8)		0.5		(8.5)		0.2
Settlement Loss	4.3		—		—		—		—		—		—		—
Total Net Periodic Benefit Plan Income	$	(37.8)	$	(9.8)	$	(13.4)	$	(6.5)	$	(32.2)	$	(0.8)	$	(23.3)	$	(0.6)
Intercompany Income Allocations	N/A		$	(0.3)	$	(0.2)	$	(0.1)	N/A		$	(1.1)	$	(1.3)	$	(0.4)
	Pension and SERP								PBOP
	For the Three Months Ended June 30, 2023								For the Three Months Ended June 30, 2023
(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric		PSNH
Service Cost	$	10.7	$	3.1	$	1.9	$	1.1	$	2.0	$	0.3	$	0.3	$	0.2
Interest Cost	63.5		12.7		13.5		6.8		8.4		1.5		2.3		0.9
Expected Return on Plan Assets	(116.5)		(23.7)		(28.5)		(12.5)		(19.5)		(2.3)		(9.3)		(1.4)
Actuarial Loss	11.6		0.6		4.0		0.4		—		—		—		—
Prior Service Cost/(Credit)	0.3		—		0.1		—		(5.4)		0.3		(4.3)		0.1
Settlement Loss	3.7		—		—		—		—		—		—		—
Total Net Periodic Benefit Plan Income	$	(26.7)	$	(7.3)	$	(9.0)	$	(4.2)	$	(14.5)	$	(0.2)	$	(11.0)	$	(0.2)
Intercompany Income Allocations	N/A		$	(0.6)	$	(0.4)	$	(0.1)	N/A		$	(0.4)	$	(0.5)	$	(0.1)

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	Pension and SERP								PBOP
	For the Six Months Ended June 30, 2023								For the Six Months Ended June 30, 2023
(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric		PSNH
Service Cost	$	21.7	$	6.1	$	4.0	$	2.2	$	3.8	$	0.6	$	0.6	$	0.4
Interest Cost	127.2		25.3		27.0		13.6		16.9		3.1		4.6		1.8
Expected Return on Plan Assets	(232.4)		(47.1)		(56.9)		(24.8)		(38.6)		(4.7)		(18.5)		(2.8)
Actuarial Loss	24.1		1.4		8.9		0.8		—		—		—		—
Prior Service Cost/(Credit)	0.6		—		0.2		—		(10.8)		0.6		(8.5)		0.2
Settlement Loss	3.7		—		—		—		—		—		—		—
Total Net Periodic Benefit Plan Income	$	(55.1)	$	(14.3)	$	(16.8)	$	(8.2)	$	(28.7)	$	(0.4)	$	(21.8)	$	(0.4)
Intercompany Income Allocations	N/A		$	(2.6)	$	(2.1)	$	(0.6)	N/A		$	(0.9)	$	(1.1)	$	(0.3)

9.    COMMITMENTS AND CONTINGENCIES

A.    Environmental Matters

Eversource, CL&P, NSTAR Electric and PSNH are subject to environmental laws and regulations intended to mitigate or remove the effect of past operations and improve or maintain the quality of the environment. These laws and regulations require the removal or the remedy of the effect on the environment of the disposal or release of certain specified hazardous substances at current and former operating sites. Eversource, CL&P, NSTAR Electric and PSNH have an active environmental auditing and training program and each believes it is substantially in compliance with all enacted laws and regulations.

The number of environmental sites and related reserves for which remediation or long-term monitoring, preliminary site work or site assessment is being performed are as follows:

	As of June 30, 2024			As of December 31, 2023
	Number of Sites	Reserve (in millions)		Number of Sites	Reserve (in millions)
Eversource	66	$	127.1	65	$	128.2
CL&P	16	13.4		16	13.8
NSTAR Electric	13	5.9		12	5.4
PSNH	8	6.5		8	7.6

Included in the number of sites and reserve amounts above are former MGP sites that were operated several decades ago and manufactured natural gas from coal and other processes, which resulted in certain by-products remaining in the environment that may pose a potential risk to human health and the environment, for which Eversource may have potential liability.  Eversource’s reserve balances related to these former MGP sites were $115.5 million and $117.1 million as of June 30, 2024 and December 31, 2023, respectively, and related primarily to the natural gas business segment.

These reserve estimates are subjective in nature as they take into consideration several different remediation options at each specific site.  The reliability and precision of these estimates can be affected by several factors, including new information concerning either the level of contamination at the site, the extent of Eversource's, CL&P's, NSTAR Electric's and PSNH's responsibility for remediation or the extent of remediation required, recently enacted laws and regulations or changes in cost estimates due to certain economic factors.  It is possible that new information or future developments could require a reassessment of the potential exposure to required environmental remediation.  As this information becomes available, management will continue to assess the potential exposure and adjust the reserves accordingly.

B.    Long-Term Contractual Arrangements

The following is an update to the current status of long-term contractual arrangements set forth in Note 13B of the Eversource 2023 Form 10-K.

Renewable Energy: Renewable energy contracts include non-cancelable commitments under contracts of CL&P for the purchase of energy and capacity from renewable energy facilities. The table now includes the long-term commitments of CL&P pertaining to renewable energy purchase contracts that have now commenced significant construction activities.

CL&P
(Millions of Dollars)	2024		2025		2026		2027		2028		Thereafter		Total
Renewable Energy	$	338.1	$	651.3	$	728.7	$	732.3	$	734.5	$	3,798.2	$	6,983.1

Additionally, Renewable Energy contract costs within long-term contractual arrangements at PSNH as of December 31, 2023 included renewable energy purchase contracts related to the purchase of capacity, energy and RECs from a New Hampshire generation plant totaling $503.2 million. The NHPUC approved the termination of the PPA related to this generation plant effective February 29, 2024. As of June 30, 2024, there are no remaining long-term renewable energy purchase contracts at PSNH.

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C.    Guarantees and Indemnifications

In the normal course of business, Eversource parent provides credit assurances on behalf of its subsidiaries, including CL&P, NSTAR Electric and PSNH, in the form of guarantees. Management does not anticipate a material impact to net income or cash flows as a result of these various guarantees and indemnifications. 

Guarantees issued on behalf of unconsolidated entities, including equity method offshore wind investments, for which Eversource parent is the guarantor, are recorded at fair value as a liability on the balance sheet at the inception of the guarantee. The fair value of guarantees issued on behalf of unconsolidated entities are recorded within Other Long-Term Liabilities on the balance sheet, and were $1.9 million and $4.4 million as of June 30, 2024 and December 31, 2023, respectively. Eversource regularly reviews performance risk under these guarantee arrangements, and believes the likelihood of payments being required under the guarantees is remote. In the event it becomes probable that Eversource parent will be required to perform under the guarantee, the amount of probable payment will be recorded.

The following table summarizes Eversource parent's exposure to guarantees and indemnifications of its subsidiaries and affiliates to external parties, and primarily relates to its offshore wind business:  

As of June 30, 2024
Company (Obligor)	Description	Maximum Exposure (in millions)
North East Offshore, LLC, Sunrise Wind LLC, Revolution Wind, LLC and South Fork Wind, LLC	Offshore wind construction-related purchase agreements with third-party contractors (1) (7)	$	1,418.1
Eversource Investment LLC and South Fork Class B Member, LLC	Funding and indemnification obligations of South Fork Wind and North East Offshore, LLC (2)	333.9
Eversource Investment LLC	Letters of Credit (3) (7)	23.2
Eversource TEI LLC	South Fork Wind Tax Equity (4)	50.0
South Fork Wind, LLC	Power Purchase Agreement Security (5)	7.1
Various Eversource subsidiaries	Surety bonds (6)	35.1

(1)    Eversource parent issued guarantees on behalf of its 50 percent-owned affiliates, North East Offshore, LLC (NEO), Sunrise Wind LLC, Revolution Wind, LLC and South Fork Wind, LLC, under which Eversource parent agreed to guarantee each entity’s performance of obligations under certain construction-related purchase agreements with third-party contractors, in an aggregate amount not to exceed $2.83 billion. Eversource parent’s obligations under the guarantees expire upon the earlier of (i) dates ranging between October 2024 and October 2028 and (ii) full performance of the guaranteed obligations. Eversource parent also issued a separate guarantee to Ørsted on behalf of NEO, under which Eversource parent agreed to guarantee 50 percent of NEO’s payment obligations under certain offshore wind project construction-related agreements with Ørsted in an aggregate amount not to exceed $62.5 million and expiring upon full performance of the guaranteed obligation.

(2)     Eversource parent issued guarantees on behalf of its wholly-owned subsidiary Eversource Investment LLC (EI), which holds Eversource's investments in offshore wind-related equity method investments, and on behalf of its 50 percent-owned affiliate, South Fork Class B Member, LLC, whereby Eversource parent will guarantee each entity’s performance of certain capital expenditure funding obligations during the construction phases of the South Fork Wind project and NEO’s underlying offshore wind projects. Eversource parent also guaranteed certain indemnification obligations of EI associated with third party credit support for EI’s investment in NEO. These guarantees will not exceed $1.52 billion and expire upon the full performance of the guaranteed obligations.

(3)    Eversource parent entered into a guarantee on behalf of EI, under which Eversource parent would guarantee EI's obligations under a letter of credit facility with a financial institution that EI may request in an aggregate amount of up to approximately $25 million. As of June 30, 2024, EI has issued letters of credit on behalf of South Fork Wind, LLC, Sunrise Wind LLC and Revolution Wind, LLC totaling $23.2 million. The guarantee will remain in effect until full performance of the guaranteed obligations.

(4)    Eversource parent issued a guarantee on behalf of its wholly-owned subsidiary, Eversource TEI LLC, whereby Eversource parent will guarantee Eversource TEI LLC’s performance of certain obligations, in an amount not to exceed $50.0 million, in connection with any remaining obligations under the LLC agreement. Eversource parent’s obligations expire upon the full performance of the guaranteed obligations.

(5)    Eversource parent issued a guarantee on behalf of its 50 percent-owned affiliate, South Fork Wind, LLC, whereby Eversource parent will guarantee South Fork Wind, LLC's performance of certain obligations, in an amount not to exceed $7.1 million, under a Power Purchase Agreement between the Long Island Power Authority and South Fork Wind, LLC (the Agreement). The guarantee expires upon the later of (i) the end of the Agreement term and (ii) full performance of the guaranteed obligations.

(6)    Surety bonds expire in 2024 and 2025. Expiration dates reflect termination dates, the majority of which will be renewed or extended.  Certain surety bonds contain credit ratings triggers that would require Eversource parent to post collateral in the event that the unsecured debt credit ratings of Eversource parent are downgraded.

(7)    On July 9, 2024, Eversource completed the sale to Ørsted of its 50 percent ownership interest in Sunrise Wind. In connection with the sale, (i) existing Eversource parent guarantees on behalf of Sunrise Wind of obligations under certain construction-related purchase agreements with third-party contractors with a maximum exposure of $557.2 million, and (ii) $17.8 million of letters of credit under a letter of credit facility with a financial institution on behalf of Sunrise Wind, all reflected in the table above as of June 30, 2024, were terminated.

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In addition, an existing guarantee agreement on behalf of NEO, that also included Sunrise Wind, with a maximum exposure of $1.2 billion ($598.6 million of which is reflected in the above table as of June 30, 2024) was terminated. Concurrent with the termination of that guarantee agreement, Eversource parent entered into a new guarantee agreement on behalf of TurbineCo, LLC (successor in interest to NEO), that also includes Sunrise Wind, with a maximum exposure of $523.8 million. However, Ørsted has agreed to indemnify Eversource parent for all claims under that new guarantee agreement related to the performance of Sunrise Wind.

D.     Spent Nuclear Fuel Obligations - Yankee Companies

CL&P, NSTAR Electric and PSNH have plant closure and fuel storage cost obligations to the Yankee Companies, which have each completed the physical decommissioning of their respective nuclear power facilities and are now engaged in the long-term storage of their spent fuel. The Yankee Companies fund these costs through litigation proceeds received from the DOE and, to the extent necessary, through wholesale, FERC-approved rates charged under power purchase agreements with several New England utilities, including CL&P, NSTAR Electric and PSNH. CL&P, NSTAR Electric and PSNH, in turn recover these costs from their customers through state regulatory commission-approved retail rates. The Yankee Companies collect amounts that management believes are adequate to recover the remaining plant closure and fuel storage cost estimates for the respective plants. Management believes CL&P and NSTAR Electric will recover their shares of these obligations from their customers. PSNH has recovered its total share of these costs from its customers.

Spent Nuclear Fuel Litigation:

The Yankee Companies have filed complaints against the DOE in the Court of Federal Claims seeking monetary damages resulting from the DOE's failure to accept delivery of, and provide for a permanent facility to store, spent nuclear fuel pursuant to the terms of the 1983 spent fuel and high-level waste disposal contracts between the Yankee Companies and the DOE. The court previously awarded the Yankee Companies damages for Phases I, II, III and IV of litigation resulting from the DOE's failure to meet its contractual obligations. These Phases covered damages incurred in the years 1998 through 2016, and the awarded damages have been received by the Yankee Companies with certain amounts of the damages refunded to their customers.

DOE Phase V Damages - On March 25, 2021, each of the Yankee Companies filed a fifth set of lawsuits against the DOE in the Court of Federal Claims resulting from the DOE's failure to begin accepting spent nuclear fuel for disposal covering the years from 2017 to 2020. The Yankee Companies filed claims seeking monetary damages totaling $120.4 million for CYAPC, YAEC and MYAPC. Pursuant to a June 2, 2022 court order, the Yankee Companies were subsequently permitted to include monetary damages relating to the year 2021 in the DOE Phase V complaint. The Yankee Companies submitted a supplemental filing to include these costs of $33.1 million on June 8, 2022. In June 2024, the court set dates for the DOE Phase V trial of October 28, 2024 through November 8, 2024.

E.    FERC ROE Complaints

Four separate complaints were filed at the FERC by combinations of New England state attorneys general, state regulatory commissions, consumer advocates, consumer groups, municipal parties and other parties (collectively, the Complainants). In each of the first three complaints, filed on October 1, 2011, December 27, 2012, and July 31, 2014, respectively, the Complainants challenged the NETOs' base ROE of 11.14 percent that had been utilized since 2005 and sought an order to reduce it prospectively from the date of the final FERC order and for the separate 15-month complaint periods. In the fourth complaint, filed April 29, 2016, the Complainants challenged the NETOs' base ROE billed of 10.57 percent and the maximum ROE for transmission incentive (incentive cap) of 11.74 percent, asserting that these ROEs were unjust and unreasonable.

The ROE originally billed during the period October 1, 2011 (beginning of the first complaint period) through October 15, 2014 consisted of a base ROE of 11.14 percent and incentives up to 13.1 percent. On October 16, 2014, FERC issued Opinion No. 531-A and set the base ROE at 10.57 percent and the incentive cap at 11.74 percent for the first complaint period. This was also effective for all prospective billings to customers beginning October 16, 2014. This FERC order was vacated on April 14, 2017 by the U.S. Court of Appeals for the D.C. Circuit (the Court).

All amounts associated with the first complaint period have been refunded, which totaled $38.9 million (pre-tax and excluding interest) at Eversource and reflected both the base ROE and incentive cap prescribed by the FERC order. The refund consisted of $22.4 million for CL&P, $13.7 million for NSTAR Electric and $2.8 million for PSNH.

Eversource has recorded a reserve of $39.1 million (pre-tax and excluding interest) for the second complaint period as of both June 30, 2024 and December 31, 2023. This reserve represents the difference between the billed rates during the second complaint period and a 10.57 percent base ROE and 11.74 percent incentive cap. The reserve consisted of $21.4 million for CL&P, $14.6 million for NSTAR Electric and $3.1 million for PSNH as of both June 30, 2024 and December 31, 2023.

On October 16, 2018, FERC issued an order on all four complaints describing how it intends to address the issues that were remanded by the Court. FERC proposed a new framework to determine (1) whether an existing ROE is unjust and unreasonable and, if so, (2) how to calculate a replacement ROE. Initial briefs were filed by the NETOs, Complainants and FERC Trial Staff on January 11, 2019 and reply briefs were filed on March 8, 2019. The NETOs' brief was supportive of the overall ROE methodology determined in the October 16, 2018 order provided the FERC does not change the proposed methodology or alter its implementation in a manner that has a material impact on the results.

The FERC order included illustrative calculations for the first complaint using FERC's proposed frameworks with financial data from that complaint. Those illustrative calculations indicated that for the first complaint period, for the NETOs, which FERC concludes are of average financial risk, the preliminary just and reasonable base ROE is 10.41 percent and the preliminary incentive cap on total ROE is 13.08 percent.

If the results of the illustrative calculations were included in a final FERC order for each of the complaint periods, then a 10.41 percent base ROE and a 13.08 percent incentive cap would not have a significant impact on our financial statements for all of the complaint periods. These preliminary calculations are not binding and do not represent what we believe to be the most likely outcome of a final FERC order.

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On November 21, 2019, FERC issued Opinion No. 569 affecting the two pending transmission ROE complaints against the Midcontinent ISO (MISO) transmission owners, in which FERC adopted a new methodology for determining base ROEs. Various parties sought rehearing. On December 23, 2019, the NETOs filed supplementary materials in the NETOs' four pending cases to respond to this new methodology because of the uncertainty of the applicability to the NETOs' cases. On May 21, 2020, the FERC issued its order in Opinion No. 569-A on the rehearing of the MISO transmission owners' cases, in which FERC again changed its methodology for determining the MISO transmission owners' base ROEs. On November 19, 2020, the FERC issued Opinion No. 569-B denying rehearing of Opinion No. 569-A and reaffirmed the methodology previously adopted in Opinion No. 569-A. The new methodology differs significantly from the methodology proposed by FERC in its October 16, 2018 order to determine the NETOs' base ROEs in its four pending cases. FERC Opinion Nos. 569-A and 569-B were appealed to the Court. On August 9, 2022, the Court issued its decision vacating MISO ROE FERC Opinion Nos. 569, 569-A and 569-B and remanded to FERC to reopen the proceedings. The Court found that FERC’s development of the new return methodology was arbitrary and capricious due to FERC’s failure to offer a reasonable explanation for its decision to reintroduce the risk-premium financial model in its new methodology for calculating a just and reasonable return. At this time, Eversource cannot predict how and when FERC will address the Court’s findings on the remand of the MISO FERC opinions or any potential associated impact on the NETOs’ four pending ROE complaint cases.

Given the significant uncertainty regarding the applicability of the FERC opinions in the MISO transmission owners’ two complaint cases to the NETOs’ pending four complaint cases, Eversource concluded that there is no reasonable basis for a change to the reserve or recognized ROEs for any of the complaint periods at this time. As well, Eversource cannot reasonably estimate a range of loss for any of the four complaint proceedings at this time.

Eversource, CL&P, NSTAR Electric and PSNH currently record revenues at the 10.57 percent base ROE and incentive cap at 11.74 percent established in the October 16, 2014 FERC order.

A change of 10 basis points to the base ROE used to establish the reserves would impact Eversource’s after-tax earnings by an average of approximately $3 million for each of the four 15-month complaint periods.

10.    FAIR VALUE OF FINANCIAL INSTRUMENTS

The following methods and assumptions were used to estimate the fair value of each of the following financial instruments:

Preferred Stock, Long-Term Debt and Rate Reduction Bonds:  The fair value of CL&P's and NSTAR Electric's preferred stock is based upon pricing models that incorporate interest rates and other market factors, valuations or trades of similar securities and cash flow projections.  The fair value of long-term debt and RRB debt securities is based upon pricing models that incorporate quoted market prices for those issues or similar issues adjusted for market conditions, credit ratings of the respective companies and treasury benchmark yields.  The fair values provided in the table below are classified as Level 2 within the fair value hierarchy.  Carrying amounts and estimated fair values are as follows:

	Eversource				CL&P				NSTAR Electric				PSNH
(Millions of Dollars)	Carrying Amount		Fair Value		Carrying Amount		Fair Value		Carrying Amount		Fair Value		Carrying Amount		Fair Value
As of June 30, 2024:
Preferred Stock Not Subject to Mandatory Redemption	$	155.6	$	121.8	$	116.2	$	89.6	$	43.0	$	32.2	$	—	$	—
Long-Term Debt	27,164.3		25,027.7		4,954.1		4,537.7		5,093.0		4,723.9		1,731.5		1,527.2
Rate Reduction Bonds	388.9		368.8		—		—		—		—		388.9		368.8
As of December 31, 2023:
Preferred Stock Not Subject to Mandatory Redemption	$	155.6	$	122.2	$	116.2	$	90.4	$	43.0	$	31.8	$	—	$	—
Long-Term Debt	24,413.5		22,855.2		4,814.4		4,572.0		4,496.9		4,273.7		1,431.6		1,292.6
Rate Reduction Bonds	410.5		395.0		—		—		—		—		410.5		395.0

Derivative Instruments and Marketable Securities: Derivative instruments and investments in marketable securities are carried at fair value.  For further information, see Note 4, "Derivative Instruments," and Note 5, "Marketable Securities," to the financial statements.  

See Note 1C, "Summary of Significant Accounting Policies – Fair Value Measurements," for the fair value measurement policy and the fair value hierarchy.

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11.    ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS)

The changes in accumulated other comprehensive income/(loss) by component, net of tax, are as follows:

	For the Six Months Ended June 30, 2024						For the Six Months Ended June 30, 2023
Eversource (Millions of Dollars)	Qualified Cash Flow Hedging Instruments		Defined Benefit Plans		Total		Qualified Cash Flow Hedging Instruments		Unrealized Gains/(Losses) on Marketable Securities		Defined Benefit Plans		Total
Balance as of Beginning of Period	$	(0.4)	$	(33.3)	$	(33.7)	$	(0.4)	$	(1.2)	$	(37.8)	$	(39.4)
OCI Before Reclassifications	—		(0.9)		(0.9)		—		—		0.1		0.1
Amounts Reclassified from AOCI	—		5.0		5.0		—		1.2		6.0		7.2
Net OCI	—		4.1		4.1		—		1.2		6.1		7.3
Balance as of End of Period	$	(0.4)	$	(29.2)	$	(29.6)	$	(0.4)	$	—	$	(31.7)	$	(32.1)

Defined benefit plan OCI amounts before reclassifications relate to actuarial gains and losses that arose during the year and were recognized in AOCI. The unamortized actuarial gains and losses and prior service costs on the defined benefit plans are amortized from AOCI into Other Income, Net over the average future employee service period, and are reflected in amounts reclassified from AOCI.

12.    COMMON SHARES

The following table sets forth the Eversource parent common shares and the shares of common stock of CL&P, NSTAR Electric and PSNH that were authorized and issued, as well as the respective per share par values:  

	Shares
			Authorized as of June 30, 2024 and December 31, 2023	Issued as of
	Par Value			June 30, 2024	December 31, 2023
Eversource	$	5	410,000,000	364,190,722	359,984,073
CL&P	$	10	24,500,000	6,035,205	6,035,205
NSTAR Electric	$	1	100,000,000	200	200
PSNH	$	1	100,000,000	301	301

Common Share Issuances and Equity Distribution Agreement: On May 11, 2022, Eversource entered into an equity distribution agreement pursuant to which it may offer and sell up to $1.2 billion of its common shares from time to time through an “at-the-market” (ATM) equity offering program. Eversource may issue and sell its common shares through its sales agents during the term of this agreement. Shares may be offered in transactions on the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise. Sales may be made at either market prices prevailing at the time of sale, at prices related to such prevailing market prices or at negotiated prices. In the first six months of 2024, Eversource issued 4,206,649 common shares, which resulted in proceeds of $248.2 million, net of issuance costs. Eversource used the net proceeds received for general corporate purposes. In 2023, no shares were issued under this agreement.

Treasury Shares: As of June 30, 2024 and December 31, 2023, there were 9,624,651 and 10,443,807 Eversource common shares held as treasury shares, respectively. As of June 30, 2024 and December 31, 2023, there were 354,566,071 and 349,540,266 Eversource common shares outstanding, respectively.

Eversource issues treasury shares to satisfy awards under the Company's incentive plans, shares issued under the dividend reinvestment and share purchase plan, and matching contributions under the Eversource 401k Plan. The issuance of treasury shares represents a non-cash transaction, as the treasury shares were used to fulfill Eversource's obligations that require the issuance of common shares.

13.    COMMON SHAREHOLDERS' EQUITY AND NONCONTROLLING INTERESTS

Dividends on the preferred stock of CL&P and NSTAR Electric totaled $1.9 million for each of the three months ended June 30, 2024 and 2023 and $3.8 million for each of the six months ended June 30, 2024 and 2023. These dividends were presented as Net Income Attributable to Noncontrolling Interests on the Eversource statements of income. Noncontrolling Interest – Preferred Stock of Subsidiaries on the Eversource balance sheets totaled $155.6 million as of June 30, 2024 and December 31, 2023. On the Eversource balance sheets, Common Shareholders' Equity was fully attributable to Eversource parent and Noncontrolling Interest – Preferred Stock of Subsidiaries was fully attributable to the noncontrolling interest.

14.    EARNINGS PER SHARE

Basic EPS is computed based upon the weighted average number of common shares outstanding during each period.  Diluted EPS is computed on the basis of the weighted average number of common shares outstanding plus the potential dilutive effect of certain share-based compensation awards as if they were converted into outstanding common shares.  The dilutive effect of unvested RSU and performance share awards is calculated using the treasury stock method.  RSU and performance share awards are included in basic weighted average common shares outstanding as of the date that all necessary vesting conditions have been satisfied. For the three and six months ended June 30, 2024 and 2023, there were no antidilutive share awards excluded from the computation of diluted EPS.

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The following table sets forth the components of basic and diluted EPS:

Eversource (Millions of Dollars, except share information)	For the Three Months Ended				For the Six Months Ended
	June 30, 2024		June 30, 2023		June 30, 2024		June 30, 2023
Net Income Attributable to Common Shareholders	$	335.3	$	15.4	$	857.2	$	506.6
Weighted Average Common Shares Outstanding:
Basic	353,212,378		349,462,359		351,964,747		349,339,752
Dilutive Effect	207,280		267,623		243,693		331,244
Diluted	353,419,658		349,729,982		352,208,440		349,670,996
Basic EPS	$	0.95	$	0.04	$	2.44	$	1.45
Diluted EPS	$	0.95	$	0.04	$	2.43	$	1.45

15.    REVENUES

The following tables present operating revenues disaggregated by revenue source:

	For the Three Months Ended June 30, 2024
Eversource (Millions of Dollars)	Electric Distribution		Natural Gas Distribution		Electric Transmission		Water Distribution		Other		Eliminations		Total
Revenues from Contracts with Customers
Retail Tariff Sales
Residential	$	1,027.5	$	204.1	$	—	$	37.8	$	—	$	—	$	1,269.4
Commercial	683.2		116.4		—		18.2		—		(1.5)		816.3
Industrial	89.9		35.6		—		1.1		—		(6.0)		120.6
Total Retail Tariff Sales Revenues	1,800.6		356.1		—		57.1		—		(7.5)		2,206.3
Wholesale Transmission Revenues	—		—		512.9		—		—		(396.1)		116.8
Wholesale Market Sales Revenues	132.0		35.0		—		1.0		—		—		168.0
Other Revenues from Contracts with Customers	16.1		1.5		3.6		1.5		395.2		(393.7)		24.2
Total Revenues from Contracts with Customers	1,948.7		392.6		516.5		59.6		395.2		(797.3)		2,515.3
Alternative Revenue Programs	14.0		0.2		17.5		(2.4)		—		(15.8)		13.5
Other Revenues	3.6		0.7		0.1		0.3		—		—		4.7
Total Operating Revenues	$	1,966.3	$	393.5	$	534.1	$	57.5	$	395.2	$	(813.1)	$	2,533.5
	For the Six Months Ended June 30, 2024
Eversource (Millions of Dollars)	Electric Distribution		Natural Gas Distribution		Electric Transmission		Water Distribution		Other		Eliminations		Total
Revenues from Contracts with Customers
Retail Tariff Sales
Residential	$	2,281.6	$	711.7	$	—	$	68.0	$	—	$	—	$	3,061.3
Commercial	1,390.7		363.4		—		34.4		—		(3.2)		1,785.3
Industrial	177.6		95.4		—		2.2		—		(11.1)		264.1
Total Retail Tariff Sales Revenues	3,849.9		1,170.5		—		104.6		—		(14.3)		5,110.7
Wholesale Transmission Revenues	—		—		987.0		—		—		(757.7)		229.3
Wholesale Market Sales Revenues	297.3		93.3		—		1.9		—		—		392.5
Other Revenues from Contracts with Customers	44.5		2.6		7.6		1.3		838.8		(835.2)		59.6
Total Revenues from Contracts with Customers	4,191.7		1,266.4		994.6		107.8		838.8		(1,607.2)		5,792.1
Alternative Revenue Programs	27.3		31.6		47.0		(0.7)		—		(42.6)		62.6
Other Revenues	9.0		1.5		0.3		0.6		—		—		11.4
Total Operating Revenues	$	4,228.0	$	1,299.5	$	1,041.9	$	107.7	$	838.8	$	(1,649.8)	$	5,866.1

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	For the Three Months Ended June 30, 2023
Eversource (Millions of Dollars)	Electric Distribution		Natural Gas Distribution		Electric Transmission		Water Distribution		Other		Eliminations		Total
Revenues from Contracts with Customers
Retail Tariff Sales
Residential	$	1,142.2	$	198.4	$	—	$	38.9	$	—	$	—	$	1,379.5
Commercial	692.1		129.9		—		18.2		—		(1.2)		839.0
Industrial	84.9		41.9		—		1.1		—		(4.7)		123.2
Total Retail Tariff Sales Revenues	1,919.2		370.2		—		58.2		—		(5.9)		2,341.7
Wholesale Transmission Revenues	—		—		403.0		—		—		(303.8)		99.2
Wholesale Market Sales Revenues	112.3		39.8		—		1.0		—		—		153.1
Other Revenues from Contracts with Customers	21.0		1.1		4.5		2.0		408.8		(405.8)		31.6
Total Revenues from Contracts with Customers	2,052.5		411.1		407.5		61.2		408.8		(715.5)		2,625.6
Alternative Revenue Programs	(3.0)		(3.1)		72.5		(3.4)		—		(65.7)		(2.7)
Other Revenues	4.9		1.1		0.1		0.3		—		—		6.4
Total Operating Revenues	$	2,054.4	$	409.1	$	480.1	$	58.1	$	408.8	$	(781.2)	$	2,629.3
	For the Six Months Ended June 30, 2023
Eversource (Millions of Dollars)	Electric Distribution		Natural Gas Distribution		Electric Transmission		Water Distribution		Other		Eliminations		Total
Revenues from Contracts with Customers
Retail Tariff Sales
Residential	$	2,606.2	$	774.9	$	—	$	67.9	$	—	$	—	$	3,449.0
Commercial	1,480.5		450.0		—		33.7		—		(2.3)		1,961.9
Industrial	174.1		111.4		—		2.1		—		(9.7)		277.9
Total Retail Tariff Sales Revenues	4,260.8		1,336.3		—		103.7		—		(12.0)		5,688.8
Wholesale Transmission Revenues	—		—		838.1		—		—		(629.1)		209.0
Wholesale Market Sales Revenues	329.6		88.9		—		1.8		—		—		420.3
Other Revenues from Contracts with Customers	39.2		2.7		9.1		4.0		822.7		(818.3)		59.4
Total Revenues from Contracts with Customers	4,629.6		1,427.9		847.2		109.5		822.7		(1,459.4)		6,377.5
Alternative Revenue Programs	3.1		24.3		91.2		(1.7)		—		(82.7)		34.2
Other Revenues	10.3		2.1		0.4		0.5		—		—		13.3
Total Operating Revenues	$	4,643.0	$	1,454.3	$	938.8	$	108.3	$	822.7	$	(1,542.1)	$	6,425.0

	For the Three Months Ended June 30, 2024						For the Three Months Ended June 30, 2023
(Millions of Dollars)	CL&P		NSTAR Electric		PSNH		CL&P		NSTAR Electric		PSNH
Revenues from Contracts with Customers
Retail Tariff Sales
Residential	$	513.7	$	380.2	$	133.6	$	593.7	$	370.5	$	178.0
Commercial	248.0		354.4		81.1		255.0		347.2		90.2
Industrial	32.6		30.2		27.1		31.3		31.1		22.5
Total Retail Tariff Sales Revenues	794.3		764.8		241.8		880.0		748.8		290.7
Wholesale Transmission Revenues	218.8		200.9		93.2		172.5		166.9		63.6
Wholesale Market Sales Revenues	97.4		27.0		7.6		62.9		32.5		16.9
Other Revenues from Contracts with Customers	1.5		13.3		5.5		8.8		12.9		4.4
Total Revenues from Contracts with Customers	1,112.0		1,006.0		348.1		1,124.2		961.1		375.6
Alternative Revenue Programs	23.9		4.2		3.4		52.6		(5.0)		21.9
Other Revenues	1.5		1.6		0.6		2.5		1.8		0.7
Eliminations	(172.8)		(166.7)		(64.8)		(145.2)		(138.9)		(48.1)
Total Operating Revenues	$	964.6	$	845.1	$	287.3	$	1,034.1	$	819.0	$	350.1

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	For the Six Months Ended June 30, 2024						For the Six Months Ended June 30, 2023
(Millions of Dollars)	CL&P		NSTAR Electric		PSNH		CL&P		NSTAR Electric		PSNH
Revenues from Contracts with Customers
Retail Tariff Sales
Residential	$	1,140.6	$	842.4	$	298.6	$	1,355.9	$	838.3	$	412.0
Commercial	500.4		727.9		163.1		550.3		731.5		198.8
Industrial	65.8		60.1		51.7		65.2		63.8		45.1
Total Retail Tariff Sales Revenues	1,706.8		1,630.4		513.4		1,971.4		1,633.6		655.9
Wholesale Transmission Revenues	419.5		389.7		177.8		368.3		334.7		135.1
Wholesale Market Sales Revenues	218.6		58.6		20.1		217.6		73.6		38.4
Other Revenues from Contracts with Customers	18.0		24.4		10.7		18.7		23.6		7.3
Total Revenues from Contracts with Customers	2,362.9		2,103.1		722.0		2,576.0		2,065.5		836.7
Alternative Revenue Programs	51.3		12.0		11.0		77.3		(14.5)		31.5
Other Revenues	4.3		3.6		1.4		4.7		4.3		1.7
Eliminations	(332.6)		(326.0)		(121.0)		(284.9)		(280.0)		(99.7)
Total Operating Revenues	$	2,085.9	$	1,792.7	$	613.4	$	2,373.1	$	1,775.3	$	770.2

16.    SEGMENT INFORMATION

Eversource is organized into the Electric Distribution, Electric Transmission, Natural Gas Distribution and Water Distribution reportable segments and Other based on a combination of factors, including the characteristics of each segments' services, the sources of operating revenues and expenses and the regulatory environment in which each segment operates.  These reportable segments represent substantially all of Eversource's total consolidated revenues.  Revenues from the sale of electricity, natural gas and water primarily are derived from residential, commercial and industrial customers and are not dependent on any single customer.  The Electric Distribution reportable segment includes the results of NSTAR Electric's solar power facilities. Eversource's reportable segments are determined based upon the level at which Eversource's chief operating decision maker assesses performance and makes decisions about the allocation of company resources.

The remainder of Eversource's operations is presented as Other in the tables below and primarily consists of 1) the equity in earnings of Eversource parent from its subsidiaries and intercompany interest income, both of which are eliminated in consolidation, and interest expense related to the debt of Eversource parent, 2) the revenues and expenses of Eversource Service, most of which are eliminated in consolidation, 3) the operations of CYAPC and YAEC, 4) the results of other unregulated subsidiaries, which are not part of its core business, and 5) Eversource parent's equity ownership interests that are not consolidated, which primarily include the offshore wind business, a natural gas pipeline owned by Enbridge, Inc., and a renewable energy investment fund that was liquidated in the first quarter of 2023.

In the ordinary course of business, Yankee Gas, NSTAR Gas and EGMA purchase natural gas transmission services from the Enbridge, Inc. natural gas pipeline project described above. These affiliate transaction costs total $77.7 million annually and are classified as Purchased Power, Purchased Natural Gas and Transmission on the Eversource statements of income.

Each of Eversource's subsidiaries, including CL&P, NSTAR Electric and PSNH, has one reportable segment.

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Cash flows used for investments in plant included in the segment information below are cash capital expenditures that do not include amounts incurred on capital projects but not yet paid, cost of removal, AFUDC related to equity funds, and the capitalized and deferred portions of pension and PBOP income/expense.  Eversource's segment information is as follows:

	For the Three Months Ended June 30, 2024
Eversource (Millions of Dollars)	Electric Distribution		Natural Gas Distribution		Electric Transmission		Water Distribution		Other		Eliminations		Total
Operating Revenues	$	1,966.3	$	393.5	$	534.1	$	57.5	$	395.2	$	(813.1)	$	2,533.5
Depreciation and Amortization	(34.9)		(50.1)		(98.8)		(10.8)		(48.5)		2.7		(240.4)
Other Operating Expenses	(1,713.6)		(295.2)		(147.1)		(30.9)		(314.2)		810.4		(1,690.6)
Operating Income	$	217.8	$	48.2	$	288.2	$	15.8	$	32.5	$	—	$	602.5
Interest Expense	$	(90.9)	$	(22.3)	$	(46.0)	$	(9.7)	$	(161.0)	$	58.6	$	(271.3)
Other Income, Net	67.0		10.9		12.2		0.6		473.5		(448.9)		115.3
Net Income Attributable to Common Shareholders	149.7		27.1		189.0		8.0		351.8		(390.3)		335.3
	For the Six Months Ended June 30, 2024
Eversource (Millions of Dollars)	Electric Distribution		Natural Gas Distribution		Electric Transmission		Water Distribution		Other		Eliminations		Total
Operating Revenues	$	4,228.0	$	1,299.5	$	1,041.9	$	107.7	$	838.8	$	(1,649.8)	$	5,866.1
Depreciation and Amortization	(144.6)		(133.2)		(199.8)		(11.5)		(94.1)		5.2		(578.0)
Other Operating Expenses	(3,618.7)		(849.8)		(289.0)		(63.0)		(663.7)		1,644.6		(3,839.6)
Operating Income	$	464.7	$	316.5	$	553.1	$	33.2	$	81.0	$	—	$	1,448.5
Interest Expense	$	(173.4)	$	(46.8)	$	(86.9)	$	(21.1)	$	(307.2)	$	113.3	$	(522.1)
Other Income, Net	123.5		21.0		26.3		2.3		1,096.2		(1,063.0)		206.3
Net Income Attributable to Common Shareholders	317.9		217.6		365.7		13.4		892.3		(949.7)		857.2
Cash Flows Used for Investments in Plant	883.6		467.9		668.1		75.7		125.6		—		2,220.9

	For the Three Months Ended June 30, 2023
Eversource (Millions of Dollars)	Electric Distribution		Natural Gas Distribution		Electric Transmission		Water Distribution		Other		Eliminations		Total
Operating Revenues	$	2,054.4	$	409.1	$	480.1	$	58.1	$	408.8	$	(781.2)	$	2,629.3
Depreciation and Amortization	82.1		(41.7)		(92.0)		(14.1)		(38.0)		2.2		(101.5)
Other Operating Expenses	(1,905.2)		(339.4)		(136.2)		(28.6)		(337.2)		779.5		(1,967.1)
Operating Income	$	231.3	$	28.0	$	251.9	$	15.4	$	33.6	$	0.5	$	560.7
Interest Expense	$	(68.2)	$	(21.5)	$	(42.2)	$	(9.2)	$	(100.6)	$	34.4	$	(207.3)
Impairment of Offshore Wind Investment	—		—		—		—		(401.0)		—		(401.0)
Other Income, Net	47.9		9.7		9.5		1.5		100.9		(74.6)		94.9
Net Income Attributable to Common Shareholders	165.5		11.7		161.0		9.3		(292.4)		(39.7)		15.4
	For the Six Months Ended June 30, 2023
Eversource (Millions of Dollars)	Electric Distribution		Natural Gas Distribution		Electric Transmission		Water Distribution		Other		Eliminations		Total
Operating Revenues	$	4,643.0	$	1,454.3	$	938.8	$	108.3	$	822.7	$	(1,542.1)	$	6,425.0
Depreciation and Amortization	60.0		(118.7)		(181.9)		(27.4)		(74.8)		4.3		(338.5)
Other Operating Expenses	(4,247.4)		(1,069.8)		(264.5)		(56.5)		(676.9)		1,538.8		(4,776.3)
Operating Income	$	455.6	$	265.8	$	492.4	$	24.4	$	71.0	$	1.0	$	1,310.2
Interest Expense	$	(137.6)	$	(42.7)	$	(83.7)	$	(18.6)	$	(185.7)	$	66.4	$	(401.9)
Impairment of Offshore Wind Investment	—		—		—		—		(401.0)		—		(401.0)
Other Income, Net	102.1		18.7		18.9		2.7		666.8		(625.3)		183.9
Net Income Attributable to Common Shareholders	331.0		181.9		316.1		10.8		224.7		(557.9)		506.6
Cash Flows Used for Investments in Plant	817.3		371.5		636.9		74.7		139.1		—		2,039.5

The following table summarizes Eversource's segmented total assets:

Eversource (Millions of Dollars)	Electric Distribution		Natural Gas Distribution		Electric Transmission		Water Distribution		Other		Eliminations		Total
As of June 30, 2024	$	30,943.9	$	9,036.6	$	15,417.3	$	3,018.6	$	28,662.1	$	(28,726.0)	$	58,352.5
As of December 31, 2023	29,426.4		8,775.3		14,806.5		2,944.8		26,337.7		(26,678.5)		55,612.2

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EVERSOURCE ENERGY AND SUBSIDIARIES

Management's Discussion and Analysis of Financial Condition and Results of Operations

The following discussion and analysis should be read in conjunction with our unaudited condensed consolidated financial statements and related combined notes included in this combined Quarterly Report on Form 10-Q, the combined Quarterly Report on Form 10-Q for the quarter ended March 31, 2024, as well as the Eversource 2023 combined Annual Report on Form 10-K.  References in this combined Quarterly Report on Form 10-Q to "Eversource," the "Company," "we," "us," and "our" refer to Eversource Energy and its consolidated subsidiaries.  All per-share amounts are reported on a diluted basis.  The unaudited condensed consolidated financial statements of Eversource, NSTAR Electric and PSNH and the unaudited condensed financial statements of CL&P are herein collectively referred to as the "financial statements."  

Refer to the Glossary of Terms included in this combined Quarterly Report on Form 10-Q for abbreviations and acronyms used throughout this Management's Discussion and Analysis of Financial Condition and Results of Operations.  

The only common equity securities that are publicly traded are common shares of Eversource. Our earnings discussion includes financial measures that are not recognized under GAAP (non-GAAP) referencing our earnings and EPS excluding the impairment charge for the offshore wind investments, a loss on the disposition of land that was initially acquired to construct the Northern Pass Transmission project and was subsequently abandoned, and certain transaction and transition costs. EPS by business is also a non-GAAP financial measure and is calculated by dividing the Net Income Attributable to Common Shareholders of each business by the weighted average diluted Eversource common shares outstanding for the period. The earnings and EPS of each business do not represent a direct legal interest in the assets and liabilities of such business, but rather represent a direct interest in our assets and liabilities as a whole.

We use these non-GAAP financial measures to evaluate and provide details of earnings results by business and to more fully compare and explain our results without including these items. This information is among the primary indicators we use as a basis for evaluating performance and planning and forecasting of future periods. We believe the impacts of the impairment charge for the offshore wind investments, the loss on the disposition of land associated with an abandoned project, and transaction and transition costs are not indicative of our ongoing costs and performance. We view these charges as not directly related to the ongoing operations of the business and therefore not an indicator of baseline operating performance. Due to the nature and significance of the effect of these items on Net Income Attributable to Common Shareholders and EPS, we believe that the non-GAAP presentation is a more meaningful representation of our financial performance and provides additional and useful information to readers of this report in analyzing historical and future performance of our business. These non-GAAP financial measures should not be considered as alternatives to reported Net Income Attributable to Common Shareholders or EPS determined in accordance with GAAP as indicators of operating performance.

We make statements concerning our expectations, beliefs, plans, objectives, goals, strategies, assumptions of future events, future financial performance or growth and other statements that are not historical facts. These statements are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. You can generally identify our forward-looking statements through the use of words or phrases such as "estimate," "expect," "anticipate," "intend," "plan," "project," "believe," "forecast," "should," "could," and other similar expressions. Forward-looking statements involve risks and uncertainties that may cause actual results or outcomes to differ materially from those included in our forward-looking statements. Forward-looking statements are based on the current expectations, estimates, assumptions or projections of management and are not guarantees of future performance. These expectations, estimates, assumptions or projections may vary materially from actual results. Accordingly, any such statements are qualified in their entirety by reference to, and are accompanied by, the following important factors that may cause our actual results or outcomes to differ materially from those contained in our forward-looking statements, including, but not limited to:

•cyberattacks or breaches, including those resulting in the compromise of the confidentiality of our proprietary information and the personal information of our customers,

•our ability to complete the sale of our offshore wind investments in the South Fork Wind and Revolution Wind projects on the timeline, terms and pricing we expect; if we and the counterparty are unable to satisfy all closing conditions and consummate the purchase and sale transaction with respect to these offshore wind assets; if we are unable to qualify for investment tax credits related to these projects; if we experience variability in the projected construction costs of these offshore wind projects, if there is a deterioration of market conditions in the offshore wind industry; and if the projects do not commence operation as scheduled or within budget or are not completed,

•disruptions in the capital markets or other events that make our access to necessary capital more difficult or costly,

•    changes in economic conditions, including impact on interest rates, tax policies, and customer demand and payment ability,

•    ability or inability to commence and complete our major strategic development projects and opportunities,

•    acts of war or terrorism, physical attacks or grid disturbances that may damage and disrupt our electric transmission and electric, natural gas, and water distribution systems,

•    actions or inaction of local, state and federal regulatory, public policy and taxing bodies,

•    substandard performance of third-party suppliers and service providers,

•    fluctuations in weather patterns, including extreme weather due to climate change,

•    changes in business conditions, which could include disruptive technology or development of alternative energy sources related to our current or future business model,

•    contamination of, or disruption in, our water supplies,

•    changes in levels or timing of capital expenditures,

•    changes in laws, regulations or regulatory policy, including compliance with environmental laws and regulations,

•    changes in accounting standards and financial reporting regulations,

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•    actions of rating agencies, and

•    other presently unknown or unforeseen factors.

Other risk factors are detailed in our reports filed with the SEC and updated as necessary, and we encourage you to consult such disclosures.

All such factors are difficult to predict and contain uncertainties that may materially affect our actual results, many of which are beyond our control.  You should not place undue reliance on the forward-looking statements, as each speaks only as of the date on which such statement is made, and, except as required by federal securities laws, we undertake no obligation to update any forward-looking statement or statements to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. New factors emerge from time to time and it is not possible for us to predict all of such factors, nor can we assess the impact of each such factor on the business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. For more information, see Item 1A, Risk Factors, included in this combined Quarterly Report on Form 10-Q and in Eversource's 2023 combined Annual Report on Form 10-K.  This combined Quarterly Report on Form 10-Q and Eversource's 2023 combined Annual Report on Form 10-K also describe material contingencies and critical accounting policies in the accompanying Management's Discussion and Analysis of Financial Condition and Results of Operations and Combined Notes to Financial Statements.  We encourage you to review these items.

Financial Condition and Business Analysis

Executive Summary

Eversource Energy is a public utility holding company primarily engaged, through its wholly-owned regulated utility subsidiaries, in the energy delivery business.  Eversource Energy's wholly-owned regulated utility subsidiaries consist of CL&P, NSTAR Electric and PSNH (electric utilities), Yankee Gas, NSTAR Gas and EGMA (natural gas utilities) and Aquarion (water utilities). Eversource is organized into the electric distribution, electric transmission, natural gas distribution, and water distribution reportable segments.

The following items in this executive summary are explained in more detail in this combined Quarterly Report on Form 10-Q:

Earnings Overview and Future Outlook: 

•We earned $335.3 million, or $0.95 per share, in the second quarter of 2024, compared with $15.4 million, or $0.04 per share, in the second quarter of 2023. We earned $857.2 million, or $2.43 per share, in the first half of 2024, compared with $506.6 million, or $1.45 per share, in the first half of 2023. Our results for the second quarter and first half of 2023 include an after-tax impairment charge of $331.0 million, or $0.95 per share, recorded within Eversource Parent and Other Companies to reflect our estimate of the fair value of the offshore wind projects. Our 2023 results also include after-tax land abandonment and other charges recorded within Eversource Parent and Other Companies of $6.2 million, or $0.01 per share, in the second quarter of 2023 and $6.7 million, or $0.01 per share, in the first half of 2023. Excluding the offshore wind impairment and these other charges, our 2023 non-GAAP earnings were $352.6 million, or $1.00 per share, in the second quarter of 2023 and $844.3 million, or $2.41 per share, in the first half of 2023.

•We reaffirmed our projection to earn within a 2024 non-GAAP earnings guidance range of between $4.50 per share and $4.67 per share, which excludes the impact of the sales of our 50 percent interests in the three jointly-owned offshore wind projects and related transaction costs. We also reaffirmed our projection of our long-term EPS growth rate through 2028 within a 5 to 7 percent range.

Liquidity:

•Cash flows provided by operating activities totaled $962.0 million in the first half of 2024, compared with $647.3 million in the first half of 2023. Investments in property, plant and equipment totaled $2.22 billion in the first half of 2024, compared with $2.04 billion in the first half of 2023.  

•Cash totaled $33.4 million as of June 30, 2024, compared with $53.9 million as of December 31, 2023. Our available borrowing capacity under our commercial paper programs totaled $1.21 billion as of June 30, 2024.

•In the first half of 2024, we issued $3.85 billion of new long-term debt and we repaid $900 million of long-term debt.

•On February 13, 2024, we initiated an exploratory assessment of a potential sale of our water distribution business.

•On May 1, 2024, our Board of Trustees approved a common share dividend payment of $0.715 per share, paid on June 28, 2024 to shareholders of record as of May 16, 2024.

Strategic Developments:

•On April 18, 2024, Eversource and Ørsted executed the equity and asset purchase agreement to sell Eversource’s 50 percent interest in Sunrise Wind to Ørsted for a gross purchase price of $230 million. The purchase price was subject to reduction for actual capital spending less than forecasted spending between signing the agreement in January and closing of the transaction. On July 9, 2024, Eversource completed the sale of its 50 percent ownership share of Sunrise Wind to Ørsted. In accordance with the equity and asset purchase agreement and after adjustment for the reduction in capital spending compared to forecasted, Ørsted paid Eversource $118 million at the closing of the

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sale transaction, and the remaining proceeds of $34 million will be paid after onshore construction is completed and certain other construction milestones are achieved.

Earnings Overview

Consolidated:  Below is a summary of our earnings by business, which also reconciles the non-GAAP financial measures of consolidated non-GAAP earnings and EPS, as well as EPS by business, to the most directly comparable GAAP measures of consolidated Net Income Attributable to Common Shareholders and diluted EPS.

	For the Three Months Ended June 30,								For the Six Months Ended June 30,
	2024				2023				2024				2023
(Millions of Dollars, Except Per Share Amounts)	Amount		Per Share		Amount		Per Share		Amount		Per Share		Amount		Per Share
Net Income Attributable to Common Shareholders (GAAP)	$	335.3	$	0.95	$	15.4	$	0.04	$	857.2	$	2.43	$	506.6	$	1.45
Regulated Companies	$	373.8	$	1.06	$	347.5	$	0.99	$	914.6	$	2.59	$	839.8	$	2.40
Eversource Parent and Other Companies (Non-GAAP)	(38.5)		(0.11)		5.1		0.01		(57.4)		(0.16)		4.5		0.01
Non-GAAP Earnings	$	335.3	$	0.95	$	352.6	$	1.00	$	857.2	$	2.43	$	844.3	$	2.41
Impairment of Offshore Wind Investment (after-tax) (1)	—		—		(331.0)		(0.95)		—		—		(331.0)		(0.95)
Land Abandonment Loss and Other Charges (after-tax) (2)	—		—		(6.2)		(0.01)		—		—		(6.7)		(0.01)
Net Income Attributable to Common Shareholders (GAAP)	$	335.3	$	0.95	$	15.4	$	0.04	$	857.2	$	2.43	$	506.6	$	1.45

(1) In the second quarter of 2023, we recorded an impairment charge resulting from the expected sales of our offshore wind investments and to reflect the estimate of the fair value of the offshore wind projects at that time. For further information, see "Business Development and Capital Expenditures – Offshore Wind Business" included in this Management's Discussion and Analysis of Financial Condition and Results of Operations.

(2) The 2023 charges primarily include a loss on the disposition of land. The land was initially acquired to construct the Northern Pass Transmission project and was subsequently abandoned.

Regulated Companies:  Our regulated companies comprise the electric distribution, electric transmission, natural gas distribution, and water distribution segments. A summary of our segment earnings and EPS is as follows: 

	For the Three Months Ended June 30,								For the Six Months Ended June 30,
	2024				2023				2024				2023
(Millions of Dollars, Except Per Share Amounts)	Amount		Per Share		Amount		Per Share		Amount		Per Share		Amount		Per Share
Electric Distribution	$	149.7	$	0.42	$	165.5	$	0.47	$	317.9	$	0.90	$	331.0	$	0.95
Electric Transmission	189.0		0.54		161.0		0.46		365.7		1.04		316.1		0.90
Natural Gas Distribution	27.1		0.08		11.7		0.03		217.6		0.61		181.9		0.52
Water Distribution	8.0		0.02		9.3		0.03		13.4		0.04		10.8		0.03
Net Income - Regulated Companies	$	373.8	$	1.06	$	347.5	$	0.99	$	914.6	$	2.59	$	839.8	$	2.40

Our electric distribution segment earnings decreased $15.8 million and $13.1 million in the second quarter and the first half of 2024, respectively, as compared to the second quarter and the first half of 2023, due primarily to higher operations and maintenance expense driven by higher storm restoration costs, the absence of a prior year benefit at PSNH related to the establishment of a new regulatory tracking mechanism that allowed for the recovery of previously incurred operating expenses associated with poles acquired on May 1, 2023, higher interest expense, higher depreciation expense, and higher property tax expense. Those earnings decreases were partially offset by higher revenues from a base distribution rate increase at NSTAR Electric effective January 1, 2024 and from CL&P's capital tracking mechanism due to increased electric system improvements, and an increase in interest income primarily on regulatory deferrals.

Our electric transmission segment earnings increased $28.0 million and $49.6 million in the second quarter and the first half of 2024, respectively, as compared to the second quarter and the first half of 2023, due primarily to a higher transmission rate base as a result of our continued investment in our transmission infrastructure, the impact of the annual billing and cost reconciliation filing with FERC, and higher AFUDC equity income.

Our natural gas distribution segment earnings increased $15.4 million and $35.7 million in the second quarter and the first half of 2024, respectively, as compared to the second quarter and the first half of 2023, due primarily to higher revenues from capital tracking mechanisms due to continued investments in natural gas infrastructure and a base distribution rate increase effective November 1, 2023 at NSTAR Gas, and lower operations and maintenance expense. Those earnings increases were partially offset by higher depreciation expense and higher interest expense.

Our water distribution segment earnings decreased $1.3 million in the second quarter of 2024, as compared to the second quarter of 2023, due primarily to higher operations and maintenance expense, higher interest expense, and higher depreciation expense.

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Our water distribution segment earnings increased $2.6 million in the first half of 2024, as compared to the first half of 2023, due primarily to an after-tax benefit of $6.3 million recorded to recognize the impacts of the Aquarion Water Company of Connecticut’s rate case decision from PURA from the effective date of the order on March 15, 2023 through June 30, 2024. The adjustment was recorded as a result of the State of Connecticut Superior Court’s decision on the rate case appeal on March 25, 2024. The impacts primarily include a reduction to depreciation expense to reflect lower depreciation rates ordered by PURA in its final decision, partially offset by a reserve recorded for revenues subject to refund as a result of the lower authorized revenues not yet reflected in current rates. The earnings increase was partially offset by higher interest expense, higher depreciation expense, and higher operations and maintenance expense.

Eversource Parent and Other Companies: Eversource parent and other companies’ losses improved by $293.6 million and $275.8 million in the second quarter and the first half of 2024, respectively, as compared to the second quarter and the first half of 2023, due primarily to the absence of the impairment of Eversource parent’s offshore wind investments in the second quarter of 2023, which resulted in an after-tax charge of $331.0 million, or $0.95 per share and the absence of a loss on the disposition of land in the second quarter of 2023 that was initially acquired to construct the Northern Pass Transmission project and was subsequently abandoned. These earnings improvements were partially offset by higher interest expense in both periods. Additionally, earnings in the second quarter were negatively impacted by a higher effective tax rate.

Liquidity

Sources and Uses of Cash: Eversource’s regulated business is capital intensive and requires considerable capital resources. Eversource’s regulated companies’ capital resources are provided by cash flows generated from operations, short-term borrowings, long-term debt issuances, capital contributions from Eversource parent, and existing cash, and are used to fund their liquidity and capital requirements. Eversource’s regulated companies typically maintain minimal cash balances and use short-term borrowings to meet their working capital needs and other cash requirements. Short-term borrowings are also used as a bridge to long-term debt financings. The levels of short-term borrowing may vary significantly over the course of the year due to the impact of fluctuations in cash flows from operations (including timing of storm costs and regulatory recoveries), dividends paid, capital contributions received and the timing of long-term debt financings.

Eversource, CL&P, NSTAR Electric and PSNH each uses its available capital resources to fund its respective construction expenditures, meet debt requirements, pay operating costs, including storm-related costs, pay dividends, and fund other corporate obligations, such as pension contributions. Eversource's regulated companies recover their electric, natural gas and water distribution construction expenditures as the related project costs are depreciated over the life of the assets. This impacts the timing of the revenue stream designed to fully recover the total investment plus a return on the equity and debt used to finance the investments. Eversource's regulated companies spend a significant amount of cash on capital improvements and construction projects that have a long-term return on investment and recovery period. In addition, Eversource uses its capital resources to fund investments in its offshore wind business, which are recognized as long-term assets.

We expect the future operating cash flows of Eversource, CL&P, NSTAR Electric and PSNH, along with our existing borrowing availability and access to both debt and equity markets, will be sufficient to meet any working capital and future operating requirements, and capital investment forecasted opportunities.

Cash totaled $33.4 million as of June 30, 2024, compared with $53.9 million as of December 31, 2023.

Short-Term Debt - Commercial Paper Programs and Credit Agreements: Eversource parent has a $2.00 billion commercial paper program allowing Eversource parent to issue commercial paper as a form of short-term debt. Eversource parent, CL&P, PSNH, NSTAR Gas, Yankee Gas, EGMA and Aquarion Water Company of Connecticut are parties to a five-year $2.00 billion revolving credit facility, which terminates on October 13, 2028. This revolving credit facility serves to backstop Eversource parent's $2.00 billion commercial paper program.  

NSTAR Electric has a $650 million commercial paper program allowing NSTAR Electric to issue commercial paper as a form of short-term debt. NSTAR Electric is also a party to a five-year $650 million revolving credit facility, which terminates on October 13, 2028, that serves to backstop NSTAR Electric's $650 million commercial paper program.  

The amount of borrowings outstanding and available under the commercial paper programs were as follows:

	Borrowings Outstanding as of				Available Borrowing Capacity as of				Weighted-Average Interest Rate as of
	June 30, 2024		December 31, 2023		June 30, 2024		December 31, 2023		June 30, 2024		December 31, 2023
(Millions of Dollars)
Eversource Parent Commercial Paper Program	$	1,203.0	$	1,771.9	$	797.0	$	228.1	5.67	%	5.60	%
NSTAR Electric Commercial Paper Program	236.5		365.8		413.5		284.2		5.37	%	5.40	%

There were no borrowings outstanding on the revolving credit facilities as of June 30, 2024 or December 31, 2023.

CL&P and PSNH have uncommitted line of credit agreements totaling $375 million and $250 million, respectively, all of which will expire in either October 2024, May 2025 or September 2025. There are no borrowings outstanding on either the CL&P or PSNH uncommitted line of credit agreements as of June 30, 2024.

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Amounts outstanding under the commercial paper programs are included in Notes Payable and classified in current liabilities on the Eversource and NSTAR Electric balance sheets, as all borrowings are outstanding for no more than 364 days at one time. As a result of the CL&P long-term debt issuance in January 2024, $207.3 million of commercial paper borrowings under the Eversource parent commercial paper program were reclassified to Long-Term Debt on Eversource parent’s balance sheet as of December 31, 2023. As a result of the Yankee Gas long-term debt issuances in July 2024, $37.9 million of commercial paper borrowings under the Eversource parent commercial paper program were reclassified to Long-Term Debt on Eversource parent’s balance sheet as of June 30, 2024.

Intercompany Borrowings: Eversource parent uses its available capital resources to provide loans to its subsidiaries to assist in meeting their short-term borrowing needs. Eversource parent records intercompany interest income from its loans to subsidiaries, which is eliminated in consolidation. Intercompany loans from Eversource parent to its subsidiaries are eliminated in consolidation on Eversource's balance sheets. As of June 30, 2024, there were intercompany loans from Eversource parent to CL&P of $407.8 million and to PSNH of $132.0 million. As of December 31, 2023, there were intercompany loans from Eversource parent to CL&P of $457.0 million and to PSNH of $233.0 million. Eversource parent charges interest on these intercompany loans at the same weighted-average interest rate as its commercial paper program. Intercompany loans from Eversource parent are included in Notes Payable to Eversource Parent and classified in current liabilities on the respective subsidiary's balance sheets, as these intercompany borrowings are outstanding for no more than 364 days at one time. As a result of the CL&P long-term debt issuance in January 2024, $207.3 million of CL&P’s intercompany borrowings were reclassified to Long-Term Debt on CL&P’s balance sheet as of December 31, 2023.

Long-Term Debt Issuance Authorizations: On February 8, 2024, the NHPUC approved PSNH’s request for authorization to issue up to $300 million in long-term debt through December 31, 2024. On May 1, 2024, the DPU approved NSTAR Electric’s request for authorization to issue up to $2.4 billion in long-term debt through December 31, 2026. On July 24, 2024, PURA approved CL&P’s request for authorization to issue up to $1.0 billion in long-term debt through December 31, 2025.

Long-Term Debt Issuances and Repayments: The following table summarizes long-term debt issuances and repayments:

(Millions of Dollars)	Interest Rate		Issuance/(Repayment)		Issue Date or Repayment Date	Maturity Date	Use of Proceeds for Issuance/ Repayment Information
CL&P 2024 Series A First Mortgage Bonds	4.65	%	$	350.0	January 2024	January 2029	Repaid short-term debt, paid capital expenditures and working capital
NSTAR Electric 2024 Debentures	5.40	%	600.0		May 2024	June 2034	Repaid short-term debt, paid capital expenditures and working capital
PSNH Series X First Mortgage Bonds	5.35	%	300.0		April 2024	October 2033	Repaid short-term debt, paid capital expenditures and working capital
Eversource Parent Series DD Senior Notes	5.00	%	350.0		January 2024	January 2027	Repaid short-term debt
Eversource Parent Series EE Senior Notes	5.50	%	650.0		January 2024	January 2034	Repaid short-term debt
Eversource Parent Series FF Senior Notes	5.85	%	700.0		April 2024	April 2031	Repay Series X Senior Notes and Aquarion’s 2014 Senior Notes at maturity and short-term debt
Eversource Parent Series GG Senior Notes	5.95	%	700.0		April 2024	July 2034	Repay Series X Senior Notes and Aquarion’s 2014 Senior Notes at maturity and short-term debt
Eversource Parent Series X Senior Notes	4.20	%	(900.0)		June 2024	June 2024	Paid at maturity
NSTAR Gas Series W First Mortgage Bonds	5.29	%	160.0		June 2024	June 2029	Repaid short-term debt, paid capital expenditures and general corporate purchases
NSTAR Gas Series X First Mortgage Bonds	5.48	%	40.0		June 2024	June 2034	Repaid short-term debt, paid capital expenditures and general corporate purchases
Yankee Gas Series W First Mortgage Bonds	5.50	%	90.0		July 2024	July 2029	Repaid short-term debt, paid capital expenditures, working capital and repay Series P bonds at maturity
Yankee Gas Series X First Mortgage Bonds	5.74	%	90.0		July 2024	July 2034	Repaid short-term debt, paid capital expenditures, working capital and repay Series P bonds at maturity

As a result of the Yankee Gas long-term debt issuances in July 2024, $100.0 million of current portion of long-term debt was reclassified to Long-Term Debt on Eversource parent’s balance sheet as of June 30, 2024.    

Rate Reduction Bonds: PSNH's RRB payments consist of principal and interest and are paid semi-annually. PSNH paid $21.6 million of RRB principal payments and $7.6 million of interest payments in the first half of 2024, and paid $21.6 million of RRB principal payments and $8.3 million of interest payments in the first half of 2023.

Common Share Issuances and Equity Distribution Agreement: On May 11, 2022, Eversource entered into an equity distribution agreement pursuant to which it may offer and sell up to $1.2 billion of its common shares from time to time through an “at-the-market” (ATM) equity offering program. In the first six months of 2024, Eversource issued 4,206,649 common shares, which resulted in proceeds of $248.2 million, net of issuance costs. Eversource used the net proceeds received for general corporate purposes.

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Cash Flows:  Cash flows from operating activities primarily result from the transmission and distribution of electricity, and the distribution of natural gas and water. Cash flows provided by operating activities totaled $962.0 million in the first half of 2024, compared with $647.3 million in the first half of 2023. Operating cash flows were favorably impacted by the timing of cash payments made on our accounts payable, the timing of other working capital items, a decrease in cost of removal expenditures, a $48.8 million increase in income tax refunds received in 2024 compared to 2023, and a $42.6 million decrease in cash payments to vendors for storm costs. These favorable impacts were partially offset by the timing of cash collections on our accounts receivable and an increase in regulatory under-recoveries driven primarily by the timing of collections for energy and natural gas supply costs and other regulatory tracking mechanisms. The impacts of regulatory collections are included in both Regulatory Recoveries and Amortization on the statements of cash flows.

On April 17, 2024, PURA issued an interim decision in CL&P’s Rate Adjustment Mechanisms (RAM) filing and approved rates for six RAM components, with rates effective July 1, 2024 through April 30, 2025. The rate approvals include the recovery of NBFMCC and SBC net underrecoveries as of December 31, 2023 of $264.9 million and $86.2 million, respectively, and the recovery of expected net costs of $388.5 million for the NBFMCC and $254.4 million for the SBC for the period July 1, 2024 through April 30, 2025. The NBFMCC rate adjustment is primarily driven by long-term nuclear power purchase agreements required by state policy and the SBC rate adjustment is primarily driven by costs associated with accounts receivable hardship customer protection and the new low-income discount rate effective December 2023. On July 23, 2024, PURA issued a draft final decision that approved a further adjustment to the NBFMCC rate to include the recovery of incurred and deferred electric vehicle program costs from 2021 through May 31, 2024 of $44.4 million and expected electric vehicle program costs from June 1, 2024 through December 31, 2024 of $24.3 million. In total, $49.8 million, including $5.4 million in carrying costs, will be recovered over a 20-month period of September 1, 2024 through April 30, 2026, and $24.3 million will be recovered over an eight-month period of September 1, 2024 through April 30, 2025. In addition, PURA approved $3.5 million of 2024 Innovative Energy Solutions program costs and $2.5 million of Connecticut Green Bank program costs, over an eight-month period of September 1, 2024 through April 30, 2025. A final PURA decision in CL&P’s RAM filing is expected on August 14, 2024.

On May 1, 2024, our Board of Trustees approved a common share dividend payment of $0.715 per share, paid on June 28, 2024 to shareholders of record as of May 16, 2024. In the first half of 2024, we paid cash dividends of $490.9 million and issued non-cash dividends of $12.0 million in the form of treasury shares, totaling dividends of $502.9 million. In the first half of 2023, we paid cash dividends of $459.0 million and issued non-cash dividends of $11.8 million in the form of treasury shares, totaling dividends of $470.8 million.

Eversource issues treasury shares to satisfy awards under the Company's incentive plans, shares issued under the dividend reinvestment and share purchase plan, and matching contributions under the Eversource 401k Plan.

In the first half of 2024, CL&P, NSTAR Electric and PSNH paid $82.5 million, $393.9 million and $62.0 million respectively, in common stock dividends to Eversource parent.

Investments in Property, Plant and Equipment on the statements of cash flows do not include amounts incurred on capital projects but not yet paid, cost of removal, AFUDC related to equity funds, and the capitalized and deferred portions of pension and PBOP income/expense.  In the first half of 2024, investments for Eversource, CL&P, NSTAR Electric, and PSNH were $2.22 billion, $532.2 million, $729.8 million, and $289.7 million, respectively. Capital expenditures were primarily for continuing projects to maintain and improve infrastructure and operations, including enhancing reliability to the transmission and distribution systems.

Contractual Obligations: Our cash requirements from contractual obligations were reported in Item 7, "Management’s Discussion and Analysis of Financial Condition and Results of Operations," of the Eversource 2023 Form 10-K. See Note 9B, “Commitments and Contingencies - Long-Term Contractual Arrangements,” to the financial statements for discussion of material changes to our cash requirements from contractual obligations. Other than as described in the footnote, there have been no material changes to our cash requirements from contractual obligations and payment schedules previously disclosed in our 2023 Form 10-K.

Credit Ratings: On June 18, 2024, Moody’s revised the outlook from stable to negative for CL&P.

Business Development and Capital Expenditures

Our consolidated capital expenditures, including amounts incurred but not paid, cost of removal, AFUDC, and the capitalized and deferred portions of pension and PBOP income/expense (all of which are non-cash factors), totaled $2.26 billion in the first half of 2024, compared to $1.98 billion in the first half of 2023.  These amounts included $152.7 million and $119.1 million in the first half of 2024 and 2023, respectively, related to information technology and facilities upgrades and enhancements, primarily at Eversource Service and The Rocky River Realty Company.

Electric Transmission Business:  Our consolidated electric transmission business capital expenditures increased by $135.6 million in the first half of 2024, as compared to the first half of 2023.  A summary of electric transmission capital expenditures by company is as follows:  

	For the Six Months Ended June 30,
(Millions of Dollars)	2024		2023
CL&P	$	259.2	$	162.9
NSTAR Electric	235.1		227.4
PSNH	199.7		168.1
Total Electric Transmission	$	694.0	$	558.4

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Our transmission projects are designed to improve the reliability of the electric grid, meet customer demand for power, and strengthen the electric grid's resilience against extreme weather and other safety and security threats. In Connecticut, Massachusetts and New Hampshire, our transmission projects include transmission line upgrades, the installation of new transmission interconnection facilities, substations and lines, and transmission substation enhancements.

Distribution Business:  A summary of distribution capital expenditures is as follows:

	For the Six Months Ended June 30,
(Millions of Dollars)	CL&P		NSTAR Electric		PSNH		Total Electric		Natural Gas		Water		Total
2024
Basic Business	$	129.4	$	229.6	$	51.5	$	410.5	$	115.8	$	10.8	$	537.1
Aging Infrastructure	101.5		145.9		22.5		269.9		324.3		67.0		661.2
Load Growth and Other	59.4		107.3		24.4		191.1		22.6		0.4		214.1
Total Distribution	$	290.3	$	482.8	$	98.4	$	871.5	$	462.7	$	78.2	$	1,412.4
2023
Basic Business	$	135.9	$	172.1	$	38.7	$	346.7	$	93.9	$	7.7	$	448.3
Aging Infrastructure	120.8		146.7		40.3		307.8		305.4		60.2		673.4
Load Growth and Other	62.1		80.0		11.9		154.0		26.9		0.3		181.2
Total Distribution	$	318.8	$	398.8	$	90.9	$	808.5	$	426.2	$	68.2	$	1,302.9

For the electric distribution business, basic business includes the purchase of meters, tools, vehicles, information technology, transformer replacements, equipment facilities, and the relocation of plant. Aging infrastructure relates to reliability and the replacement of overhead lines, plant substations, underground cable replacement, and equipment failures. Load growth and other includes requests for new business and capacity additions on distribution lines and substation additions and expansions.

For the natural gas distribution business, basic business addresses daily operational needs including meters, pipe relocations due to public works projects, vehicles, and tools. Aging infrastructure projects seek to improve the reliability of the system through enhancements related to cast iron and bare steel replacement of main and services, corrosion mediation, and station upgrades. Load growth and other reflects growth in existing service territories including new developments, installation of services, and expansion.

For the water distribution business, basic business addresses daily operational needs including periodic meter replacement, water main relocation, facility maintenance, and tools. Aging infrastructure relates to reliability and the replacement of water mains, regulators, storage tanks, pumping stations, wellfields, reservoirs, and treatment facilities. Load growth and other reflects growth in our service territory, including improvements of acquisitions, installation of new services, and interconnections of systems.

Offshore Wind Business: As of June 30, 2024, Eversource’s offshore wind business includes 50 percent ownership interests in wind partnerships, which collectively hold the Revolution Wind, South Fork Wind and Sunrise Wind projects, and a tax equity investment in South Fork Wind. The offshore wind projects are being developed and constructed through joint and equal partnerships with Ørsted.

As of June 30, 2024 and December 31, 2023, Eversource's total equity investment balance in its offshore wind business was $806.1 million and $515.5 million, respectively.

On May 25, 2023, Eversource announced that it had completed a strategic review of its offshore wind investments and determined that it would pursue the sale of its offshore wind investments. On September 7, 2023, Eversource completed the sale of its 50 percent interest in an uncommitted lease area consisting of approximately 175,000 developable acres located 25 miles off the south coast of Massachusetts to Ørsted for $625 million in an all-cash transaction.

In September of 2023, Eversource made a contribution of $528 million using the proceeds from the lease area sale to invest in a tax equity interest for South Fork Wind. South Fork Wind was restructured as a tax equity investment, with Eversource purchasing 100 percent ownership of a new Class A tax equity membership interest. This investment will result in Eversource receiving cash flow benefits from investment tax credits (ITC) and other future cash flow benefits as well. As of June 30 2024, all twelve South Fork Wind turbines met the requirements to qualify for the investment tax credits. As a result, $385 million of expected investment tax credits were reclassified from the South Fork Wind tax equity investment balance reported in Investments in Unconsolidated Affiliates as a reduction in current taxes payable of $54 million and an increase in deferred tax assets of $331 million on the Eversource balance sheet as of June 30, 2024.

As a result of these investment tax credits generated from our wind investments, Eversource expects lower federal income tax payments between 2024 through 2026.

Sales of Offshore Wind Investments: On January 24, 2024, Ørsted signed an agreement with Eversource to acquire Eversource’s 50 percent share of Sunrise Wind, subject to the successful selection of Sunrise Wind in the New York fourth solicitation for offshore wind capacity, signing of an OREC contract with NYSERDA, finalization of agreements including the equity and asset purchase agreement, receipt of the final approval by BOEM of the Sunrise Wind Construction and Operations Plan (COP), and relevant regulatory approvals. On February 29, 2024, Sunrise Wind was selected for contract negotiation in the offshore wind solicitation by NYSERDA, and was subsequently awarded a contract, which was finalized and completed on May 31, 2024. In June 2024, Sunrise Wind received final approval by BOEM of its COP and all remaining regulatory approvals.

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On April 18, 2024, Eversource and Ørsted executed the equity and asset purchase agreement to sell Eversource’s 50 percent interest in Sunrise Wind to Ørsted for a gross purchase price of $230 million. The purchase price was subject to reduction for actual capital spending less than forecasted spending between signing the agreement in January and closing of the transaction. On July 9, 2024, Eversource completed the sale of its 50 percent ownership share of Sunrise Wind to Ørsted. In accordance with the equity and asset purchase agreement and after adjustment for the reduction in capital spending compared to forecasted, Ørsted paid Eversource $118 million at the closing of the sale transaction, and the remaining proceeds of $34 million will be paid after onshore construction is completed and certain other construction milestones are achieved.

With the completion of the sale, Eversource has divested all of its ownership interest in Sunrise Wind and will not have any ongoing ownership interest in the project, nor any ongoing financial obligations associated with project costs. Eversource’s existing credit support obligations were either terminated or indemnified by Ørsted as a result of the sale. Eversource has entered into a separate amended and restated construction management agreement to manage Sunrise Wind’s onshore construction through completion. In this role, Eversource will solely be a service provider to Sunrise Wind.

On February 13, 2024, Eversource executed an agreement to sell its existing 50 percent interests in the South Fork Wind and Revolution Wind projects to Global Infrastructure Partners (GIP) for $1.1 billion of cash proceeds to be received upon closing, subject to adjustment. The purchase price is inclusive of the sales value related to a 40 percent level of federal investment tax credits, 10 percent of which is the energy community ITC adder of approximately $170 million related to Revolution Wind. The purchase price is subject to adjustments based on, among other things, the progress, timing and the construction cost of Revolution Wind, including changes in actual versus forecasted capital spending between signing the agreement and closing of the transaction. Factors that could result in Eversource’s total net proceeds from the transaction to be lower, resulting in post-closing adjustment payments owed to GIP, include the ultimate cost of construction and extent of cost overruns for Revolution Wind, delays in constructing Revolution Wind, which would impact the economics associated with the purchase price adjustment, and Revolution Wind’s eligibility for federal investment tax credits at less than the value included in the purchase price. Total net proceeds could also be adjusted for a benefit due to Eversource if there are lower operation costs or higher availability of the projects through the period that is four years following the commercial operation date of the Revolution Wind project.

The post-closing purchase price adjustment payments include cost sharing obligations that provide Eversource will share equally with GIP in GIP’s funding obligations for up to approximately $240 million of incremental capital expenditure overruns incurred during the construction phase for Revolution Wind, after which obligations for any additional capital expenditure overruns would be shared equally by Eversource and Ørsted. The purchase price is also subject to post-closing adjustments as a result of final project economics, which includes Eversource’s obligation to maintain GIP’s internal rate of return for each project as specified in the agreement. Post-closing purchase price adjustment payments will be made following the sale closing date for South Fork and following the commercial operation of Revolution Wind. South Fork Wind construction has been completed, and Eversource does not expect any material cost sharing or other purchase price adjustment payments for South Fork Wind.

Closing the transaction with GIP is subject to customary conditions, including certain regulatory approvals, as well as other conditions, among which is the completion and execution of the partnership agreements between GIP and Ørsted that will govern GIP’s new ownership interest in those projects following Eversource’s divestiture. All regulatory approvals have been received and the review period under the Hart Scott Rodino Act has expired. Closing of this transaction is currently expected to occur in the third quarter of 2024.

Under the agreement with GIP, Eversource’s existing credit support obligations are expected to roll off for each project around the time that each project completes its expected capital spend. Eversource will continue to make future cash expenditures for required cash contributions up to the time of disposition of the Revolution Wind and South Fork Wind projects and changes in the timing and amounts of these contributions would be adjusted in the purchase price.

Upon close of the sale transactions in the third quarter of 2024, the total proceeds will be compared to the current carrying value of the investments, and the difference will be reflected in the statement of income. At that time, Eversource will also record an estimate of future obligations under the terms of the GIP transaction, which primarily could include the potential cost overrun sharing obligation and potential obligation to maintain GIP’s internal rate of return for the Revolution Wind project. Eversource is currently evaluating the combined impact of the Sunrise Wind sale and the expected sale of Revolution Wind and South Fork Wind, and at this time, does not expect a material financial impact on our 2024 results. Proceeds from the transactions will be used to pay off parent company debt.

Impairment: Equity method investments are assessed for impairment when conditions exist as of the balance sheet date that indicate that the fair value of the investment may be less than book value. Eversource continually monitors and evaluates its equity method investments to determine if there are indicators of an other-than-temporary impairment. If the decline in value is considered to be other-than-temporary, the investment is written down to its estimated fair value, which establishes a new cost basis in the investment. Subsequent declines or recoveries after the reporting date are not considered in the impairment recognized. Investments that are other-than-temporarily impaired and written down to their estimated fair value cannot subsequently be written back up for increases in estimated fair value. Impairment evaluations involve a significant degree of judgment and estimation, including identifying circumstances that indicate an impairment may exist at the equity method investment level, selecting discount rates used to determine fair values, and developing an estimate of discounted future cash flows expected from investment operations or the sale of the investment. In the second quarter of 2024, there were no indicators of an other-than-temporary impairment in Eversource’s equity method investment balance.

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In the second quarter of 2023, in connection with the process to divest its offshore wind business, Eversource identified indicators for impairment. In the impairment assessment, Eversource evaluated its investments and determined that the carrying value of the equity method offshore wind investments exceeded the fair value of the investments and that the decline in fair value was other-than-temporary. The completion of the strategic review in the second quarter of 2023 resulted in Eversource recording a pre-tax other-than-temporary impairment charge of $401 million ($331 million after-tax) to reflect the investment at estimated fair value based on the expected purchase price at that time. In the fourth quarter of 2023, Eversource recognized an additional pre-tax other-than-temporary impairment charge of $1.77 billion ($1.62 billion after-tax) in its offshore wind investments and established a new cost basis in the investments as of December 31, 2023. The impairment charges were non-cash charges and did not impact Eversource’s cash position.

Permitting and Construction of Offshore Wind Projects: The offshore wind projects require receipt of federal, state and local approvals necessary to construct and operate the projects. The federal permitting process is led by BOEM, and state approvals are required from New York, Rhode Island and Massachusetts. South Fork Wind, Revolution Wind and Sunrise Wind have each received final federal approval from BOEM. All state and local approvals have been received for South Fork and Revolution Wind. For Sunrise Wind, all state and local approvals required to start construction have been received.

Installation of South Fork Wind’s twelve 11-megawatt wind turbines was completed in February 2024 and the project is in-service. For Revolution Wind, major construction began in the fourth quarter of 2023 and onshore and offshore construction is underway. For Sunrise Wind, onshore construction is in progress.

FERC Regulatory Matters

FERC ROE Complaints: Four separate complaints were filed at the FERC by combinations of New England state attorneys general, state regulatory commissions, consumer advocates, consumer groups, municipal parties and other parties (collectively, the Complainants). In each of the first three complaints, filed on October 1, 2011, December 27, 2012, and July 31, 2014, respectively, the Complainants challenged the NETOs' base ROE of 11.14 percent that had been utilized since 2005 and sought an order to reduce it prospectively from the date of the final FERC order and for the separate 15-month complaint periods. In the fourth complaint, filed April 29, 2016, the Complainants challenged the NETOs' base ROE billed of 10.57 percent and the maximum ROE for transmission incentive (incentive cap) of 11.74 percent, asserting that these ROEs were unjust and unreasonable.

The ROE originally billed during the period October 1, 2011 (beginning of the first complaint period) through October 15, 2014 consisted of a base ROE of 11.14 percent and incentives up to 13.1 percent. On October 16, 2014, FERC issued Opinion No. 531-A and set the base ROE at 10.57 percent and the incentive cap at 11.74 percent for the first complaint period. This was also effective for all prospective billings to customers beginning October 16, 2014. This FERC order was vacated on April 14, 2017 by the U.S. Court of Appeals for the D.C. Circuit (the Court).

All amounts associated with the first complaint period have been refunded. Eversource has recorded a reserve of $39.1 million (pre-tax and excluding interest) for the second complaint period as of both June 30, 2024 and December 31, 2023. This reserve represents the difference between the billed rates during the second complaint period and a 10.57 percent base ROE and 11.74 percent incentive cap. The reserve consisted of $21.4 million for CL&P, $14.6 million for NSTAR Electric and $3.1 million for PSNH as of both June 30, 2024 and December 31, 2023.

On October 16, 2018, FERC issued an order on all four complaints describing how it intends to address the issues that were remanded by the Court. FERC proposed a new framework to determine (1) whether an existing ROE is unjust and unreasonable and, if so, (2) how to calculate a replacement ROE. Initial briefs were filed by the NETOs, Complainants and FERC Trial Staff on January 11, 2019 and reply briefs were filed on March 8, 2019. The NETOs' brief was supportive of the overall ROE methodology determined in the October 16, 2018 order provided the FERC does not change the proposed methodology or alter its implementation in a manner that has a material impact on the results.

The FERC order included illustrative calculations for the first complaint using FERC's proposed frameworks with financial data from that complaint. Those illustrative calculations indicated that for the first complaint period, for the NETOs, which FERC concludes are of average financial risk, the preliminary just and reasonable base ROE is 10.41 percent and the preliminary incentive cap on total ROE is 13.08 percent.

If the results of the illustrative calculations were included in a final FERC order for each of the complaint periods, then a 10.41 percent base ROE and a 13.08 percent incentive cap would not have a significant impact on our financial statements for all of the complaint periods. These preliminary calculations are not binding and do not represent what we believe to be the most likely outcome of a final FERC order.

On November 21, 2019, FERC issued Opinion No. 569 affecting the two pending transmission ROE complaints against the Midcontinent ISO (MISO) transmission owners, in which FERC adopted a new methodology for determining base ROEs. Various parties sought rehearing. On December 23, 2019, the NETOs filed supplementary materials in the NETOs' four pending cases to respond to this new methodology because of the uncertainty of the applicability to the NETOs' cases. On May 21, 2020, the FERC issued its order in Opinion No. 569-A on the rehearing of the MISO transmission owners' cases, in which FERC again changed its methodology for determining the MISO transmission owners' base ROEs. On November 19, 2020, the FERC issued Opinion No. 569-B denying rehearing of Opinion No. 569-A and reaffirmed the methodology previously adopted in Opinion No. 569-A. The new methodology differs significantly from the methodology proposed by FERC in its October 16, 2018 order to determine the NETOs' base ROEs in its four pending cases. FERC Opinion Nos. 569-A and 569-B were appealed to the Court. On August 9, 2022, the Court issued its decision vacating MISO ROE FERC Opinion Nos. 569, 569-A and 569-B and remanded to FERC to reopen the proceedings. The Court found that FERC’s development of the new return methodology was arbitrary and capricious due to FERC’s failure to offer a reasonable explanation for its decision to reintroduce the risk-premium financial model in its new methodology for calculating a just and reasonable return. At this time, Eversource cannot predict how and when FERC will address the Court’s findings on the remand of the MISO FERC opinions or any potential associated impact on the NETOs’ four pending ROE complaint cases.

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Given the significant uncertainty regarding the applicability of the FERC opinions in the MISO transmission owners’ two complaint cases to the NETOs’ pending four complaint cases, Eversource concluded that there is no reasonable basis for a change to the reserve or recognized ROEs for any of the complaint periods at this time. As well, Eversource cannot reasonably estimate a range of loss for any of the four complaint proceedings at this time. Eversource, CL&P, NSTAR Electric and PSNH currently record revenues at the 10.57 percent base ROE and incentive cap at 11.74 percent established in the October 16, 2014 FERC order.

A change of 10 basis points to the base ROE used to establish the reserves would impact Eversource’s after-tax earnings by an average of approximately $3 million for each of the four 15-month complaint periods. Prospectively from the date of a final FERC order implementing a new base ROE, based off of 2023 rate base, a change of 10 basis points to the base ROE would impact Eversource’s future annual after-tax earnings by approximately $5.5 million per year, and will increase slightly over time as we continue to invest in our transmission infrastructure.

FERC Notice of Proposed Rulemaking on Transmission Incentives: On March 20, 2020, FERC issued a Notice of Proposed Rulemaking (NOPR) on transmission incentives. The NOPR intends to revise FERC’s electric transmission incentive policies to reflect competing uses of transmission due to generation resource mix, technological innovation and shifts in load patterns. FERC proposes to grant transmission incentives based on measurable project economics and reliability benefits to consumers rather than its current project risks and challenges framework. On July 1, 2020, Eversource filed comments generally supporting the NOPR.

On April 15, 2021, FERC issued a Supplemental NOPR that proposes to eliminate the existing 50 basis point return on equity for utilities that have been participating in a regional transmission organization (RTO ROE incentive) for more than three years. On June 25, 2021, the NETOs jointly filed comments strongly opposing FERC’s proposal. On July 26, 2021, the NETOs filed Supplemental NOPR reply comments responding to various parties advocating for the elimination of the RTO Adder. If FERC issues a final order eliminating the RTO ROE incentive as proposed in the Supplemental NOPR, the estimated annual impact (using 2023 rate base) on Eversource's after-tax earnings is approximately $20 million. The Supplemental NOPR contemplates an effective date 30 days from the final order.

At this time, Eversource cannot predict the ultimate outcome of these proceedings, including possible appellate review, and the resulting impact on its transmission incentives.

Regulatory Developments and Rate Matters

Electric, Natural Gas and Water Utility Base Distribution Rates: The regulated companies’ distribution rates are set by their respective state regulatory commissions, and their tariffs include mechanisms for periodically adjusting their rates for the recovery of specific incurred costs. Other than as described below, for the first half of 2024, changes made to the regulated companies’ rates did not have a material impact on their earnings.  For further information, see "Financial Condition and Business Analysis – Regulatory Developments and Rate Matters" included in Item 7, "Management’s Discussion and Analysis of Financial Condition and Results of Operations," of the Eversource 2023 Form 10-K.

Connecticut:

Aquarion Water Company of Connecticut Distribution Rate Case: On August 29, 2022, Aquarion Water Company of Connecticut (AWC-CT) filed an application with PURA to amend its existing rate schedules to address an operating revenue deficiency. AWC-CT’s rate application requested approval of rate increases of $27.5 million, an additional $13.6 million, and an additional $8.8 million, effective March 15, 2023, 2024, and 2025, respectively. On March 15, 2023, PURA issued a final decision that rejected this request. In this decision, PURA ordered a decrease to total authorized revenues of $4.0 million effective March 15, 2023. The decision allows an authorized regulatory ROE of 8.70 percent. On March 30, 2023, AWC-CT filed an appeal on the decision and requested a stay of the decision with the State of Connecticut Superior Court. On April 5, 2023, the Court temporarily granted AWC-CT’s request to stay and on May 25, 2023 granted a permanent stay of certain orders affecting base rates, which would keep existing rates in place until the appeal is completed. The stay included the condition that AWC-CT place any revenue received from customers above the rates and amounts authorized in the March 15, 2023 decision in a separate, interest bearing account until further order. On March 25, 2024, the State of Connecticut Superior Court issued a decision on the appeal which dismissed nine, remanded back to PURA two, and partially remanded one of AWC-CT’s twelve claims of error in its appeal. On March 28, 2024, AWC-CT filed an appeal of the Connecticut Superior Court decision to the Connecticut Appellate Court and that appeal was subsequently transferred to the Connecticut Supreme Court for review. A ruling on the appeal is pending.

On April 18, 2024, PURA initiated a docket to address the matters on remand. On July 31, 2024, PURA issued a final decision in this docket and increased AWC-CT’s approved revenue requirement by $0.1 million above the amount authorized in the March 15, 2023 decision. As a result of the State of Connecticut Superior Court’s decision on the appeal, AWC-CT recorded the impacts of the PURA rate case decision from the effective date of the order on March 15, 2023 through June 30, 2024. The impacts primarily include a reduction to depreciation expense to reflect lower depreciation rates ordered by PURA in its 2023 final decision, partially offset by a reserve recorded for revenues subject to refund as a result of the lower authorized revenues not yet reflected in current rates. These adjustments resulted in an after-tax benefit of $6.3 million recorded in the first half of 2024.

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Massachusetts:

NSTAR Electric Distribution Rates: NSTAR Electric’s PBR mechanism allows for an annual adjustment to base distribution rates for inflation, exogenous events and future capital additions based on a historical five-year average of total capital additions. On December 26, 2023, the DPU approved a $104.9 million increase to base distribution rates effective January 1, 2024. The base distribution rate increase was comprised of a $50.6 million inflation-based adjustment and a $54.3 million K-bar adjustment for capital additions based on the difference between the historical five-year average of total capital additions and the base capital revenue requirement.

NSTAR Gas Distribution Rates: NSTAR Gas’ PBR mechanism allows for an annual adjustment to base distribution rates for inflation and exogenous events. NSTAR Gas submitted its third annual PBR Adjustment filing on September 15, 2023 and on October 30, 2023, the DPU approved a $25.4 million increase to base distribution rates, of which, $15.5 million was associated with a base rate adjustment and the remainder for a prior period exogenous cost adjustment, for effect on November 1, 2023.

EGMA Distribution Rates: On May 29, 2024, EGMA filed for its first rate base reset for rates to be effective November 1, 2024, in accordance with an October 7, 2020 EGMA Rate Settlement Agreement approved by the DPU. The rate base reset occurring on November 1, 2024 adjusts distribution rates to account for capital additions (including the roll-in of GSEP capital additions), depreciation expense, property taxes, and return on rate base for capital additions placed into service through December 31, 2023. The total revenue requirement calculated for the first rate base reset is an increase to base distribution rates of $155.0 million, of which $34.1 million is associated with GSEP investments through December 31, 2023. Under the terms of the Rate Settlement Agreement, EGMA applied a cap on the revenue change to be effective November 1, 2024, and the amount in excess of the cap will be deferred for recovery through the Local Distribution Adjustment Clause (LDAC) on November 1, 2025, including carrying charges. After adjusting for the cap, the increase to base distribution rates is $87.5 million to be effective November 1, 2024 (of which $8.8 million is offset by a reduction in the GSEP revenue requirement and GSEP rate also taking effect on November 1, 2024), and an increase of $67.5 million to base distribution rates to be effective November 1, 2025.

NSTAR Electric CIP Filing: On December 30, 2022, the DPU approved a provisional system planning tariff for the recovery of costs associated with a capital investment project (CIP) proposal submitted by NSTAR Electric for one of six geographic study areas in its service territory in accordance with DPU’s directives. The DPU established a new, provisional framework for planning and funding upgrades to the electric power system to foster development and interconnection of distributed energy facilities. Under the DPU program, NSTAR Electric has filed infrastructure upgrade proposals to be built within a four-year construction timeframe that allocate the costs of interconnection upgrades between the interconnecting distributed generation facility and distribution customers based on a technical analysis of capacity benefits. Payments made by the distributed generation facility will be applied against the total capital investment made by NSTAR Electric and NSTAR Electric will earn a return on the net investment. The amount allocated to distribution customers will be recovered through a reconciling mechanism, the Provisional System Planning Tariff. The DPU approved the first of these provisional system planning projects, the Marion-Fairhaven group study area, which will enable 141 MW of distributed energy resources (DER) to be interconnected at a total estimated cost of $120 million. Of the total $120 million, $66 million will be allocated to distribution customers, once the enabled distributed energy facilities capacity is fully subscribed by distributed energy facilities interconnecting customers. Additionally, NSTAR Electric will proceed with construction of approximately $54 million of transmission upgrades necessary to improve local reliability and integrate distribution energy resources in the Marion-Fairhaven area and recover the amount through local transmission rates.

On June 4, 2024, the DPU approved four of the remaining five CIPs that were originally submitted by NSTAR Electric. These included the Plainfield-Blandford CIP, which will enable 40 MW of DER to be interconnected at a total estimated distribution investment of $37 million, the Dartmouth-Westport CIP which enables 60 MW of DER for a total distribution investment of $58 million, the Plymouth CIP which enables 380 MW of DER for a total distribution investment of $152 million and the Cape Cod CIP which enables 296 MW of DER for a total distribution investment of $170 million. Of the total $417 million for these four recently approved CIPs, $183 million will be allocated to distribution customers, once the enabled distributed energy facilities capacity is fully subscribed by distributed energy facilities interconnecting customers. Additionally, NSTAR Electric will proceed with construction of approximately $64 million of transmission upgrades necessary to improve local reliability and integrate distribution energy resources in the four CIP areas and recover the amount through local transmission rates. The sixth and final originally filed CIP, Freetown, is still pending approval with the DPU.

New Hampshire:

PSNH Distribution Rate Case: On June 11, 2024, PSNH filed an application with the NHPUC for approval of a temporary annual base distribution rate increase, proposed to take effect August 1, 2024. On July 31, 2024, the NHPUC approved a settlement agreement that was reached by PSNH, New Hampshire Department of Energy, and the Office of the Consumer Advocate to implement a temporary annual base distribution rate increase of $61.2 million to take effect August 1, 2024.

Also on June 11, 2024, PSNH filed an application with the NHPUC to request an increase in permanent base distribution rates of $181.9 million, which is inclusive of the temporary rate increase, and proposed to take effect August 1, 2025. The temporary rates are subject to reconciliation based on the outcome of the permanent rate case back to the date when temporary rates took effect. The permanent rate increase request includes $247 million in unrecovered storm costs to be recovered over a five-year period. As part of the rate case, PSNH proposed to implement a performance-based rate making plan that would adjust rates annually over a four-year term with a corresponding stay out provision. The plan includes a revenue-cap formula adjusted for inflation, a supplemental capital adjustment formula to support PSNH’s planned capital infrastructure improvements, an exogenous events recovery mechanism, performance metrics and an earnings sharing mechanism, among others. The NHPUC is permitted up to twelve months in all to investigate the proposed rates and issue a final order. A decision by the NHPUC on permanent rates is expected by August 1, 2025.

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Critical Accounting Policies

The preparation of financial statements in conformity with GAAP requires management to make estimates, assumptions and, at times, difficult, subjective or complex judgments.  Changes in these estimates, assumptions and judgments, in and of themselves, could materially impact our financial position, results of operations or cash flows.  Our management discusses with the Audit Committee of our Board of Trustees significant matters relating to critical accounting policies.  Our critical accounting policies that we believed were the most critical in nature were reported in the Eversource 2023 Form 10-K.  There have been no material changes with regard to these critical accounting policies.

Other Matters

Web Site:  Additional financial information is available through our website at www.eversource.com.  We make available through our website a link to the SEC's EDGAR website (http://www.sec.gov/edgar/searchedgar/companysearch.html), at which site Eversource's, CL&P's, NSTAR Electric's and PSNH's combined Annual Reports on Form 10-K, combined Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and any amendments to those reports may be reviewed.  Information contained on the Company's website or that can be accessed through the website is not incorporated into and does not constitute a part of this combined Quarterly Report on Form 10-Q.

RESULTS OF OPERATIONS – EVERSOURCE ENERGY AND SUBSIDIARIES

The following provides the amounts and variances in operating revenues and expense line items in the statements of income for Eversource for the three and six months ended June 30, 2024 and 2023 included in this combined Quarterly Report on Form 10-Q:  

	For the Three Months Ended June 30,						For the Six Months Ended June 30,
(Millions of Dollars)	2024		2023		Increase/(Decrease)		2024		2023		Increase/(Decrease)
Operating Revenues	$	2,533.5	$	2,629.3	$	(95.8)	$	5,866.1	$	6,425.0	$	(558.9)
Operating Expenses:
Purchased Power, Purchased Natural Gas and Transmission	841.4		1,161.1		(319.7)		2,077.4		3,064.3		(986.9)
Operations and Maintenance	464.4		427.3		37.1		927.4		881.9		45.5
Depreciation	354.6		320.0		34.6		694.5		632.9		61.6
Amortization	(114.1)		(218.5)		104.4		(116.5)		(294.5)		178.0
Energy Efficiency Programs	145.3		145.8		(0.5)		358.8		368.8		(10.0)
Taxes Other Than Income Taxes	239.4		232.9		6.5		476.0		461.4		14.6
Total Operating Expenses	1,931.0		2,068.6		(137.6)		4,417.6		5,114.8		(697.2)
Operating Income	602.5		560.7		41.8		1,448.5		1,310.2		138.3
Interest Expense	271.3		207.4		63.9		522.1		401.8		120.3
Impairment of Offshore Wind Investment	—		401.0		(401.0)		—		401.0		(401.0)
Other Income, Net	115.3		94.9		20.4		206.3		183.9		22.4
Income Before Income Tax Expense	446.5		47.2		399.3		1,132.7		691.3		441.4
Income Tax Expense	109.3		29.9		79.4		271.7		180.9		90.8
Net Income	337.2		17.3		319.9		861.0		510.4		350.6
Net Income Attributable to Noncontrolling Interests	1.9		1.9		—		3.8		3.8		—
Net Income Attributable to Common Shareholders	$	335.3	$	15.4	$	319.9	$	857.2	$	506.6	$	350.6

Operating Revenues

Sales Volumes: A summary of our retail electric GWh sales volumes, our firm natural gas MMcf sales volumes, and our water MG sales volumes, and percentage changes, is as follows: 

	Electric				Firm Natural Gas				Water
	Sales Volumes (GWh)		Percentage Increase		Sales Volumes (MMcf)		Percentage Increase		Sales Volumes (MG)		Percentage Increase/ (Decrease)
Three Months Ended June 30:	2024	2023			2024	2023			2024	2023
Traditional	1,836	1,745	5.2	%	—	—	—	%	376	370	1.6	%
Decoupled and Special Contracts (1)	10,051	9,419	6.7	%	24,814	23,751	4.5	%	5,601	6,000	(6.7)	%
Total Sales Volumes	11,887	11,164	6.5	%	24,814	23,751	4.5	%	5,977	6,370	(6.2)	%
Six Months Ended June 30:
Traditional	3,784	3,645	3.8	%	—	—	—	%	719	679	5.9	%
Decoupled	20,639	19,717	4.7	%	86,349	83,534	3.4	%	10,408	10,592	(1.7)	%
Total Sales Volumes	24,423	23,362	4.5	%	86,349	83,534	3.4	%	11,127	11,271	(1.3)	%

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Weather, fluctuations in energy supply rates, conservation measures (including utility-sponsored energy efficiency programs), and economic conditions affect customer energy usage and water consumption.  Industrial sales volumes are less sensitive to temperature variations than residential and commercial sales volumes.  In our service territories, weather impacts both electric and water sales volumes during the summer and both electric and natural gas sales volumes during the winter; however, natural gas sales volumes are more sensitive to temperature variations than electric sales volumes.  Customer heating or cooling usage may not directly correlate with historical levels or with the level of degree-days that occur.

Fluctuations in retail electric sales volumes at PSNH impact earnings ("Traditional" in the table above).  For CL&P, NSTAR Electric, NSTAR Gas, EGMA, Yankee Gas, and our Connecticut water distribution business, fluctuations in retail sales volumes do not materially impact earnings due to their respective regulatory commission-approved distribution revenue decoupling mechanisms ("Decoupled" in the table above).  These distribution revenues are decoupled from their customer sales volumes, which breaks the relationship between sales volumes and revenues recognized.

Operating Revenues: The variance in Operating Revenues by segment is as follows:

(Millions of Dollars)	Three Months Ended		Six Months Ended
Electric Distribution	$	(88.1)	$	(415.0)
Natural Gas Distribution	(15.6)		(154.8)
Electric Transmission	54.0		103.1
Water Distribution	(0.6)		(0.6)
Other	(13.6)		16.1
Eliminations	(31.9)		(107.7)
Total Operating Revenues	$	(95.8)	$	(558.9)

Electric and Natural Gas Distribution Revenues:

Base Distribution Revenues:

•Base electric distribution revenues increased $28.5 million and $56.6 million for the three and six month periods due primarily to a base distribution rate increase at NSTAR Electric effective January 1, 2024.

•Base natural gas distribution revenues increased $4.6 million and $14.2 million for the three and six month periods due primarily to a base distribution rate increase at NSTAR Gas effective November 1, 2023.

Tracked Distribution Revenues: Tracked distribution revenues consist of certain costs that are recovered from customers in retail rates through regulatory commission-approved cost tracking mechanisms and therefore, recovery of these costs has no impact on earnings.  Costs recovered through cost tracking mechanisms include, among others, energy supply and natural gas supply procurement and other energy-related costs, electric retail transmission charges, energy efficiency program costs, electric restructuring and stranded cost recovery revenues (including securitized RRB charges), certain capital tracking mechanisms for infrastructure improvements, and additionally for the Massachusetts utilities, pension and PBOP benefits, net metering for distributed generation, and solar-related programs. Revenues from certain of these cost tracking mechanisms also include certain incentives earned, return on capital tracking mechanisms, and carrying charges that are billed in rates to customers, which do impact earnings. Tracked revenues also include wholesale market sales transactions, such as sales of energy and energy-related products into the ISO-NE wholesale electricity market, sales of natural gas to third party marketers, and the sale of RECs to various counterparties.

Customers have the choice to purchase electricity from their Eversource electric utility or from a competitive third party supplier. For customers who have contracted separately with these competitive suppliers, revenue is not recorded for the sale of the electricity commodity, as the utility is acting as an agent on behalf of the third party supplier. For customers that choose to purchase electric generation from CL&P, NSTAR Electric or PSNH, each utility purchases power on behalf of, and is permitted to recover the related energy supply cost without mark-up from, its customers, and records offsetting amounts in revenues and purchased power related to this energy supply procurement. CL&P, NSTAR Electric and PSNH each remain as the distribution service provider for all customers and charge a regulated rate for distribution delivery service recorded in revenues. Certain eligible natural gas customers may elect to purchase natural gas from their Eversource natural gas utility or may contract separately with a gas supply operator. Revenue is not recorded for the sale of the natural gas commodity to customers who have contracted separately with these operators, only the delivery to a customer, as the utility is acting as an agent on behalf of the gas supply operator.

The variance in tracked distribution revenues for the three and six month periods is due primarily to the following:

	Electric Distribution				Natural Gas Distribution
(Millions of Dollars)	Three Months Ended		Six Months Ended		Three Months Ended		Six Months Ended
Retail Tariff Tracked Revenues:
Energy supply procurement	$	(341.6)	$	(855.6)	$	(30.5)	$	(196.9)
CL&P FMCC	80.0		157.9		—		—
Retail transmission	43.9		91.1		—		—
Net Metering	29.2		59.5		—		—
Other distribution tracking mechanisms	50.5		103.9		14.8		24.1
Wholesale Market Sales Revenue	19.7		(32.3)		(4.8)		4.4

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The decrease in energy supply procurement within both electric distribution and natural gas distribution for the three and six month periods was driven by lower average prices and lower average supply-related sales volumes.

The increase in CL&P’s FMCC revenues was driven by an increase in the retail Non-Bypassable Federally Mandated Congestion Charge (NBFMCC) rate. The CL&P NBFMCC rate includes the recovery of costs incurred under long-term state approved energy contracts with the Millstone and Seabrook nuclear power plants, net of the benefits received from selling this energy into the ISO-NE wholesale market. Effective January 1, 2023, CL&P reduced the average NBFMCC rate to a credit of $0.01524 per kWh. The rate reduction returned to customers the net benefits of higher wholesale market sales received in the ISO-NE market for these energy contracts. The average NBFMCC rate changed to $0.00000 per kWh effective July 1, 2023 and then to $0.00293 per kWh effective September 1, 2023. As a result of the April 2024 interim decision in the 2024 CL&P RAM filing, the average NBFMCC rate increased to $0.03906 per kWh effective July 1, 2024. As a result of the July 2024 draft final decision in the 2024 CL&P RAM filing, the average NBFMCC will increase to $0.04279 per kWh effective September 1, 2024. The rate increases primarily resulted from higher costs associated with power purchase agreements with the Millstone and Seabrook nuclear power plants.

Fluctuations in retail transmission revenues are driven by the recovery of the costs of our wholesale transmission business, such as those billed by ISO-NE and Local and Regional Network Service charges. For further information, see "Purchased Power, Purchased Natural Gas and Transmission” expense below.

Electric Transmission Revenues:  Electric transmission revenues increased $54.0 million and $103.1 million for the three and six month periods due primarily to a higher transmission rate base as a result of our continued investment in our transmission infrastructure and the impact of the annual billing and cost reconciliation filing with FERC.

Other Revenues and Eliminations: Other revenues primarily include the revenues of Eversource's service company, most of which are eliminated in consolidation. Eliminations are also primarily related to the Eversource electric transmission revenues that are derived from ISO-NE regional transmission charges to the distribution businesses of CL&P, NSTAR Electric and PSNH that recover the costs of the wholesale transmission business in rates charged to their customers.

Purchased Power, Purchased Natural Gas and Transmission expense includes costs associated with providing electric generation service supply and natural gas to all customers who have not migrated to third party suppliers, the cost of energy purchase contracts entered into as required by regulation, and transmission costs.  These electric and natural gas supply procurement costs, other energy-related costs, and transmission costs are recovered from customers in rates through commission-approved cost tracking mechanisms, which have no impact on earnings (tracked costs).  The variance in Purchased Power, Purchased Natural Gas and Transmission expense is due primarily to the following:

(Millions of Dollars)	Three Months Ended		Six Months Ended
Energy supply procurement costs	$	(341.4)	$	(855.7)
Other electric distribution costs	67.9		79.7
Natural gas supply costs	(38.3)		(191.7)
Transmission costs	34.5		69.0
Eliminations	(42.4)		(88.2)
Total Purchased Power, Purchased Natural Gas and Transmission	$	(319.7)	$	(986.9)

The variance in energy supply procurement costs is offset in Operating Revenues (tracked energy supply procurement revenues). The variance in other electric distribution costs for the three and six month periods was primarily the result of higher net metering costs at NSTAR Electric, higher long-term contractual energy-related costs that are recovered in the non-bypassable component of the FMCC mechanism at CL&P, partially offset by a decrease in long-term renewable energy purchase contract costs at PSNH.

Costs at the natural gas distribution segment relate to supply procurement costs for retail customers. Total natural gas costs decreased for the three and six month periods due primarily to a decrease in the retail cost deferral and lower average prices, partially offset by higher average purchased volumes.

The increase in transmission costs for the three month period was primarily the result of an increase in costs billed by ISO-NE that support regional grid investments. This was partially offset by a decrease in Local Network Service charges, which reflect the cost of transmission service provided by Eversource over our local transmission network, and a decrease in the retail transmission cost deferral, which reflects the actual cost of transmission service compared to estimated amounts billed to customers. The increase in transmission costs for the six month period was primarily the result of an increase in costs billed by ISO-NE and an increase in Local Network Service charges. This was partially offset by a decrease in the retail transmission cost deferral.

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Operations and Maintenance expense includes tracked costs and costs that are part of base electric, natural gas and water distribution rates with changes impacting earnings (non-tracked costs).  The variance in Operations and Maintenance expense is due primarily to the following:

(Millions of Dollars)	Three Months Ended		Six Months Ended
Base Electric Distribution (Non-Tracked Costs):
Storm Costs	$	16.2	$	16.3
Operations-related expenses (including vendor services, vehicles and materials)	6.2		6.4
Employee-related expenses (including labor and benefits)	5.6		4.8
Shared corporate costs (including IT system depreciation at Eversource Service)	4.1		6.7
Vegetation management	1.3		5.0
General costs (including vendor services in corporate areas, uncollectible expense, insurance, fees and assessments)	(1.3)		1.4
Total Base Electric Distribution (Non-Tracked Costs)	32.1		40.6
Tracked Electric Costs (Electric Distribution and Electric Transmission) - Increase in both periods due primarily to higher transmission expense	20.7		47.2
Total Electric Distribution and Electric Transmission	52.8		87.8
Natural Gas Distribution:
Base (Non-Tracked Costs) - Decrease in both periods due primarily to lower employee-related expenses and lower uncollectible expense	(10.9)		(22.0)
Tracked Costs	5.8		6.1
Total Natural Gas Distribution	(5.1)		(15.9)
Water Distribution	1.8		5.3
Eversource Parent and Other Companies - other operations and maintenance	(23.8)		(13.9)
Eliminations	11.4		(17.8)
Total Operations and Maintenance	$	37.1	$	45.5

Depreciation expense increased for the three and six month periods due primarily to higher net plant in service balances.

Amortization expense includes the deferral of energy-related costs and other costs that are included in certain regulatory commission-approved cost tracking mechanisms. This deferral adjusts expense to match the corresponding revenues compared to the actual costs incurred. These costs are recovered from customers in rates and have no impact on earnings. Amortization expense also includes the amortization of certain costs as those costs are collected in rates.

The variance in Amortization for the three and six month periods is due primarily to the deferral adjustment of energy-related and other tracked costs at CL&P (included in the non-bypassable component of the FMCC mechanism), NSTAR Electric and PSNH, which can fluctuate from period to period based on the timing of costs incurred and related rate changes to recover these costs. The CL&P non-bypassable FMCC retail rate increased in the three and six month periods, and the higher collections lowered the regulatory under-recovery deferral adjustment recorded in the three and six month periods, resulting in an increase to amortization expense of $63.2 million and $116.3 million, respectively. Amortization expense also increased at NSTAR Electric as a result of an increase in storm costs recovered in rates and at PSNH due to the absence of a second quarter 2023 benefit related to the establishment of a new regulatory tracking mechanism that allowed for the recovery of previously incurred operating expenses associated with poles acquired from Consolidated Communications on May 1, 2023. The establishment of the PPAM regulatory asset resulted in a pre-tax benefit of $16.9 million recorded in Amortization expense on the statement of income in the second quarter of 2023.

Energy Efficiency Programs expense includes costs of various state energy policy initiatives and expanded energy efficiency programs that are recovered from customers in rates, most of which have no impact on earnings. Energy Efficiency Programs expense includes a deferral adjustment that reflects the actual costs of energy efficiency programs compared to the amounts billed to customers, which can fluctuate from period to period based on the timing of costs incurred and related rate changes to recover these costs. Energy Efficiency Programs expense decreased for the six month period due primarily to the deferral adjustment, partially offset by higher program spending.

Taxes Other Than Income Taxes expense increased for the three and six month periods due primarily to higher property taxes as a result of higher utility plant balances and higher assessments, partially offset by lower Connecticut gross earnings taxes.

Interest Expense increased for the three and six month periods due primarily to an increase in interest on long-term debt as a result of new debt issuances ($65.0 million and $120.5 million, respectively), an increase in interest expense on regulatory deferrals ($9.0 million and $13.1 million, respectively), and higher interest on short-term notes payable due to increased borrowings ($3.3 million and $11.4 million, respectively), partially offset by an increase in capitalized AFUDC related to debt funds and other capitalized interest ($14.0 million and $29.2 million, respectively).

Impairment of Offshore Wind Investment relates to an impairment charge in 2023 associated with Eversource’s equity method investment in its offshore wind business resulting from the completion of the strategic review to reflect the estimate of the fair value of the offshore wind projects. See "Business Development and Capital Expenditures – Offshore Wind Business" included in this Management's Discussion and Analysis of Financial Condition and Results of Operations.

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Other Income, Net increased for the three and six month periods due primarily to an increase in equity in earnings related to Eversource's equity method investments ($18.2 million and $22.2 million, respectively), an increase in interest income primarily from regulatory deferrals ($15.7 million and $22.6 million, respectively), an increase in capitalized AFUDC related to equity funds ($4.7 million and $16.0 million, respectively), the absence in 2024 of a loss on the disposition of land in the second quarter of 2023 ($6.5 million), and investment income in 2024 compared to investment losses in 2023 driven by market volatility ($2.5 million and $3.4 million, respectively), partially offset by a decrease related to pension, SERP and PBOP non-service income components ($3.3 million and $10.3 million, respectively). Other Income, Net also decreased in both periods due to the absence in 2024 of a benefit in both the first and second quarter of 2023 from the liquidation of Eversource’s equity method investment in a renewable energy fund in excess of its carrying value, partially offset by a charitable contribution made with a portion of the proceeds from the liquidation in the first quarter of 2023.

Income Tax Expense increased for the three month period due primarily to higher pre-tax earnings ($83.8 million), higher state taxes ($25.8 million), a decrease in amortization of EDIT ($5.4 million), and an increase in items that impact our tax rate as a result of regulatory treatment (flow-through items) and permanent differences ($7.3 million), partially offset by a decrease in reserves ($42.9 million) primarily related to the 2023 impairment of Eversource’s offshore wind investment.

Income Tax Expense increased for the six month period due primarily to higher pre-tax earnings ($92.7 million), higher state taxes ($29.6 million), a higher share-based payment tax deficiency ($1.9 million), and a decrease in amortization of EDIT ($10.0 million), partially offset by a decrease in items that impact our tax rate as a result of regulatory treatment (flow-through items) and permanent differences ($0.5 million) and a decrease in reserves ($42.9 million) primarily related to the 2023 impairment of Eversource’s offshore wind investment.

RESULTS OF OPERATIONS –

THE CONNECTICUT LIGHT AND POWER COMPANY

NSTAR ELECTRIC COMPANY AND SUBSIDIARY

PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE AND SUBSIDIARIES

The following provides the amounts and variances in operating revenues and expense line items in the statements of income for CL&P, NSTAR Electric and PSNH for the six months ended June 30, 2024 and 2023 included in this combined Quarterly Report on Form 10-Q:

	For the Six Months Ended June 30,
	CL&P						NSTAR Electric						PSNH
(Millions of Dollars)	2024		2023		Increase/ (Decrease)		2024		2023		Increase/ (Decrease)		2024		2023		Increase/ (Decrease)
Operating Revenues	$	2,085.9	$	2,373.1	$	(287.2)	$	1,792.7	$	1,775.3	$	17.4	$	613.4	$	770.2	$	(156.8)
Operating Expenses:
Purchased Power and Transmission	1,046.4		1,477.0		(430.6)		482.7		627.5		(144.8)		124.9		371.5		(246.6)
Operations and Maintenance	384.2		326.9		57.3		337.3		312.9		24.4		138.4		132.3		6.1
Depreciation	198.9		185.9		13.0		197.2		183.3		13.9		75.5		68.8		6.7
Amortization of Regulatory   (Liabilities)/Assets, Net	(246.7)		(312.2)		65.5		69.6		21.4		48.2		50.0		(25.3)		75.3
Energy Efficiency Programs	67.1		60.8		6.3		149.0		156.9		(7.9)		20.9		19.4		1.5
Taxes Other Than Income Taxes	200.2		196.1		4.1		131.0		119.8		11.2		47.8		47.6		0.2
Total Operating Expenses	1,650.1		1,934.5		(284.4)		1,366.8		1,421.8		(55.0)		457.5		614.3		(156.8)
Operating Income	435.8		438.6		(2.8)		425.9		353.5		72.4		155.9		155.9		—
Interest Expense	116.6		93.0		23.6		104.1		91.6		12.5		39.4		36.6		2.8
Other Income, Net	39.4		28.3		11.1		95.5		80.8		14.7		14.8		12.0		2.8
Income Before Income Tax Expense	358.6		373.9		(15.3)		417.3		342.7		74.6		131.3		131.3		—
Income Tax Expense	88.6		92.2		(3.6)		99.7		74.1		25.6		31.5		30.6		0.9
Net Income	$	270.0	$	281.7	$	(11.7)	$	317.6	$	268.6	$	49.0	$	99.8	$	100.7	$	(0.9)

Operating Revenues

Sales Volumes: A summary of our retail electric GWh sales volumes is as follows:

	For the Six Months Ended June 30,
	2024	2023	Percentage Increase
CL&P	9,732	9,138	6.5	%
NSTAR Electric	10,907	10,579	3.1	%
PSNH	3,784	3,645	3.8	%

Fluctuations in retail electric sales volumes at PSNH impact earnings.  For CL&P and NSTAR Electric, fluctuations in retail electric sales volumes do not impact earnings due to their respective regulatory commission-approved distribution revenue decoupling mechanisms.

Operating Revenues: Operating Revenues, which consist of base distribution revenues and tracked revenues further described below, decreased $287.2 million at CL&P and $156.8 million at PSNH, and increased $17.4 million at NSTAR Electric for the six month period.

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Base Distribution Revenues:

•CL&P's distribution revenues were flat for the six month period.

•NSTAR Electric's distribution revenues increased $49.8 million for the six month period due primarily to a base distribution rate increase effective January 1, 2024.

•PSNH's distribution revenues increased $6.8 million for the six month period due primarily to an increase in sales volumes in 2024 compared to 2023.

Tracked Distribution Revenues: Tracked distribution revenues consist of certain costs that are recovered from customers in retail rates through regulatory commission-approved cost tracking mechanisms and therefore, recovery of these costs has no impact on earnings.  Costs recovered through cost tracking mechanisms include, among others, energy supply procurement and other energy-related costs, retail transmission charges, energy efficiency program costs, electric restructuring and stranded cost recovery revenues (including securitized RRB charges), certain capital tracking mechanisms for infrastructure improvements, and additionally for NSTAR Electric, pension and PBOP benefits, net metering for distributed generation, and solar-related programs. Revenues from certain of these cost tracking mechanisms also include certain incentives earned, return on capital tracking mechanisms, and carrying charges that are billed in rates to customers, which do impact earnings. Tracked revenues also include wholesale market sales transactions, such as sales of energy and energy-related products into the ISO-NE wholesale electricity market and the sale of RECs to various counterparties.

Customers have the choice to purchase electricity from their Eversource electric utility or from a competitive third party supplier. For customers who have contracted separately with these competitive suppliers, revenue is not recorded for the sale of the electricity commodity, as the utility is acting as an agent on behalf of the third party supplier. For customers that choose to purchase electric generation from CL&P, NSTAR Electric or PSNH, each utility purchases power on behalf of, and is permitted to recover the related energy supply cost without mark-up from, its customers, and records offsetting amounts in revenues and purchased power related to this energy supply procurement. CL&P, NSTAR Electric and PSNH each remain as the distribution service provider for all customers and charge a regulated rate for distribution delivery service recorded in revenues.

The variance in tracked distribution revenues for the six month period is due primarily to the following:

(Millions of Dollars)	CL&P		NSTAR Electric		PSNH
Retail Tariff Tracked Revenues:
Energy supply procurement	$	(469.4)	$	(181.9)	$	(204.3)
CL&P FMCC	157.9		—		—
Retail transmission	45.4		22.2		23.5
Net Metering	—		59.5		—
Other distribution tracking mechanisms	(10.7)		81.6		33.0
Wholesale Market Sales Revenue	1.0		(15.0)		(18.3)

The decrease in energy supply procurement at CL&P, NSTAR Electric and PSNH for the six month period was driven by lower average prices and lower average supply-related sales volumes.

The increase in CL&P’s FMCC revenues was driven by an increase in the retail Non-Bypassable Federally Mandated Congestion Charge (NBFMCC) rate. The CL&P NBFMCC rate includes the recovery of costs incurred under long-term state approved energy contracts with the Millstone and Seabrook nuclear power plants, net of the benefits received from selling this energy into the ISO-NE wholesale market. Effective January 1, 2023, CL&P reduced the average NBFMCC rate to a credit of $0.01524 per kWh. The rate reduction returned to customers the net benefits of higher wholesale market sales received in the ISO-NE market for these energy contracts. The average NBFMCC rate changed to $0.00000 per kWh effective July 1, 2023 and then to $0.00293 per kWh effective September 1, 2023. As a result of the April 2024 interim decision in the 2024 CL&P RAM filing, the average NBFMCC rate increased to $0.03906 per kWh effective July 1, 2024. As a result of the July 2024 draft final decision in the 2024 CL&P RAM filing, the average NBFMCC will increase to $0.04279 per kWh effective September 1, 2024. The rate increases primarily resulted from higher costs associated with power purchase agreements with the Millstone and Seabrook nuclear power plants.

Fluctuations in retail transmission revenues are driven by the recovery of the costs of our wholesale transmission business, such as those billed by ISO-NE and Local and Regional Network Service charges. For further information, see "Purchased Power and Transmission” expense below.

Transmission Revenues: Transmission revenues increased $36.1 million at CL&P, $46.3 million at NSTAR Electric, and $20.7 million at PSNH for the six month period, due primarily to a higher transmission rate base as a result of our continued investment in our transmission infrastructure and the impact of the annual billing and cost reconciliation filing with FERC.

Eliminations: Eliminations are primarily related to the Eversource electric transmission revenues that are derived from ISO-NE regional transmission charges to the distribution businesses of CL&P, NSTAR Electric and PSNH that recover the costs of the wholesale transmission business in rates charged to their customers. The impact of eliminations decreased revenues by $47.7 million at CL&P, $46.0 million at NSTAR Electric, and $21.3 million at PSNH for the six month period.

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Purchased Power and Transmission expense includes costs associated with providing electric generation service supply to all customers who have not migrated to third party suppliers, the cost of energy purchase contracts entered into as required by regulation, and transmission costs. These energy supply procurement costs, other energy-related costs, and transmission costs are recovered from customers in rates through commission-approved cost tracking mechanisms, which have no impact on earnings (tracked costs). The variance in Purchased Power and Transmission expense is due primarily to the following:

(Millions of Dollars)	CL&P		NSTAR Electric		PSNH
Energy supply procurement costs	$	(470.8)	$	(181.2)	$	(203.7)
Other electric distribution costs	57.9		59.9		(38.1)
Transmission costs	30.0		22.5		16.5
Eliminations	(47.7)		(46.0)		(21.3)
Total Purchased Power and Transmission	$	(430.6)	$	(144.8)	$	(246.6)

The variance in energy supply procurement costs is offset in Operating Revenues (tracked energy supply procurement revenues). The variance in other electric distribution costs at NSTAR Electric is due to an increase in net metering costs, at CL&P is due to higher long-term contractual energy-related costs that are recovered in the non-bypassable component of the FMCC mechanism, and at PSNH is due to a decrease in long-term renewable energy purchase contract costs.

Included in transmission costs are charges that recover the cost of transporting electricity over high-voltage lines from generation facilities to substations, including costs allocated by ISO-NE to maintain the wholesale electric market. The increase in transmission costs at CL&P, NSTAR Electric and PSNH was due primarily to an increase in costs billed by ISO-NE that support regional grid investments and an increase in Local Network Service charges, which reflect the cost of transmission service provided by Eversource over our local transmission network. This was partially offset by a decrease resulting from the retail transmission cost deferral, which reflects the actual costs of transmission service compared to estimated amounts billed to customers.

Operations and Maintenance expense includes tracked costs and costs that are part of base distribution rates with changes impacting earnings (non-tracked costs).  The variance in Operations and Maintenance expense is due primarily to the following:

(Millions of Dollars)	CL&P		NSTAR Electric		PSNH
Base Electric Distribution (Non-Tracked Costs):
Storm costs	$	11.2	$	6.3	$	(1.2)
Vegetation management	8.7		(1.9)		(1.8)
Employee-related expenses (including labor and benefits)	8.3		(4.7)		1.2
General costs (including vendor services in corporate areas, uncollectible expense, insurance, fees and assessments) and other operations-related expenses	3.4		4.9		(0.5)
Shared corporate costs (including IT system depreciation at Eversource Service)	3.2		2.4		1.1
Total Base Electric Distribution (Non-Tracked Costs)	34.8		7.0		(1.2)
Total Tracked Costs - Increase due primarily to higher transmission expense	22.5		17.4		7.3
Total Operations and Maintenance	$	57.3	$	24.4	$	6.1

Depreciation expense increased for the six month period for CL&P, NSTAR Electric and PSNH due to higher net plant in service balances.

Amortization of Regulatory (Liabilities)/Assets, Net expense includes the deferral of energy-related costs and other costs that are included in certain regulatory commission-approved cost tracking mechanisms. This deferral adjusts expense to match the corresponding revenues compared to the actual costs incurred. These costs are recovered from customers in rates and have no impact on earnings. Amortization expense also includes the amortization of certain costs as those costs are collected in rates. The variance in Amortization of Regulatory (Liabilities)/Assets, Net for the six month period is due primarily to the following:

•The variance at CL&P was due primarily to the deferral adjustment of energy-related and other tracked costs that are included in the non-bypassable component of the FMCC mechanism, which can fluctuate from period to period based on the timing of costs incurred and related rate changes to recover these costs. The CL&P non-bypassable FMCC retail rate increased in the six month period, and the higher collections lowered the regulatory under-recovery deferral adjustment recorded in the same period, resulting in an increase to amortization expense of $116.3 million.

•The increase in expense at NSTAR Electric was due to the deferral adjustment of energy-related and other tracked costs that are included in the transition and solar facilities regulatory mechanisms, and higher amortization of storm costs recovered in rates.

•The increase in expense at PSNH was due to the deferral adjustment of energy-related and other tracked costs that are included in the stranded cost recovery charge regulatory mechanism and the absence of a second quarter 2023 benefit related to the establishment of a new regulatory tracking mechanism that allowed for the recovery of previously incurred operating expenses associated with poles acquired from Consolidated Communications on May 1, 2023. The establishment of the PPAM regulatory asset resulted in a pre-tax benefit of $16.9 million recorded in Amortization expense on the PSNH statement of income in the second quarter of 2023.

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Energy Efficiency Programs expense includes costs of various state energy policy initiatives and expanded energy efficiency programs that are recovered from customers in rates, most of which have no impact on earnings. Energy Efficiency Programs expense includes a deferral adjustment that reflects the actual costs of energy efficiency programs compared to the amounts billed to customers, which can fluctuate from period to period based on the timing of costs incurred and related rate changes to recover these costs. The variance in Energy Efficiency Programs expense for the six month period is due primarily to the following:

•The increase at CL&P was due to the deferral adjustment, partially offset by lower program spending.

•The decrease at NSTAR Electric was due to the deferral adjustment, partially offset by higher program spending.

•The increase at PSNH was due to higher program spending, partially offset by the deferral adjustment.

Taxes Other Than Income Taxes - the variance is due primarily to the following:

•The increase at CL&P was due primarily to higher property taxes as a result of higher utility plant balances.

•The increase at NSTAR Electric was due primarily to higher property taxes as a result of higher utility plant balances and higher assessments.

Interest Expense - the variance is due primarily to the following:

•The increase at CL&P was due to higher interest on long-term debt as a result of new debt issuances ($14.7 million), higher interest on short-term notes payable due to increased borrowings ($4.9 million), an increase in interest expense on regulatory deferrals ($4.1 million), and higher amortization of debt discounts and premiums, net ($0.4 million), partially offset by an increase in capitalized AFUDC related to debt funds ($0.7 million).

•The increase at NSTAR Electric was due to an increase in interest expense on regulatory deferrals ($7.3 million), higher interest on long-term debt as a result of new debt issuances ($6.2 million), and higher interest on short-term notes payable due to increased borrowings ($5.6 million), partially offset by an increase in capitalized AFUDC related to debt funds ($6.9 million).

•The increase at PSNH was due to higher interest on long-term debt as a result of new debt issuances ($6.8 million) and higher interest on short-term notes payable ($0.6 million), partially offset by an increase in capitalized AFUDC related to debt funds ($2.9 million), a decrease in interest expense on regulatory deferrals ($0.8 million), a decrease in RRB interest expense ($0.7 million) and lower amortization of debt discounts and premiums, net ($0.3 million).

Other Income, Net - the variance is due primarily to the following:

•The increase at CL&P was due primarily to an increase in interest income primarily on regulatory deferrals ($11.7 million), an increase in capitalized AFUDC related to equity funds ($2.8 million) and lower investment losses driven by market volatility ($0.8 million), partially offset by a decrease related to pension, SERP and PBOP non-service income components ($4.2 million).

•The increase at NSTAR Electric was due primarily to an increase in capitalized AFUDC related to equity funds ($9.9 million), an increase in interest income primarily on regulatory deferrals ($6.8 million) and investment income in 2024 compared to investment loss in 2023 driven by market volatility ($1.1 million), partially offset by a decrease related to pension, SERP and PBOP non-service income components ($3.2 million).

•The increase at PSNH was due primarily to an increase in interest income primarily on regulatory deferrals ($2.0 million) and an increase in capitalized AFUDC related to equity funds ($1.8 million), partially offset by a decrease related to pension, SERP and PBOP non-service income components ($0.8 million).

Income Tax Expense - the variance is due primarily to the following:

•The decrease at CL&P was due primarily to lower pre-tax earnings ($3.2 million), lower state taxes ($2.2 million), and a decrease in valuation allowances ($2.8 million), partially offset by a higher share-based payment tax deficiency ($0.6 million), a decrease in amortization of EDIT ($1.3 million) and an increase in items that impact our tax rate as a result of regulatory treatment (flow-through items) and permanent differences ($2.7 million).

•The increase at NSTAR Electric was due primarily to higher pre-tax earnings ($15.7 million), higher state taxes ($4.4 million), a higher share-based payment tax deficiency ($0.6 million), and a decrease in amortization of EDIT ($7.0 million), partially offset by a decrease in items that impact our tax rate as a result of regulatory treatment (flow-through items) and permanent differences ($2.1 million).

•The increase at PSNH was due primarily to higher pre-tax earnings ($0.1 million), and a decrease in amortization of EDIT ($1.0 million), partially offset by lower state taxes ($0.1 million), and a decrease in items that impact our tax rate as a result of regulatory treatment (flow-through items) and permanent differences ($0.1 million).

EARNINGS SUMMARY

CL&P's earnings decreased $11.7 million for the six month period due primarily to higher operations and maintenance expense, higher interest expense, and higher depreciation expense, partially offset by an increase in transmission earnings driven primarily by a higher transmission rate base, higher revenues from its capital tracking mechanism due to increased electric system improvements, and an increase in interest income primarily on regulatory deferrals.

NSTAR Electric's earnings increased $49.0 million for the six month period due primarily to higher revenues as a result of the base distribution rate increase effective January 1, 2024, an increase in transmission earnings driven primarily by a higher transmission rate base, an increase in

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interest income primarily on regulatory deferrals, and higher AFUDC equity income. The earnings increase was partially offset by higher interest expense, higher property tax expense, higher operations and maintenance expense, and higher depreciation expense.

PSNH's earnings decreased $0.9 million for the six month period due primarily to the absence of a prior year benefit related to the establishment of a new regulatory tracking mechanism that allowed for the recovery of previously incurred operating expenses associated with poles acquired on May 1, 2023, higher depreciation expense, and higher interest expense. The earnings decrease was partially offset by an increase in transmission earnings driven primarily by a higher transmission rate base, and higher base distribution revenues driven by an increase in sales volumes.

LIQUIDITY

Cash Flows: CL&P had cash flows provided by operating activities of $109.8 million for the six months ended June 30, 2024, as compared to $129.0 million in the same period of 2023. The decrease in operating cash flows was due primarily to an increase in regulatory under-recoveries driven primarily by the timing of collections for energy supply costs, costs included in the SBC and other regulatory tracking mechanisms, the timing of cash collections on our accounts receivable, and the timing of other working capital items. The impacts of regulatory collections are included in both Regulatory Recoveries and Amortization of Regulatory Liabilities, Net on the statements of cash flows. These unfavorable impacts were partially offset by the timing of cash payments made on our accounts payable, a $40.1 million decrease in cash payments to vendors for storm costs, and a decrease in cost of removal expenditures.

NSTAR Electric had cash flows provided by operating activities of $341.4 million for the six months ended June 30, 2024, as compared to $233.5 million in the same period of 2023. The increase in operating cash flows was due primarily to a decrease in regulatory under-recoveries driven primarily by the timing of collections for net metering costs, solar costs and other regulatory tracking mechanisms, a decrease in cost of removal expenditures, and the timing of other working capital items. The impacts of regulatory collections are included in both Regulatory Recoveries and Amortization of Regulatory Assets, Net on the statements of cash flows. These favorable impacts were partially offset by a $72.2 million decrease in operating cash flows due to income tax payments made in 2024 compared to income tax refunds received in 2023, a $35.4 million increase in cash payments to vendors for storm costs, the timing of cash collections on our accounts receivable, and the timing of cash payments made on our accounts payable.

PSNH had cash flows provided by operating activities of $76.5 million for the six months ended June 30, 2024, as compared to cash flows used in operating activities of $92.6 million in the same period of 2023.  The increase in operating cash flows was due primarily to a decrease in regulatory under-recoveries driven primarily by the timing of collections for energy supply costs, stranded costs and other regulatory tracking mechanisms, the timing of cash payments made on our accounts payable, a $37.9 million decrease in cash payments to vendors for storm costs, and the timing of other working capital items. The impacts of regulatory collections are included in both Regulatory Recoveries and Amortization of Regulatory Assets/(Liabilities), Net on the statements of cash flows. These favorable impacts were partially offset by a $41.5 million decrease in income tax refunds received in 2024 compared to 2023, the timing of cash collections on our accounts receivable, and an increase in cost of removal expenditures.

For further information on CL&P's, NSTAR Electric's and PSNH's liquidity and capital resources, see "Liquidity" and "Business Development and Capital Expenditures" included in this Management's Discussion and Analysis of Financial Condition and Results of Operations.

ITEM 3.     QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Market Risk Information

Commodity Price Risk Management:  Our regulated companies enter into energy contracts to serve our customers, and the economic impacts of those contracts are passed on to our customers. Accordingly, the regulated companies have no exposure to loss of future earnings or fair values due to these market risk-sensitive instruments.  Eversource's Energy Supply Risk Committee, comprised of senior officers, reviews and approves all large-scale energy related transactions entered into by its regulated companies.

Other Risk Management Activities

Interest Rate Risk Management:  Interest rate risk is associated with changes in interest rates for our outstanding long-term debt. Our interest rate risk is significantly reduced as typically all or most of our debt financings have fixed interest rates. As of June 30, 2024, all of our long-term debt was at a fixed interest rate.

Credit Risk Management:  Credit risk relates to the risk of loss that we would incur as a result of non-performance by counterparties pursuant to the terms of our contractual obligations.  We serve a wide variety of customers and transact with suppliers that include IPPs, industrial companies, natural gas and electric utilities, oil and natural gas producers, financial institutions, and other energy marketers.  Margin accounts exist within this diverse group, and we realize interest receipts and payments related to balances outstanding in these margin accounts.  This wide customer and supplier mix generates a need for a variety of contractual structures, products and terms that, in turn, require us to manage the portfolio of market risk inherent in those transactions in a manner consistent with the parameters established by our risk management process.

Our regulated companies are subject to credit risk from certain long-term or high-volume supply contracts with energy marketing companies.  Our regulated companies manage the credit risk with these counterparties in accordance with established credit risk practices and monitor contracting risks, including credit risk.  As of June 30, 2024, our regulated companies held collateral (letters of credit or cash) of $5.5 million from counterparties related to our standard service contracts.  As of June 30, 2024, Eversource had $14.5 million of cash posted with ISO-NE related to energy transactions.

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We have provided additional disclosures regarding interest rate risk management and credit risk management in Part II, Item 7A, "Quantitative and Qualitative Disclosures about Market Risk," in Eversource's 2023 Form 10-K, which is incorporated herein by reference. There have been no additional risks identified and no material changes with regard to the items previously disclosed in the Eversource 2023 Form 10-K.

ITEM 4.    CONTROLS AND PROCEDURES

Management, on behalf of Eversource, CL&P, NSTAR Electric and PSNH, evaluated the design and operation of the disclosure controls and procedures as of June 30, 2024 to determine whether they are effective in ensuring that the disclosure of required information is made timely and in accordance with the Securities Exchange Act of 1934 and the rules and regulations of the SEC.  This evaluation was made under management's supervision and with management's participation, including the principal executive officer and principal financial officer as of the end of the period covered by this Quarterly Report on Form 10-Q.  There are inherent limitations of disclosure controls and procedures, including the possibility of human error and the circumventing or overriding of the controls and procedures.  Accordingly, even effective disclosure controls and procedures can only provide reasonable assurance of achieving their control objectives.  The principal executive officer and principal financial officer have concluded, based on their review, that the disclosure controls and procedures of Eversource, CL&P, NSTAR Electric and PSNH are effective to ensure that information required to be disclosed by us in reports filed under the Securities Exchange Act of 1934 (i) is recorded, processed, summarized, and reported within the time periods specified in SEC rules and regulations and (ii) is accumulated and communicated to management, including the principal executive officer and principal financial officer, as appropriate to allow timely decisions regarding required disclosures.

There have been no changes in internal controls over financial reporting for Eversource, CL&P, NSTAR Electric and PSNH during the quarter ended June 30, 2024 that have materially affected, or are reasonably likely to materially affect, internal controls over financial reporting.

PART II. OTHER INFORMATION

ITEM 1.    LEGAL PROCEEDINGS

We are parties to various legal proceedings.  We have disclosed certain legal proceedings in Part I, Item 3, "Legal Proceedings," and elsewhere in our 2023 Form 10-K.  These disclosures are incorporated herein by reference.  There have been no material legal proceedings identified and no material changes with regard to the legal proceedings previously disclosed in our 2023 Form 10-K.

ITEM 1A.    RISK FACTORS

We are subject to a variety of significant risks in addition to the matters set forth under our forward-looking statements section in Item 2, "Management's Discussion and Analysis of Financial Condition and Results of Operations," of this Quarterly Report on Form 10-Q. We have identified a number of these risk factors in Part I, Item 1A, "Risk Factors," in our 2023 Form 10-K, which risk factors are incorporated herein by reference. These risk factors should be considered carefully in evaluating our risk profile. There have been no additional risk factors identified and no material changes with regard to the risk factors previously disclosed in our 2023 Form 10-K.

ITEM 2.    UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

The following table discloses purchases of our common shares made by us or on our behalf for the periods shown below.  The common shares purchased consist of open market purchases made by the Company or an independent agent.  These share transactions related to matching contributions under the Eversource 401k Plan.

Period	Total Number of Shares Purchased	Average Price Paid per Share		Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs	Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans and Programs (at month end)
April 1 - April 30, 2024	3,243	$	58.65	—	—
May 1 - May 31, 2024	—	—		—	—
June 1 - June 30, 2024	3,421	56.63		—	—
Total	6,664	$	57.61	—	—

ITEM 3.    DEFAULTS UPON SENIOR SECURITIES

Not applicable.

ITEM 4.    MINE SAFETY DISCLOSURES

Not applicable.

ITEM 5.    OTHER INFORMATION

During the quarter ended June 30, 2024, none of the Company’s directors or officers adopted, modified, or terminated a “Rule 10b5-1 trading arrangement” or a “non-Rule 10b5-1 trading arrangement,” as such terms are defined under Item 408 of Regulation S-K.

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ITEM 6.    EXHIBITS

Each document described below is filed herewith, unless designated with an asterisk (*), which exhibits are incorporated by reference by the registrant under whose name the exhibit appears.

	Exhibit No.	Description
	Listing of Exhibits (Eversource)
	31	Certification by the Chairman of the Board, President and Chief Executive Officer of Eversource Energy pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
	31.1	Certification by the Chief Financial Officer of Eversource Energy pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
	32	Certification by the Chairman of the Board, President and Chief Executive Officer and Chief Financial Officer of Eversource Energy pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
	Listing of Exhibits (CL&P)
	31	Certification by the Chairman and Chief Executive Officer of The Connecticut Light and Power Company pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
	31.1	Certification by the Chief Financial Officer of The Connecticut Light and Power Company pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
	32	Certification by the Chairman and Chief Executive Officer and the Chief Financial Officer of The Connecticut Light and Power Company pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
	Listing of Exhibits (NSTAR Electric Company)
*	4	Form of 5.40% Debenture due 2034 (Exhibit 4.1, NSTAR Electric Company Current Report on Form 8-K filed on May 22, 2024, File No. 001-02301)
	31	Certification by the Chairman of NSTAR Electric Company pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
	31.1	Certification by the Chief Financial Officer of NSTAR Electric Company pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
	32	Certification by the Chairman and the Chief Financial Officer of NSTAR Electric Company pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
	Listing of Exhibits (PSNH)
	31	Certification by the Chairman of Public Service Company of New Hampshire pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
	31.1	Certification by the Chief Financial Officer of Public Service Company of New Hampshire pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
	32	Certification by the Chairman and the Chief Financial Officer of Public Service Company of New Hampshire pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
	Listing of Exhibits (Eversource, CL&P, NSTAR Electric, PSNH)
	101.INS	Inline XBRL Instance Document - the instance document does not appear in the interactive data file because its XBRL tags are embedded within the inline XBRL document
	101.SCH	Inline XBRL Taxonomy Extension Schema
	101.CAL	Inline XBRL Taxonomy Extension Calculation
	101.DEF	Inline XBRL Taxonomy Extension Definition
	101.LAB	Inline XBRL Taxonomy Extension Labels
	101.PRE	Inline XBRL Taxonomy Extension Presentation
	104	The cover page from the Quarterly Report on Form 10-Q for the quarter ended June 30, 2024, formatted in Inline XBRL

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SIGNATURE

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	EVERSOURCE ENERGY
August 2, 2024	By:	/s/ Jay S. Buth
		Jay S. Buth
		Vice President, Controller and Chief Accounting Officer

SIGNATURE

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	THE CONNECTICUT LIGHT AND POWER COMPANY
August 2, 2024	By:	/s/ Jay S. Buth
		Jay S. Buth
		Vice President, Controller and Chief Accounting Officer

SIGNATURE

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	NSTAR ELECTRIC COMPANY
August 2, 2024	By:	/s/ Jay S. Buth
		Jay S. Buth
		Vice President, Controller and Chief Accounting Officer

SIGNATURE

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE
August 2, 2024	By:	/s/ Jay S. Buth
		Jay S. Buth
		Vice President, Controller and Chief Accounting Officer

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EX-31

Exhibit 31

CERTIFICATION PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Joseph R. Nolan, Jr., certify that:

1.I have reviewed this Quarterly Report on Form 10-Q of Eversource Energy (the registrant);

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d)Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5.The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date:  August 2, 2024

/s/	Joseph R. Nolan, Jr.
	Joseph R. Nolan, Jr.
	Chairman of the Board, President and Chief Executive Officer
	(Principal Executive Officer)

EX-31.1

Exhibit 31.1

CERTIFICATION PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, John M. Moreira, certify that:

1.I have reviewed this Quarterly Report on Form 10-Q of Eversource Energy (the registrant);

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d)Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5.The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date:  August 2, 2024

/s/	John M. Moreira
	John M. Moreira
	Executive Vice President, Chief Financial Officer and Treasurer
	(Principal Financial Officer)

EX-32

Exhibit 32

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with this Quarterly Report on Form 10-Q of Eversource Energy (the registrant) for the period ending June 30, 2024 as filed with the Securities and Exchange Commission (the Report), we, Joseph R. Nolan, Jr., Chairman of the Board, President and Chief Executive Officer of the registrant, and John M. Moreira, Executive Vice President, Chief Financial Officer and Treasurer of the registrant, certify, pursuant to 18 U.S.C. Sec. 1350, as adopted pursuant to Sec. 906 of the Sarbanes-Oxley Act of 2002, that:

1)The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2)The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the registrant.

/s/	Joseph R. Nolan, Jr.
	Joseph R. Nolan, Jr.
	Chairman of the Board, President and Chief Executive Officer

/s/	John M. Moreira
	John M. Moreira
	Executive Vice President, Chief Financial Officer and Treasurer

Date:  August 2, 2024

EX-31

Exhibit 31

CERTIFICATION PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Paul Chodak III, certify that:

1.I have reviewed this Quarterly Report on Form 10-Q of The Connecticut Light and Power Company (the registrant);

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d)Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5.The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date:  August 2, 2024

/s/	Paul Chodak III
	Paul Chodak III
	Chairman and Chief Executive Officer
	(Principal Executive Officer)

EX-31.1

Exhibit 31.1

CERTIFICATION PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, John M. Moreira, certify that:

1.I have reviewed this Quarterly Report on Form 10-Q of The Connecticut Light and Power Company (the registrant);

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d)Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5.The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date:  August 2, 2024

/s/	John M. Moreira
	John M. Moreira
	Executive Vice President, Chief Financial Officer and Treasurer
	(Principal Financial Officer)

EX-32

Exhibit 32

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with this Quarterly Report on Form 10-Q of The Connecticut Light and Power Company (the registrant) for the period ending June 30, 2024 as filed with the Securities and Exchange Commission (the Report), we, Paul Chodak III, Chairman and Chief Executive Officer of the registrant, and John M. Moreira, Executive Vice President, Chief Financial Officer and Treasurer of the registrant, certify, pursuant to 18 U.S.C. Sec. 1350, as adopted pursuant to Sec. 906 of the Sarbanes-Oxley Act of 2002, that:

1)The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2)The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the registrant.

/s/	Paul Chodak III
	Paul Chodak III
	Chairman and Chief Executive Officer

/s/	John M. Moreira
	John M. Moreira
	Executive Vice President, Chief Financial Officer and Treasurer

Date:  August 2, 2024

EX-31

Exhibit 31

CERTIFICATION PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Joseph R. Nolan, Jr., certify that:

1.I have reviewed this Quarterly Report on Form 10-Q of NSTAR Electric Company (the registrant);

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d)Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5.The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date:  August 2, 2024

/s/	Joseph R. Nolan, Jr.
	Joseph R. Nolan, Jr.
	Chairman
	(Principal Executive Officer)

EX-31.1

Exhibit 31.1

CERTIFICATION PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, John M. Moreira, certify that:

1.I have reviewed this Quarterly Report on Form 10-Q of NSTAR Electric Company (the registrant);

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d)Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5.The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date:  August 2, 2024

/s/	John M. Moreira
	John M. Moreira
	Executive Vice President, Chief Financial Officer and Treasurer
	(Principal Financial Officer)

EX-32

Exhibit 32

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with this Quarterly Report on Form 10-Q of NSTAR Electric Company (the registrant) for the period ending June 30, 2024 as filed with the Securities and Exchange Commission (the Report), we, Joseph R. Nolan, Jr., Chairman of the registrant, and John M. Moreira, Executive Vice President, Chief Financial Officer and Treasurer of the registrant, certify, pursuant to 18 U.S.C. Sec. 1350, as adopted pursuant to Sec. 906 of the Sarbanes-Oxley Act of 2002, that:

1)The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2)The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the registrant.

/s/	Joseph R. Nolan, Jr.
	Joseph R. Nolan, Jr.
	Chairman

/s/	John M. Moreira
	John M. Moreira
	Executive Vice President, Chief Financial Officer and Treasurer

Date:  August 2, 2024

EX-31

Exhibit 31

CERTIFICATION PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Joseph R. Nolan, Jr., certify that:

1.I have reviewed this Quarterly Report on Form 10-Q of Public Service Company of New Hampshire (the registrant);

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d)Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5.The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date:  August 2, 2024

/s/	Joseph R. Nolan, Jr.
	Joseph R. Nolan, Jr.
	Chairman
	(Principal Executive Officer)

EX-31.1

Exhibit 31.1

CERTIFICATION PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, John M. Moreira, certify that:

1.I have reviewed this Quarterly Report on Form 10-Q of Public Service Company of New Hampshire (the registrant);

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d)Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5.The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date:  August 2, 2024

/s/	John M. Moreira
	John M. Moreira
	Executive Vice President, Chief Financial Officer and Treasurer
	(Principal Financial Officer)

EX-32

Exhibit 32

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with this Quarterly Report on Form 10-Q of Public Service Company of New Hampshire (the registrant) for the period ending June 30, 2024 as filed with the Securities and Exchange Commission (the Report), we, Joseph R. Nolan, Jr., Chairman of the registrant, and John M. Moreira, Executive Vice President, Chief Financial Officer and Treasurer of the registrant, certify, pursuant to 18 U.S.C. Sec. 1350, as adopted pursuant to Sec. 906 of the Sarbanes-Oxley Act of 2002, that:

1)The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2)The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the registrant.

/s/	Joseph R. Nolan, Jr.
	Joseph R. Nolan, Jr.
	Chairman

/s/	John M. Moreira
	John M. Moreira
	Executive Vice President, Chief Financial Officer and Treasurer

Date:  August 2, 2024

XML

COVER PAGE - shares	6 Months Ended
	Jun. 30, 2024	Jul. 31, 2024
Document And Entity [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity Registrant Name	EVERSOURCE ENERGY
Entity Incorporation, State or Country Code	MA
Entity Address, Address Line One	300 Cadwell Drive
Entity Address, City or Town	Springfield
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	01104
City Area Code	800
Local Phone Number	286-5000
Entity File Number	001-05324
Entity Tax Identification Number	04-2147929
Title of 12(b) Security	Common Shares, $5.00 par value per share
Trading Symbol	ES
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Smaller Reporting Company	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		357,384,733
Entity Central Index Key	0000072741
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false
The Connecticut Light and Power Company
Document And Entity [Line Items]
Entity Registrant Name	THE CONNECTICUT LIGHT AND POWER COMPANY
Entity Incorporation, State or Country Code	CT
Entity Address, Address Line One	107 Selden Street
Entity Address, City or Town	Berlin
Entity Address, State or Province	CT
Entity Address, Postal Zip Code	06037-1616
City Area Code	800
Local Phone Number	286-5000
Entity File Number	000-00404
Entity Tax Identification Number	06-0303850
Entity Filer Category	Non-accelerated Filer
Entity Smaller Reporting Company	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		6,035,205
Entity Central Index Key	0000023426
Current Fiscal Year End Date	--12-31
NSTAR Electric Company
Document And Entity [Line Items]
Entity Registrant Name	NSTAR ELECTRIC COMPANY
Entity Incorporation, State or Country Code	MA
Entity Address, Address Line One	800 Boylston Street
Entity Address, City or Town	Boston
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02199
City Area Code	800
Local Phone Number	286-5000
Entity File Number	001-02301
Entity Tax Identification Number	04-1278810
Entity Filer Category	Non-accelerated Filer
Entity Smaller Reporting Company	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		200
Entity Central Index Key	0000013372
Current Fiscal Year End Date	--12-31
Public Service Company of New Hampshire
Document And Entity [Line Items]
Entity Registrant Name	PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE
Entity Incorporation, State or Country Code	NH
Entity Address, Address Line One	Energy Park
Entity Address, Address Line Two	780 North Commercial Street
Entity Address, City or Town	Manchester
Entity Address, State or Province	NH
Entity Address, Postal Zip Code	03101-1134
City Area Code	800
Local Phone Number	286-5000
Entity File Number	001-06392
Entity Tax Identification Number	02-0181050
Entity Filer Category	Non-accelerated Filer
Entity Smaller Reporting Company	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		301
Entity Central Index Key	0000315256
Current Fiscal Year End Date	--12-31

XML

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current Assets:
Cash	$ 33,381	$ 53,873
Receivables, Net (net of allowance for uncollectible accounts)	1,473,255	1,431,531
Unbilled Revenues	196,710	225,325
Materials, Supplies, Natural Gas and REC Inventory	532,415	507,307
Regulatory Assets	2,071,652	1,674,196
Prepayments and Other Current Assets	365,209	355,762
Total Current Assets	4,672,622	4,247,994
Property, Plant and Equipment, Net	41,126,153	39,498,607
Deferred Debits and Other Assets:
Regulatory Assets	4,995,989	4,714,970
Goodwill	4,532,135	4,532,100
Investments in Unconsolidated Affiliates	949,037	660,473
Prepaid Pension and PBOP	1,101,017	1,028,207
Marketable Securities	331,730	337,814
Other Long-Term Assets	643,771	592,080
Total Deferred Debits and Other Assets	12,553,679	11,865,644
Total Assets	58,352,454	55,612,245
Current Liabilities:
Notes Payable	1,401,600	1,930,422
Long-Term Debt – Current Portion	1,328,251	824,847
Rate Reduction Bonds – Current Portion	43,210	43,210
Accounts Payable	1,759,283	1,869,187
Accrued Interest	327,814	260,577
Regulatory Liabilities	652,291	591,750
Other Current Liabilities	740,700	821,404
Total Current Liabilities	6,253,149	6,341,397
Deferred Credits and Other Liabilities:
Accumulated Deferred Income Taxes	5,249,786	5,303,730
Regulatory Liabilities	4,092,811	4,022,923
Asset Retirement Obligations	508,733	505,844
Accrued Pension, SERP and PBOP	125,381	123,754
Other Long-Term Liabilities	966,558	1,029,238
Total Deferred Credits and Other Liabilities	10,943,269	10,985,489
Long-Term Debt	25,836,078	23,588,616
Rate Reduction Bonds	345,677	367,282
Noncontrolling Interest – Preferred Stock of Subsidiaries	155,568	155,569
Common Shareholders' Equity:
Common Shares	1,820,954	1,799,920
Capital Surplus, Paid In	8,710,844	8,460,876
Retained Earnings	4,496,830	4,142,515
Accumulated Other Comprehensive Loss	(29,581)	(33,737)
Treasury Stock	(180,334)	(195,682)
Common Shareholders' Equity	14,818,713	14,173,892
Commitments and Contingencies
Total Liabilities and Capitalization	$ 58,352,454	$ 55,612,245

XML

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Allowance for uncollectible accounts	$ 579,582	$ 554,455

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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Operating Revenues	$ 2,533,522	$ 2,629,342	$ 5,866,097	$ 6,424,985
Operating Expenses:
Purchased Power, Purchased Natural Gas and Transmission	841,431	1,161,067	2,077,387	3,064,313
Operations and Maintenance	464,424	427,290	927,388	881,852
Depreciation	354,591	319,995	694,505	632,949
Amortization	(114,137)	(218,422)	(116,462)	(294,481)
Energy Efficiency Programs	145,288	145,823	358,767	368,774
Taxes Other Than Income Taxes	239,427	232,927	476,042	461,344
Total Operating Expenses	1,931,024	2,068,680	4,417,627	5,114,751
Operating Income	602,498	560,662	1,448,470	1,310,234
Interest Expense	271,316	207,313	522,064	401,858
Impairment of Offshore Wind Investment	0	401,000	0	401,000
Other Income, Net	115,285	94,875	206,315	183,857
Income Before Income Tax Expense	446,467	47,224	1,132,721	691,233
Income Tax Expense	109,246	29,922	271,772	180,893
Net Income	337,221	17,302	860,949	510,340
Net Income Attributable to Noncontrolling Interests	1,880	1,880	3,759	3,759
Net Income Attributable to Common Shareholders	$ 335,341	$ 15,422	$ 857,190	$ 506,581
Basic Earnings Per Common Share (in dollars per share)	$ 0.95	$ 0.04	$ 2.44	$ 1.45
Diluted Earnings Per Common Share (in dollars per share)	$ 0.95	$ 0.04	$ 2.43	$ 1.45
Weighted Average Common Shares Outstanding:
Basic (in shares)	353,212,378	349,462,359	351,964,747	349,339,752
Diluted (in shares)	353,419,658	349,729,982	352,208,440	349,670,996

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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net Income	$ 337,221	$ 17,302	$ 860,949	$ 510,340
Other Comprehensive (Loss)/Income, Net of Tax:
Qualified Cash Flow Hedging Instruments	5	5	10	10
Changes in Unrealized Gains on Marketable Securities	0	0	0	1,254
Changes in Funded Status of Pension, SERP and PBOP Benefit Plans	(1,052)	4,083	4,146	6,054
Other Comprehensive (Loss)/Income, Net of Tax	(1,047)	4,088	4,156	7,318
Comprehensive Income Attributable to Noncontrolling Interests	(1,880)	(1,880)	(3,759)	(3,759)
Comprehensive Income Attributable to Common Shareholders	$ 334,294	$ 19,510	$ 861,346	$ 513,899

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CONDENSED CONSOLIDATED STATEMENTS OF COMMON SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Shares	Capital Surplus, Paid In	Retained Earnings	Accumulated Other Comprehensive Loss	Treasury Stock
Beginning balance (in shares) at Dec. 31, 2022		348,443,855
Beginning balance at Dec. 31, 2022	$ 15,473,158	$ 1,799,920	$ 8,401,731	$ 5,527,153	$ (39,421)	$ (216,225)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	493,039			493,039
Dividends on Common Stock	(235,354)			(235,354)
Dividends on Preferred Stock	(1,880)			(1,880)
Long-Term Incentive Plan Activity	(13,141)		(13,141)
Issuance of Treasury Shares (in shares)		364,227
Issuance of Treasury Shares	30,319		23,495			6,824
Other Comprehensive Income (Loss)	3,230				3,230
Ending balance (in shares) at Mar. 31, 2023		348,808,082
Ending balance at Mar. 31, 2023	15,749,371	$ 1,799,920	8,412,085	5,782,958	(36,191)	(209,401)
Beginning balance (in shares) at Dec. 31, 2022		348,443,855
Beginning balance at Dec. 31, 2022	15,473,158	$ 1,799,920	8,401,731	5,527,153	(39,421)	(216,225)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	510,340
Other Comprehensive Income (Loss)	7,318
Ending balance (in shares) at Jun. 30, 2023		349,021,936
Ending balance at Jun. 30, 2023	15,554,098	$ 1,799,920	8,428,786	5,562,889	(32,103)	(205,394)
Beginning balance (in shares) at Mar. 31, 2023		348,808,082
Beginning balance at Mar. 31, 2023	15,749,371	$ 1,799,920	8,412,085	5,782,958	(36,191)	(209,401)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	17,302			17,302
Dividends on Common Stock	(235,491)			(235,491)
Dividends on Preferred Stock	(1,880)			(1,880)
Long-Term Incentive Plan Activity	5,155		5,155
Issuance of Treasury Shares (in shares)		213,854
Issuance of Treasury Shares	15,553		11,546			4,007
Other Comprehensive Income (Loss)	4,088				4,088
Ending balance (in shares) at Jun. 30, 2023		349,021,936
Ending balance at Jun. 30, 2023	$ 15,554,098	$ 1,799,920	8,428,786	5,562,889	(32,103)	(205,394)
Beginning balance (in shares) at Dec. 31, 2023	349,540,266	349,540,266
Beginning balance at Dec. 31, 2023	$ 14,173,892	$ 1,799,920	8,460,876	4,142,515	(33,737)	(195,682)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	523,728			523,728
Dividends on Common Stock	(250,770)			(250,770)
Dividends on Preferred Stock	(1,880)			(1,880)
Issuance of Common Shares (in shares)		1,292,892
Issuance of Common Shares	76,437	$ 6,465	69,972
Long-Term Incentive Plan Activity	(22,405)		(22,405)
Issuance of Treasury Shares (in shares)		546,256
Issuance of Treasury Shares	40,425		30,190			10,235
Capital Stock Expense	(1,042)		(1,042)
Other Comprehensive Income (Loss)	5,203				5,203
Ending balance (in shares) at Mar. 31, 2024		351,379,414
Ending balance at Mar. 31, 2024	$ 14,543,588	$ 1,806,385	8,537,591	4,413,593	(28,534)	(185,447)
Beginning balance (in shares) at Dec. 31, 2023	349,540,266	349,540,266
Beginning balance at Dec. 31, 2023	$ 14,173,892	$ 1,799,920	8,460,876	4,142,515	(33,737)	(195,682)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	860,949
Other Comprehensive Income (Loss)	$ 4,156
Ending balance (in shares) at Jun. 30, 2024	354,566,071	354,566,071
Ending balance at Jun. 30, 2024	$ 14,818,713	$ 1,820,954	8,710,844	4,496,830	(29,581)	(180,334)
Beginning balance (in shares) at Mar. 31, 2024		351,379,414
Beginning balance at Mar. 31, 2024	14,543,588	$ 1,806,385	8,537,591	4,413,593	(28,534)	(185,447)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	337,221			337,221
Dividends on Common Stock	(252,104)			(252,104)
Dividends on Preferred Stock	(1,880)			(1,880)
Issuance of Common Shares (in shares)		2,913,757
Issuance of Common Shares	174,657	$ 14,569	160,088
Long-Term Incentive Plan Activity	4,245		4,245
Issuance of Treasury Shares (in shares)		272,900
Issuance of Treasury Shares	15,896		10,783			5,113
Capital Stock Expense	(1,863)		(1,863)
Other Comprehensive Income (Loss)	$ (1,047)				(1,047)
Ending balance (in shares) at Jun. 30, 2024	354,566,071	354,566,071
Ending balance at Jun. 30, 2024	$ 14,818,713	$ 1,820,954	$ 8,710,844	$ 4,496,830	$ (29,581)	$ (180,334)

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CONDENSED CONSOLIDATED STATEMENTS OF COMMON SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023
Statement of Stockholders' Equity [Abstract]
Dividends on Common Shares (in dollars per share)	$ 0.715	$ 0.715	$ 0.675	$ 0.675
Par value (in dollars per share)	$ 5	$ 5

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Operating Activities:
Net Income	$ 860,949	$ 510,340
Adjustments to Reconcile Net Income to Net Cash Flows Provided by/(Used In) Operating Activities:
Depreciation	694,505	632,949
Deferred Income Taxes	297,901	155,035
Uncollectible Expense	26,279	24,171
Pension, SERP and PBOP Income, Net	(35,719)	(46,600)
Pension Contributions	(2,500)	(2,400)
Regulatory (Under)/Over Recoveries, Net	(383,152)	(112,050)
Amortization	(116,462)	(294,481)
Cost of Removal Expenditures	(113,024)	(183,552)
Impairment of Offshore Wind Investment		401,000
Other	(99,544)	(13,423)
Changes in Current Assets and Liabilities:
Receivables and Unbilled Revenues, Net	(95,839)	137,819
Taxes Receivable/Accrued, Net	41,275	49,201
Accounts Payable	(82,355)	(489,132)
Other Current Assets and Liabilities, Net	(30,288)	(121,600)
Net Cash Flows Provided by/(Used In) Operating Activities	962,026	647,277
Investing Activities:
Investments in Property, Plant and Equipment	(2,220,917)	(2,039,512)
Proceeds from Sales of Marketable Securities	91,437	215,570
Purchases of Marketable Securities	(83,502)	(194,786)
Investments in Unconsolidated Affiliates	(729,354)	(390,002)
Other Investing Activities	11,355	11,055
Net Cash Flows Used in Investing Activities	(2,930,981)	(2,397,675)
Financing Activities:
Issuance of Common Shares, Net of Issuance Costs	248,189	0
Cash Dividends on Common Shares	(490,910)	(458,959)
Cash Dividends on Preferred Stock	(3,759)	(3,759)
Decrease in Notes Payable	(698,252)	(589,200)
Repayment of Rate Reduction Bonds	(21,605)	(21,605)
Issuance of Long-Term Debt	3,850,000	3,361,000
Retirement of Long-Term Debt	(900,000)	(853,000)
Other Financing Activities	(48,493)	(27,839)
Net Cash Flows Provided by Financing Activities	1,935,170	1,406,638
Net (Decrease)/Increase in Cash and Restricted Cash	(33,785)	(343,760)
Cash and Restricted Cash - Beginning of Period	166,418	521,752
Cash and Restricted Cash - End of Period	$ 132,633	$ 177,992

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THE CONNECTICUT LIGHT AND POWER COMPANY CONDENSED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current Assets:
Cash	$ 33,381	$ 53,873
Receivables, Net (net of allowance for uncollectible accounts)	1,473,255	1,431,531
Unbilled Revenues	196,710	225,325
Materials, Supplies and REC Inventory	532,415	507,307
Regulatory Assets	2,071,652	1,674,196
Prepayments and Other Current Assets	365,209	355,762
Total Current Assets	4,672,622	4,247,994
Property, Plant and Equipment, Net	41,126,153	39,498,607
Deferred Debits and Other Assets:
Regulatory Assets	4,995,989	4,714,970
Prepaid Pension and PBOP	1,101,017	1,028,207
Other Long-Term Assets	643,771	592,080
Total Deferred Debits and Other Assets	12,553,679	11,865,644
Total Assets	58,352,454	55,612,245
Current Liabilities:
Long-Term Debt – Current Portion	1,328,251	824,847
Accounts Payable	1,759,283	1,869,187
Regulatory Liabilities	652,291	591,750
Other Current Liabilities	740,700	821,404
Total Current Liabilities	6,253,149	6,341,397
Deferred Credits and Other Liabilities:
Accumulated Deferred Income Taxes	5,249,786	5,303,730
Regulatory Liabilities	4,092,811	4,022,923
Other Long-Term Liabilities	966,558	1,029,238
Total Deferred Credits and Other Liabilities	10,943,269	10,985,489
Long-Term Debt	25,836,078	23,588,616
Preferred Stock Not Subject to Mandatory Redemption	155,568	155,569
Common Shareholders' Equity:
Capital Surplus, Paid In	8,710,844	8,460,876
Retained Earnings	4,496,830	4,142,515
Accumulated Other Comprehensive Income	(29,581)	(33,737)
Common Shareholders' Equity	14,818,713	14,173,892
Commitments and Contingencies
Total Liabilities and Capitalization	58,352,454	55,612,245
The Connecticut Light and Power Company
Current Assets:
Cash	0	10,213
Unbilled Revenues	58,505	57,403
Materials, Supplies and REC Inventory	192,600	156,467
Regulatory Assets	860,776	480,369
Prepayments and Other Current Assets	56,444	94,789
Total Current Assets	1,797,919	1,418,684
Property, Plant and Equipment, Net	12,688,615	12,340,192
Deferred Debits and Other Assets:
Regulatory Assets	1,731,870	1,662,778
Prepaid Pension and PBOP	136,231	129,801
Other Long-Term Assets	329,433	298,169
Total Deferred Debits and Other Assets	2,197,534	2,090,748
Total Assets	16,684,068	15,849,624
Current Liabilities:
Notes Payable to Eversource Parent	407,800	249,670
Long-Term Debt – Current Portion	139,845	0
Obligations to Third Party Suppliers	67,364	75,753
Regulatory Liabilities	133,305	102,239
Derivative Liabilities	77,391	81,944
Other Current Liabilities	166,144	127,703
Total Current Liabilities	1,674,404	1,394,090
Deferred Credits and Other Liabilities:
Accumulated Deferred Income Taxes	2,024,055	1,860,122
Regulatory Liabilities	1,351,877	1,315,928
Other Long-Term Liabilities	227,921	258,185
Total Deferred Credits and Other Liabilities	3,603,853	3,434,235
Long-Term Debt	4,814,280	4,814,429
Preferred Stock Not Subject to Mandatory Redemption	116,200	116,200
Common Shareholders' Equity:
Common Stock	60,352	60,352
Capital Surplus, Paid In	3,584,265	3,384,265
Retained Earnings	2,830,542	2,645,868
Accumulated Other Comprehensive Income	172	185
Common Shareholders' Equity	6,475,331	6,090,670
Commitments and Contingencies
Total Liabilities and Capitalization	16,684,068	15,849,624
The Connecticut Light and Power Company | Nonrelated Party
Current Assets:
Receivables, Net (net of allowance for uncollectible accounts)	586,542	558,993
Current Liabilities:
Accounts Payable	586,253	622,055
The Connecticut Light and Power Company | Related Party
Current Assets:
Receivables, Net (net of allowance for uncollectible accounts)	43,052	60,450
Current Liabilities:
Notes Payable to Eversource Parent	407,800	457,000
Accounts Payable	$ 96,302	134,726
Deferred Credits and Other Liabilities:
Long-Term Debt		$ 207,300

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THE CONNECTICUT LIGHT AND POWER COMPANY CONDENSED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Allowance for uncollectible accounts	$ 579,582	$ 554,455
The Connecticut Light and Power Company
Allowance for uncollectible accounts	$ 308,586	$ 296,030

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THE CONNECTICUT LIGHT AND POWER COMPANY CONDENSED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Operating Revenues	$ 2,533,522	$ 2,629,342	$ 5,866,097	$ 6,424,985
Operating Expenses:
Purchased Power and Transmission	841,431	1,161,067	2,077,387	3,064,313
Operations and Maintenance	464,424	427,290	927,388	881,852
Depreciation	354,591	319,995	694,505	632,949
Energy Efficiency Programs	145,288	145,823	358,767	368,774
Taxes Other Than Income Taxes	239,427	232,927	476,042	461,344
Total Operating Expenses	1,931,024	2,068,680	4,417,627	5,114,751
Operating Income	602,498	560,662	1,448,470	1,310,234
Interest Expense	271,316	207,313	522,064	401,858
Other Income, Net	115,285	94,875	206,315	183,857
Income Before Income Tax Expense	446,467	47,224	1,132,721	691,233
Income Tax Expense	109,246	29,922	271,772	180,893
The Connecticut Light and Power Company
Operating Revenues	964,623	1,034,148	2,085,914	2,373,054
Operating Expenses:
Purchased Power and Transmission	480,426	626,411	1,046,423	1,476,976
Operations and Maintenance	197,445	166,566	384,209	326,882
Depreciation	100,411	93,652	198,856	185,889
Amortization of Regulatory Liabilities, Net	(155,031)	(189,922)	(246,744)	(312,236)
Energy Efficiency Programs	31,540	28,137	67,140	60,783
Taxes Other Than Income Taxes	96,393	94,602	200,193	196,184
Total Operating Expenses	751,184	819,446	1,650,077	1,934,478
Operating Income	213,439	214,702	435,837	438,576
Interest Expense	61,894	47,771	116,718	92,972
Other Income, Net	22,977	13,362	39,445	28,299
Income Before Income Tax Expense	174,522	180,293	358,564	373,903
Income Tax Expense	42,921	46,993	88,610	92,187
Net Income	$ 131,601	$ 133,300	$ 269,954	$ 281,716

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THE CONNECTICUT LIGHT AND POWER COMPANY CONDENSED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Other Comprehensive (Loss)/Income, Net of Tax:
Comprehensive Income Attributable to Common Shareholders	$ 334,294	$ 19,510	$ 861,346	$ 513,899
The Connecticut Light and Power Company
Net Income	131,601	133,300	269,954	281,716
Other Comprehensive (Loss)/Income, Net of Tax:
Qualified Cash Flow Hedging Instruments	(6)	(7)	(13)	(14)
Changes in Unrealized Gains on Marketable Securities	0	0	0	43
Other Comprehensive (Loss)/Income, Net of Tax	(6)	(7)	(13)	29
Comprehensive Income Attributable to Common Shareholders	$ 131,595	$ 133,293	$ 269,941	$ 281,745

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THE CONNECTICUT LIGHT AND POWER COMPANY CONDENSED STATEMENTS OF COMMON STOCKHOLDER'S EQUITY - USD ($) $ in Thousands	Total	Common Stock	Capital Surplus, Paid In	Retained Earnings	Accumulated Other Comprehensive Loss	The Connecticut Light and Power Company	The Connecticut Light and Power Company Common Stock	The Connecticut Light and Power Company Capital Surplus, Paid In	The Connecticut Light and Power Company Retained Earnings	The Connecticut Light and Power Company Accumulated Other Comprehensive Loss
Beginning balance (in shares) at Dec. 31, 2022		348,443,855					6,035,205
Beginning balance at Dec. 31, 2022	$ 15,473,158	$ 1,799,920	$ 8,401,731	$ 5,527,153	$ (39,421)	$ 5,784,380	$ 60,352	$ 3,260,765	$ 2,463,094	$ 169
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income						148,416			148,416
Dividends on Preferred Stock	(1,880)			(1,880)		(1,390)			(1,390)
Dividends on Common Stock	(235,354)			(235,354)		(82,600)			(82,600)
Other Comprehensive Income (Loss)						36				36
Ending balance (in shares) at Mar. 31, 2023		348,808,082					6,035,205
Ending balance at Mar. 31, 2023	15,749,371	$ 1,799,920	8,412,085	5,782,958	(36,191)	5,848,842	$ 60,352	3,260,765	2,527,520	205
Beginning balance (in shares) at Dec. 31, 2022		348,443,855					6,035,205
Beginning balance at Dec. 31, 2022	15,473,158	$ 1,799,920	8,401,731	5,527,153	(39,421)	5,784,380	$ 60,352	3,260,765	2,463,094	169
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income						281,716
Other Comprehensive Income (Loss)						29
Ending balance (in shares) at Jun. 30, 2023		349,021,936					6,035,205
Ending balance at Jun. 30, 2023	15,554,098	$ 1,799,920	8,428,786	5,562,889	(32,103)	5,898,145	$ 60,352	3,260,765	2,576,830	198
Beginning balance (in shares) at Mar. 31, 2023		348,808,082					6,035,205
Beginning balance at Mar. 31, 2023	15,749,371	$ 1,799,920	8,412,085	5,782,958	(36,191)	5,848,842	$ 60,352	3,260,765	2,527,520	205
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income						133,300			133,300
Dividends on Preferred Stock	(1,880)			(1,880)		(1,390)			(1,390)
Dividends on Common Stock	(235,491)			(235,491)		(82,600)			(82,600)
Other Comprehensive Income (Loss)						(7)				(7)
Ending balance (in shares) at Jun. 30, 2023		349,021,936					6,035,205
Ending balance at Jun. 30, 2023	$ 15,554,098	$ 1,799,920	8,428,786	5,562,889	(32,103)	5,898,145	$ 60,352	3,260,765	2,576,830	198
Beginning balance (in shares) at Dec. 31, 2023	349,540,266	349,540,266					6,035,205
Beginning balance at Dec. 31, 2023	$ 14,173,892	$ 1,799,920	8,460,876	4,142,515	(33,737)	6,090,670	$ 60,352	3,384,265	2,645,868	185
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income						138,353			138,353
Dividends on Preferred Stock	(1,880)			(1,880)		(1,390)			(1,390)
Dividends on Common Stock	(250,770)			(250,770)		(82,500)			(82,500)
Capital Contributions from Eversource Parent						100,000		100,000
Other Comprehensive Income (Loss)						(7)				(7)
Ending balance (in shares) at Mar. 31, 2024		351,379,414					6,035,205
Ending balance at Mar. 31, 2024	$ 14,543,588	$ 1,806,385	8,537,591	4,413,593	(28,534)	6,245,126	$ 60,352	3,484,265	2,700,331	178
Beginning balance (in shares) at Dec. 31, 2023	349,540,266	349,540,266					6,035,205
Beginning balance at Dec. 31, 2023	$ 14,173,892	$ 1,799,920	8,460,876	4,142,515	(33,737)	6,090,670	$ 60,352	3,384,265	2,645,868	185
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income						269,954
Other Comprehensive Income (Loss)						(13)
Ending balance (in shares) at Jun. 30, 2024	354,566,071	354,566,071					6,035,205
Ending balance at Jun. 30, 2024	$ 14,818,713	$ 1,820,954	8,710,844	4,496,830	(29,581)	6,475,331	$ 60,352	3,584,265	2,830,542	172
Beginning balance (in shares) at Mar. 31, 2024		351,379,414					6,035,205
Beginning balance at Mar. 31, 2024	14,543,588	$ 1,806,385	8,537,591	4,413,593	(28,534)	6,245,126	$ 60,352	3,484,265	2,700,331	178
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income						131,601			131,601
Dividends on Preferred Stock	(1,880)			(1,880)		(1,390)			(1,390)
Dividends on Common Stock	$ (252,104)			(252,104)
Capital Contributions from Eversource Parent						100,000		100,000
Other Comprehensive Income (Loss)						(6)				(6)
Ending balance (in shares) at Jun. 30, 2024	354,566,071	354,566,071					6,035,205
Ending balance at Jun. 30, 2024	$ 14,818,713	$ 1,820,954	$ 8,710,844	$ 4,496,830	$ (29,581)	$ 6,475,331	$ 60,352	$ 3,584,265	$ 2,830,542	$ 172

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THE CONNECTICUT LIGHT AND POWER COMPANY CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Adjustments to Reconcile Net Income to Net Cash Flows Provided by/(Used In) Operating Activities:
Depreciation	$ 694,505	$ 632,949
Deferred Income Taxes	297,901	155,035
Uncollectible Expense	26,279	24,171
Pension, SERP, and PBOP Income, Net	(35,719)	(46,600)
Regulatory (Under)/Over Recoveries, Net	(383,152)	(112,050)
Cost of Removal Expenditures	(113,024)	(183,552)
Other	(99,544)	(13,423)
Changes in Current Assets and Liabilities:
Receivables and Unbilled Revenues, Net	(95,839)	137,819
Taxes Receivable/Accrued, Net	41,275	49,201
Accounts Payable	(82,355)	(489,132)
Other Current Assets and Liabilities, Net	(30,288)	(121,600)
Net Cash Flows Provided by/(Used In) Operating Activities	962,026	647,277
Investing Activities:
Investments in Property, Plant and Equipment	(2,220,917)	(2,039,512)
Other Investing Activities	11,355	11,055
Net Cash Flows Used in Investing Activities	(2,930,981)	(2,397,675)
Financing Activities:
Cash Dividends on Common Stock	(490,910)	(458,959)
Cash Dividends on Preferred Stock	(3,759)	(3,759)
Issuance of Long-Term Debt	3,850,000	3,361,000
Retirement of Long-Term Debt	(900,000)	(853,000)
(Decrease)/Increase in Notes Payable to Eversource Parent	(698,252)	(589,200)
Other Financing Activities	(48,493)	(27,839)
Net Cash Flows Provided by Financing Activities	1,935,170	1,406,638
Net (Decrease)/Increase in Cash and Restricted Cash	(33,785)	(343,760)
Cash and Restricted Cash - Beginning of Period	166,418	521,752
Cash and Restricted Cash - End of Period	132,633	177,992
The Connecticut Light and Power Company
Operating Activities:
Net Income	269,954	281,716
Adjustments to Reconcile Net Income to Net Cash Flows Provided by/(Used In) Operating Activities:
Depreciation	198,856	185,889
Deferred Income Taxes	146,839	105,162
Uncollectible Expense	6,326	4,750
Pension, SERP, and PBOP Income, Net	(6,379)	(9,083)
Regulatory (Under)/Over Recoveries, Net	(117,569)	39,524
Amortization of Regulatory Liabilities, Net	(246,744)	(312,236)
Cost of Removal Expenditures	(32,317)	(36,781)
Other	(42,305)	(34,571)
Changes in Current Assets and Liabilities:
Receivables and Unbilled Revenues, Net	(53,861)	20,542
Taxes Receivable/Accrued, Net	83,731	132,751
Accounts Payable	(54,887)	(251,326)
Other Current Assets and Liabilities, Net	(41,887)	2,711
Net Cash Flows Provided by/(Used In) Operating Activities	109,757	129,048
Investing Activities:
Investments in Property, Plant and Equipment	(532,235)	(499,920)
Other Investing Activities	0	173
Net Cash Flows Used in Investing Activities	(532,235)	(499,747)
Financing Activities:
Cash Dividends on Common Stock	(82,500)	(165,200)
Cash Dividends on Preferred Stock	(2,779)	(2,779)
Capital Contributions from Eversource Parent	200,000	0
Issuance of Long-Term Debt	350,000	500,000
Retirement of Long-Term Debt	0	(400,000)
(Decrease)/Increase in Notes Payable to Eversource Parent	(49,200)	449,000
Other Financing Activities	(4,218)	(6,521)
Net Cash Flows Provided by Financing Activities	411,303	374,500
Net (Decrease)/Increase in Cash and Restricted Cash	(11,175)	3,801
Cash and Restricted Cash - Beginning of Period	12,243	20,327
Cash and Restricted Cash - End of Period	$ 1,068	$ 24,128

XML

NSTAR ELECTRIC COMPANY AND SUBSIDIARY CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current Assets:
Cash	$ 33,381	$ 53,873
Receivables, Net (net of allowance for uncollectible accounts)	1,473,255	1,431,531
Unbilled Revenues	196,710	225,325
Materials, Supplies and REC Inventory	532,415	507,307
Regulatory Assets	2,071,652	1,674,196
Prepayments and Other Current Assets	365,209	355,762
Total Current Assets	4,672,622	4,247,994
Property, Plant and Equipment, Net	41,126,153	39,498,607
Deferred Debits and Other Assets:
Regulatory Assets	4,995,989	4,714,970
Prepaid Pension and PBOP	1,101,017	1,028,207
Other Long-Term Assets	643,771	592,080
Total Deferred Debits and Other Assets	12,553,679	11,865,644
Total Assets	58,352,454	55,612,245
Current Liabilities:
Notes Payable	1,401,600	1,930,422
Accounts Payable	1,759,283	1,869,187
Regulatory Liabilities	652,291	591,750
Other Current Liabilities	740,700	821,404
Total Current Liabilities	6,253,149	6,341,397
Deferred Credits and Other Liabilities:
Accumulated Deferred Income Taxes	5,249,786	5,303,730
Regulatory Liabilities	4,092,811	4,022,923
Other Long-Term Liabilities	966,558	1,029,238
Total Deferred Credits and Other Liabilities	10,943,269	10,985,489
Long-Term Debt	25,836,078	23,588,616
Preferred Stock Not Subject to Mandatory Redemption	155,568	155,569
Common Shareholders' Equity:
Capital Surplus, Paid In	8,710,844	8,460,876
Retained Earnings	4,496,830	4,142,515
Accumulated Other Comprehensive Income	(29,581)	(33,737)
Common Shareholders' Equity	14,818,713	14,173,892
Commitments and Contingencies
Total Liabilities and Capitalization	58,352,454	55,612,245
NSTAR Electric Company
Current Assets:
Cash	2,730	6,740
Unbilled Revenues	62,319	49,897
Materials, Supplies and REC Inventory	166,717	173,770
Regulatory Assets	757,447	676,083
Prepayments and Other Current Assets	37,050	41,464
Total Current Assets	1,620,300	1,510,295
Property, Plant and Equipment, Net	13,322,862	12,753,787
Deferred Debits and Other Assets:
Regulatory Assets	1,305,490	1,281,836
Prepaid Pension and PBOP	654,183	608,617
Other Long-Term Assets	130,839	116,978
Total Deferred Debits and Other Assets	2,090,512	2,007,431
Total Assets	17,033,674	16,271,513
Current Liabilities:
Notes Payable	236,500	365,847
Obligations to Third Party Suppliers	232,608	139,823
Renewable Portfolio Standards Compliance Obligations	70,689	116,010
Regulatory Liabilities	413,492	368,070
Other Current Liabilities	75,516	84,688
Total Current Liabilities	1,644,455	1,818,756
Deferred Credits and Other Liabilities:
Accumulated Deferred Income Taxes	1,925,079	1,849,613
Regulatory Liabilities	1,619,614	1,585,311
Other Long-Term Liabilities	335,403	327,388
Total Deferred Credits and Other Liabilities	3,880,096	3,762,312
Long-Term Debt	5,092,959	4,496,947
Preferred Stock Not Subject to Mandatory Redemption	43,000	43,000
Common Shareholders' Equity:
Common Stock	0	0
Capital Surplus, Paid In	3,313,842	3,013,842
Retained Earnings	3,059,312	3,136,612
Accumulated Other Comprehensive Income	10	44
Common Shareholders' Equity	6,373,164	6,150,498
Commitments and Contingencies
Total Liabilities and Capitalization	17,033,674	16,271,513
NSTAR Electric Company | Nonrelated Party
Current Assets:
Receivables, Net (net of allowance for uncollectible accounts)	490,160	487,707
Current Liabilities:
Accounts Payable	483,571	599,696
NSTAR Electric Company | Related Party
Current Assets:
Receivables, Net (net of allowance for uncollectible accounts)	103,877	74,634
Current Liabilities:
Accounts Payable	$ 132,079	$ 144,622

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NSTAR ELECTRIC COMPANY AND SUBSIDIARY CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Allowance for uncollectible accounts	$ 579,582	$ 554,455
NSTAR Electric
Allowance for uncollectible accounts	$ 106,174	$ 97,026

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NSTAR ELECTRIC COMPANY AND SUBSIDIARY CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Operating Revenues	$ 2,533,522	$ 2,629,342	$ 5,866,097	$ 6,424,985
Operating Expenses:
Purchased Power and Transmission	841,431	1,161,067	2,077,387	3,064,313
Operations and Maintenance	464,424	427,290	927,388	881,852
Depreciation	354,591	319,995	694,505	632,949
Energy Efficiency Programs	145,288	145,823	358,767	368,774
Taxes Other Than Income Taxes	239,427	232,927	476,042	461,344
Total Operating Expenses	1,931,024	2,068,680	4,417,627	5,114,751
Operating Income	602,498	560,662	1,448,470	1,310,234
Interest Expense	271,316	207,313	522,064	401,858
Other Income, Net	115,285	94,875	206,315	183,857
Income Before Income Tax Expense	446,467	47,224	1,132,721	691,233
Income Tax Expense	109,246	29,922	271,772	180,893
NSTAR Electric Company
Operating Revenues	845,068	818,968	1,792,683	1,775,251
Operating Expenses:
Purchased Power and Transmission	209,348	266,560	482,653	627,485
Operations and Maintenance	163,580	146,852	337,252	312,935
Depreciation	100,286	92,863	197,208	183,292
Amortization of Regulatory Liabilities, Net	21,236	(1,400)	69,627	21,385
Energy Efficiency Programs	66,662	70,687	148,962	156,904
Taxes Other Than Income Taxes	71,049	66,232	131,061	119,743
Total Operating Expenses	632,161	641,794	1,366,763	1,421,744
Operating Income	212,907	177,174	425,920	353,507
Interest Expense	54,689	46,761	104,113	91,626
Other Income, Net	48,421	40,909	95,536	80,782
Income Before Income Tax Expense	206,639	171,322	417,343	342,663
Income Tax Expense	49,036	36,579	99,763	74,107
Net Income	$ 157,603	$ 134,743	$ 317,580	$ 268,556

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NSTAR ELECTRIC COMPANY AND SUBSIDIARY CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Other Comprehensive (Loss)/Income, Net of Tax:
Comprehensive Income Attributable to Common Shareholders	$ 334,294	$ 19,510	$ 861,346	$ 513,899
NSTAR Electric Company
Net Income	157,603	134,743	317,580	268,556
Other Comprehensive (Loss)/Income, Net of Tax:
Changes in Funded Status of SERP Benefit Plan	(23)	(32)	(44)	(65)
Qualified Cash Flow Hedging Instruments	5	5	10	10
Changes in Unrealized Gains on Marketable Securities	0	0	0	12
Other Comprehensive (Loss)/Income, Net of Tax	(18)	(27)	(34)	(43)
Comprehensive Income Attributable to Common Shareholders	$ 157,585	$ 134,716	$ 317,546	$ 268,513

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NSTAR ELECTRIC COMPANY AND SUBSIDIARY CONDENSED CONSOLIDATED STATEMENTS OF COMMON STOCKHOLDER'S EQUITY - USD ($) $ in Thousands	Total	Common Stock	Capital Surplus, Paid In	Retained Earnings	Accumulated Other Comprehensive Loss	NSTAR Electric	NSTAR Electric Common Stock	NSTAR Electric Capital Surplus, Paid In	NSTAR Electric Retained Earnings	NSTAR Electric Accumulated Other Comprehensive Loss
Beginning balance (in shares) at Dec. 31, 2022		348,443,855					200
Beginning balance at Dec. 31, 2022	$ 15,473,158	$ 1,799,920	$ 8,401,731	$ 5,527,153	$ (39,421)	$ 5,700,670	$ 0	$ 2,778,942	$ 2,921,444	$ 284
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income						133,813			133,813
Dividends on Preferred Stock	(1,880)			(1,880)		(490)			(490)
Dividends on Common Stock	(235,354)			(235,354)		(327,400)			(327,400)
Capital Contributions from Eversource Parent						31,300		31,300
Other Comprehensive Income (Loss)						(16)				(16)
Ending balance (in shares) at Mar. 31, 2023		348,808,082					200
Ending balance at Mar. 31, 2023	15,749,371	$ 1,799,920	8,412,085	5,782,958	(36,191)	5,537,877	$ 0	2,810,242	2,727,367	268
Beginning balance (in shares) at Dec. 31, 2022		348,443,855					200
Beginning balance at Dec. 31, 2022	15,473,158	$ 1,799,920	8,401,731	5,527,153	(39,421)	5,700,670	$ 0	2,778,942	2,921,444	284
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income						268,556
Other Comprehensive Income (Loss)						(43)
Ending balance (in shares) at Jun. 30, 2023		349,021,936					200
Ending balance at Jun. 30, 2023	15,554,098	$ 1,799,920	8,428,786	5,562,889	(32,103)	5,753,103	$ 0	2,891,242	2,861,620	241
Beginning balance (in shares) at Mar. 31, 2023		348,808,082					200
Beginning balance at Mar. 31, 2023	15,749,371	$ 1,799,920	8,412,085	5,782,958	(36,191)	5,537,877	$ 0	2,810,242	2,727,367	268
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income						134,743			134,743
Dividends on Preferred Stock	(1,880)			(1,880)		(490)			(490)
Dividends on Common Stock	(235,491)			(235,491)
Capital Contributions from Eversource Parent						81,000		81,000
Other Comprehensive Income (Loss)						(27)				(27)
Ending balance (in shares) at Jun. 30, 2023		349,021,936					200
Ending balance at Jun. 30, 2023	$ 15,554,098	$ 1,799,920	8,428,786	5,562,889	(32,103)	5,753,103	$ 0	2,891,242	2,861,620	241
Beginning balance (in shares) at Dec. 31, 2023	349,540,266	349,540,266					200
Beginning balance at Dec. 31, 2023	$ 14,173,892	$ 1,799,920	8,460,876	4,142,515	(33,737)	6,150,498	$ 0	3,013,842	3,136,612	44
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income						159,977			159,977
Dividends on Preferred Stock	(1,880)			(1,880)		(490)			(490)
Dividends on Common Stock	(250,770)			(250,770)		(96,700)			(96,700)
Capital Contributions from Eversource Parent						300,000		300,000
Other Comprehensive Income (Loss)						(16)				(16)
Ending balance (in shares) at Mar. 31, 2024		351,379,414					200
Ending balance at Mar. 31, 2024	$ 14,543,588	$ 1,806,385	8,537,591	4,413,593	(28,534)	6,513,269	$ 0	3,313,842	3,199,399	28
Beginning balance (in shares) at Dec. 31, 2023	349,540,266	349,540,266					200
Beginning balance at Dec. 31, 2023	$ 14,173,892	$ 1,799,920	8,460,876	4,142,515	(33,737)	6,150,498	$ 0	3,013,842	3,136,612	44
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income						317,580
Other Comprehensive Income (Loss)						(34)
Ending balance (in shares) at Jun. 30, 2024	354,566,071	354,566,071					200
Ending balance at Jun. 30, 2024	$ 14,818,713	$ 1,820,954	8,710,844	4,496,830	(29,581)	6,373,164	$ 0	3,313,842	3,059,312	10
Beginning balance (in shares) at Mar. 31, 2024		351,379,414					200
Beginning balance at Mar. 31, 2024	14,543,588	$ 1,806,385	8,537,591	4,413,593	(28,534)	6,513,269	$ 0	3,313,842	3,199,399	28
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income						157,603			157,603
Dividends on Preferred Stock	(1,880)			(1,880)		(490)			(490)
Dividends on Common Stock	$ (252,104)			(252,104)		(297,200)			(297,200)
Other Comprehensive Income (Loss)						(18)				(18)
Ending balance (in shares) at Jun. 30, 2024	354,566,071	354,566,071					200
Ending balance at Jun. 30, 2024	$ 14,818,713	$ 1,820,954	$ 8,710,844	$ 4,496,830	$ (29,581)	$ 6,373,164	$ 0	$ 3,313,842	$ 3,059,312	$ 10

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NSTAR ELECTRIC COMPANY AND SUBSIDIARY CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Adjustments to Reconcile Net Income to Net Cash Flows Provided by/(Used In) Operating Activities:
Depreciation	$ 694,505	$ 632,949
Deferred Income Taxes	297,901	155,035
Uncollectible Expense	26,279	24,171
Pension, SERP and PBOP Income, Net	(35,719)	(46,600)
Regulatory (Under)/Over Recoveries, Net	(383,152)	(112,050)
Cost of Removal Expenditures	(113,024)	(183,552)
Other	(99,544)	(13,423)
Changes in Current Assets and Liabilities:
Receivables and Unbilled Revenues, Net	(95,839)	137,819
Taxes Receivable/Accrued, Net	41,275	49,201
Accounts Payable	(82,355)	(489,132)
Other Current Assets and Liabilities, Net	(30,288)	(121,600)
Net Cash Flows Provided by/(Used In) Operating Activities	962,026	647,277
Investing Activities:
Investments in Property, Plant and Equipment	(2,220,917)	(2,039,512)
Other Investing Activities	11,355	11,055
Net Cash Flows Used in Investing Activities	(2,930,981)	(2,397,675)
Financing Activities:
Cash Dividends on Common Stock	(490,910)	(458,959)
Cash Dividends on Preferred Stock	(3,759)	(3,759)
Issuance of Long-Term Debt	3,850,000	3,361,000
Other Financing Activities	(48,493)	(27,839)
Net Cash Flows Provided by Financing Activities	1,935,170	1,406,638
Net (Decrease)/Increase in Cash and Restricted Cash	(33,785)	(343,760)
Cash and Restricted Cash - Beginning of Period	166,418	521,752
Cash and Restricted Cash - End of Period	132,633	177,992
NSTAR Electric
Operating Activities:
Net Income	317,580	268,556
Adjustments to Reconcile Net Income to Net Cash Flows Provided by/(Used In) Operating Activities:
Depreciation	197,208	183,292
Deferred Income Taxes	54,640	66,926
Uncollectible Expense	12,007	7,759
Pension, SERP and PBOP Income, Net	(18,003)	(20,460)
Regulatory (Under)/Over Recoveries, Net	(157,521)	(126,487)
Amortization of Regulatory Assets/(Liabilities), Net	69,627	21,385
Cost of Removal Expenditures	(22,832)	(33,750)
Other	(27,840)	(12,211)
Changes in Current Assets and Liabilities:
Receivables and Unbilled Revenues, Net	(41,197)	(9,745)
Taxes Receivable/Accrued, Net	(5,328)	28,662
Accounts Payable	(77,371)	(68,720)
Other Current Assets and Liabilities, Net	40,403	(71,745)
Net Cash Flows Provided by/(Used In) Operating Activities	341,373	233,462
Investing Activities:
Investments in Property, Plant and Equipment	(729,758)	(677,596)
Other Investing Activities	0	48
Net Cash Flows Used in Investing Activities	(729,758)	(677,548)
Financing Activities:
Cash Dividends on Common Stock	(393,900)	(327,400)
Cash Dividends on Preferred Stock	(980)	(980)
Issuance of Long-Term Debt	600,000	0
Capital Contributions from Eversource Parent	300,000	112,300
(Decrease)/Increase in Notes Payable	(129,347)	324,000
Other Financing Activities	(6,081)	8
Net Cash Flows Provided by Financing Activities	369,692	107,928
Net (Decrease)/Increase in Cash and Restricted Cash	(18,693)	(336,158)
Cash and Restricted Cash - Beginning of Period	22,785	345,293
Cash and Restricted Cash - End of Period	$ 4,092	$ 9,135

XML

PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current Assets:
Cash	$ 33,381	$ 53,873
Receivables, Net (net of allowance for uncollectible accounts)	1,473,255	1,431,531
Unbilled Revenues	196,710	225,325
Materials, Supplies and REC Inventory	532,415	507,307
Regulatory Assets	2,071,652	1,674,196
Prepayments	365,209	355,762
Total Current Assets	4,672,622	4,247,994
Property, Plant and Equipment, Net	41,126,153	39,498,607
Deferred Debits and Other Assets:
Regulatory Assets	4,995,989	4,714,970
Prepaid Pension and PBOP	1,101,017	1,028,207
Other Long-Term Assets	643,771	592,080
Total Deferred Debits and Other Assets	12,553,679	11,865,644
Total Assets	58,352,454	55,612,245
Current Liabilities:
Rate Reduction Bonds – Current Portion	43,210	43,210
Accounts Payable	1,759,283	1,869,187
Regulatory Liabilities	652,291	591,750
Other Current Liabilities	740,700	821,404
Total Current Liabilities	6,253,149	6,341,397
Deferred Credits and Other Liabilities:
Accumulated Deferred Income Taxes	5,249,786	5,303,730
Regulatory Liabilities	4,092,811	4,022,923
Other Long-Term Liabilities	966,558	1,029,238
Total Deferred Credits and Other Liabilities	10,943,269	10,985,489
Long-Term Debt	25,836,078	23,588,616
Rate Reduction Bonds	345,677	367,282
Common Shareholders' Equity:
Capital Surplus, Paid In	8,710,844	8,460,876
Retained Earnings	4,496,830	4,142,515
Common Shareholders' Equity	14,818,713	14,173,892
Commitments and Contingencies
Total Liabilities and Capitalization	58,352,454	55,612,245
PSNH
Current Assets:
Cash	252	240
Unbilled Revenues	49,398	55,012
Taxes Receivable	38,220	27,146
Materials, Supplies and REC Inventory	81,032	77,066
Regulatory Assets	175,003	189,450
Special Deposits	30,651	31,586
Prepayments	23,456	18,489
Total Current Assets	568,480	569,479
Property, Plant and Equipment, Net	4,833,400	4,574,652
Deferred Debits and Other Assets:
Regulatory Assets	922,613	773,783
Prepaid Pension and PBOP	64,530	58,979
Other Long-Term Assets	19,383	16,558
Total Deferred Debits and Other Assets	1,006,526	849,320
Total Assets	6,408,406	5,993,451
Current Liabilities:
Notes Payable to Eversource Parent	132,000	233,000
Rate Reduction Bonds – Current Portion	43,210	43,210
Regulatory Liabilities	79,112	117,515
Other Current Liabilities	73,148	72,328
Total Current Liabilities	649,822	713,069
Deferred Credits and Other Liabilities:
Accumulated Deferred Income Taxes	758,015	691,532
Regulatory Liabilities	392,184	393,574
Other Long-Term Liabilities	39,528	42,484
Total Deferred Credits and Other Liabilities	1,189,727	1,127,590
Long-Term Debt	1,731,461	1,431,591
Rate Reduction Bonds	345,677	367,282
Common Shareholders' Equity:
Common Stock	0	0
Capital Surplus, Paid In	1,798,134	1,698,134
Retained Earnings	693,585	655,785
Common Shareholders' Equity	2,491,719	2,353,919
Commitments and Contingencies
Total Liabilities and Capitalization	6,408,406	5,993,451
PSNH | Nonrelated Party
Current Assets:
Receivables, Net (net of allowance for uncollectible accounts)	155,242	152,276
Current Liabilities:
Accounts Payable	288,517	205,744
PSNH | Related Party
Current Assets:
Receivables, Net (net of allowance for uncollectible accounts)	15,226	18,214
Current Liabilities:
Notes Payable to Eversource Parent	132,000	233,000
Accounts Payable	$ 33,835	$ 41,272

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PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Allowance for uncollectible accounts	$ 579,582	$ 554,455
PSNH
Allowance for uncollectible accounts	$ 14,135	$ 14,322

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PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Operating Revenues	$ 2,533,522	$ 2,629,342	$ 5,866,097	$ 6,424,985
Operating Expenses:
Purchased Power and Transmission	841,431	1,161,067	2,077,387	3,064,313
Operations and Maintenance	464,424	427,290	927,388	881,852
Depreciation	354,591	319,995	694,505	632,949
Energy Efficiency Programs	145,288	145,823	358,767	368,774
Taxes Other Than Income Taxes	239,427	232,927	476,042	461,344
Total Operating Expenses	1,931,024	2,068,680	4,417,627	5,114,751
Operating Income	602,498	560,662	1,448,470	1,310,234
Interest Expense	271,316	207,313	522,064	401,858
Other Income, Net	115,285	94,875	206,315	183,857
Income Before Income Tax Expense	446,467	47,224	1,132,721	691,233
Income Tax Expense	109,246	29,922	271,772	180,893
PSNH
Operating Revenues	287,311	350,070	613,427	770,225
Operating Expenses:
Purchased Power and Transmission	36,995	144,829	124,933	371,514
Operations and Maintenance	69,643	64,503	138,355	132,298
Depreciation	38,127	34,702	75,536	68,790
Amortization of Regulatory Liabilities, Net	28,729	(19,954)	49,993	(25,271)
Energy Efficiency Programs	9,695	9,149	20,871	19,376
Taxes Other Than Income Taxes	24,465	25,531	47,780	47,636
Total Operating Expenses	207,654	258,760	457,468	614,343
Operating Income	79,657	91,310	155,959	155,882
Interest Expense	20,259	19,106	39,453	36,649
Other Income, Net	7,772	6,301	14,822	12,019
Income Before Income Tax Expense	67,170	78,505	131,328	131,252
Income Tax Expense	15,726	18,143	31,528	30,594
Net Income	$ 51,444	$ 60,362	$ 99,800	$ 100,658

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PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Other Comprehensive (Loss)/Income, Net of Tax:
Comprehensive Income Attributable to Common Shareholders	$ 334,294	$ 19,510	$ 861,346	$ 513,899
PSNH
Net Income	51,444	60,362	99,800	100,658
Other Comprehensive (Loss)/Income, Net of Tax:
Changes in Unrealized Gains on Marketable Securities	0	0	0	73
Other Comprehensive (Loss)/Income, Net of Tax	0	0	0	73
Comprehensive Income Attributable to Common Shareholders	$ 51,444	$ 60,362	$ 99,800	$ 100,731

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PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF COMMON STOCKHOLDER'S EQUITY - USD ($) $ in Thousands	Total	Common Stock	Capital Surplus, Paid In	Retained Earnings	Accumulated Other Comprehensive Loss	PSNH	PSNH Common Stock	PSNH Capital Surplus, Paid In	PSNH Retained Earnings	PSNH Accumulated Other Comprehensive Loss
Beginning balance (in shares) at Dec. 31, 2022		348,443,855					301
Beginning balance at Dec. 31, 2022	$ 15,473,158	$ 1,799,920	$ 8,401,731	$ 5,527,153	$ (39,421)	$ 1,870,187	$ 0	$ 1,298,134	$ 572,126	$ (73)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income						40,296			40,296
Dividends on Common Stock	(235,354)			(235,354)		(28,000)			(28,000)
Other Comprehensive Income (Loss)						73				73
Ending balance (in shares) at Mar. 31, 2023		348,808,082					301
Ending balance at Mar. 31, 2023	15,749,371	$ 1,799,920	8,412,085	5,782,958	(36,191)	1,882,556	$ 0	1,298,134	584,422	0
Beginning balance (in shares) at Dec. 31, 2022		348,443,855					301
Beginning balance at Dec. 31, 2022	15,473,158	$ 1,799,920	8,401,731	5,527,153	(39,421)	1,870,187	$ 0	1,298,134	572,126	(73)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income						100,658
Other Comprehensive Income (Loss)						73
Ending balance (in shares) at Jun. 30, 2023		349,021,936					301
Ending balance at Jun. 30, 2023	15,554,098	$ 1,799,920	8,428,786	5,562,889	(32,103)	2,014,918	$ 0	1,398,134	616,784	0
Beginning balance (in shares) at Mar. 31, 2023		348,808,082					301
Beginning balance at Mar. 31, 2023	15,749,371	$ 1,799,920	8,412,085	5,782,958	(36,191)	1,882,556	$ 0	1,298,134	584,422	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income						60,362			60,362
Dividends on Common Stock	(235,491)			(235,491)		(28,000)			(28,000)
Capital Contributions from Eversource Parent						100,000		100,000
Other Comprehensive Income (Loss)						0
Ending balance (in shares) at Jun. 30, 2023		349,021,936					301
Ending balance at Jun. 30, 2023	$ 15,554,098	$ 1,799,920	8,428,786	5,562,889	(32,103)	2,014,918	$ 0	1,398,134	616,784	0
Beginning balance (in shares) at Dec. 31, 2023	349,540,266	349,540,266					301
Beginning balance at Dec. 31, 2023	$ 14,173,892	$ 1,799,920	8,460,876	4,142,515	(33,737)	2,353,919	$ 0	1,698,134	655,785	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income						48,356			48,356
Dividends on Common Stock	(250,770)			(250,770)
Capital Contributions from Eversource Parent						100,000		100,000
Ending balance (in shares) at Mar. 31, 2024		351,379,414					301
Ending balance at Mar. 31, 2024	$ 14,543,588	$ 1,806,385	8,537,591	4,413,593	(28,534)	2,502,275	$ 0	1,798,134	704,141	0
Beginning balance (in shares) at Dec. 31, 2023	349,540,266	349,540,266					301
Beginning balance at Dec. 31, 2023	$ 14,173,892	$ 1,799,920	8,460,876	4,142,515	(33,737)	2,353,919	$ 0	1,698,134	655,785	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income						99,800
Other Comprehensive Income (Loss)						0
Ending balance (in shares) at Jun. 30, 2024	354,566,071	354,566,071					301
Ending balance at Jun. 30, 2024	$ 14,818,713	$ 1,820,954	8,710,844	4,496,830	(29,581)	2,491,719	$ 0	1,798,134	693,585	0
Beginning balance (in shares) at Mar. 31, 2024		351,379,414					301
Beginning balance at Mar. 31, 2024	14,543,588	$ 1,806,385	8,537,591	4,413,593	(28,534)	2,502,275	$ 0	1,798,134	704,141	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income						51,444			51,444
Dividends on Common Stock	$ (252,104)			(252,104)		(62,000)			(62,000)
Other Comprehensive Income (Loss)						0
Ending balance (in shares) at Jun. 30, 2024	354,566,071	354,566,071					301
Ending balance at Jun. 30, 2024	$ 14,818,713	$ 1,820,954	$ 8,710,844	$ 4,496,830	$ (29,581)	$ 2,491,719	$ 0	$ 1,798,134	$ 693,585	$ 0

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PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Adjustments to Reconcile Net Income to Net Cash Flows Provided by/(Used In) Operating Activities:
Depreciation	$ 694,505	$ 632,949
Deferred Income Taxes	297,901	155,035
Uncollectible Expense	26,279	24,171
Pension, SERP and PBOP Income, Net	(35,719)	(46,600)
Regulatory (Under)/Over Recoveries, Net	(383,152)	(112,050)
Cost of Removal Expenditures	(113,024)	(183,552)
Other	(99,544)	(13,423)
Changes in Current Assets and Liabilities:
Receivables and Unbilled Revenues, Net	(95,839)	137,819
Taxes Receivable/Accrued, Net	41,275	49,201
Accounts Payable	(82,355)	(489,132)
Other Current Assets and Liabilities, Net	(30,288)	(121,600)
Net Cash Flows Provided by/(Used In) Operating Activities	962,026	647,277
Investing Activities:
Investments in Property, Plant and Equipment	(2,220,917)	(2,039,512)
Other Investing Activities	11,355	11,055
Net Cash Flows Used in Investing Activities	(2,930,981)	(2,397,675)
Financing Activities:
Cash Dividends on Common Shares	(490,910)	(458,959)
Issuance of Long-Term Debt	3,850,000	3,361,000
Repayment of Rate Reduction Bonds	(21,605)	(21,605)
(Decrease)/Increase in Notes Payable to Eversource Parent	(698,252)	(589,200)
Other Financing Activities	(48,493)	(27,839)
Net Cash Flows Provided by Financing Activities	1,935,170	1,406,638
Net (Decrease)/Increase in Cash and Restricted Cash	(33,785)	(343,760)
Cash and Restricted Cash - Beginning of Period	166,418	521,752
Cash and Restricted Cash - End of Period	132,633	177,992
PSNH
Operating Activities:
Net Income	99,800	100,658
Adjustments to Reconcile Net Income to Net Cash Flows Provided by/(Used In) Operating Activities:
Depreciation	75,536	68,790
Deferred Income Taxes	64,545	89,761
Uncollectible Expense	2,178	(451)
Pension, SERP and PBOP Income, Net	(4,469)	(5,197)
Regulatory (Under)/Over Recoveries, Net	(167,077)	(244,668)
Amortization of Regulatory Assets/(Liabilities), Net	49,993	(25,271)
Cost of Removal Expenditures	(20,358)	(15,678)
Other	(2,691)	3,896
Changes in Current Assets and Liabilities:
Receivables and Unbilled Revenues, Net	1,916	12,223
Taxes Receivable/Accrued, Net	(11,045)	4,357
Accounts Payable	(3,697)	(45,255)
Other Current Assets and Liabilities, Net	(8,142)	(35,773)
Net Cash Flows Provided by/(Used In) Operating Activities	76,489	(92,608)
Investing Activities:
Investments in Property, Plant and Equipment	(289,667)	(276,676)
Other Investing Activities	0	296
Net Cash Flows Used in Investing Activities	(289,667)	(276,380)
Financing Activities:
Cash Dividends on Common Shares	(62,000)	(56,000)
Capital Contributions from Eversource Parent	100,000	100,000
Issuance of Long-Term Debt	300,000	300,000
Repayment of Rate Reduction Bonds	(21,605)	(21,605)
(Decrease)/Increase in Notes Payable to Eversource Parent	(101,000)	53,000
Other Financing Activities	(3,140)	(5,460)
Net Cash Flows Provided by Financing Activities	212,255	369,935
Net (Decrease)/Increase in Cash and Restricted Cash	(923)	947
Cash and Restricted Cash - Beginning of Period	35,004	36,812
Cash and Restricted Cash - End of Period	$ 34,081	$ 37,759

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

6 Months Ended

Jun. 30, 2024

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

A.    Basis of Presentation

Eversource Energy is a public utility holding company primarily engaged, through its wholly-owned regulated utility subsidiaries, in the energy delivery business.  Eversource Energy's wholly-owned regulated utility subsidiaries consist of CL&P, NSTAR Electric and PSNH (electric utilities), Yankee Gas, NSTAR Gas and EGMA (natural gas utilities), and Aquarion (water utilities). Eversource provides energy delivery and/or water service to approximately 4.4 million electric, natural gas and water customers through twelve regulated utilities in Connecticut, Massachusetts and New Hampshire.

The unaudited condensed consolidated financial statements of Eversource, NSTAR Electric and PSNH include the accounts of each of their respective subsidiaries.  Intercompany transactions have been eliminated in consolidation.  The accompanying unaudited condensed consolidated financial statements of Eversource, NSTAR Electric and PSNH and the unaudited condensed financial statements of CL&P are herein collectively referred to as the "financial statements."

The combined notes to the financial statements have been prepared pursuant to the rules and regulations of the SEC.  Certain information and footnote disclosures included in annual financial statements prepared in accordance with GAAP have been omitted pursuant to such rules and regulations.  The accompanying financial statements should be read in conjunction with the Combined Notes to Financial Statements included in Item 8, "Financial Statements and Supplementary Data," of the Eversource 2023 Form 10-K, which was filed with the SEC on February 14, 2024. The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.  Actual results could differ from those estimates.

The financial statements contain, in the opinion of management, all adjustments (including normal, recurring adjustments) necessary to present fairly Eversource's, CL&P's, NSTAR Electric's and PSNH's financial position as of June 30, 2024 and December 31, 2023, and the results of operations, comprehensive income and common shareholders' equity for the three and six months ended June 30, 2024 and 2023, and the cash flows for the six months ended June 30, 2024 and 2023. The results of operations and comprehensive income for the three and six months ended June 30, 2024 and 2023 and the cash flows for the six months ended June 30, 2024 and 2023 are not necessarily indicative of the results expected for a full year.

CYAPC and YAEC are inactive regional nuclear power companies engaged in the long-term storage of their spent nuclear fuel. Eversource consolidates the operations of CYAPC and YAEC because CL&P's, NSTAR Electric's and PSNH's combined ownership and voting interests in each of these entities is greater than 50 percent.  Intercompany transactions between CL&P, NSTAR Electric, PSNH and the CYAPC and YAEC companies have been eliminated in consolidation of the Eversource financial statements.

As of June 30, 2024, Eversource held several equity ownership interests that are not consolidated and are accounted for under the equity method, including 50 percent ownership interests in three offshore wind projects and a tax equity investment in one of the projects. See Note 1E, "Summary of Significant Accounting Policies – Investments in Unconsolidated Affiliates," for further information on Eversource’s equity method investments.

Eversource's utility subsidiaries' electric, natural gas and water distribution and transmission businesses are subject to rate-regulation that is based on cost recovery and meets the criteria for application of accounting guidance for entities with rate-regulated operations, which considers the effect of regulation on the differences in the timing of the recognition of certain revenues and expenses from those of other businesses and industries. See Note 2, "Regulatory Accounting," for further information.

Certain reclassifications of prior period data were made in the accompanying financial statements to conform to the current period presentation.

B.    Allowance for Uncollectible Accounts

Receivables, Net on the balance sheets primarily includes trade receivables from retail customers and customers related to wholesale transmission contracts, wholesale market sales, sales of RECs, and property rentals. Receivables, Net also includes customer receivables for the purchase of electricity from a competitive third party supplier, the current portion of customer energy efficiency loans, property damage receivables and other miscellaneous receivables. There is no material concentration of receivables.

Receivables are recorded at amortized cost, net of a credit loss provision (or allowance for uncollectible accounts). The current expected credit loss (CECL) model is applied to receivables for purposes of calculating the allowance for uncollectible accounts. This model is based on expected losses and results in the recognition of estimated expected credit losses, including uncollectible amounts for both billed and unbilled revenues, over the life of the receivable at the time a receivable is recorded.

The allowance for uncollectible accounts is determined based upon a variety of judgments and factors, including an aging-based quantitative assessment that applies an estimated uncollectible percentage to each receivable aging category.  Factors in determining credit loss include historical collection, write-off experience, analysis of delinquency statistics, and management's assessment of collectability from customers, including current economic conditions, customer payment trends, the impact on customer bills because of energy usage trends and changes in rates, flexible payment plans and financial hardship arrearage management programs offered to customers, reasonable forecasts, and expectations of future collectability and collection efforts. Management continuously assesses the collectability of receivables and adjusts estimates based on actual experience and future expectations based on economic conditions, collection efforts and other factors.  Management also monitors the aging analysis of receivables to determine if there are changes in the collections of accounts receivable. Receivable balances are written off against the allowance for uncollectible accounts when the customer accounts are no longer in service and these balances are deemed to be uncollectible. Management concluded that the reserve balance as of June 30, 2024 adequately reflected the collection risk and net realizable value for its receivables.

The PURA allows CL&P and Yankee Gas to accelerate the recovery of accounts receivable balances attributable to qualified customers under financial or medical duress (uncollectible hardship accounts receivable) outstanding for greater than 180 days and 90 days, respectively.  The DPU allows NSTAR Electric, NSTAR Gas and EGMA to recover in rates amounts associated with certain uncollectible hardship accounts receivable. These uncollectible hardship customer account balances are included in Regulatory Assets or Other Long-Term Assets on the balance sheets. Hardship customers are protected from shut-off in certain circumstances, and historical collection experience has reflected a higher default risk as compared to the rest of the receivable population. Management uses a higher credit risk profile for this pool of trade receivables as compared to non-hardship receivables. The allowance for uncollectible hardship accounts is included in the total uncollectible allowance balance.

The total allowance for uncollectible accounts is included in Receivables, Net on the balance sheets. The activity in the allowance for uncollectible accounts by portfolio segment as of June 30th is as follows:

	Eversource						CL&P						NSTAR Electric						PSNH
(Millions of Dollars)	Hardship Accounts		Retail (Non-Hardship), Wholesale, and Other		Total Allowance		Hardship Accounts		Retail (Non-Hardship), Wholesale, and Other		Total Allowance		Hardship Accounts		Retail (Non-Hardship), Wholesale, and Other		Total Allowance		Total Allowance
Three Months Ended 2024
Beginning Balance	$	379.4	$	190.7	$	570.1	$	271.8	$	36.0	$	307.8	$	41.8	$	55.9	$	97.7	$	13.8
Uncollectible Expense	—		9.9		9.9		—		2.8		2.8		—		5.9		5.9		1.0
Uncollectible Costs Deferred (1)	26.0		10.0		36.0		15.3		2.6		17.9		4.3		4.7		9.0		1.1
Write-Offs	(16.5)		(23.3)		(39.8)		(12.9)		(8.3)		(21.2)		(0.2)		(7.1)		(7.3)		(2.0)
Recoveries Collected	0.2		3.2		3.4		0.2		1.1		1.3		—		0.9		0.9		0.2
Ending Balance	$	389.1	$	190.5	$	579.6	$	274.4	$	34.2	$	308.6	$	45.9	$	60.3	$	106.2	$	14.1
Six Months Ended 2024
Beginning Balance	$	366.8	$	187.7	$	554.5	$	259.7	$	36.3	$	296.0	$	43.6	$	53.4	$	97.0	$	14.3
Uncollectible Expense	—		26.3		26.3		—		6.3		6.3		—		12.0		12.0		2.2
Uncollectible Costs Deferred (1)	53.5		21.4		74.9		38.1		5.3		43.4		3.5		9.1		12.6		2.4
Write-Offs	(31.7)		(51.8)		(83.5)		(23.8)		(16.0)		(39.8)		(1.2)		(16.3)		(17.5)		(5.2)
Recoveries Collected	0.5		6.9		7.4		0.4		2.3		2.7		—		2.1		2.1		0.4
Ending Balance	$	389.1	$	190.5	$	579.6	$	274.4	$	34.2	$	308.6	$	45.9	$	60.3	$	106.2	$	14.1

	Eversource						CL&P						NSTAR Electric						PSNH
(Millions of Dollars)	Hardship Accounts		Retail (Non-Hardship), Wholesale, and Other		Total Allowance		Hardship Accounts		Retail (Non-Hardship), Wholesale, and Other		Total Allowance		Hardship Accounts		Retail (Non-Hardship), Wholesale, and Other		Total Allowance		Total Allowance (2)
Three Months Ended 2023
Beginning Balance	$	318.7	$	216.4	$	535.1	$	216.2	$	37.2	$	253.4	$	42.0	$	52.6	$	94.6	$	33.5
Uncollectible Expense	—		1.4		1.4		—		0.9		0.9		—		3.1		3.1		(5.5)
Uncollectible Costs Deferred (1)	27.0		(5.5)		21.5		16.6		3.4		20.0		3.7		3.9		7.6		(13.5)
Write-Offs	(8.1)		(21.8)		(29.9)		(6.8)		(6.7)		(13.5)		(0.1)		(8.6)		(8.7)		(2.0)
Recoveries Collected	0.6		3.7		4.3		0.5		1.5		2.0		—		1.2		1.2		0.2
Ending Balance	$	338.2	$	194.2	$	532.4	$	226.5	$	36.3	$	262.8	$	45.6	$	52.2	$	97.8	$	12.7
Six Months Ended 2023
Beginning Balance	$	284.4	$	201.9	$	486.3	$	188.9	$	36.4	$	225.3	$	43.7	$	51.3	$	95.0	$	29.2
Uncollectible Expense	—		24.2		24.2		—		4.8		4.8		—		7.8		7.8		(0.5)
Uncollectible Costs Deferred (1)	70.8		8.7		79.5		50.9		6.1		57.0		2.4		9.3		11.7		(12.2)
Write-Offs	(17.8)		(48.0)		(65.8)		(14.1)		(13.7)		(27.8)		(0.5)		(18.9)		(19.4)		(4.2)
Recoveries Collected	0.8		7.4		8.2		0.8		2.7		3.5		—		2.7		2.7		0.4
Ending Balance	$	338.2	$	194.2	$	532.4	$	226.5	$	36.3	$	262.8	$	45.6	$	52.2	$	97.8	$	12.7

(1) These expected credit losses are deferred as regulatory costs on the balance sheets, as these amounts are ultimately recovered in rates. Amounts include uncollectible costs for hardship accounts and other customer receivables, including uncollectible amounts related to uncollectible energy supply costs and COVID-19. The increases in the allowance for uncollectible hardship accounts at Eversource and CL&P in both 2024 and 2023 primarily relate to increased customer enrollment in disconnection prevention programs in Connecticut.

(2) In connection with PSNH’s pole purchase agreement on May 1, 2023, the purchase price included the forgiveness of previously reserved receivables for reimbursement of operation and maintenance and vegetation management costs.

C.    Fair Value Measurements

Fair value measurement guidance is applied to derivative contracts that are not elected or designated as "normal purchases" or "normal sales" (normal) and to marketable securities held in trusts.  Fair value measurement guidance is also applied to valuations of the investments used to calculate the funded status of pension and PBOP plans, the nonrecurring fair value measurements of nonfinancial assets such as goodwill, long-lived assets, equity method investments, AROs, and in the valuation of business combinations and asset acquisitions. The fair value measurement guidance was also applied in estimating the fair value of preferred stock, long-term debt and RRBs.

Fair Value Hierarchy:  In measuring fair value, Eversource uses observable market data when available in order to minimize the use of unobservable inputs.  Inputs used in fair value measurements are categorized into three fair value hierarchy levels for disclosure purposes.  The entire fair value measurement is categorized based on the lowest level of input that is significant to the fair value measurement.  Eversource evaluates the classification of assets and liabilities measured at fair value on a quarterly basis. 

The levels of the fair value hierarchy are described below:

Level 1 - Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities as of the reporting date.  Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis.  

Level 2 - Inputs are quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-derived valuations in which all significant inputs are observable.

Level 3 - Quoted market prices are not available.  Fair value is derived from valuation techniques in which one or more significant inputs or assumptions are unobservable.  Where possible, valuation techniques incorporate observable market inputs that can be validated to external sources such as industry exchanges, including prices of energy and energy-related products.  

Uncategorized - Investments that are measured at net asset value are not categorized within the fair value hierarchy.

Determination of Fair Value:  The valuation techniques and inputs used in Eversource's fair value measurements are described in Note 4, "Derivative Instruments," Note 5, "Marketable Securities," and Note 10, "Fair Value of Financial Instruments," to the financial statements.

D.    Other Income, Net

The components of Other Income, Net on the statements of income were as follows:

	For the Three Months Ended
	June 30, 2024								June 30, 2023
(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric		PSNH
Pension, SERP and PBOP Non-Service   Income Components, Net of Deferred Portion	$	30.0	$	7.2	$	13.3	$	3.7	$	33.3	$	8.4	$	14.1	$	3.9
AFUDC Equity	23.7		5.5		15.2		1.7		19.0		4.6		12.0		1.1
Equity in Earnings of Unconsolidated Affiliates (1)	23.2		—		0.2		—		5.0		—		0.1		—
Investment Income/(Loss)	1.1		(0.1)		0.5		—		(1.4)		(1.1)		0.3		(0.3)
Interest Income	37.1		10.4		19.2		2.4		21.4		1.5		14.4		1.2
Other (2)	0.2		—		—		—		17.6		—		—		0.4
Total Other Income, Net	$	115.3	$	23.0	$	48.4	$	7.8	$	94.9	$	13.4	$	40.9	$	6.3
	For the Six Months Ended
	June 30, 2024								June 30, 2023
(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric		PSNH
Pension, SERP and PBOP Non-Service    Income Components, Net of Deferred Portion	$	57.8	$	13.7	$	25.6	$	7.3	$	68.1	$	17.9	$	28.8	$	8.1
AFUDC Equity	50.5		11.5		31.4		3.6		34.5		8.7		21.5		1.8
Equity in Earnings of Unconsolidated Affiliates (1)	31.0		—		0.4		—		8.8		—		0.2		—
Investment Income/(Loss)	0.3		(0.9)		0.9		(0.2)		(3.1)		(1.7)		(0.2)		(0.4)
Interest Income	67.1		15.1		37.2		4.1		44.5		3.4		30.4		2.1
Other (2)	(0.4)		—		—		—		31.1		—		0.1		0.4
Total Other Income, Net	$	206.3	$	39.4	$	95.5	$	14.8	$	183.9	$	28.3	$	80.8	$	12.0

(1)    Equity in Earnings of Unconsolidated Affiliates includes $23.4 million of pre-tax income recorded at Eversource in the second quarter of 2024 from Eversource’s wind equity method investment, North East Offshore, as a result of a vendor settlement agreement payment received by the joint venture. This settlement payment reduced the required capital contributions to be made by Eversource to North East Offshore during the second quarter of 2024.

(2)    Eversource’s equity method investment in a renewable energy fund was liquidated in March 2023. Liquidation proceeds in excess of the carrying value were recorded in both the first and second quarters of 2023 within Other in the tables above. See Note 1E, "Summary of Significant Accounting Policies - Investments in Unconsolidated Affiliates," for further information.

E.    Investments in Unconsolidated Affiliates

Investments in entities that are not consolidated are included in long-term assets on the balance sheets and earnings impacts from these equity investments are included in Other Income, Net on the statements of income.  Eversource's investments included the following:

				Investment Balance
(Millions of Dollars)	Ownership Interest			As of June 30, 2024		As of December 31, 2023
Offshore Wind Business	50%	-	100%	$	806.1	$	515.5
Natural Gas Pipeline - Algonquin Gas Transmission, LLC	15%			113.2		116.0
Other	various			29.7		29.0
Total Investments in Unconsolidated Affiliates				$	949.0	$	660.5

Offshore Wind Business: As of June 30, 2024, Eversource’s offshore wind business includes 50 percent ownership interests in each of North East Offshore and South Fork Class B Member, LLC, which collectively hold three offshore wind projects. North East Offshore holds the Revolution Wind project and the Sunrise Wind project. South Fork Class B Member, LLC holds the South Fork Wind project. The offshore wind projects are being developed and constructed through joint and equal partnerships with Ørsted. Eversource’s offshore wind business also includes a noncontrolling tax equity investment in South Fork Wind through a 100 percent ownership in South Fork Wind Holdings, LLC Class A shares.

On May 25, 2023, Eversource announced that it had completed a strategic review of its offshore wind investments and determined that it would pursue the sale of its offshore wind investments. On September 7, 2023, Eversource completed the sale of its 50 percent interest in an uncommitted lease area consisting of approximately 175,000 developable acres located 25 miles off the south coast of Massachusetts to Ørsted for $625 million in an all-cash transaction.

In September of 2023, Eversource made a contribution of $528 million using the proceeds from the lease area sale to invest in a tax equity interest for South Fork Wind. South Fork Wind was restructured as a tax equity investment, with Eversource purchasing 100 percent ownership of a new Class A tax equity membership interest. This investment will result in Eversource receiving cash flow benefits from investment tax credits (ITC) and other future cash flow benefits as well. As of June 30 2024, all twelve South Fork Wind turbines met the requirements to qualify for the investment tax credits. As a result, $385 million of expected investment tax credits were reclassified from the South Fork Wind tax equity

investment balance reported in Investments in Unconsolidated Affiliates as a reduction in current taxes payable of $54 million and an increase in deferred tax assets of $331 million on the Eversource balance sheet as of June 30, 2024.

As a result of these investment tax credits generated from our wind investments, Eversource expects lower federal income tax payments between 2024 through 2026.

Sales of Offshore Wind Investments: On January 24, 2024, Ørsted signed an agreement with Eversource to acquire Eversource’s 50 percent share of Sunrise Wind, subject to the successful selection of Sunrise Wind in the New York fourth solicitation for offshore wind capacity, signing of an OREC contract with NYSERDA, finalization of agreements including the equity and asset purchase agreement, receipt of the final approval by BOEM of the Sunrise Wind Construction and Operations Plan (COP), and relevant regulatory approvals. On February 29, 2024, Sunrise Wind was selected for contract negotiation in the offshore wind solicitation by NYSERDA, and was subsequently awarded a contract, which was finalized and completed on May 31, 2024. In June 2024, Sunrise Wind received final approval by BOEM of its COP and all remaining regulatory approvals.

On April 18, 2024, Eversource and Ørsted executed the equity and asset purchase agreement to sell Eversource’s 50 percent interest in Sunrise Wind to Ørsted for a gross purchase price of $230 million. The purchase price was subject to reduction for actual capital spending less than forecasted spending between signing the agreement in January and closing of the transaction. On July 9, 2024, Eversource completed the sale of its 50 percent ownership share of Sunrise Wind to Ørsted. In accordance with the equity and asset purchase agreement and after adjustment for the reduction in capital spending compared to forecasted, Ørsted paid Eversource $118 million at the closing of the sale transaction, and the remaining proceeds of $34 million will be paid after onshore construction is completed and certain other construction milestones are achieved.

With the completion of the sale, Eversource has divested all of its ownership interest in Sunrise Wind and will not have any ongoing ownership interest in the project, nor any ongoing financial obligations associated with project costs. Eversource’s existing credit support obligations were either terminated or indemnified by Ørsted as a result of the sale. Eversource has entered into a separate amended and restated construction management agreement to manage Sunrise Wind’s onshore construction through completion. In this role, Eversource will solely be a service provider to Sunrise Wind.

On February 13, 2024, Eversource executed an agreement to sell its existing 50 percent interests in the South Fork Wind and Revolution Wind projects to Global Infrastructure Partners (GIP) for $1.1 billion of cash proceeds to be received upon closing, subject to adjustment. The purchase price is inclusive of the sales value related to a 40 percent level of federal investment tax credits, 10 percent of which is the energy community ITC adder of approximately $170 million related to Revolution Wind. The purchase price is subject to adjustments based on, among other things, the progress, timing and the construction cost of Revolution Wind, including changes in actual versus forecasted capital spending between signing the agreement and closing of the transaction. Factors that could result in Eversource’s total net proceeds from the transaction to be lower, resulting in post-closing adjustment payments owed to GIP, include the ultimate cost of construction and extent of cost overruns for Revolution Wind, delays in constructing Revolution Wind, which would impact the economics associated with the purchase price adjustment, and Revolution Wind’s eligibility for federal investment tax credits at less than the value included in the purchase price. Total net proceeds could also be adjusted for a benefit due to Eversource if there are lower operation costs or higher availability of the projects through the period that is four years following the commercial operation date of the Revolution Wind project.

The post-closing purchase price adjustment payments include cost sharing obligations that provide Eversource will share equally with GIP in GIP’s funding obligations for up to approximately $240 million of incremental capital expenditure overruns incurred during the construction phase for Revolution Wind, after which obligations for any additional capital expenditure overruns would be shared equally by Eversource and Ørsted. The purchase price is also subject to post-closing adjustments as a result of final project economics, which includes Eversource’s obligation to maintain GIP’s internal rate of return for each project as specified in the agreement. Post-closing purchase price adjustment payments will be made following the sale closing date for South Fork and following the commercial operation of Revolution Wind. South Fork Wind construction has been completed, and Eversource does not expect any material cost sharing or other purchase price adjustment payments for South Fork Wind.

Closing the transaction with GIP is subject to customary conditions, including certain regulatory approvals, as well as other conditions, among which is the completion and execution of the partnership agreements between GIP and Ørsted that will govern GIP’s new ownership interest in those projects following Eversource’s divestiture. All regulatory approvals have been received and the review period under the Hart Scott Rodino Act has expired. Closing of this transaction is currently expected to occur in the third quarter of 2024.

Under the agreement with GIP, Eversource’s existing credit support obligations are expected to roll off for each project around the time that each project completes its expected capital spend. Eversource will continue to make future cash expenditures for required cash contributions up to the time of disposition of the Revolution Wind and South Fork Wind projects and changes in the timing and amounts of these contributions would be adjusted in the purchase price.

Upon close of the sale transactions in the third quarter of 2024, the total proceeds will be compared to the current carrying value of the investments, and the difference will be reflected in the statement of income. At that time, Eversource will also record an estimate of future obligations under the terms of the GIP transaction, which primarily could include the potential cost overrun sharing obligation and potential obligation to maintain GIP’s internal rate of return for the Revolution Wind project. Eversource is currently evaluating the combined impact of the Sunrise Wind sale and the expected sale of Revolution Wind and South Fork Wind, and at this time, does not expect a material financial impact on our 2024 results. Proceeds from the transactions will be used to pay off parent company debt.

Impairment: Equity method investments are assessed for impairment when conditions exist as of the balance sheet date that indicate that the fair value of the investment may be less than book value. Eversource continually monitors and evaluates its equity method investments to determine if there are indicators of an other-than-temporary impairment. If the decline in value is considered to be other-than-temporary, the investment is written down to its estimated fair value, which establishes a new cost basis in the investment. Subsequent declines or recoveries after the reporting date are not considered in the impairment recognized. Investments that are other-than-temporarily impaired and written down to their estimated fair value cannot subsequently be written back up for increases in estimated fair value. Impairment evaluations involve a significant degree of judgment and estimation, including identifying circumstances that indicate an impairment may exist at the equity method investment level, selecting discount rates used to determine fair values, and developing an estimate of discounted future cash flows expected from investment operations or the sale of the investment. In the second quarter of 2024, there were no indicators of an other-than-temporary impairment in Eversource’s equity method investment balance.

In the second quarter of 2023, in connection with the process to divest its offshore wind business, Eversource identified indicators for impairment. In the impairment assessment, Eversource evaluated its investments and determined that the carrying value of the equity method offshore wind investments exceeded the fair value of the investments and that the decline in fair value was other-than-temporary. The completion of the strategic review in the second quarter of 2023 resulted in Eversource recording a pre-tax other-than-temporary impairment charge of $401 million ($331 million after-tax) to reflect the investment at estimated fair value based on the expected purchase price at that time. In the fourth quarter of 2023, Eversource recognized an additional pre-tax other-than-temporary impairment charge of $1.77 billion ($1.62 billion after-tax) in its offshore wind investments and established a new cost basis in the investments as of December 31, 2023. The impairment charges were non-cash charges and did not impact Eversource’s cash position.

2023 Liquidation of Renewable Energy Investment Fund: On March 21, 2023, Eversource’s equity method investment in a renewable energy investment fund was liquidated by the fund’s general partner in accordance with the partnership agreement. Proceeds received from the liquidation of $147.0 million were included in Investments in Unconsolidated Affiliates within investing activities on the statement of cash flows for the six months ended June 30, 2023. Of this amount, $123.4 million was received in the first quarter of 2023, and $23.6 million was received from escrow in the second quarter of 2023. A portion of the proceeds was used to make a charitable contribution to the Eversource Energy Foundation (a related party) of $20.0 million in the first quarter of 2023. The liquidation benefit received in excess of the investment’s carrying value and the charitable contribution are included in Other Income, Net on the statement of income.

F.    Other Taxes

Eversource's companies that serve customers in Connecticut collect gross receipts taxes levied by the state of Connecticut from their customers. These gross receipts taxes are recorded separately with collections in Operating Revenues and with payments in Taxes Other Than Income Taxes on the statements of income as follows:

	For the Three Months Ended				For the Six Months Ended
(Millions of Dollars)	June 30, 2024		June 30, 2023		June 30, 2024		June 30, 2023
Eversource	$	44.6	$	44.7	$	97.9	$	99.7
CL&P	39.7		38.9		83.6		82.0

As agents for state and local governments, Eversource's companies that serve customers in Connecticut and Massachusetts collect certain sales taxes that are recorded on a net basis with no impact on the statements of income. 

G.    Supplemental Cash Flow Information

Non-cash investing activities include plant additions included in Accounts Payable as follows:

(Millions of Dollars)	As of June 30, 2024		As of June 30, 2023
Eversource	$	477.9	$	457.5
CL&P	89.2		104.8
NSTAR Electric	142.2		113.4
PSNH	86.5		59.6

The following table reconciles cash as reported on the balance sheets to the cash and restricted cash balance as reported on the statements of cash flows:

	As of June 30, 2024								As of December 31, 2023
(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric		PSNH
Cash as reported on the Balance Sheets	$	33.4	$	—	$	2.7	$	0.3	$	53.9	$	10.2	$	6.7	$	0.2
Restricted cash included in:
Special Deposits	66.4		1.1		1.4		30.6		81.5		2.0		16.1		31.6
Marketable Securities	16.3		—		—		—		13.7		—		—		—
Other Long-Term Assets	16.5		—		—		3.2		17.3		—		—		3.2
Cash and Restricted Cash as reported on the Statements of Cash Flows	$	132.6	$	1.1	$	4.1	$	34.1	$	166.4	$	12.2	$	22.8	$	35.0

Special Deposits represent cash collections related to the PSNH RRB customer charges that are held in trust, required ISO-NE cash deposits, cash held in escrow accounts, and CYAPC and YAEC cash balances. Special Deposits are included in Current Assets on the balance sheets. Restricted cash included in Marketable Securities represents money market funds held in restricted trusts to fund CYAPC and YAEC's spent nuclear fuel storage obligations.

Eversource’s restricted cash includes an Energy Relief Fund for energy efficiency and clean energy measures in the Merrimack Valley established under the terms of the EGMA 2020 settlement agreement. This restricted cash held in escrow accounts included $20.0 million recorded as short-term in Special Deposits as of both June 30, 2024 and December 31, 2023, and $13.3 million and $14.1 million recorded in Other Long-Term Assets on the balance sheets as of June 30, 2024 and December 31, 2023, respectively.

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REGULATORY ACCOUNTING

6 Months Ended

Jun. 30, 2024

Regulated Operations [Abstract]

REGULATORY ACCOUNTING

REGULATORY ACCOUNTING

Eversource's utility companies are subject to rate regulation that is based on cost recovery and meets the criteria for application of accounting guidance for rate-regulated operations, which considers the effect of regulation on the timing of the recognition of certain revenues and expenses. The regulated companies' financial statements reflect the effects of the rate-making process.  The rates charged to the customers of Eversource's regulated companies are designed to collect each company's costs to provide service, plus a return on investment.

The application of accounting guidance for rate-regulated enterprises results in recording regulatory assets and liabilities. Regulatory assets represent the deferral of incurred costs that are probable of future recovery in customer rates. Regulatory assets are amortized as the incurred costs are recovered through customer rates. Regulatory liabilities represent either revenues received from customers to fund expected costs that have not yet been incurred or probable future refunds to customers.

Management believes it is probable that each of the regulated companies will recover its respective investments in long-lived assets and the regulatory assets that have been recorded.  If management were to determine that it could no longer apply the accounting guidance applicable to rate-regulated enterprises, or if management could not conclude it is probable that costs would be recovered from customers in future rates, the applicable costs would be charged to net income in the period in which the determination is made.

Regulatory Assets:  The components of regulatory assets were as follows:

	As of June 30, 2024								As of December 31, 2023
(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric		PSNH
Storm Costs, Net	$	2,074.8	$	976.8	$	652.1	$	445.9	$	1,785.9	$	896.6	$	609.1	$	280.2
Regulatory Tracking Mechanisms	1,722.0		743.7		549.6		174.3		1,319.2		354.5		482.9		182.2
Benefit Costs	1,116.5		201.6		320.3		81.0		1,117.3		197.4		336.7		79.3
Income Taxes, Net	936.1		522.4		138.2		14.8		912.4		512.6		128.6		16.4
Securitized Stranded Costs	370.9		—		—		370.9		392.5		—		—		392.5
Goodwill-related	255.7		—		219.5		—		264.1		—		226.7		—
Asset Retirement Obligations	144.0		39.8		75.3		4.9		137.9		38.5		72.3		4.7
Derivative Liabilities	87.4		87.4		—		—		120.9		120.9		—		—
Other Regulatory Assets	360.3		21.0		107.9		5.8		339.0		22.7		101.6		8.0
Total Regulatory Assets	7,067.7		2,592.7		2,062.9		1,097.6		6,389.2		2,143.2		1,957.9		963.3
Less:  Current Portion	2,071.7		860.8		757.4		175.0		1,674.2		480.4		676.1		189.5
Total Long-Term Regulatory Assets	$	4,996.0	$	1,731.9	$	1,305.5	$	922.6	$	4,715.0	$	1,662.8	$	1,281.8	$	773.8

Regulatory Costs in Other Long-Term Assets:  Eversource's regulated companies had $267.0 million (including $180.4 million for CL&P, $27.8 million for NSTAR Electric and $2.1 million for PSNH) and $241.7 million (including $166.7 million for CL&P, $21.9 million for NSTAR Electric and $1.2 million for PSNH) of additional regulatory costs not yet specifically approved as of June 30, 2024 and December 31, 2023, respectively, that were included in Other Long-Term Assets on the balance sheets.  These amounts will be reclassified to Regulatory Assets upon approval by the applicable regulatory agency. Based on regulatory policies or past precedent on similar costs, management believes it is probable that these costs will ultimately be approved and recovered from customers in rates. As of June 30, 2024 and December 31, 2023, these regulatory costs included $87.5 million (including $64.7 million for CL&P and $10.9 million for NSTAR Electric) and $82.1 million (including $64.0 million for CL&P and $7.3 million for NSTAR Electric), respectively, of deferred uncollectible hardship costs.

Regulatory Liabilities:  The components of regulatory liabilities were as follows:

	As of June 30, 2024								As of December 31, 2023
(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric		PSNH
EDIT due to Tax Cuts and Jobs Act of 2017	$	2,526.7	$	963.9	$	894.0	$	335.7	$	2,548.6	$	969.2	$	905.1	$	339.3
Regulatory Tracking Mechanisms	722.7		183.2		393.3		72.6		668.3		154.0		347.2		114.4
Cost of Removal	717.4		182.1		442.2		18.4		666.6		157.9		420.9		16.2
Deferred Portion of Non-Service Income    Components of Pension, SERP and PBOP	391.5		56.0		194.0		39.7		354.0		49.9		175.9		36.6
AFUDC - Transmission	142.4		61.0		81.4		—		124.3		56.1		68.2		—
Benefit Costs	40.4		0.5		14.7		—		51.0		0.6		22.2		—
Other Regulatory Liabilities	204.0		38.5		13.5		4.9		201.9		30.4		13.9		4.6
Total Regulatory Liabilities	4,745.1		1,485.2		2,033.1		471.3		4,614.7		1,418.1		1,953.4		511.1
Less:  Current Portion	652.3		133.3		413.5		79.1		591.8		102.2		368.1		117.5
Total Long-Term Regulatory Liabilities	$	4,092.8	$	1,351.9	$	1,619.6	$	392.2	$	4,022.9	$	1,315.9	$	1,585.3	$	393.6

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PROPERTY, PLANT AND EQUIPMENT AND ACCUMULATED DEPRECIATION

6 Months Ended

Jun. 30, 2024

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT AND ACCUMULATED DEPRECIATION

PROPERTY, PLANT AND EQUIPMENT AND ACCUMULATED DEPRECIATION

The following tables summarize property, plant and equipment by asset category:

Eversource	As of June 30, 2024		As of December 31, 2023
(Millions of Dollars)
Distribution - Electric	$	20,467.3	$	19,656.5
Distribution - Natural Gas	8,358.9		8,155.3
Transmission - Electric	15,589.6		14,666.8
Distribution - Water	2,313.5		2,280.1
Solar	201.1		201.1
Utility	46,930.4		44,959.8
Other (1)	2,193.6		2,006.8
Property, Plant and Equipment, Gross	49,124.0		46,966.6
Less:  Accumulated Depreciation
Utility	(10,110.4)		(9,670.1)
Other	(964.4)		(869.6)
Total Accumulated Depreciation	(11,074.8)		(10,539.7)
Property, Plant and Equipment, Net	38,049.2		36,426.9
Construction Work in Progress	3,077.0		3,071.7
Total Property, Plant and Equipment, Net	$	41,126.2	$	39,498.6

	As of June 30, 2024						As of December 31, 2023
(Millions of Dollars)	CL&P		NSTAR Electric		PSNH		CL&P		NSTAR Electric		PSNH
Distribution - Electric	$	8,270.0	$	9,378.4	$	2,859.1	$	7,897.1	$	9,000.5	$	2,799.2
Transmission - Electric	6,790.7		6,146.5		2,654.1		6,548.2		5,630.8		2,489.5
Solar	—		201.1		—		—		201.1		—
Property, Plant and Equipment, Gross	15,060.7		15,726.0		5,513.2		14,445.3		14,832.4		5,288.7
Less:  Accumulated Depreciation	(2,884.4)		(3,706.6)		(1,016.5)		(2,670.5)		(3,585.9)		(984.0)
Property, Plant and Equipment, Net	12,176.3		12,019.4		4,496.7		11,774.8		11,246.5		4,304.7
Construction Work in Progress	512.3		1,303.5		336.7		565.4		1,507.3		270.0
Total Property, Plant and Equipment, Net	$	12,688.6	$	13,322.9	$	4,833.4	$	12,340.2	$	12,753.8	$	4,574.7

(1)    These assets are primarily comprised of computer software, hardware and equipment at Eversource Service and buildings at The Rocky River Realty Company.

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DERIVATIVE INSTRUMENTS

6 Months Ended

Jun. 30, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

DERIVATIVE INSTRUMENTS

DERIVATIVE INSTRUMENTS

The electric and natural gas companies purchase and procure energy and energy-related products, which are subject to price volatility, for their customers.  The costs associated with supplying energy to customers are recoverable from customers in future rates.  These regulated companies manage the risks associated with the price volatility of energy and energy-related products through the use of derivative and non-derivative contracts.  Many of the derivative contracts meet the definition of, and are designated as, normal and qualify for accrual accounting under the applicable accounting guidance.  The costs and benefits of derivative contracts that meet the definition of normal are recognized in Operating Expenses on the statements of income as electricity or natural gas is delivered.

Derivative contracts that are not designated as normal are recorded at fair value as derivative assets or liabilities on the balance sheets.  For the electric and natural gas companies, regulatory assets or regulatory liabilities are recorded to offset the fair values of derivatives, as contract settlement amounts are recovered from, or refunded to, customers in their respective energy supply rates.  

The gross fair values of derivative assets and liabilities with the same counterparty are offset and reported as net Derivative Assets or Derivative Liabilities, with current and long-term portions, on the balance sheets.  The following table presents the gross fair values of contracts, categorized by risk type, and the net amounts recorded as current or long-term derivative assets or liabilities:

		As of June 30, 2024						As of December 31, 2023
CL&P (Millions of Dollars)	Fair Value Hierarchy	Commodity Supply and Price Risk Management		Netting (1)		Net Amount Recorded as a Derivative		Commodity Supply and Price Risk Management		Netting (1)		Net Amount Recorded as a Derivative
Current Derivative Assets	Level 2	$	15.5	$	(0.4)	$	15.1	$	16.4	$	(0.5)	$	15.9
Long-Term Derivative Assets	Level 2	6.2		(0.2)		6.0		13.6		(0.5)		13.1
Current Derivative Liabilities	Level 2	(77.4)		—		(77.4)		(81.9)		—		(81.9)
Long-Term Derivative Liabilities	Level 2	(31.1)		—		(31.1)		(68.0)		—		(68.0)

    

(1)    Amounts represent derivative assets and liabilities that Eversource elected to record net on the balance sheets.  These amounts are subject to master netting agreements or similar agreements for which the right of offset exists.

Derivative Contracts at Fair Value with Offsetting Regulatory Amounts

Commodity Supply and Price Risk Management:  As required by regulation, CL&P, along with UI, has capacity-related contracts with generation facilities.  CL&P has a sharing agreement with UI, with 80 percent of the costs or benefits of each contract borne by or allocated to CL&P and 20 percent borne by or allocated to UI.  The combined capacities of these contracts as of June 30, 2024 and December 31, 2023 were 615 MW and 682 MW, respectively. The capacity contracts extend through 2026 and obligate both CL&P and UI to make or receive payments on a monthly basis to or from the generation facilities based on the difference between a set capacity price and the capacity market price received in the ISO-NE capacity markets. 

For the three months ended June 30, 2024 and 2023, there were losses of $1.9 million and gains of $1.8 million, respectively. For the six months ended June 30, 2024 and 2023, there were losses of $2.9 million and $0.1 million, respectively. These changes in fair value associated with CL&P’s derivative contracts are deferred in Regulatory Assets on the balance sheet.

Fair Value Measurements of Derivative Instruments

The fair value of derivative contracts utilizes both observable and unobservable inputs.  The fair value is modeled using income techniques, such as discounted cash flow valuations adjusted for assumptions related to exit price.  Valuations of derivative contracts using a discounted cash flow methodology include assumptions regarding the timing and likelihood of scheduled capacity payments and also reflect non-performance risk, including credit, using the default probability approach based on the counterparty's credit rating for assets and the Company's credit rating for liabilities.  Significant observable inputs for valuations of these contracts include energy-related product prices in future years for which quoted prices in an active market exist. Valuations incorporate estimates of premiums or discounts that would be required by a market participant to arrive at an exit price, using historical market transactions adjusted for the terms of the contract.  Fair value measurements were prepared by individuals with expertise in valuation techniques, pricing of energy-related products, and accounting requirements. All derivative contracts were classified as Level 2 in the fair value hierarchy as of both June 30, 2024 and December 31, 2023.

The following table presents changes in the Level 3 category of derivative assets and derivative liabilities measured at fair value on a recurring basis.  The derivative assets and liabilities are presented on a net basis.

CL&P	For the Three Months Ended June 30, 2023		For the Six Months Ended June 30, 2023
(Millions of Dollars)
Derivatives, Net:
Fair Value as of Beginning of Period	$	(168.8)	$	(181.8)
Net Realized/Unrealized Gains/(Losses) Included in Regulatory Assets	1.8		(0.1)
Settlements	14.9		29.8
Fair Value as of End of Period	$	(152.1)	$	(152.1)

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MARKETABLE SECURITIES

6 Months Ended

Jun. 30, 2024

Investments, Debt and Equity Securities [Abstract]

MARKETABLE SECURITIES

MARKETABLE SECURITIES

Eversource’s marketable securities include the CYAPC and YAEC legally restricted trusts that each hold equity and available-for-sale debt securities to fund the spent nuclear fuel removal obligations of their nuclear fuel storage facilities. Eversource also holds trusts that are not subject to regulatory oversight by state or federal agencies that are primarily used to fund certain non-qualified executive benefits. The marketable securities within the non-qualified executive benefit trusts were sold in 2023. Equity and available-for-sale debt marketable securities are recorded at fair value, with the current portion recorded in Prepayments and Other Current Assets and the long-term portion recorded in Marketable Securities on the balance sheets. CYAPC and YAEC’s spent nuclear fuel trusts are restricted and are classified in long-term Marketable Securities on the balance sheets.

Equity Securities: Eversource's equity securities include CYAPC's and YAEC's marketable securities held in spent nuclear fuel trusts, which had fair values of $168.8 million and $173.6 million as of June 30, 2024 and December 31, 2023, respectively.  Unrealized gains and losses for these spent nuclear fuel trusts are subject to regulatory accounting treatment and are recorded in Marketable Securities with the corresponding offset to long-term liabilities on the balance sheets, with no impact on the statements of income.

Unrealized gains and losses on equity securities held in Eversource's trusts are recorded in Other Income, Net on the statements of income. The equity securities within Eversource’s non-qualified executive benefits trusts were sold during 2023. The fair value of equity securities held in Eversource’s trusts as of June 30, 2024 and December 31, 2023 were $3.8 million and $3.3 million, respectively. There were unrealized gains of $0.1 million and $0.5 million for the three and six months ended June 30, 2024 and unrealized losses of $4.7 million and $3.9 million for the three and six months ended June 30, 2023 recorded in Other Income, Net, respectively, related to these equity securities.

Available-for-Sale Debt Securities: The following is a summary of available-for-sale debt securities, which are held in CYAPC’s and YAEC’s spent nuclear fuel trusts:

	As of June 30, 2024								As of December 31, 2023
Eversource (Millions of Dollars)	Amortized Cost		Pre-Tax Unrealized Gains		Pre-Tax Unrealized Losses		Fair Value		Amortized Cost		Pre-Tax Unrealized Gains		Pre-Tax Unrealized Losses		Fair Value
Debt Securities	$	172.8	$	0.2	$	(10.0)	$	163.0	$	169.5	$	1.4	$	(6.6)	$	164.3

Unrealized gains and losses for available-for-sale debt securities included in the CYAPC and YAEC spent nuclear fuel trusts are subject to regulatory accounting treatment and are recorded in Marketable Securities with the corresponding offset to long-term liabilities on the balance sheets, with no impact on the statements of income.

The debt securities within Eversource’s non-qualified executive benefits trusts were sold during 2023. Any unrealized gains and losses on available-for-sale debt securities held in Eversource's trusts are recorded in Accumulated Other Comprehensive Income, excluding amounts related to credit losses or losses on securities intended to be sold, which are recorded in Other Income, Net. There were no credit losses for the three and six months ended June 30, 2024 and 2023, and no allowance for credit losses as of June 30, 2024. Factors considered in determining whether a credit loss exists include adverse conditions specifically affecting the issuer, the payment history, ratings and rating changes of the security, and the severity of the impairment.  For asset-backed debt securities, underlying collateral and expected future cash flows are also evaluated.

As of June 30, 2024, the contractual maturities of available-for-sale debt securities were as follows:

 

Eversource (Millions of Dollars)	Amortized Cost		Fair Value
Less than one year	$	17.8	$	17.7
One to five years	30.9		30.3
Six to ten years	43.9		42.5
Greater than ten years	80.2		72.5
Total Debt Securities	$	172.8	$	163.0

Realized Gains and Losses:  Realized gains and losses are offset in long-term liabilities for CYAPC and YAEC and are recorded in Other Income, Net for Eversource's benefit trusts.  Eversource utilizes the average cost basis method for the CYAPC and YAEC spent nuclear fuel trusts and the specific identification basis method for the Eversource non-qualified benefit trusts to compute the realized gains and losses on the sale of marketable securities.

Fair Value Measurements:  The following table presents the marketable securities recorded at fair value on a recurring basis by the level in which they are classified within the fair value hierarchy:

Eversource (Millions of Dollars)	As of June 30, 2024		As of December 31, 2023
Level 1:
Mutual Funds and Equities	$	172.6	$	176.9
Money Market Funds	16.3		13.7
Total Level 1	$	188.9	$	190.6
Level 2:
U.S. Government Issued Debt Securities (Agency and Treasury)	$	87.6	$	90.1
Corporate Debt Securities	33.5		34.0
Asset-Backed Debt Securities	8.3		5.6
Municipal Bonds	7.0		9.8
Other Fixed Income Securities	10.3		11.1
Total Level 2	$	146.7	$	150.6
Total Marketable Securities	$	335.6	$	341.2

U.S. government issued debt securities are valued using market approaches that incorporate transactions for the same or similar bonds and adjustments for yields and maturity dates.  Corporate debt securities are valued using a market approach, utilizing recent trades of the same or similar instruments and also incorporating yield curves, credit spreads and specific bond terms and conditions.  Asset-backed debt securities include collateralized mortgage obligations, commercial mortgage backed securities, and securities collateralized by auto loans, credit card loans or receivables.  Asset-backed debt securities are valued using recent trades of similar instruments, prepayment assumptions, yield curves, issuance and maturity dates, and tranche information.  Municipal bonds are valued using a market approach that incorporates reported trades and benchmark yields.  Other fixed income securities are valued using pricing models, quoted prices of securities with similar characteristics, and discounted cash flows.

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SHORT-TERM AND LONG-TERM DEBT

6 Months Ended

Jun. 30, 2024

Debt Disclosure [Abstract]

SHORT-TERM AND LONG-TERM DEBT

SHORT-TERM AND LONG-TERM DEBT

Short-Term Debt - Commercial Paper Programs and Credit Agreements: Eversource parent has a $2.00 billion commercial paper program allowing Eversource parent to issue commercial paper as a form of short-term debt. Eversource parent, CL&P, PSNH, NSTAR Gas, Yankee Gas, EGMA and Aquarion Water Company of Connecticut are parties to a five-year $2.00 billion revolving credit facility, which terminates on October 13, 2028. This revolving credit facility serves to backstop Eversource parent's $2.00 billion commercial paper program.  

NSTAR Electric has a $650 million commercial paper program allowing NSTAR Electric to issue commercial paper as a form of short-term debt. NSTAR Electric is also a party to a five-year $650 million revolving credit facility, which terminates on October 13, 2028, that serves to backstop NSTAR Electric's $650 million commercial paper program.  

The amount of borrowings outstanding and available under the commercial paper programs were as follows:

	Borrowings Outstanding as of				Available Borrowing Capacity as of				Weighted-Average Interest Rate as of
	June 30, 2024		December 31, 2023		June 30, 2024		December 31, 2023		June 30, 2024		December 31, 2023
(Millions of Dollars)
Eversource Parent Commercial Paper Program	$	1,203.0	$	1,771.9	$	797.0	$	228.1	5.67	%	5.60	%
NSTAR Electric Commercial Paper Program	236.5		365.8		413.5		284.2		5.37	%	5.40	%

There were no borrowings outstanding on the revolving credit facilities as of June 30, 2024 or December 31, 2023.

CL&P and PSNH have uncommitted line of credit agreements totaling $375 million and $250 million, respectively, all of which will expire in either October 2024, May 2025 or September 2025. There are no borrowings outstanding on either the CL&P or PSNH uncommitted line of credit agreements as of June 30, 2024.

Amounts outstanding under the commercial paper programs are included in Notes Payable and classified in current liabilities on the Eversource and NSTAR Electric balance sheets, as all borrowings are outstanding for no more than 364 days at one time. As a result of the CL&P long-term debt issuance in January 2024, $207.3 million of commercial paper borrowings under the Eversource parent commercial paper program were reclassified to Long-Term Debt on Eversource parent’s balance sheet as of December 31, 2023. As a result of the Yankee Gas long-term debt issuances in July 2024, $37.9 million of commercial paper borrowings under the Eversource parent commercial paper program were reclassified to Long-Term Debt on Eversource parent’s balance sheet as of June 30, 2024.

Intercompany Borrowings: Eversource parent uses its available capital resources to provide loans to its subsidiaries to assist in meeting their short-term borrowing needs. Eversource parent records intercompany interest income from its loans to subsidiaries, which is eliminated in consolidation. Intercompany loans from Eversource parent to its subsidiaries are eliminated in consolidation on Eversource's balance sheets. As of June 30, 2024, there were intercompany loans from Eversource parent to CL&P of $407.8 million and to PSNH of $132.0 million. As of December 31, 2023, there were intercompany loans from Eversource parent to CL&P of $457.0 million and to PSNH of $233.0 million. Eversource parent charges interest on these intercompany loans at the same weighted-average interest rate as its commercial paper program. Intercompany loans from Eversource parent are included in Notes Payable to Eversource Parent and classified in current liabilities on the respective subsidiary's balance sheets, as these intercompany borrowings are outstanding for no more than 364 days at one time. As a result of the CL&P long-term debt issuance in January 2024, $207.3 million of CL&P’s intercompany borrowings were reclassified to Long-Term Debt on CL&P’s balance sheet as of December 31, 2023.

Sources and Uses of Cash: The Company expects the future operating cash flows of Eversource, CL&P, NSTAR Electric and PSNH, along with existing borrowing availability and access to both debt and equity markets, will be sufficient to meet any working capital and future operating requirements, and capital investment forecasted opportunities.

Long-Term Debt Issuance Authorizations: On February 8, 2024, the NHPUC approved PSNH’s request for authorization to issue up to $300 million in long-term debt through December 31, 2024. On May 1, 2024, the DPU approved NSTAR Electric’s request for authorization to issue up to $2.4 billion in long-term debt through December 31, 2026. On July 24, 2024, PURA approved CL&P’s request for authorization to issue up to $1.0 billion in long-term debt through December 31, 2025.

Long-Term Debt Issuances and Repayments: The following table summarizes long-term debt issuances and repayments:

(Millions of Dollars)	Interest Rate		Issuance/(Repayment)		Issue Date or Repayment Date	Maturity Date	Use of Proceeds for Issuance/ Repayment Information
CL&P 2024 Series A First Mortgage Bonds	4.65	%	$	350.0	January 2024	January 2029	Repaid short-term debt, paid capital expenditures and working capital
NSTAR Electric 2024 Debentures	5.40	%	600.0		May 2024	June 2034	Repaid short-term debt, paid capital expenditures and working capital
PSNH Series X First Mortgage Bonds	5.35	%	300.0		April 2024	October 2033	Repaid short-term debt, paid capital expenditures and working capital
Eversource Parent Series DD Senior Notes	5.00	%	350.0		January 2024	January 2027	Repaid short-term debt
Eversource Parent Series EE Senior Notes	5.50	%	650.0		January 2024	January 2034	Repaid short-term debt
Eversource Parent Series FF Senior Notes	5.85	%	700.0		April 2024	April 2031	Repay Series X Senior Notes and Aquarion’s 2014 Senior Notes at maturity and short-term debt
Eversource Parent Series GG Senior Notes	5.95	%	700.0		April 2024	July 2034	Repay Series X Senior Notes and Aquarion’s 2014 Senior Notes at maturity and short-term debt
Eversource Parent Series X Senior Notes	4.20	%	(900.0)		June 2024	June 2024	Paid at maturity
NSTAR Gas Series W First Mortgage Bonds	5.29	%	160.0		June 2024	June 2029	Repaid short-term debt, paid capital expenditures and general corporate purchases
NSTAR Gas Series X First Mortgage Bonds	5.48	%	40.0		June 2024	June 2034	Repaid short-term debt, paid capital expenditures and general corporate purchases
Yankee Gas Series W First Mortgage Bonds	5.50	%	90.0		July 2024	July 2029	Repaid short-term debt, paid capital expenditures, working capital and repay Series P bonds at maturity
Yankee Gas Series X First Mortgage Bonds	5.74	%	90.0		July 2024	July 2034	Repaid short-term debt, paid capital expenditures, working capital and repay Series P bonds at maturity

As a result of the Yankee Gas long-term debt issuances in July 2024, $100.0 million of current portion of long-term debt was reclassified to Long-Term Debt on Eversource parent’s balance sheet as of June 30, 2024.

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RATE REDUCTION BONDS AND VARIABLE INTEREST ENTITIES

6 Months Ended

Jun. 30, 2024

Rate Reduction Bonds and Variable Interest Entity [Abstract]

RATE REDUCTION BONDS AND VARIABLE INTEREST ENTITIES

RATE REDUCTION BONDS AND VARIABLE INTEREST ENTITIES

Rate Reduction Bonds: In May 2018, PSNH Funding, a wholly-owned subsidiary of PSNH, issued $635.7 million of securitized RRBs in multiple tranches with a weighted average interest rate of 3.66 percent, and final maturity dates ranging from 2026 to 2035.  The RRBs are expected to be repaid by February 1, 2033. RRB payments consist of principal and interest and are paid semi-annually, beginning on February 1, 2019. The RRBs were issued pursuant to a finance order issued by the NHPUC in January 2018 to recover remaining costs resulting from the divestiture of PSNH’s generation assets.

PSNH Funding was formed solely to issue RRBs to finance PSNH's unrecovered remaining costs associated with the divestiture of its generation assets. PSNH Funding is considered a VIE primarily because the equity capitalization is insufficient to support its operations. PSNH has the power to direct the significant activities of the VIE and is most closely associated with the VIE as compared to other interest holders. Therefore, PSNH is considered the primary beneficiary and consolidates PSNH Funding in its consolidated financial statements.

The following tables summarize the impact of PSNH Funding on PSNH's balance sheets and income statements:

(Millions of Dollars)
PSNH Balance Sheets:	As of June 30, 2024		As of December 31, 2023
Restricted Cash - Current Portion (included in Special Deposits)	$	29.0	$	30.0
Restricted Cash - Long-Term Portion (included in Other Long-Term Assets)	3.2		3.2
Securitized Stranded Cost (included in Regulatory Assets)	370.9		392.5
Other Regulatory Liabilities (included in Regulatory Liabilities)	4.7		5.3
Accrued Interest (included in Other Current Liabilities)	6.1		6.3
Rate Reduction Bonds - Current Portion	43.2		43.2
Rate Reduction Bonds - Long-Term Portion	345.7		367.3

(Millions of Dollars) PSNH Income Statements:	For the Three Months Ended				For the Six Months Ended
	June 30, 2024		June 30, 2023		June 30, 2024		June 30, 2023
Amortization of RRB Principal (included in Amortization of Regulatory Assets/(Liabilities), Net)	$	10.8	$	10.8	$	21.6	$	21.6
Interest Expense on RRB Principal (included in Interest Expense)	3.6		3.9		7.3		8.0

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PENSION BENEFITS AND POSTRETIREMENT BENEFITS OTHER THAN PENSION

6 Months Ended

Jun. 30, 2024

Postemployment Benefits [Abstract]

PENSION BENEFITS AND POSTRETIREMENT BENEFITS OTHER THAN PENSION

PENSION BENEFITS AND POSTRETIREMENT BENEFITS OTHER THAN PENSION

Eversource provides defined benefit retirement plans (Pension Plans) that cover eligible employees.  In addition to the Pension Plans, Eversource maintains non-qualified defined benefit retirement plans (SERP Plans), which provide benefits in excess of Internal Revenue Code limitations to eligible participants consisting of current and retired employees. Eversource also provides defined benefit postretirement plans (PBOP Plans) that provide life insurance and a health reimbursement arrangement created for the purpose of reimbursing retirees and dependents for health insurance premiums and certain medical expenses to eligible employees that meet certain age and service eligibility requirements.

The components of net periodic benefit plan expense/(income) for the Pension, SERP and PBOP Plans, prior to amounts capitalized as Property, Plant and Equipment or deferred as regulatory assets/(liabilities) for future recovery or refund, are shown below.  The service cost component of net periodic benefit plan expense/(income), less the capitalized portion, is included in Operations and Maintenance expense on the statements of income. The remaining components of net periodic benefit plan expense/(income), less the deferred portion, are included in Other Income, Net on the statements of income. Pension, SERP and PBOP expense reflected in the statements of cash flows for CL&P, NSTAR Electric and PSNH does not include intercompany allocations of net periodic benefit plan expense/(income), as these amounts are cash settled on a short-term basis.

	Pension and SERP								PBOP
	For the Three Months Ended June 30, 2024								For the Three Months Ended June 30, 2024
(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric		PSNH
Service Cost	$	11.2	$	3.3	$	1.9	$	1.1	$	1.8	$	0.3	$	0.3	$	0.2
Interest Cost	62.7		12.7		12.8		6.7		8.0		1.4		2.2		0.8
Expected Return on Plan Assets	(115.7)		(23.5)		(28.0)		(12.2)		(20.3)		(2.3)		(9.9)		(1.4)
Actuarial Loss/(Gain)	22.1		3.2		6.4		1.3		(0.1)		—		—		—
Prior Service Cost/(Credit)	0.3		—		0.1		—		(5.4)		0.2		(4.3)		0.1
Total Net Periodic Benefit Plan Income	$	(19.4)	$	(4.3)	$	(6.8)	$	(3.1)	$	(16.0)	$	(0.4)	$	(11.7)	$	(0.3)
Intercompany Income Allocations	N/A		$	(0.6)	$	(0.6)	$	(0.2)	N/A		$	(0.5)	$	(0.6)	$	(0.2)
	Pension and SERP								PBOP
	For the Six Months Ended June 30, 2024								For the Six Months Ended June 30, 2024
(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric		PSNH
Service Cost	$	22.0	$	6.2	$	4.0	$	2.1	$	3.5	$	0.6	$	0.6	$	0.3
Interest Cost	124.7		25.1		25.9		13.4		16.0		2.8		4.4		1.7
Expected Return on Plan Assets	(231.3)		(46.8)		(56.3)		(24.4)		(40.7)		(4.7)		(19.8)		(2.8)
Actuarial Loss/(Gain)	41.9		5.7		12.8		2.4		(0.2)		—		—		—
Prior Service Cost/(Credit)	0.6		—		0.2		—		(10.8)		0.5		(8.5)		0.2
Settlement Loss	4.3		—		—		—		—		—		—		—
Total Net Periodic Benefit Plan Income	$	(37.8)	$	(9.8)	$	(13.4)	$	(6.5)	$	(32.2)	$	(0.8)	$	(23.3)	$	(0.6)
Intercompany Income Allocations	N/A		$	(0.3)	$	(0.2)	$	(0.1)	N/A		$	(1.1)	$	(1.3)	$	(0.4)
	Pension and SERP								PBOP
	For the Three Months Ended June 30, 2023								For the Three Months Ended June 30, 2023
(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric		PSNH
Service Cost	$	10.7	$	3.1	$	1.9	$	1.1	$	2.0	$	0.3	$	0.3	$	0.2
Interest Cost	63.5		12.7		13.5		6.8		8.4		1.5		2.3		0.9
Expected Return on Plan Assets	(116.5)		(23.7)		(28.5)		(12.5)		(19.5)		(2.3)		(9.3)		(1.4)
Actuarial Loss	11.6		0.6		4.0		0.4		—		—		—		—
Prior Service Cost/(Credit)	0.3		—		0.1		—		(5.4)		0.3		(4.3)		0.1
Settlement Loss	3.7		—		—		—		—		—		—		—
Total Net Periodic Benefit Plan Income	$	(26.7)	$	(7.3)	$	(9.0)	$	(4.2)	$	(14.5)	$	(0.2)	$	(11.0)	$	(0.2)
Intercompany Income Allocations	N/A		$	(0.6)	$	(0.4)	$	(0.1)	N/A		$	(0.4)	$	(0.5)	$	(0.1)

	Pension and SERP								PBOP
	For the Six Months Ended June 30, 2023								For the Six Months Ended June 30, 2023
(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric		PSNH
Service Cost	$	21.7	$	6.1	$	4.0	$	2.2	$	3.8	$	0.6	$	0.6	$	0.4
Interest Cost	127.2		25.3		27.0		13.6		16.9		3.1		4.6		1.8
Expected Return on Plan Assets	(232.4)		(47.1)		(56.9)		(24.8)		(38.6)		(4.7)		(18.5)		(2.8)
Actuarial Loss	24.1		1.4		8.9		0.8		—		—		—		—
Prior Service Cost/(Credit)	0.6		—		0.2		—		(10.8)		0.6		(8.5)		0.2
Settlement Loss	3.7		—		—		—		—		—		—		—
Total Net Periodic Benefit Plan Income	$	(55.1)	$	(14.3)	$	(16.8)	$	(8.2)	$	(28.7)	$	(0.4)	$	(21.8)	$	(0.4)
Intercompany Income Allocations	N/A		$	(2.6)	$	(2.1)	$	(0.6)	N/A		$	(0.9)	$	(1.1)	$	(0.3)

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COMMITMENTS AND CONTINGENCIES

6 Months Ended

Jun. 30, 2024

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES

A.    Environmental Matters

Eversource, CL&P, NSTAR Electric and PSNH are subject to environmental laws and regulations intended to mitigate or remove the effect of past operations and improve or maintain the quality of the environment. These laws and regulations require the removal or the remedy of the effect on the environment of the disposal or release of certain specified hazardous substances at current and former operating sites. Eversource, CL&P, NSTAR Electric and PSNH have an active environmental auditing and training program and each believes it is substantially in compliance with all enacted laws and regulations.

The number of environmental sites and related reserves for which remediation or long-term monitoring, preliminary site work or site assessment is being performed are as follows:

	As of June 30, 2024			As of December 31, 2023
	Number of Sites	Reserve (in millions)		Number of Sites	Reserve (in millions)
Eversource	66	$	127.1	65	$	128.2
CL&P	16	13.4		16	13.8
NSTAR Electric	13	5.9		12	5.4
PSNH	8	6.5		8	7.6

Included in the number of sites and reserve amounts above are former MGP sites that were operated several decades ago and manufactured natural gas from coal and other processes, which resulted in certain by-products remaining in the environment that may pose a potential risk to human health and the environment, for which Eversource may have potential liability.  Eversource’s reserve balances related to these former MGP sites were $115.5 million and $117.1 million as of June 30, 2024 and December 31, 2023, respectively, and related primarily to the natural gas business segment.

These reserve estimates are subjective in nature as they take into consideration several different remediation options at each specific site.  The reliability and precision of these estimates can be affected by several factors, including new information concerning either the level of contamination at the site, the extent of Eversource's, CL&P's, NSTAR Electric's and PSNH's responsibility for remediation or the extent of remediation required, recently enacted laws and regulations or changes in cost estimates due to certain economic factors.  It is possible that new information or future developments could require a reassessment of the potential exposure to required environmental remediation.  As this information becomes available, management will continue to assess the potential exposure and adjust the reserves accordingly.

B.    Long-Term Contractual Arrangements

The following is an update to the current status of long-term contractual arrangements set forth in Note 13B of the Eversource 2023 Form 10-K.

Renewable Energy: Renewable energy contracts include non-cancelable commitments under contracts of CL&P for the purchase of energy and capacity from renewable energy facilities. The table now includes the long-term commitments of CL&P pertaining to renewable energy purchase contracts that have now commenced significant construction activities.

CL&P
(Millions of Dollars)	2024		2025		2026		2027		2028		Thereafter		Total
Renewable Energy	$	338.1	$	651.3	$	728.7	$	732.3	$	734.5	$	3,798.2	$	6,983.1

Additionally, Renewable Energy contract costs within long-term contractual arrangements at PSNH as of December 31, 2023 included renewable energy purchase contracts related to the purchase of capacity, energy and RECs from a New Hampshire generation plant totaling $503.2 million. The NHPUC approved the termination of the PPA related to this generation plant effective February 29, 2024. As of June 30, 2024, there are no remaining long-term renewable energy purchase contracts at PSNH.

C.    Guarantees and Indemnifications

In the normal course of business, Eversource parent provides credit assurances on behalf of its subsidiaries, including CL&P, NSTAR Electric and PSNH, in the form of guarantees. Management does not anticipate a material impact to net income or cash flows as a result of these various guarantees and indemnifications. 

Guarantees issued on behalf of unconsolidated entities, including equity method offshore wind investments, for which Eversource parent is the guarantor, are recorded at fair value as a liability on the balance sheet at the inception of the guarantee. The fair value of guarantees issued on behalf of unconsolidated entities are recorded within Other Long-Term Liabilities on the balance sheet, and were $1.9 million and $4.4 million as of June 30, 2024 and December 31, 2023, respectively. Eversource regularly reviews performance risk under these guarantee arrangements, and believes the likelihood of payments being required under the guarantees is remote. In the event it becomes probable that Eversource parent will be required to perform under the guarantee, the amount of probable payment will be recorded.

The following table summarizes Eversource parent's exposure to guarantees and indemnifications of its subsidiaries and affiliates to external parties, and primarily relates to its offshore wind business:  

As of June 30, 2024
Company (Obligor)	Description	Maximum Exposure (in millions)
North East Offshore, LLC, Sunrise Wind LLC, Revolution Wind, LLC and South Fork Wind, LLC	Offshore wind construction-related purchase agreements with third-party contractors (1) (7)	$	1,418.1
Eversource Investment LLC and South Fork Class B Member, LLC	Funding and indemnification obligations of South Fork Wind and North East Offshore, LLC (2)	333.9
Eversource Investment LLC	Letters of Credit (3) (7)	23.2
Eversource TEI LLC	South Fork Wind Tax Equity (4)	50.0
South Fork Wind, LLC	Power Purchase Agreement Security (5)	7.1
Various Eversource subsidiaries	Surety bonds (6)	35.1

(1)    Eversource parent issued guarantees on behalf of its 50 percent-owned affiliates, North East Offshore, LLC (NEO), Sunrise Wind LLC, Revolution Wind, LLC and South Fork Wind, LLC, under which Eversource parent agreed to guarantee each entity’s performance of obligations under certain construction-related purchase agreements with third-party contractors, in an aggregate amount not to exceed $2.83 billion. Eversource parent’s obligations under the guarantees expire upon the earlier of (i) dates ranging between October 2024 and October 2028 and (ii) full performance of the guaranteed obligations. Eversource parent also issued a separate guarantee to Ørsted on behalf of NEO, under which Eversource parent agreed to guarantee 50 percent of NEO’s payment obligations under certain offshore wind project construction-related agreements with Ørsted in an aggregate amount not to exceed $62.5 million and expiring upon full performance of the guaranteed obligation.

(2)     Eversource parent issued guarantees on behalf of its wholly-owned subsidiary Eversource Investment LLC (EI), which holds Eversource's investments in offshore wind-related equity method investments, and on behalf of its 50 percent-owned affiliate, South Fork Class B Member, LLC, whereby Eversource parent will guarantee each entity’s performance of certain capital expenditure funding obligations during the construction phases of the South Fork Wind project and NEO’s underlying offshore wind projects. Eversource parent also guaranteed certain indemnification obligations of EI associated with third party credit support for EI’s investment in NEO. These guarantees will not exceed $1.52 billion and expire upon the full performance of the guaranteed obligations.

(3)    Eversource parent entered into a guarantee on behalf of EI, under which Eversource parent would guarantee EI's obligations under a letter of credit facility with a financial institution that EI may request in an aggregate amount of up to approximately $25 million. As of June 30, 2024, EI has issued letters of credit on behalf of South Fork Wind, LLC, Sunrise Wind LLC and Revolution Wind, LLC totaling $23.2 million. The guarantee will remain in effect until full performance of the guaranteed obligations.

(4)    Eversource parent issued a guarantee on behalf of its wholly-owned subsidiary, Eversource TEI LLC, whereby Eversource parent will guarantee Eversource TEI LLC’s performance of certain obligations, in an amount not to exceed $50.0 million, in connection with any remaining obligations under the LLC agreement. Eversource parent’s obligations expire upon the full performance of the guaranteed obligations.

(5)    Eversource parent issued a guarantee on behalf of its 50 percent-owned affiliate, South Fork Wind, LLC, whereby Eversource parent will guarantee South Fork Wind, LLC's performance of certain obligations, in an amount not to exceed $7.1 million, under a Power Purchase Agreement between the Long Island Power Authority and South Fork Wind, LLC (the Agreement). The guarantee expires upon the later of (i) the end of the Agreement term and (ii) full performance of the guaranteed obligations.

(6)    Surety bonds expire in 2024 and 2025. Expiration dates reflect termination dates, the majority of which will be renewed or extended.  Certain surety bonds contain credit ratings triggers that would require Eversource parent to post collateral in the event that the unsecured debt credit ratings of Eversource parent are downgraded.

(7)    On July 9, 2024, Eversource completed the sale to Ørsted of its 50 percent ownership interest in Sunrise Wind. In connection with the sale, (i) existing Eversource parent guarantees on behalf of Sunrise Wind of obligations under certain construction-related purchase agreements with third-party contractors with a maximum exposure of $557.2 million, and (ii) $17.8 million of letters of credit under a letter of credit facility with a financial institution on behalf of Sunrise Wind, all reflected in the table above as of June 30, 2024, were terminated.

In addition, an existing guarantee agreement on behalf of NEO, that also included Sunrise Wind, with a maximum exposure of $1.2 billion ($598.6 million of which is reflected in the above table as of June 30, 2024) was terminated. Concurrent with the termination of that guarantee agreement, Eversource parent entered into a new guarantee agreement on behalf of TurbineCo, LLC (successor in interest to NEO), that also includes Sunrise Wind, with a maximum exposure of $523.8 million. However, Ørsted has agreed to indemnify Eversource parent for all claims under that new guarantee agreement related to the performance of Sunrise Wind.

D.     Spent Nuclear Fuel Obligations - Yankee Companies

CL&P, NSTAR Electric and PSNH have plant closure and fuel storage cost obligations to the Yankee Companies, which have each completed the physical decommissioning of their respective nuclear power facilities and are now engaged in the long-term storage of their spent fuel. The Yankee Companies fund these costs through litigation proceeds received from the DOE and, to the extent necessary, through wholesale, FERC-approved rates charged under power purchase agreements with several New England utilities, including CL&P, NSTAR Electric and PSNH. CL&P, NSTAR Electric and PSNH, in turn recover these costs from their customers through state regulatory commission-approved retail rates. The Yankee Companies collect amounts that management believes are adequate to recover the remaining plant closure and fuel storage cost estimates for the respective plants. Management believes CL&P and NSTAR Electric will recover their shares of these obligations from their customers. PSNH has recovered its total share of these costs from its customers.

Spent Nuclear Fuel Litigation:

The Yankee Companies have filed complaints against the DOE in the Court of Federal Claims seeking monetary damages resulting from the DOE's failure to accept delivery of, and provide for a permanent facility to store, spent nuclear fuel pursuant to the terms of the 1983 spent fuel and high-level waste disposal contracts between the Yankee Companies and the DOE. The court previously awarded the Yankee Companies damages for Phases I, II, III and IV of litigation resulting from the DOE's failure to meet its contractual obligations. These Phases covered damages incurred in the years 1998 through 2016, and the awarded damages have been received by the Yankee Companies with certain amounts of the damages refunded to their customers.

DOE Phase V Damages - On March 25, 2021, each of the Yankee Companies filed a fifth set of lawsuits against the DOE in the Court of Federal Claims resulting from the DOE's failure to begin accepting spent nuclear fuel for disposal covering the years from 2017 to 2020. The Yankee Companies filed claims seeking monetary damages totaling $120.4 million for CYAPC, YAEC and MYAPC. Pursuant to a June 2, 2022 court order, the Yankee Companies were subsequently permitted to include monetary damages relating to the year 2021 in the DOE Phase V complaint. The Yankee Companies submitted a supplemental filing to include these costs of $33.1 million on June 8, 2022. In June 2024, the court set dates for the DOE Phase V trial of October 28, 2024 through November 8, 2024.

E.    FERC ROE Complaints

Four separate complaints were filed at the FERC by combinations of New England state attorneys general, state regulatory commissions, consumer advocates, consumer groups, municipal parties and other parties (collectively, the Complainants). In each of the first three complaints, filed on October 1, 2011, December 27, 2012, and July 31, 2014, respectively, the Complainants challenged the NETOs' base ROE of 11.14 percent that had been utilized since 2005 and sought an order to reduce it prospectively from the date of the final FERC order and for the separate 15-month complaint periods. In the fourth complaint, filed April 29, 2016, the Complainants challenged the NETOs' base ROE billed of 10.57 percent and the maximum ROE for transmission incentive (incentive cap) of 11.74 percent, asserting that these ROEs were unjust and unreasonable.

The ROE originally billed during the period October 1, 2011 (beginning of the first complaint period) through October 15, 2014 consisted of a base ROE of 11.14 percent and incentives up to 13.1 percent. On October 16, 2014, FERC issued Opinion No. 531-A and set the base ROE at 10.57 percent and the incentive cap at 11.74 percent for the first complaint period. This was also effective for all prospective billings to customers beginning October 16, 2014. This FERC order was vacated on April 14, 2017 by the U.S. Court of Appeals for the D.C. Circuit (the Court).

All amounts associated with the first complaint period have been refunded, which totaled $38.9 million (pre-tax and excluding interest) at Eversource and reflected both the base ROE and incentive cap prescribed by the FERC order. The refund consisted of $22.4 million for CL&P, $13.7 million for NSTAR Electric and $2.8 million for PSNH.

Eversource has recorded a reserve of $39.1 million (pre-tax and excluding interest) for the second complaint period as of both June 30, 2024 and December 31, 2023. This reserve represents the difference between the billed rates during the second complaint period and a 10.57 percent base ROE and 11.74 percent incentive cap. The reserve consisted of $21.4 million for CL&P, $14.6 million for NSTAR Electric and $3.1 million for PSNH as of both June 30, 2024 and December 31, 2023.

On October 16, 2018, FERC issued an order on all four complaints describing how it intends to address the issues that were remanded by the Court. FERC proposed a new framework to determine (1) whether an existing ROE is unjust and unreasonable and, if so, (2) how to calculate a replacement ROE. Initial briefs were filed by the NETOs, Complainants and FERC Trial Staff on January 11, 2019 and reply briefs were filed on March 8, 2019. The NETOs' brief was supportive of the overall ROE methodology determined in the October 16, 2018 order provided the FERC does not change the proposed methodology or alter its implementation in a manner that has a material impact on the results.

The FERC order included illustrative calculations for the first complaint using FERC's proposed frameworks with financial data from that complaint. Those illustrative calculations indicated that for the first complaint period, for the NETOs, which FERC concludes are of average financial risk, the preliminary just and reasonable base ROE is 10.41 percent and the preliminary incentive cap on total ROE is 13.08 percent.

If the results of the illustrative calculations were included in a final FERC order for each of the complaint periods, then a 10.41 percent base ROE and a 13.08 percent incentive cap would not have a significant impact on our financial statements for all of the complaint periods. These preliminary calculations are not binding and do not represent what we believe to be the most likely outcome of a final FERC order.

On November 21, 2019, FERC issued Opinion No. 569 affecting the two pending transmission ROE complaints against the Midcontinent ISO (MISO) transmission owners, in which FERC adopted a new methodology for determining base ROEs. Various parties sought rehearing. On December 23, 2019, the NETOs filed supplementary materials in the NETOs' four pending cases to respond to this new methodology because of the uncertainty of the applicability to the NETOs' cases. On May 21, 2020, the FERC issued its order in Opinion No. 569-A on the rehearing of the MISO transmission owners' cases, in which FERC again changed its methodology for determining the MISO transmission owners' base ROEs. On November 19, 2020, the FERC issued Opinion No. 569-B denying rehearing of Opinion No. 569-A and reaffirmed the methodology previously adopted in Opinion No. 569-A. The new methodology differs significantly from the methodology proposed by FERC in its October 16, 2018 order to determine the NETOs' base ROEs in its four pending cases. FERC Opinion Nos. 569-A and 569-B were appealed to the Court. On August 9, 2022, the Court issued its decision vacating MISO ROE FERC Opinion Nos. 569, 569-A and 569-B and remanded to FERC to reopen the proceedings. The Court found that FERC’s development of the new return methodology was arbitrary and capricious due to FERC’s failure to offer a reasonable explanation for its decision to reintroduce the risk-premium financial model in its new methodology for calculating a just and reasonable return. At this time, Eversource cannot predict how and when FERC will address the Court’s findings on the remand of the MISO FERC opinions or any potential associated impact on the NETOs’ four pending ROE complaint cases.

Given the significant uncertainty regarding the applicability of the FERC opinions in the MISO transmission owners’ two complaint cases to the NETOs’ pending four complaint cases, Eversource concluded that there is no reasonable basis for a change to the reserve or recognized ROEs for any of the complaint periods at this time. As well, Eversource cannot reasonably estimate a range of loss for any of the four complaint proceedings at this time.

Eversource, CL&P, NSTAR Electric and PSNH currently record revenues at the 10.57 percent base ROE and incentive cap at 11.74 percent established in the October 16, 2014 FERC order.

A change of 10 basis points to the base ROE used to establish the reserves would impact Eversource’s after-tax earnings by an average of approximately $3 million for each of the four 15-month complaint periods.

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FAIR VALUE OF FINANCIAL INSTRUMENTS

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

FAIR VALUE OF FINANCIAL INSTRUMENTS

FAIR VALUE OF FINANCIAL INSTRUMENTS

The following methods and assumptions were used to estimate the fair value of each of the following financial instruments:

Preferred Stock, Long-Term Debt and Rate Reduction Bonds:  The fair value of CL&P's and NSTAR Electric's preferred stock is based upon pricing models that incorporate interest rates and other market factors, valuations or trades of similar securities and cash flow projections.  The fair value of long-term debt and RRB debt securities is based upon pricing models that incorporate quoted market prices for those issues or similar issues adjusted for market conditions, credit ratings of the respective companies and treasury benchmark yields.  The fair values provided in the table below are classified as Level 2 within the fair value hierarchy.  Carrying amounts and estimated fair values are as follows:

	Eversource				CL&P				NSTAR Electric				PSNH
(Millions of Dollars)	Carrying Amount		Fair Value		Carrying Amount		Fair Value		Carrying Amount		Fair Value		Carrying Amount		Fair Value
As of June 30, 2024:
Preferred Stock Not Subject to Mandatory Redemption	$	155.6	$	121.8	$	116.2	$	89.6	$	43.0	$	32.2	$	—	$	—
Long-Term Debt	27,164.3		25,027.7		4,954.1		4,537.7		5,093.0		4,723.9		1,731.5		1,527.2
Rate Reduction Bonds	388.9		368.8		—		—		—		—		388.9		368.8
As of December 31, 2023:
Preferred Stock Not Subject to Mandatory Redemption	$	155.6	$	122.2	$	116.2	$	90.4	$	43.0	$	31.8	$	—	$	—
Long-Term Debt	24,413.5		22,855.2		4,814.4		4,572.0		4,496.9		4,273.7		1,431.6		1,292.6
Rate Reduction Bonds	410.5		395.0		—		—		—		—		410.5		395.0

Derivative Instruments and Marketable Securities: Derivative instruments and investments in marketable securities are carried at fair value.  For further information, see Note 4, "Derivative Instruments," and Note 5, "Marketable Securities," to the financial statements.  

See Note 1C, "Summary of Significant Accounting Policies – Fair Value Measurements," for the fair value measurement policy and the fair value hierarchy.

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ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS)

6 Months Ended

Jun. 30, 2024

Equity [Abstract]

ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS)

ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS)

The changes in accumulated other comprehensive income/(loss) by component, net of tax, are as follows:

	For the Six Months Ended June 30, 2024						For the Six Months Ended June 30, 2023
Eversource (Millions of Dollars)	Qualified Cash Flow Hedging Instruments		Defined Benefit Plans		Total		Qualified Cash Flow Hedging Instruments		Unrealized Gains/(Losses) on Marketable Securities		Defined Benefit Plans		Total
Balance as of Beginning of Period	$	(0.4)	$	(33.3)	$	(33.7)	$	(0.4)	$	(1.2)	$	(37.8)	$	(39.4)
OCI Before Reclassifications	—		(0.9)		(0.9)		—		—		0.1		0.1
Amounts Reclassified from AOCI	—		5.0		5.0		—		1.2		6.0		7.2
Net OCI	—		4.1		4.1		—		1.2		6.1		7.3
Balance as of End of Period	$	(0.4)	$	(29.2)	$	(29.6)	$	(0.4)	$	—	$	(31.7)	$	(32.1)

Defined benefit plan OCI amounts before reclassifications relate to actuarial gains and losses that arose during the year and were recognized in AOCI. The unamortized actuarial gains and losses and prior service costs on the defined benefit plans are amortized from AOCI into Other Income, Net over the average future employee service period, and are reflected in amounts reclassified from AOCI.

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COMMON SHARES

6 Months Ended

Jun. 30, 2024

Equity [Abstract]

COMMON SHARES

COMMON SHARES

The following table sets forth the Eversource parent common shares and the shares of common stock of CL&P, NSTAR Electric and PSNH that were authorized and issued, as well as the respective per share par values:  

	Shares
			Authorized as of June 30, 2024 and December 31, 2023	Issued as of
	Par Value			June 30, 2024	December 31, 2023
Eversource	$	5	410,000,000	364,190,722	359,984,073
CL&P	$	10	24,500,000	6,035,205	6,035,205
NSTAR Electric	$	1	100,000,000	200	200
PSNH	$	1	100,000,000	301	301

Common Share Issuances and Equity Distribution Agreement: On May 11, 2022, Eversource entered into an equity distribution agreement pursuant to which it may offer and sell up to $1.2 billion of its common shares from time to time through an “at-the-market” (ATM) equity offering program. Eversource may issue and sell its common shares through its sales agents during the term of this agreement. Shares may be offered in transactions on the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise. Sales may be made at either market prices prevailing at the time of sale, at prices related to such prevailing market prices or at negotiated prices. In the first six months of 2024, Eversource issued 4,206,649 common shares, which resulted in proceeds of $248.2 million, net of issuance costs. Eversource used the net proceeds received for general corporate purposes. In 2023, no shares were issued under this agreement.

Treasury Shares: As of June 30, 2024 and December 31, 2023, there were 9,624,651 and 10,443,807 Eversource common shares held as treasury shares, respectively. As of June 30, 2024 and December 31, 2023, there were 354,566,071 and 349,540,266 Eversource common shares outstanding, respectively.

Eversource issues treasury shares to satisfy awards under the Company's incentive plans, shares issued under the dividend reinvestment and share purchase plan, and matching contributions under the Eversource 401k Plan. The issuance of treasury shares represents a non-cash transaction, as the treasury shares were used to fulfill Eversource's obligations that require the issuance of common shares.

COMMON SHAREHOLDERS' EQUITY AND NONCONTROLLING INTERESTS

Dividends on the preferred stock of CL&P and NSTAR Electric totaled $1.9 million for each of the three months ended June 30, 2024 and 2023 and $3.8 million for each of the six months ended June 30, 2024 and 2023. These dividends were presented as Net Income Attributable to Noncontrolling Interests on the Eversource statements of income. Noncontrolling Interest – Preferred Stock of Subsidiaries on the Eversource balance sheets totaled $155.6 million as of June 30, 2024 and December 31, 2023. On the Eversource balance sheets, Common Shareholders' Equity was fully attributable to Eversource parent and Noncontrolling Interest – Preferred Stock of Subsidiaries was fully attributable to the noncontrolling interest.

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COMMON SHAREHOLDERS' EQUITY AND NONCONTROLLING INTERESTS

6 Months Ended

Jun. 30, 2024

Equity [Abstract]

COMMON SHAREHOLDERS' EQUITY AND NONCONTROLLING INTERESTS

COMMON SHARES

The following table sets forth the Eversource parent common shares and the shares of common stock of CL&P, NSTAR Electric and PSNH that were authorized and issued, as well as the respective per share par values:  

	Shares
			Authorized as of June 30, 2024 and December 31, 2023	Issued as of
	Par Value			June 30, 2024	December 31, 2023
Eversource	$	5	410,000,000	364,190,722	359,984,073
CL&P	$	10	24,500,000	6,035,205	6,035,205
NSTAR Electric	$	1	100,000,000	200	200
PSNH	$	1	100,000,000	301	301

Common Share Issuances and Equity Distribution Agreement: On May 11, 2022, Eversource entered into an equity distribution agreement pursuant to which it may offer and sell up to $1.2 billion of its common shares from time to time through an “at-the-market” (ATM) equity offering program. Eversource may issue and sell its common shares through its sales agents during the term of this agreement. Shares may be offered in transactions on the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise. Sales may be made at either market prices prevailing at the time of sale, at prices related to such prevailing market prices or at negotiated prices. In the first six months of 2024, Eversource issued 4,206,649 common shares, which resulted in proceeds of $248.2 million, net of issuance costs. Eversource used the net proceeds received for general corporate purposes. In 2023, no shares were issued under this agreement.

Treasury Shares: As of June 30, 2024 and December 31, 2023, there were 9,624,651 and 10,443,807 Eversource common shares held as treasury shares, respectively. As of June 30, 2024 and December 31, 2023, there were 354,566,071 and 349,540,266 Eversource common shares outstanding, respectively.

Eversource issues treasury shares to satisfy awards under the Company's incentive plans, shares issued under the dividend reinvestment and share purchase plan, and matching contributions under the Eversource 401k Plan. The issuance of treasury shares represents a non-cash transaction, as the treasury shares were used to fulfill Eversource's obligations that require the issuance of common shares.

COMMON SHAREHOLDERS' EQUITY AND NONCONTROLLING INTERESTS

Dividends on the preferred stock of CL&P and NSTAR Electric totaled $1.9 million for each of the three months ended June 30, 2024 and 2023 and $3.8 million for each of the six months ended June 30, 2024 and 2023. These dividends were presented as Net Income Attributable to Noncontrolling Interests on the Eversource statements of income. Noncontrolling Interest – Preferred Stock of Subsidiaries on the Eversource balance sheets totaled $155.6 million as of June 30, 2024 and December 31, 2023. On the Eversource balance sheets, Common Shareholders' Equity was fully attributable to Eversource parent and Noncontrolling Interest – Preferred Stock of Subsidiaries was fully attributable to the noncontrolling interest.

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EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

EARNINGS PER SHARE

EARNINGS PER SHARE

Basic EPS is computed based upon the weighted average number of common shares outstanding during each period.  Diluted EPS is computed on the basis of the weighted average number of common shares outstanding plus the potential dilutive effect of certain share-based compensation awards as if they were converted into outstanding common shares.  The dilutive effect of unvested RSU and performance share awards is calculated using the treasury stock method.  RSU and performance share awards are included in basic weighted average common shares outstanding as of the date that all necessary vesting conditions have been satisfied. For the three and six months ended June 30, 2024 and 2023, there were no antidilutive share awards excluded from the computation of diluted EPS.

The following table sets forth the components of basic and diluted EPS:

Eversource (Millions of Dollars, except share information)	For the Three Months Ended				For the Six Months Ended
	June 30, 2024		June 30, 2023		June 30, 2024		June 30, 2023
Net Income Attributable to Common Shareholders	$	335.3	$	15.4	$	857.2	$	506.6
Weighted Average Common Shares Outstanding:
Basic	353,212,378		349,462,359		351,964,747		349,339,752
Dilutive Effect	207,280		267,623		243,693		331,244
Diluted	353,419,658		349,729,982		352,208,440		349,670,996
Basic EPS	$	0.95	$	0.04	$	2.44	$	1.45
Diluted EPS	$	0.95	$	0.04	$	2.43	$	1.45

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REVENUES

6 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

REVENUES

REVENUES

The following tables present operating revenues disaggregated by revenue source:

	For the Three Months Ended June 30, 2024
Eversource (Millions of Dollars)	Electric Distribution		Natural Gas Distribution		Electric Transmission		Water Distribution		Other		Eliminations		Total
Revenues from Contracts with Customers
Retail Tariff Sales
Residential	$	1,027.5	$	204.1	$	—	$	37.8	$	—	$	—	$	1,269.4
Commercial	683.2		116.4		—		18.2		—		(1.5)		816.3
Industrial	89.9		35.6		—		1.1		—		(6.0)		120.6
Total Retail Tariff Sales Revenues	1,800.6		356.1		—		57.1		—		(7.5)		2,206.3
Wholesale Transmission Revenues	—		—		512.9		—		—		(396.1)		116.8
Wholesale Market Sales Revenues	132.0		35.0		—		1.0		—		—		168.0
Other Revenues from Contracts with Customers	16.1		1.5		3.6		1.5		395.2		(393.7)		24.2
Total Revenues from Contracts with Customers	1,948.7		392.6		516.5		59.6		395.2		(797.3)		2,515.3
Alternative Revenue Programs	14.0		0.2		17.5		(2.4)		—		(15.8)		13.5
Other Revenues	3.6		0.7		0.1		0.3		—		—		4.7
Total Operating Revenues	$	1,966.3	$	393.5	$	534.1	$	57.5	$	395.2	$	(813.1)	$	2,533.5
	For the Six Months Ended June 30, 2024
Eversource (Millions of Dollars)	Electric Distribution		Natural Gas Distribution		Electric Transmission		Water Distribution		Other		Eliminations		Total
Revenues from Contracts with Customers
Retail Tariff Sales
Residential	$	2,281.6	$	711.7	$	—	$	68.0	$	—	$	—	$	3,061.3
Commercial	1,390.7		363.4		—		34.4		—		(3.2)		1,785.3
Industrial	177.6		95.4		—		2.2		—		(11.1)		264.1
Total Retail Tariff Sales Revenues	3,849.9		1,170.5		—		104.6		—		(14.3)		5,110.7
Wholesale Transmission Revenues	—		—		987.0		—		—		(757.7)		229.3
Wholesale Market Sales Revenues	297.3		93.3		—		1.9		—		—		392.5
Other Revenues from Contracts with Customers	44.5		2.6		7.6		1.3		838.8		(835.2)		59.6
Total Revenues from Contracts with Customers	4,191.7		1,266.4		994.6		107.8		838.8		(1,607.2)		5,792.1
Alternative Revenue Programs	27.3		31.6		47.0		(0.7)		—		(42.6)		62.6
Other Revenues	9.0		1.5		0.3		0.6		—		—		11.4
Total Operating Revenues	$	4,228.0	$	1,299.5	$	1,041.9	$	107.7	$	838.8	$	(1,649.8)	$	5,866.1

	For the Three Months Ended June 30, 2023
Eversource (Millions of Dollars)	Electric Distribution		Natural Gas Distribution		Electric Transmission		Water Distribution		Other		Eliminations		Total
Revenues from Contracts with Customers
Retail Tariff Sales
Residential	$	1,142.2	$	198.4	$	—	$	38.9	$	—	$	—	$	1,379.5
Commercial	692.1		129.9		—		18.2		—		(1.2)		839.0
Industrial	84.9		41.9		—		1.1		—		(4.7)		123.2
Total Retail Tariff Sales Revenues	1,919.2		370.2		—		58.2		—		(5.9)		2,341.7
Wholesale Transmission Revenues	—		—		403.0		—		—		(303.8)		99.2
Wholesale Market Sales Revenues	112.3		39.8		—		1.0		—		—		153.1
Other Revenues from Contracts with Customers	21.0		1.1		4.5		2.0		408.8		(405.8)		31.6
Total Revenues from Contracts with Customers	2,052.5		411.1		407.5		61.2		408.8		(715.5)		2,625.6
Alternative Revenue Programs	(3.0)		(3.1)		72.5		(3.4)		—		(65.7)		(2.7)
Other Revenues	4.9		1.1		0.1		0.3		—		—		6.4
Total Operating Revenues	$	2,054.4	$	409.1	$	480.1	$	58.1	$	408.8	$	(781.2)	$	2,629.3
	For the Six Months Ended June 30, 2023
Eversource (Millions of Dollars)	Electric Distribution		Natural Gas Distribution		Electric Transmission		Water Distribution		Other		Eliminations		Total
Revenues from Contracts with Customers
Retail Tariff Sales
Residential	$	2,606.2	$	774.9	$	—	$	67.9	$	—	$	—	$	3,449.0
Commercial	1,480.5		450.0		—		33.7		—		(2.3)		1,961.9
Industrial	174.1		111.4		—		2.1		—		(9.7)		277.9
Total Retail Tariff Sales Revenues	4,260.8		1,336.3		—		103.7		—		(12.0)		5,688.8
Wholesale Transmission Revenues	—		—		838.1		—		—		(629.1)		209.0
Wholesale Market Sales Revenues	329.6		88.9		—		1.8		—		—		420.3
Other Revenues from Contracts with Customers	39.2		2.7		9.1		4.0		822.7		(818.3)		59.4
Total Revenues from Contracts with Customers	4,629.6		1,427.9		847.2		109.5		822.7		(1,459.4)		6,377.5
Alternative Revenue Programs	3.1		24.3		91.2		(1.7)		—		(82.7)		34.2
Other Revenues	10.3		2.1		0.4		0.5		—		—		13.3
Total Operating Revenues	$	4,643.0	$	1,454.3	$	938.8	$	108.3	$	822.7	$	(1,542.1)	$	6,425.0

	For the Three Months Ended June 30, 2024						For the Three Months Ended June 30, 2023
(Millions of Dollars)	CL&P		NSTAR Electric		PSNH		CL&P		NSTAR Electric		PSNH
Revenues from Contracts with Customers
Retail Tariff Sales
Residential	$	513.7	$	380.2	$	133.6	$	593.7	$	370.5	$	178.0
Commercial	248.0		354.4		81.1		255.0		347.2		90.2
Industrial	32.6		30.2		27.1		31.3		31.1		22.5
Total Retail Tariff Sales Revenues	794.3		764.8		241.8		880.0		748.8		290.7
Wholesale Transmission Revenues	218.8		200.9		93.2		172.5		166.9		63.6
Wholesale Market Sales Revenues	97.4		27.0		7.6		62.9		32.5		16.9
Other Revenues from Contracts with Customers	1.5		13.3		5.5		8.8		12.9		4.4
Total Revenues from Contracts with Customers	1,112.0		1,006.0		348.1		1,124.2		961.1		375.6
Alternative Revenue Programs	23.9		4.2		3.4		52.6		(5.0)		21.9
Other Revenues	1.5		1.6		0.6		2.5		1.8		0.7
Eliminations	(172.8)		(166.7)		(64.8)		(145.2)		(138.9)		(48.1)
Total Operating Revenues	$	964.6	$	845.1	$	287.3	$	1,034.1	$	819.0	$	350.1

	For the Six Months Ended June 30, 2024						For the Six Months Ended June 30, 2023
(Millions of Dollars)	CL&P		NSTAR Electric		PSNH		CL&P		NSTAR Electric		PSNH
Revenues from Contracts with Customers
Retail Tariff Sales
Residential	$	1,140.6	$	842.4	$	298.6	$	1,355.9	$	838.3	$	412.0
Commercial	500.4		727.9		163.1		550.3		731.5		198.8
Industrial	65.8		60.1		51.7		65.2		63.8		45.1
Total Retail Tariff Sales Revenues	1,706.8		1,630.4		513.4		1,971.4		1,633.6		655.9
Wholesale Transmission Revenues	419.5		389.7		177.8		368.3		334.7		135.1
Wholesale Market Sales Revenues	218.6		58.6		20.1		217.6		73.6		38.4
Other Revenues from Contracts with Customers	18.0		24.4		10.7		18.7		23.6		7.3
Total Revenues from Contracts with Customers	2,362.9		2,103.1		722.0		2,576.0		2,065.5		836.7
Alternative Revenue Programs	51.3		12.0		11.0		77.3		(14.5)		31.5
Other Revenues	4.3		3.6		1.4		4.7		4.3		1.7
Eliminations	(332.6)		(326.0)		(121.0)		(284.9)		(280.0)		(99.7)
Total Operating Revenues	$	2,085.9	$	1,792.7	$	613.4	$	2,373.1	$	1,775.3	$	770.2

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SEGMENT INFORMATION

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

SEGMENT INFORMATION

SEGMENT INFORMATION

Eversource is organized into the Electric Distribution, Electric Transmission, Natural Gas Distribution and Water Distribution reportable segments and Other based on a combination of factors, including the characteristics of each segments' services, the sources of operating revenues and expenses and the regulatory environment in which each segment operates.  These reportable segments represent substantially all of Eversource's total consolidated revenues.  Revenues from the sale of electricity, natural gas and water primarily are derived from residential, commercial and industrial customers and are not dependent on any single customer.  The Electric Distribution reportable segment includes the results of NSTAR Electric's solar power facilities. Eversource's reportable segments are determined based upon the level at which Eversource's chief operating decision maker assesses performance and makes decisions about the allocation of company resources.

The remainder of Eversource's operations is presented as Other in the tables below and primarily consists of 1) the equity in earnings of Eversource parent from its subsidiaries and intercompany interest income, both of which are eliminated in consolidation, and interest expense related to the debt of Eversource parent, 2) the revenues and expenses of Eversource Service, most of which are eliminated in consolidation, 3) the operations of CYAPC and YAEC, 4) the results of other unregulated subsidiaries, which are not part of its core business, and 5) Eversource parent's equity ownership interests that are not consolidated, which primarily include the offshore wind business, a natural gas pipeline owned by Enbridge, Inc., and a renewable energy investment fund that was liquidated in the first quarter of 2023.

In the ordinary course of business, Yankee Gas, NSTAR Gas and EGMA purchase natural gas transmission services from the Enbridge, Inc. natural gas pipeline project described above. These affiliate transaction costs total $77.7 million annually and are classified as Purchased Power, Purchased Natural Gas and Transmission on the Eversource statements of income.

Each of Eversource's subsidiaries, including CL&P, NSTAR Electric and PSNH, has one reportable segment.

Cash flows used for investments in plant included in the segment information below are cash capital expenditures that do not include amounts incurred on capital projects but not yet paid, cost of removal, AFUDC related to equity funds, and the capitalized and deferred portions of pension and PBOP income/expense.  Eversource's segment information is as follows:

	For the Three Months Ended June 30, 2024
Eversource (Millions of Dollars)	Electric Distribution		Natural Gas Distribution		Electric Transmission		Water Distribution		Other		Eliminations		Total
Operating Revenues	$	1,966.3	$	393.5	$	534.1	$	57.5	$	395.2	$	(813.1)	$	2,533.5
Depreciation and Amortization	(34.9)		(50.1)		(98.8)		(10.8)		(48.5)		2.7		(240.4)
Other Operating Expenses	(1,713.6)		(295.2)		(147.1)		(30.9)		(314.2)		810.4		(1,690.6)
Operating Income	$	217.8	$	48.2	$	288.2	$	15.8	$	32.5	$	—	$	602.5
Interest Expense	$	(90.9)	$	(22.3)	$	(46.0)	$	(9.7)	$	(161.0)	$	58.6	$	(271.3)
Other Income, Net	67.0		10.9		12.2		0.6		473.5		(448.9)		115.3
Net Income Attributable to Common Shareholders	149.7		27.1		189.0		8.0		351.8		(390.3)		335.3
	For the Six Months Ended June 30, 2024
Eversource (Millions of Dollars)	Electric Distribution		Natural Gas Distribution		Electric Transmission		Water Distribution		Other		Eliminations		Total
Operating Revenues	$	4,228.0	$	1,299.5	$	1,041.9	$	107.7	$	838.8	$	(1,649.8)	$	5,866.1
Depreciation and Amortization	(144.6)		(133.2)		(199.8)		(11.5)		(94.1)		5.2		(578.0)
Other Operating Expenses	(3,618.7)		(849.8)		(289.0)		(63.0)		(663.7)		1,644.6		(3,839.6)
Operating Income	$	464.7	$	316.5	$	553.1	$	33.2	$	81.0	$	—	$	1,448.5
Interest Expense	$	(173.4)	$	(46.8)	$	(86.9)	$	(21.1)	$	(307.2)	$	113.3	$	(522.1)
Other Income, Net	123.5		21.0		26.3		2.3		1,096.2		(1,063.0)		206.3
Net Income Attributable to Common Shareholders	317.9		217.6		365.7		13.4		892.3		(949.7)		857.2
Cash Flows Used for Investments in Plant	883.6		467.9		668.1		75.7		125.6		—		2,220.9

	For the Three Months Ended June 30, 2023
Eversource (Millions of Dollars)	Electric Distribution		Natural Gas Distribution		Electric Transmission		Water Distribution		Other		Eliminations		Total
Operating Revenues	$	2,054.4	$	409.1	$	480.1	$	58.1	$	408.8	$	(781.2)	$	2,629.3
Depreciation and Amortization	82.1		(41.7)		(92.0)		(14.1)		(38.0)		2.2		(101.5)
Other Operating Expenses	(1,905.2)		(339.4)		(136.2)		(28.6)		(337.2)		779.5		(1,967.1)
Operating Income	$	231.3	$	28.0	$	251.9	$	15.4	$	33.6	$	0.5	$	560.7
Interest Expense	$	(68.2)	$	(21.5)	$	(42.2)	$	(9.2)	$	(100.6)	$	34.4	$	(207.3)
Impairment of Offshore Wind Investment	—		—		—		—		(401.0)		—		(401.0)
Other Income, Net	47.9		9.7		9.5		1.5		100.9		(74.6)		94.9
Net Income Attributable to Common Shareholders	165.5		11.7		161.0		9.3		(292.4)		(39.7)		15.4
	For the Six Months Ended June 30, 2023
Eversource (Millions of Dollars)	Electric Distribution		Natural Gas Distribution		Electric Transmission		Water Distribution		Other		Eliminations		Total
Operating Revenues	$	4,643.0	$	1,454.3	$	938.8	$	108.3	$	822.7	$	(1,542.1)	$	6,425.0
Depreciation and Amortization	60.0		(118.7)		(181.9)		(27.4)		(74.8)		4.3		(338.5)
Other Operating Expenses	(4,247.4)		(1,069.8)		(264.5)		(56.5)		(676.9)		1,538.8		(4,776.3)
Operating Income	$	455.6	$	265.8	$	492.4	$	24.4	$	71.0	$	1.0	$	1,310.2
Interest Expense	$	(137.6)	$	(42.7)	$	(83.7)	$	(18.6)	$	(185.7)	$	66.4	$	(401.9)
Impairment of Offshore Wind Investment	—		—		—		—		(401.0)		—		(401.0)
Other Income, Net	102.1		18.7		18.9		2.7		666.8		(625.3)		183.9
Net Income Attributable to Common Shareholders	331.0		181.9		316.1		10.8		224.7		(557.9)		506.6
Cash Flows Used for Investments in Plant	817.3		371.5		636.9		74.7		139.1		—		2,039.5

The following table summarizes Eversource's segmented total assets:

Eversource (Millions of Dollars)	Electric Distribution		Natural Gas Distribution		Electric Transmission		Water Distribution		Other		Eliminations		Total
As of June 30, 2024	$	30,943.9	$	9,036.6	$	15,417.3	$	3,018.6	$	28,662.1	$	(28,726.0)	$	58,352.5
As of December 31, 2023	29,426.4		8,775.3		14,806.5		2,944.8		26,337.7		(26,678.5)		55,612.2

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Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

XML

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

6 Months Ended

Jun. 30, 2024

Accounting Policies [Abstract]

Basis of Presentation

Basis of Presentation

Eversource Energy is a public utility holding company primarily engaged, through its wholly-owned regulated utility subsidiaries, in the energy delivery business.  Eversource Energy's wholly-owned regulated utility subsidiaries consist of CL&P, NSTAR Electric and PSNH (electric utilities), Yankee Gas, NSTAR Gas and EGMA (natural gas utilities), and Aquarion (water utilities). Eversource provides energy delivery and/or water service to approximately 4.4 million electric, natural gas and water customers through twelve regulated utilities in Connecticut, Massachusetts and New Hampshire.

The unaudited condensed consolidated financial statements of Eversource, NSTAR Electric and PSNH include the accounts of each of their respective subsidiaries.  Intercompany transactions have been eliminated in consolidation.  The accompanying unaudited condensed consolidated financial statements of Eversource, NSTAR Electric and PSNH and the unaudited condensed financial statements of CL&P are herein collectively referred to as the "financial statements."

The combined notes to the financial statements have been prepared pursuant to the rules and regulations of the SEC.  Certain information and footnote disclosures included in annual financial statements prepared in accordance with GAAP have been omitted pursuant to such rules and regulations.  The accompanying financial statements should be read in conjunction with the Combined Notes to Financial Statements included in Item 8, "Financial Statements and Supplementary Data," of the Eversource 2023 Form 10-K, which was filed with the SEC on February 14, 2024. The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.  Actual results could differ from those estimates.

The financial statements contain, in the opinion of management, all adjustments (including normal, recurring adjustments) necessary to present fairly Eversource's, CL&P's, NSTAR Electric's and PSNH's financial position as of June 30, 2024 and December 31, 2023, and the results of operations, comprehensive income and common shareholders' equity for the three and six months ended June 30, 2024 and 2023, and the cash flows for the six months ended June 30, 2024 and 2023. The results of operations and comprehensive income for the three and six months ended June 30, 2024 and 2023 and the cash flows for the six months ended June 30, 2024 and 2023 are not necessarily indicative of the results expected for a full year.

CYAPC and YAEC are inactive regional nuclear power companies engaged in the long-term storage of their spent nuclear fuel. Eversource consolidates the operations of CYAPC and YAEC because CL&P's, NSTAR Electric's and PSNH's combined ownership and voting interests in each of these entities is greater than 50 percent.  Intercompany transactions between CL&P, NSTAR Electric, PSNH and the CYAPC and YAEC companies have been eliminated in consolidation of the Eversource financial statements.

As of June 30, 2024, Eversource held several equity ownership interests that are not consolidated and are accounted for under the equity method, including 50 percent ownership interests in three offshore wind projects and a tax equity investment in one of the projects. See Note 1E, "Summary of Significant Accounting Policies – Investments in Unconsolidated Affiliates," for further information on Eversource’s equity method investments.

Eversource's utility subsidiaries' electric, natural gas and water distribution and transmission businesses are subject to rate-regulation that is based on cost recovery and meets the criteria for application of accounting guidance for entities with rate-regulated operations, which considers the effect of regulation on the differences in the timing of the recognition of certain revenues and expenses from those of other businesses and industries. See Note 2, "Regulatory Accounting," for further information.

Certain reclassifications of prior period data were made in the accompanying financial statements to conform to the current period presentation.

Allowance for Uncollectible Accounts

Allowance for Uncollectible Accounts

Receivables, Net on the balance sheets primarily includes trade receivables from retail customers and customers related to wholesale transmission contracts, wholesale market sales, sales of RECs, and property rentals. Receivables, Net also includes customer receivables for the purchase of electricity from a competitive third party supplier, the current portion of customer energy efficiency loans, property damage receivables and other miscellaneous receivables. There is no material concentration of receivables.

Receivables are recorded at amortized cost, net of a credit loss provision (or allowance for uncollectible accounts). The current expected credit loss (CECL) model is applied to receivables for purposes of calculating the allowance for uncollectible accounts. This model is based on expected losses and results in the recognition of estimated expected credit losses, including uncollectible amounts for both billed and unbilled revenues, over the life of the receivable at the time a receivable is recorded.

The allowance for uncollectible accounts is determined based upon a variety of judgments and factors, including an aging-based quantitative assessment that applies an estimated uncollectible percentage to each receivable aging category.  Factors in determining credit loss include historical collection, write-off experience, analysis of delinquency statistics, and management's assessment of collectability from customers, including current economic conditions, customer payment trends, the impact on customer bills because of energy usage trends and changes in rates, flexible payment plans and financial hardship arrearage management programs offered to customers, reasonable forecasts, and expectations of future collectability and collection efforts. Management continuously assesses the collectability of receivables and adjusts estimates based on actual experience and future expectations based on economic conditions, collection efforts and other factors.  Management also monitors the aging analysis of receivables to determine if there are changes in the collections of accounts receivable. Receivable balances are written off against the allowance for uncollectible accounts when the customer accounts are no longer in service and these balances are deemed to be uncollectible. Management concluded that the reserve balance as of June 30, 2024 adequately reflected the collection risk and net realizable value for its receivables.

The PURA allows CL&P and Yankee Gas to accelerate the recovery of accounts receivable balances attributable to qualified customers under financial or medical duress (uncollectible hardship accounts receivable) outstanding for greater than 180 days and 90 days, respectively.  The DPU allows NSTAR Electric, NSTAR Gas and EGMA to recover in rates amounts associated with certain uncollectible hardship accounts receivable. These uncollectible hardship customer account balances are included in Regulatory Assets or Other Long-Term Assets on the balance sheets. Hardship customers are protected from shut-off in certain circumstances, and historical collection experience has reflected a higher default risk as compared to the rest of the receivable population. Management uses a higher credit risk profile for this pool of trade receivables as compared to non-hardship receivables. The allowance for uncollectible hardship accounts is included in the total uncollectible allowance balance.

The total allowance for uncollectible accounts is included in Receivables, Net on the balance sheets.

Fair Value Measurements

Fair Value Measurements

Fair value measurement guidance is applied to derivative contracts that are not elected or designated as "normal purchases" or "normal sales" (normal) and to marketable securities held in trusts.  Fair value measurement guidance is also applied to valuations of the investments used to calculate the funded status of pension and PBOP plans, the nonrecurring fair value measurements of nonfinancial assets such as goodwill, long-lived assets, equity method investments, AROs, and in the valuation of business combinations and asset acquisitions. The fair value measurement guidance was also applied in estimating the fair value of preferred stock, long-term debt and RRBs.

Fair Value Hierarchy:  In measuring fair value, Eversource uses observable market data when available in order to minimize the use of unobservable inputs.  Inputs used in fair value measurements are categorized into three fair value hierarchy levels for disclosure purposes.  The entire fair value measurement is categorized based on the lowest level of input that is significant to the fair value measurement.  Eversource evaluates the classification of assets and liabilities measured at fair value on a quarterly basis. 

The levels of the fair value hierarchy are described below:

Level 1 - Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities as of the reporting date.  Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis.  

Level 2 - Inputs are quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-derived valuations in which all significant inputs are observable.

Level 3 - Quoted market prices are not available.  Fair value is derived from valuation techniques in which one or more significant inputs or assumptions are unobservable.  Where possible, valuation techniques incorporate observable market inputs that can be validated to external sources such as industry exchanges, including prices of energy and energy-related products.  

Uncategorized - Investments that are measured at net asset value are not categorized within the fair value hierarchy.

Other Taxes

Other TaxesEversource's companies that serve customers in Connecticut collect gross receipts taxes levied by the state of Connecticut from their customers. These gross receipts taxes are recorded separately with collections in Operating Revenues and with payments in Taxes Other Than Income Taxes on the statements of incomeAs agents for state and local governments, Eversource's companies that serve customers in Connecticut and Massachusetts collect certain sales taxes that are recorded on a net basis with no impact on the statements of income.

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Jun. 30, 2024

Accounting Policies [Abstract]

Schedule of Allowance for Uncollectible Accounts

The activity in the allowance for uncollectible accounts by portfolio segment as of June 30th is as follows:

	Eversource						CL&P						NSTAR Electric						PSNH
(Millions of Dollars)	Hardship Accounts		Retail (Non-Hardship), Wholesale, and Other		Total Allowance		Hardship Accounts		Retail (Non-Hardship), Wholesale, and Other		Total Allowance		Hardship Accounts		Retail (Non-Hardship), Wholesale, and Other		Total Allowance		Total Allowance
Three Months Ended 2024
Beginning Balance	$	379.4	$	190.7	$	570.1	$	271.8	$	36.0	$	307.8	$	41.8	$	55.9	$	97.7	$	13.8
Uncollectible Expense	—		9.9		9.9		—		2.8		2.8		—		5.9		5.9		1.0
Uncollectible Costs Deferred (1)	26.0		10.0		36.0		15.3		2.6		17.9		4.3		4.7		9.0		1.1
Write-Offs	(16.5)		(23.3)		(39.8)		(12.9)		(8.3)		(21.2)		(0.2)		(7.1)		(7.3)		(2.0)
Recoveries Collected	0.2		3.2		3.4		0.2		1.1		1.3		—		0.9		0.9		0.2
Ending Balance	$	389.1	$	190.5	$	579.6	$	274.4	$	34.2	$	308.6	$	45.9	$	60.3	$	106.2	$	14.1
Six Months Ended 2024
Beginning Balance	$	366.8	$	187.7	$	554.5	$	259.7	$	36.3	$	296.0	$	43.6	$	53.4	$	97.0	$	14.3
Uncollectible Expense	—		26.3		26.3		—		6.3		6.3		—		12.0		12.0		2.2
Uncollectible Costs Deferred (1)	53.5		21.4		74.9		38.1		5.3		43.4		3.5		9.1		12.6		2.4
Write-Offs	(31.7)		(51.8)		(83.5)		(23.8)		(16.0)		(39.8)		(1.2)		(16.3)		(17.5)		(5.2)
Recoveries Collected	0.5		6.9		7.4		0.4		2.3		2.7		—		2.1		2.1		0.4
Ending Balance	$	389.1	$	190.5	$	579.6	$	274.4	$	34.2	$	308.6	$	45.9	$	60.3	$	106.2	$	14.1

	Eversource						CL&P						NSTAR Electric						PSNH
(Millions of Dollars)	Hardship Accounts		Retail (Non-Hardship), Wholesale, and Other		Total Allowance		Hardship Accounts		Retail (Non-Hardship), Wholesale, and Other		Total Allowance		Hardship Accounts		Retail (Non-Hardship), Wholesale, and Other		Total Allowance		Total Allowance (2)
Three Months Ended 2023
Beginning Balance	$	318.7	$	216.4	$	535.1	$	216.2	$	37.2	$	253.4	$	42.0	$	52.6	$	94.6	$	33.5
Uncollectible Expense	—		1.4		1.4		—		0.9		0.9		—		3.1		3.1		(5.5)
Uncollectible Costs Deferred (1)	27.0		(5.5)		21.5		16.6		3.4		20.0		3.7		3.9		7.6		(13.5)
Write-Offs	(8.1)		(21.8)		(29.9)		(6.8)		(6.7)		(13.5)		(0.1)		(8.6)		(8.7)		(2.0)
Recoveries Collected	0.6		3.7		4.3		0.5		1.5		2.0		—		1.2		1.2		0.2
Ending Balance	$	338.2	$	194.2	$	532.4	$	226.5	$	36.3	$	262.8	$	45.6	$	52.2	$	97.8	$	12.7
Six Months Ended 2023
Beginning Balance	$	284.4	$	201.9	$	486.3	$	188.9	$	36.4	$	225.3	$	43.7	$	51.3	$	95.0	$	29.2
Uncollectible Expense	—		24.2		24.2		—		4.8		4.8		—		7.8		7.8		(0.5)
Uncollectible Costs Deferred (1)	70.8		8.7		79.5		50.9		6.1		57.0		2.4		9.3		11.7		(12.2)
Write-Offs	(17.8)		(48.0)		(65.8)		(14.1)		(13.7)		(27.8)		(0.5)		(18.9)		(19.4)		(4.2)
Recoveries Collected	0.8		7.4		8.2		0.8		2.7		3.5		—		2.7		2.7		0.4
Ending Balance	$	338.2	$	194.2	$	532.4	$	226.5	$	36.3	$	262.8	$	45.6	$	52.2	$	97.8	$	12.7

(1) These expected credit losses are deferred as regulatory costs on the balance sheets, as these amounts are ultimately recovered in rates. Amounts include uncollectible costs for hardship accounts and other customer receivables, including uncollectible amounts related to uncollectible energy supply costs and COVID-19. The increases in the allowance for uncollectible hardship accounts at Eversource and CL&P in both 2024 and 2023 primarily relate to increased customer enrollment in disconnection prevention programs in Connecticut.

(2) In connection with PSNH’s pole purchase agreement on May 1, 2023, the purchase price included the forgiveness of previously reserved receivables for reimbursement of operation and maintenance and vegetation management costs.

Schedule of Components of Other Income, Net

The components of Other Income, Net on the statements of income were as follows:

	For the Three Months Ended
	June 30, 2024								June 30, 2023
(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric		PSNH
Pension, SERP and PBOP Non-Service   Income Components, Net of Deferred Portion	$	30.0	$	7.2	$	13.3	$	3.7	$	33.3	$	8.4	$	14.1	$	3.9
AFUDC Equity	23.7		5.5		15.2		1.7		19.0		4.6		12.0		1.1
Equity in Earnings of Unconsolidated Affiliates (1)	23.2		—		0.2		—		5.0		—		0.1		—
Investment Income/(Loss)	1.1		(0.1)		0.5		—		(1.4)		(1.1)		0.3		(0.3)
Interest Income	37.1		10.4		19.2		2.4		21.4		1.5		14.4		1.2
Other (2)	0.2		—		—		—		17.6		—		—		0.4
Total Other Income, Net	$	115.3	$	23.0	$	48.4	$	7.8	$	94.9	$	13.4	$	40.9	$	6.3
	For the Six Months Ended
	June 30, 2024								June 30, 2023
(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric		PSNH
Pension, SERP and PBOP Non-Service    Income Components, Net of Deferred Portion	$	57.8	$	13.7	$	25.6	$	7.3	$	68.1	$	17.9	$	28.8	$	8.1
AFUDC Equity	50.5		11.5		31.4		3.6		34.5		8.7		21.5		1.8
Equity in Earnings of Unconsolidated Affiliates (1)	31.0		—		0.4		—		8.8		—		0.2		—
Investment Income/(Loss)	0.3		(0.9)		0.9		(0.2)		(3.1)		(1.7)		(0.2)		(0.4)
Interest Income	67.1		15.1		37.2		4.1		44.5		3.4		30.4		2.1
Other (2)	(0.4)		—		—		—		31.1		—		0.1		0.4
Total Other Income, Net	$	206.3	$	39.4	$	95.5	$	14.8	$	183.9	$	28.3	$	80.8	$	12.0

(1)    Equity in Earnings of Unconsolidated Affiliates includes $23.4 million of pre-tax income recorded at Eversource in the second quarter of 2024 from Eversource’s wind equity method investment, North East Offshore, as a result of a vendor settlement agreement payment received by the joint venture. This settlement payment reduced the required capital contributions to be made by Eversource to North East Offshore during the second quarter of 2024.

(2)    Eversource’s equity method investment in a renewable energy fund was liquidated in March 2023. Liquidation proceeds in excess of the carrying value were recorded in both the first and second quarters of 2023 within Other in the tables above. See Note 1E, "Summary of Significant Accounting Policies - Investments in Unconsolidated Affiliates," for further information.

Schedule of Investments in Unconsolidated Affiliates

Eversource's investments included the following:

				Investment Balance
(Millions of Dollars)	Ownership Interest			As of June 30, 2024		As of December 31, 2023
Offshore Wind Business	50%	-	100%	$	806.1	$	515.5
Natural Gas Pipeline - Algonquin Gas Transmission, LLC	15%			113.2		116.0
Other	various			29.7		29.0
Total Investments in Unconsolidated Affiliates				$	949.0	$	660.5

Schedule of Other Taxes

These gross receipts taxes are recorded separately with collections in Operating Revenues and with payments in Taxes Other Than Income Taxes on the statements of income as follows:

	For the Three Months Ended				For the Six Months Ended
(Millions of Dollars)	June 30, 2024		June 30, 2023		June 30, 2024		June 30, 2023
Eversource	$	44.6	$	44.7	$	97.9	$	99.7
CL&P	39.7		38.9		83.6		82.0

Schedule of Non-cash Investing Activities

Non-cash investing activities include plant additions included in Accounts Payable as follows:

(Millions of Dollars)	As of June 30, 2024		As of June 30, 2023
Eversource	$	477.9	$	457.5
CL&P	89.2		104.8
NSTAR Electric	142.2		113.4
PSNH	86.5		59.6

Reconciliation of Cash Balances to Cash and Restricted Cash

The following table reconciles cash as reported on the balance sheets to the cash and restricted cash balance as reported on the statements of cash flows:

	As of June 30, 2024								As of December 31, 2023
(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric		PSNH
Cash as reported on the Balance Sheets	$	33.4	$	—	$	2.7	$	0.3	$	53.9	$	10.2	$	6.7	$	0.2
Restricted cash included in:
Special Deposits	66.4		1.1		1.4		30.6		81.5		2.0		16.1		31.6
Marketable Securities	16.3		—		—		—		13.7		—		—		—
Other Long-Term Assets	16.5		—		—		3.2		17.3		—		—		3.2
Cash and Restricted Cash as reported on the Statements of Cash Flows	$	132.6	$	1.1	$	4.1	$	34.1	$	166.4	$	12.2	$	22.8	$	35.0

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REGULATORY ACCOUNTING (Tables)

6 Months Ended

Jun. 30, 2024

Regulated Operations [Abstract]

Components of Regulatory Assets

The components of regulatory assets were as follows:

	As of June 30, 2024								As of December 31, 2023
(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric		PSNH
Storm Costs, Net	$	2,074.8	$	976.8	$	652.1	$	445.9	$	1,785.9	$	896.6	$	609.1	$	280.2
Regulatory Tracking Mechanisms	1,722.0		743.7		549.6		174.3		1,319.2		354.5		482.9		182.2
Benefit Costs	1,116.5		201.6		320.3		81.0		1,117.3		197.4		336.7		79.3
Income Taxes, Net	936.1		522.4		138.2		14.8		912.4		512.6		128.6		16.4
Securitized Stranded Costs	370.9		—		—		370.9		392.5		—		—		392.5
Goodwill-related	255.7		—		219.5		—		264.1		—		226.7		—
Asset Retirement Obligations	144.0		39.8		75.3		4.9		137.9		38.5		72.3		4.7
Derivative Liabilities	87.4		87.4		—		—		120.9		120.9		—		—
Other Regulatory Assets	360.3		21.0		107.9		5.8		339.0		22.7		101.6		8.0
Total Regulatory Assets	7,067.7		2,592.7		2,062.9		1,097.6		6,389.2		2,143.2		1,957.9		963.3
Less:  Current Portion	2,071.7		860.8		757.4		175.0		1,674.2		480.4		676.1		189.5
Total Long-Term Regulatory Assets	$	4,996.0	$	1,731.9	$	1,305.5	$	922.6	$	4,715.0	$	1,662.8	$	1,281.8	$	773.8

Components of Regulatory Liabilities

The components of regulatory liabilities were as follows:

	As of June 30, 2024								As of December 31, 2023
(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric		PSNH
EDIT due to Tax Cuts and Jobs Act of 2017	$	2,526.7	$	963.9	$	894.0	$	335.7	$	2,548.6	$	969.2	$	905.1	$	339.3
Regulatory Tracking Mechanisms	722.7		183.2		393.3		72.6		668.3		154.0		347.2		114.4
Cost of Removal	717.4		182.1		442.2		18.4		666.6		157.9		420.9		16.2
Deferred Portion of Non-Service Income    Components of Pension, SERP and PBOP	391.5		56.0		194.0		39.7		354.0		49.9		175.9		36.6
AFUDC - Transmission	142.4		61.0		81.4		—		124.3		56.1		68.2		—
Benefit Costs	40.4		0.5		14.7		—		51.0		0.6		22.2		—
Other Regulatory Liabilities	204.0		38.5		13.5		4.9		201.9		30.4		13.9		4.6
Total Regulatory Liabilities	4,745.1		1,485.2		2,033.1		471.3		4,614.7		1,418.1		1,953.4		511.1
Less:  Current Portion	652.3		133.3		413.5		79.1		591.8		102.2		368.1		117.5
Total Long-Term Regulatory Liabilities	$	4,092.8	$	1,351.9	$	1,619.6	$	392.2	$	4,022.9	$	1,315.9	$	1,585.3	$	393.6

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PROPERTY, PLANT AND EQUIPMENT AND ACCUMULATED DEPRECIATION (Tables)

6 Months Ended

Jun. 30, 2024

Property, Plant and Equipment [Abstract]

Summary of Property, Plant, and Equipment

The following tables summarize property, plant and equipment by asset category:

Eversource	As of June 30, 2024		As of December 31, 2023
(Millions of Dollars)
Distribution - Electric	$	20,467.3	$	19,656.5
Distribution - Natural Gas	8,358.9		8,155.3
Transmission - Electric	15,589.6		14,666.8
Distribution - Water	2,313.5		2,280.1
Solar	201.1		201.1
Utility	46,930.4		44,959.8
Other (1)	2,193.6		2,006.8
Property, Plant and Equipment, Gross	49,124.0		46,966.6
Less:  Accumulated Depreciation
Utility	(10,110.4)		(9,670.1)
Other	(964.4)		(869.6)
Total Accumulated Depreciation	(11,074.8)		(10,539.7)
Property, Plant and Equipment, Net	38,049.2		36,426.9
Construction Work in Progress	3,077.0		3,071.7
Total Property, Plant and Equipment, Net	$	41,126.2	$	39,498.6

	As of June 30, 2024						As of December 31, 2023
(Millions of Dollars)	CL&P		NSTAR Electric		PSNH		CL&P		NSTAR Electric		PSNH
Distribution - Electric	$	8,270.0	$	9,378.4	$	2,859.1	$	7,897.1	$	9,000.5	$	2,799.2
Transmission - Electric	6,790.7		6,146.5		2,654.1		6,548.2		5,630.8		2,489.5
Solar	—		201.1		—		—		201.1		—
Property, Plant and Equipment, Gross	15,060.7		15,726.0		5,513.2		14,445.3		14,832.4		5,288.7
Less:  Accumulated Depreciation	(2,884.4)		(3,706.6)		(1,016.5)		(2,670.5)		(3,585.9)		(984.0)
Property, Plant and Equipment, Net	12,176.3		12,019.4		4,496.7		11,774.8		11,246.5		4,304.7
Construction Work in Progress	512.3		1,303.5		336.7		565.4		1,507.3		270.0
Total Property, Plant and Equipment, Net	$	12,688.6	$	13,322.9	$	4,833.4	$	12,340.2	$	12,753.8	$	4,574.7

(1)    These assets are primarily comprised of computer software, hardware and equipment at Eversource Service and buildings at The Rocky River Realty Company.

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DERIVATIVE INSTRUMENTS (Tables)

6 Months Ended

Jun. 30, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Gross Fair Values and Net Amounts of Contracts

The following table presents the gross fair values of contracts, categorized by risk type, and the net amounts recorded as current or long-term derivative assets or liabilities:

		As of June 30, 2024						As of December 31, 2023
CL&P (Millions of Dollars)	Fair Value Hierarchy	Commodity Supply and Price Risk Management		Netting (1)		Net Amount Recorded as a Derivative		Commodity Supply and Price Risk Management		Netting (1)		Net Amount Recorded as a Derivative
Current Derivative Assets	Level 2	$	15.5	$	(0.4)	$	15.1	$	16.4	$	(0.5)	$	15.9
Long-Term Derivative Assets	Level 2	6.2		(0.2)		6.0		13.6		(0.5)		13.1
Current Derivative Liabilities	Level 2	(77.4)		—		(77.4)		(81.9)		—		(81.9)
Long-Term Derivative Liabilities	Level 2	(31.1)		—		(31.1)		(68.0)		—		(68.0)

    

(1)    Amounts represent derivative assets and liabilities that Eversource elected to record net on the balance sheets.  These amounts are subject to master netting agreements or similar agreements for which the right of offset exists.

Changes in the Level 3 Category of Derivative Assets Measured at Fair Value on a Recurring Basis

The following table presents changes in the Level 3 category of derivative assets and derivative liabilities measured at fair value on a recurring basis.  The derivative assets and liabilities are presented on a net basis.

CL&P	For the Three Months Ended June 30, 2023		For the Six Months Ended June 30, 2023
(Millions of Dollars)
Derivatives, Net:
Fair Value as of Beginning of Period	$	(168.8)	$	(181.8)
Net Realized/Unrealized Gains/(Losses) Included in Regulatory Assets	1.8		(0.1)
Settlements	14.9		29.8
Fair Value as of End of Period	$	(152.1)	$	(152.1)

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MARKETABLE SECURITIES (Tables)

6 Months Ended

Jun. 30, 2024

Investments, Debt and Equity Securities [Abstract]

Summary of Available-for-Sale Debt Securities

The following is a summary of available-for-sale debt securities, which are held in CYAPC’s and YAEC’s spent nuclear fuel trusts:

	As of June 30, 2024								As of December 31, 2023
Eversource (Millions of Dollars)	Amortized Cost		Pre-Tax Unrealized Gains		Pre-Tax Unrealized Losses		Fair Value		Amortized Cost		Pre-Tax Unrealized Gains		Pre-Tax Unrealized Losses		Fair Value
Debt Securities	$	172.8	$	0.2	$	(10.0)	$	163.0	$	169.5	$	1.4	$	(6.6)	$	164.3

Contractual Maturities of Available-for-Sale Debt Securities

As of June 30, 2024, the contractual maturities of available-for-sale debt securities were as follows:

 

Eversource (Millions of Dollars)	Amortized Cost		Fair Value
Less than one year	$	17.8	$	17.7
One to five years	30.9		30.3
Six to ten years	43.9		42.5
Greater than ten years	80.2		72.5
Total Debt Securities	$	172.8	$	163.0

Marketable Securities Recorded at Fair Value on a Recurring Basis by Level

The following table presents the marketable securities recorded at fair value on a recurring basis by the level in which they are classified within the fair value hierarchy:

Eversource (Millions of Dollars)	As of June 30, 2024		As of December 31, 2023
Level 1:
Mutual Funds and Equities	$	172.6	$	176.9
Money Market Funds	16.3		13.7
Total Level 1	$	188.9	$	190.6
Level 2:
U.S. Government Issued Debt Securities (Agency and Treasury)	$	87.6	$	90.1
Corporate Debt Securities	33.5		34.0
Asset-Backed Debt Securities	8.3		5.6
Municipal Bonds	7.0		9.8
Other Fixed Income Securities	10.3		11.1
Total Level 2	$	146.7	$	150.6
Total Marketable Securities	$	335.6	$	341.2

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SHORT-TERM AND LONG-TERM DEBT (Tables)

6 Months Ended

Jun. 30, 2024

Debt Disclosure [Abstract]

Borrowings Outstanding and Available under the Commercial Paper Programs

The amount of borrowings outstanding and available under the commercial paper programs were as follows:

	Borrowings Outstanding as of				Available Borrowing Capacity as of				Weighted-Average Interest Rate as of
	June 30, 2024		December 31, 2023		June 30, 2024		December 31, 2023		June 30, 2024		December 31, 2023
(Millions of Dollars)
Eversource Parent Commercial Paper Program	$	1,203.0	$	1,771.9	$	797.0	$	228.1	5.67	%	5.60	%
NSTAR Electric Commercial Paper Program	236.5		365.8		413.5		284.2		5.37	%	5.40	%

Summary of Long-Term Debt Issuance and Repayments

The following table summarizes long-term debt issuances and repayments:

(Millions of Dollars)	Interest Rate		Issuance/(Repayment)		Issue Date or Repayment Date	Maturity Date	Use of Proceeds for Issuance/ Repayment Information
CL&P 2024 Series A First Mortgage Bonds	4.65	%	$	350.0	January 2024	January 2029	Repaid short-term debt, paid capital expenditures and working capital
NSTAR Electric 2024 Debentures	5.40	%	600.0		May 2024	June 2034	Repaid short-term debt, paid capital expenditures and working capital
PSNH Series X First Mortgage Bonds	5.35	%	300.0		April 2024	October 2033	Repaid short-term debt, paid capital expenditures and working capital
Eversource Parent Series DD Senior Notes	5.00	%	350.0		January 2024	January 2027	Repaid short-term debt
Eversource Parent Series EE Senior Notes	5.50	%	650.0		January 2024	January 2034	Repaid short-term debt
Eversource Parent Series FF Senior Notes	5.85	%	700.0		April 2024	April 2031	Repay Series X Senior Notes and Aquarion’s 2014 Senior Notes at maturity and short-term debt
Eversource Parent Series GG Senior Notes	5.95	%	700.0		April 2024	July 2034	Repay Series X Senior Notes and Aquarion’s 2014 Senior Notes at maturity and short-term debt
Eversource Parent Series X Senior Notes	4.20	%	(900.0)		June 2024	June 2024	Paid at maturity
NSTAR Gas Series W First Mortgage Bonds	5.29	%	160.0		June 2024	June 2029	Repaid short-term debt, paid capital expenditures and general corporate purchases
NSTAR Gas Series X First Mortgage Bonds	5.48	%	40.0		June 2024	June 2034	Repaid short-term debt, paid capital expenditures and general corporate purchases
Yankee Gas Series W First Mortgage Bonds	5.50	%	90.0		July 2024	July 2029	Repaid short-term debt, paid capital expenditures, working capital and repay Series P bonds at maturity
Yankee Gas Series X First Mortgage Bonds	5.74	%	90.0		July 2024	July 2034	Repaid short-term debt, paid capital expenditures, working capital and repay Series P bonds at maturity

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RATE REDUCTION BONDS AND VARIABLE INTEREST ENTITIES (Tables)

6 Months Ended

Jun. 30, 2024

Rate Reduction Bonds and Variable Interest Entity [Abstract]

Summary of the Impact of Funding on the Balance Sheets and Income Statements

The following tables summarize the impact of PSNH Funding on PSNH's balance sheets and income statements:

(Millions of Dollars)
PSNH Balance Sheets:	As of June 30, 2024		As of December 31, 2023
Restricted Cash - Current Portion (included in Special Deposits)	$	29.0	$	30.0
Restricted Cash - Long-Term Portion (included in Other Long-Term Assets)	3.2		3.2
Securitized Stranded Cost (included in Regulatory Assets)	370.9		392.5
Other Regulatory Liabilities (included in Regulatory Liabilities)	4.7		5.3
Accrued Interest (included in Other Current Liabilities)	6.1		6.3
Rate Reduction Bonds - Current Portion	43.2		43.2
Rate Reduction Bonds - Long-Term Portion	345.7		367.3

(Millions of Dollars) PSNH Income Statements:	For the Three Months Ended				For the Six Months Ended
	June 30, 2024		June 30, 2023		June 30, 2024		June 30, 2023
Amortization of RRB Principal (included in Amortization of Regulatory Assets/(Liabilities), Net)	$	10.8	$	10.8	$	21.6	$	21.6
Interest Expense on RRB Principal (included in Interest Expense)	3.6		3.9		7.3		8.0

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PENSION BENEFITS AND POSTRETIREMENT BENEFITS OTHER THAN PENSION (Tables)

6 Months Ended

Jun. 30, 2024

Postemployment Benefits [Abstract]

Components of Net Periodic Benefit Expense/(Income)

Pension, SERP and PBOP expense reflected in the statements of cash flows for CL&P, NSTAR Electric and PSNH does not include intercompany allocations of net periodic benefit plan expense/(income), as these amounts are cash settled on a short-term basis.

	Pension and SERP								PBOP
	For the Three Months Ended June 30, 2024								For the Three Months Ended June 30, 2024
(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric		PSNH
Service Cost	$	11.2	$	3.3	$	1.9	$	1.1	$	1.8	$	0.3	$	0.3	$	0.2
Interest Cost	62.7		12.7		12.8		6.7		8.0		1.4		2.2		0.8
Expected Return on Plan Assets	(115.7)		(23.5)		(28.0)		(12.2)		(20.3)		(2.3)		(9.9)		(1.4)
Actuarial Loss/(Gain)	22.1		3.2		6.4		1.3		(0.1)		—		—		—
Prior Service Cost/(Credit)	0.3		—		0.1		—		(5.4)		0.2		(4.3)		0.1
Total Net Periodic Benefit Plan Income	$	(19.4)	$	(4.3)	$	(6.8)	$	(3.1)	$	(16.0)	$	(0.4)	$	(11.7)	$	(0.3)
Intercompany Income Allocations	N/A		$	(0.6)	$	(0.6)	$	(0.2)	N/A		$	(0.5)	$	(0.6)	$	(0.2)
	Pension and SERP								PBOP
	For the Six Months Ended June 30, 2024								For the Six Months Ended June 30, 2024
(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric		PSNH
Service Cost	$	22.0	$	6.2	$	4.0	$	2.1	$	3.5	$	0.6	$	0.6	$	0.3
Interest Cost	124.7		25.1		25.9		13.4		16.0		2.8		4.4		1.7
Expected Return on Plan Assets	(231.3)		(46.8)		(56.3)		(24.4)		(40.7)		(4.7)		(19.8)		(2.8)
Actuarial Loss/(Gain)	41.9		5.7		12.8		2.4		(0.2)		—		—		—
Prior Service Cost/(Credit)	0.6		—		0.2		—		(10.8)		0.5		(8.5)		0.2
Settlement Loss	4.3		—		—		—		—		—		—		—
Total Net Periodic Benefit Plan Income	$	(37.8)	$	(9.8)	$	(13.4)	$	(6.5)	$	(32.2)	$	(0.8)	$	(23.3)	$	(0.6)
Intercompany Income Allocations	N/A		$	(0.3)	$	(0.2)	$	(0.1)	N/A		$	(1.1)	$	(1.3)	$	(0.4)
	Pension and SERP								PBOP
	For the Three Months Ended June 30, 2023								For the Three Months Ended June 30, 2023
(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric		PSNH
Service Cost	$	10.7	$	3.1	$	1.9	$	1.1	$	2.0	$	0.3	$	0.3	$	0.2
Interest Cost	63.5		12.7		13.5		6.8		8.4		1.5		2.3		0.9
Expected Return on Plan Assets	(116.5)		(23.7)		(28.5)		(12.5)		(19.5)		(2.3)		(9.3)		(1.4)
Actuarial Loss	11.6		0.6		4.0		0.4		—		—		—		—
Prior Service Cost/(Credit)	0.3		—		0.1		—		(5.4)		0.3		(4.3)		0.1
Settlement Loss	3.7		—		—		—		—		—		—		—
Total Net Periodic Benefit Plan Income	$	(26.7)	$	(7.3)	$	(9.0)	$	(4.2)	$	(14.5)	$	(0.2)	$	(11.0)	$	(0.2)
Intercompany Income Allocations	N/A		$	(0.6)	$	(0.4)	$	(0.1)	N/A		$	(0.4)	$	(0.5)	$	(0.1)

	Pension and SERP								PBOP
	For the Six Months Ended June 30, 2023								For the Six Months Ended June 30, 2023
(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric		PSNH
Service Cost	$	21.7	$	6.1	$	4.0	$	2.2	$	3.8	$	0.6	$	0.6	$	0.4
Interest Cost	127.2		25.3		27.0		13.6		16.9		3.1		4.6		1.8
Expected Return on Plan Assets	(232.4)		(47.1)		(56.9)		(24.8)		(38.6)		(4.7)		(18.5)		(2.8)
Actuarial Loss	24.1		1.4		8.9		0.8		—		—		—		—
Prior Service Cost/(Credit)	0.6		—		0.2		—		(10.8)		0.6		(8.5)		0.2
Settlement Loss	3.7		—		—		—		—		—		—		—
Total Net Periodic Benefit Plan Income	$	(55.1)	$	(14.3)	$	(16.8)	$	(8.2)	$	(28.7)	$	(0.4)	$	(21.8)	$	(0.4)
Intercompany Income Allocations	N/A		$	(2.6)	$	(2.1)	$	(0.6)	N/A		$	(0.9)	$	(1.1)	$	(0.3)

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COMMITMENTS AND CONTINGENCIES (Tables)

6 Months Ended

Jun. 30, 2024

Commitments and Contingencies Disclosure [Abstract]

Schedule of Environmental Loss Contingencies by Site

The number of environmental sites and related reserves for which remediation or long-term monitoring, preliminary site work or site assessment is being performed are as follows:

	As of June 30, 2024			As of December 31, 2023
	Number of Sites	Reserve (in millions)		Number of Sites	Reserve (in millions)
Eversource	66	$	127.1	65	$	128.2
CL&P	16	13.4		16	13.8
NSTAR Electric	13	5.9		12	5.4
PSNH	8	6.5		8	7.6

Schedule of Estimated Future Annual Costs of Long term Contractual Agreement

The table now includes the long-term commitments of CL&P pertaining to renewable energy purchase contracts that have now commenced significant construction activities.

CL&P
(Millions of Dollars)	2024		2025		2026		2027		2028		Thereafter		Total
Renewable Energy	$	338.1	$	651.3	$	728.7	$	732.3	$	734.5	$	3,798.2	$	6,983.1

Summary of Exposure to Guarantees and Indemnifications

The following table summarizes Eversource parent's exposure to guarantees and indemnifications of its subsidiaries and affiliates to external parties, and primarily relates to its offshore wind business:  

As of June 30, 2024
Company (Obligor)	Description	Maximum Exposure (in millions)
North East Offshore, LLC, Sunrise Wind LLC, Revolution Wind, LLC and South Fork Wind, LLC	Offshore wind construction-related purchase agreements with third-party contractors (1) (7)	$	1,418.1
Eversource Investment LLC and South Fork Class B Member, LLC	Funding and indemnification obligations of South Fork Wind and North East Offshore, LLC (2)	333.9
Eversource Investment LLC	Letters of Credit (3) (7)	23.2
Eversource TEI LLC	South Fork Wind Tax Equity (4)	50.0
South Fork Wind, LLC	Power Purchase Agreement Security (5)	7.1
Various Eversource subsidiaries	Surety bonds (6)	35.1

(1)    Eversource parent issued guarantees on behalf of its 50 percent-owned affiliates, North East Offshore, LLC (NEO), Sunrise Wind LLC, Revolution Wind, LLC and South Fork Wind, LLC, under which Eversource parent agreed to guarantee each entity’s performance of obligations under certain construction-related purchase agreements with third-party contractors, in an aggregate amount not to exceed $2.83 billion. Eversource parent’s obligations under the guarantees expire upon the earlier of (i) dates ranging between October 2024 and October 2028 and (ii) full performance of the guaranteed obligations. Eversource parent also issued a separate guarantee to Ørsted on behalf of NEO, under which Eversource parent agreed to guarantee 50 percent of NEO’s payment obligations under certain offshore wind project construction-related agreements with Ørsted in an aggregate amount not to exceed $62.5 million and expiring upon full performance of the guaranteed obligation.

(2)     Eversource parent issued guarantees on behalf of its wholly-owned subsidiary Eversource Investment LLC (EI), which holds Eversource's investments in offshore wind-related equity method investments, and on behalf of its 50 percent-owned affiliate, South Fork Class B Member, LLC, whereby Eversource parent will guarantee each entity’s performance of certain capital expenditure funding obligations during the construction phases of the South Fork Wind project and NEO’s underlying offshore wind projects. Eversource parent also guaranteed certain indemnification obligations of EI associated with third party credit support for EI’s investment in NEO. These guarantees will not exceed $1.52 billion and expire upon the full performance of the guaranteed obligations.

(3)    Eversource parent entered into a guarantee on behalf of EI, under which Eversource parent would guarantee EI's obligations under a letter of credit facility with a financial institution that EI may request in an aggregate amount of up to approximately $25 million. As of June 30, 2024, EI has issued letters of credit on behalf of South Fork Wind, LLC, Sunrise Wind LLC and Revolution Wind, LLC totaling $23.2 million. The guarantee will remain in effect until full performance of the guaranteed obligations.

(4)    Eversource parent issued a guarantee on behalf of its wholly-owned subsidiary, Eversource TEI LLC, whereby Eversource parent will guarantee Eversource TEI LLC’s performance of certain obligations, in an amount not to exceed $50.0 million, in connection with any remaining obligations under the LLC agreement. Eversource parent’s obligations expire upon the full performance of the guaranteed obligations.

(5)    Eversource parent issued a guarantee on behalf of its 50 percent-owned affiliate, South Fork Wind, LLC, whereby Eversource parent will guarantee South Fork Wind, LLC's performance of certain obligations, in an amount not to exceed $7.1 million, under a Power Purchase Agreement between the Long Island Power Authority and South Fork Wind, LLC (the Agreement). The guarantee expires upon the later of (i) the end of the Agreement term and (ii) full performance of the guaranteed obligations.

(6)    Surety bonds expire in 2024 and 2025. Expiration dates reflect termination dates, the majority of which will be renewed or extended.  Certain surety bonds contain credit ratings triggers that would require Eversource parent to post collateral in the event that the unsecured debt credit ratings of Eversource parent are downgraded.

(7)    On July 9, 2024, Eversource completed the sale to Ørsted of its 50 percent ownership interest in Sunrise Wind. In connection with the sale, (i) existing Eversource parent guarantees on behalf of Sunrise Wind of obligations under certain construction-related purchase agreements with third-party contractors with a maximum exposure of $557.2 million, and (ii) $17.8 million of letters of credit under a letter of credit facility with a financial institution on behalf of Sunrise Wind, all reflected in the table above as of June 30, 2024, were terminated.

In addition, an existing guarantee agreement on behalf of NEO, that also included Sunrise Wind, with a maximum exposure of $1.2 billion ($598.6 million of which is reflected in the above table as of June 30, 2024) was terminated. Concurrent with the termination of that guarantee agreement, Eversource parent entered into a new guarantee agreement on behalf of TurbineCo, LLC (successor in interest to NEO), that also includes Sunrise Wind, with a maximum exposure of $523.8 million. However, Ørsted has agreed to indemnify Eversource parent for all claims under that new guarantee agreement related to the performance of Sunrise Wind.

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FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Carrying Amounts and Estimated Fair Values of Financial Instruments

Carrying amounts and estimated fair values are as follows:

	Eversource				CL&P				NSTAR Electric				PSNH
(Millions of Dollars)	Carrying Amount		Fair Value		Carrying Amount		Fair Value		Carrying Amount		Fair Value		Carrying Amount		Fair Value
As of June 30, 2024:
Preferred Stock Not Subject to Mandatory Redemption	$	155.6	$	121.8	$	116.2	$	89.6	$	43.0	$	32.2	$	—	$	—
Long-Term Debt	27,164.3		25,027.7		4,954.1		4,537.7		5,093.0		4,723.9		1,731.5		1,527.2
Rate Reduction Bonds	388.9		368.8		—		—		—		—		388.9		368.8
As of December 31, 2023:
Preferred Stock Not Subject to Mandatory Redemption	$	155.6	$	122.2	$	116.2	$	90.4	$	43.0	$	31.8	$	—	$	—
Long-Term Debt	24,413.5		22,855.2		4,814.4		4,572.0		4,496.9		4,273.7		1,431.6		1,292.6
Rate Reduction Bonds	410.5		395.0		—		—		—		—		410.5		395.0

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ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS) (Tables)

6 Months Ended

Jun. 30, 2024

Equity [Abstract]

Changes in Accumulated Other Comprehensive Income/(Loss) by Component, Net of Tax

The changes in accumulated other comprehensive income/(loss) by component, net of tax, are as follows:

	For the Six Months Ended June 30, 2024						For the Six Months Ended June 30, 2023
Eversource (Millions of Dollars)	Qualified Cash Flow Hedging Instruments		Defined Benefit Plans		Total		Qualified Cash Flow Hedging Instruments		Unrealized Gains/(Losses) on Marketable Securities		Defined Benefit Plans		Total
Balance as of Beginning of Period	$	(0.4)	$	(33.3)	$	(33.7)	$	(0.4)	$	(1.2)	$	(37.8)	$	(39.4)
OCI Before Reclassifications	—		(0.9)		(0.9)		—		—		0.1		0.1
Amounts Reclassified from AOCI	—		5.0		5.0		—		1.2		6.0		7.2
Net OCI	—		4.1		4.1		—		1.2		6.1		7.3
Balance as of End of Period	$	(0.4)	$	(29.2)	$	(29.6)	$	(0.4)	$	—	$	(31.7)	$	(32.1)

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COMMON SHARES (Tables)

6 Months Ended

Jun. 30, 2024

Equity [Abstract]

Summary of Common Shares Authorized and Issued

The following table sets forth the Eversource parent common shares and the shares of common stock of CL&P, NSTAR Electric and PSNH that were authorized and issued, as well as the respective per share par values:  

	Shares
			Authorized as of June 30, 2024 and December 31, 2023	Issued as of
	Par Value			June 30, 2024	December 31, 2023
Eversource	$	5	410,000,000	364,190,722	359,984,073
CL&P	$	10	24,500,000	6,035,205	6,035,205
NSTAR Electric	$	1	100,000,000	200	200
PSNH	$	1	100,000,000	301	301

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EARNINGS PER SHARE (Tables)

6 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

Components of Basic and Diluted EPS

The following table sets forth the components of basic and diluted EPS:

Eversource (Millions of Dollars, except share information)	For the Three Months Ended				For the Six Months Ended
	June 30, 2024		June 30, 2023		June 30, 2024		June 30, 2023
Net Income Attributable to Common Shareholders	$	335.3	$	15.4	$	857.2	$	506.6
Weighted Average Common Shares Outstanding:
Basic	353,212,378		349,462,359		351,964,747		349,339,752
Dilutive Effect	207,280		267,623		243,693		331,244
Diluted	353,419,658		349,729,982		352,208,440		349,670,996
Basic EPS	$	0.95	$	0.04	$	2.44	$	1.45
Diluted EPS	$	0.95	$	0.04	$	2.43	$	1.45

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REVENUES (Tables)

6 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

Operating Revenues Disaggregated by Revenue Source

The following tables present operating revenues disaggregated by revenue source:

	For the Three Months Ended June 30, 2024
Eversource (Millions of Dollars)	Electric Distribution		Natural Gas Distribution		Electric Transmission		Water Distribution		Other		Eliminations		Total
Revenues from Contracts with Customers
Retail Tariff Sales
Residential	$	1,027.5	$	204.1	$	—	$	37.8	$	—	$	—	$	1,269.4
Commercial	683.2		116.4		—		18.2		—		(1.5)		816.3
Industrial	89.9		35.6		—		1.1		—		(6.0)		120.6
Total Retail Tariff Sales Revenues	1,800.6		356.1		—		57.1		—		(7.5)		2,206.3
Wholesale Transmission Revenues	—		—		512.9		—		—		(396.1)		116.8
Wholesale Market Sales Revenues	132.0		35.0		—		1.0		—		—		168.0
Other Revenues from Contracts with Customers	16.1		1.5		3.6		1.5		395.2		(393.7)		24.2
Total Revenues from Contracts with Customers	1,948.7		392.6		516.5		59.6		395.2		(797.3)		2,515.3
Alternative Revenue Programs	14.0		0.2		17.5		(2.4)		—		(15.8)		13.5
Other Revenues	3.6		0.7		0.1		0.3		—		—		4.7
Total Operating Revenues	$	1,966.3	$	393.5	$	534.1	$	57.5	$	395.2	$	(813.1)	$	2,533.5
	For the Six Months Ended June 30, 2024
Eversource (Millions of Dollars)	Electric Distribution		Natural Gas Distribution		Electric Transmission		Water Distribution		Other		Eliminations		Total
Revenues from Contracts with Customers
Retail Tariff Sales
Residential	$	2,281.6	$	711.7	$	—	$	68.0	$	—	$	—	$	3,061.3
Commercial	1,390.7		363.4		—		34.4		—		(3.2)		1,785.3
Industrial	177.6		95.4		—		2.2		—		(11.1)		264.1
Total Retail Tariff Sales Revenues	3,849.9		1,170.5		—		104.6		—		(14.3)		5,110.7
Wholesale Transmission Revenues	—		—		987.0		—		—		(757.7)		229.3
Wholesale Market Sales Revenues	297.3		93.3		—		1.9		—		—		392.5
Other Revenues from Contracts with Customers	44.5		2.6		7.6		1.3		838.8		(835.2)		59.6
Total Revenues from Contracts with Customers	4,191.7		1,266.4		994.6		107.8		838.8		(1,607.2)		5,792.1
Alternative Revenue Programs	27.3		31.6		47.0		(0.7)		—		(42.6)		62.6
Other Revenues	9.0		1.5		0.3		0.6		—		—		11.4
Total Operating Revenues	$	4,228.0	$	1,299.5	$	1,041.9	$	107.7	$	838.8	$	(1,649.8)	$	5,866.1

	For the Three Months Ended June 30, 2023
Eversource (Millions of Dollars)	Electric Distribution		Natural Gas Distribution		Electric Transmission		Water Distribution		Other		Eliminations		Total
Revenues from Contracts with Customers
Retail Tariff Sales
Residential	$	1,142.2	$	198.4	$	—	$	38.9	$	—	$	—	$	1,379.5
Commercial	692.1		129.9		—		18.2		—		(1.2)		839.0
Industrial	84.9		41.9		—		1.1		—		(4.7)		123.2
Total Retail Tariff Sales Revenues	1,919.2		370.2		—		58.2		—		(5.9)		2,341.7
Wholesale Transmission Revenues	—		—		403.0		—		—		(303.8)		99.2
Wholesale Market Sales Revenues	112.3		39.8		—		1.0		—		—		153.1
Other Revenues from Contracts with Customers	21.0		1.1		4.5		2.0		408.8		(405.8)		31.6
Total Revenues from Contracts with Customers	2,052.5		411.1		407.5		61.2		408.8		(715.5)		2,625.6
Alternative Revenue Programs	(3.0)		(3.1)		72.5		(3.4)		—		(65.7)		(2.7)
Other Revenues	4.9		1.1		0.1		0.3		—		—		6.4
Total Operating Revenues	$	2,054.4	$	409.1	$	480.1	$	58.1	$	408.8	$	(781.2)	$	2,629.3
	For the Six Months Ended June 30, 2023
Eversource (Millions of Dollars)	Electric Distribution		Natural Gas Distribution		Electric Transmission		Water Distribution		Other		Eliminations		Total
Revenues from Contracts with Customers
Retail Tariff Sales
Residential	$	2,606.2	$	774.9	$	—	$	67.9	$	—	$	—	$	3,449.0
Commercial	1,480.5		450.0		—		33.7		—		(2.3)		1,961.9
Industrial	174.1		111.4		—		2.1		—		(9.7)		277.9
Total Retail Tariff Sales Revenues	4,260.8		1,336.3		—		103.7		—		(12.0)		5,688.8
Wholesale Transmission Revenues	—		—		838.1		—		—		(629.1)		209.0
Wholesale Market Sales Revenues	329.6		88.9		—		1.8		—		—		420.3
Other Revenues from Contracts with Customers	39.2		2.7		9.1		4.0		822.7		(818.3)		59.4
Total Revenues from Contracts with Customers	4,629.6		1,427.9		847.2		109.5		822.7		(1,459.4)		6,377.5
Alternative Revenue Programs	3.1		24.3		91.2		(1.7)		—		(82.7)		34.2
Other Revenues	10.3		2.1		0.4		0.5		—		—		13.3
Total Operating Revenues	$	4,643.0	$	1,454.3	$	938.8	$	108.3	$	822.7	$	(1,542.1)	$	6,425.0

	For the Three Months Ended June 30, 2024						For the Three Months Ended June 30, 2023
(Millions of Dollars)	CL&P		NSTAR Electric		PSNH		CL&P		NSTAR Electric		PSNH
Revenues from Contracts with Customers
Retail Tariff Sales
Residential	$	513.7	$	380.2	$	133.6	$	593.7	$	370.5	$	178.0
Commercial	248.0		354.4		81.1		255.0		347.2		90.2
Industrial	32.6		30.2		27.1		31.3		31.1		22.5
Total Retail Tariff Sales Revenues	794.3		764.8		241.8		880.0		748.8		290.7
Wholesale Transmission Revenues	218.8		200.9		93.2		172.5		166.9		63.6
Wholesale Market Sales Revenues	97.4		27.0		7.6		62.9		32.5		16.9
Other Revenues from Contracts with Customers	1.5		13.3		5.5		8.8		12.9		4.4
Total Revenues from Contracts with Customers	1,112.0		1,006.0		348.1		1,124.2		961.1		375.6
Alternative Revenue Programs	23.9		4.2		3.4		52.6		(5.0)		21.9
Other Revenues	1.5		1.6		0.6		2.5		1.8		0.7
Eliminations	(172.8)		(166.7)		(64.8)		(145.2)		(138.9)		(48.1)
Total Operating Revenues	$	964.6	$	845.1	$	287.3	$	1,034.1	$	819.0	$	350.1

	For the Six Months Ended June 30, 2024						For the Six Months Ended June 30, 2023
(Millions of Dollars)	CL&P		NSTAR Electric		PSNH		CL&P		NSTAR Electric		PSNH
Revenues from Contracts with Customers
Retail Tariff Sales
Residential	$	1,140.6	$	842.4	$	298.6	$	1,355.9	$	838.3	$	412.0
Commercial	500.4		727.9		163.1		550.3		731.5		198.8
Industrial	65.8		60.1		51.7		65.2		63.8		45.1
Total Retail Tariff Sales Revenues	1,706.8		1,630.4		513.4		1,971.4		1,633.6		655.9
Wholesale Transmission Revenues	419.5		389.7		177.8		368.3		334.7		135.1
Wholesale Market Sales Revenues	218.6		58.6		20.1		217.6		73.6		38.4
Other Revenues from Contracts with Customers	18.0		24.4		10.7		18.7		23.6		7.3
Total Revenues from Contracts with Customers	2,362.9		2,103.1		722.0		2,576.0		2,065.5		836.7
Alternative Revenue Programs	51.3		12.0		11.0		77.3		(14.5)		31.5
Other Revenues	4.3		3.6		1.4		4.7		4.3		1.7
Eliminations	(332.6)		(326.0)		(121.0)		(284.9)		(280.0)		(99.7)
Total Operating Revenues	$	2,085.9	$	1,792.7	$	613.4	$	2,373.1	$	1,775.3	$	770.2

XML

SEGMENT INFORMATION (Tables)

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Summary of Segment Information and Segmented Total Assets

Eversource's segment information is as follows:

	For the Three Months Ended June 30, 2024
Eversource (Millions of Dollars)	Electric Distribution		Natural Gas Distribution		Electric Transmission		Water Distribution		Other		Eliminations		Total
Operating Revenues	$	1,966.3	$	393.5	$	534.1	$	57.5	$	395.2	$	(813.1)	$	2,533.5
Depreciation and Amortization	(34.9)		(50.1)		(98.8)		(10.8)		(48.5)		2.7		(240.4)
Other Operating Expenses	(1,713.6)		(295.2)		(147.1)		(30.9)		(314.2)		810.4		(1,690.6)
Operating Income	$	217.8	$	48.2	$	288.2	$	15.8	$	32.5	$	—	$	602.5
Interest Expense	$	(90.9)	$	(22.3)	$	(46.0)	$	(9.7)	$	(161.0)	$	58.6	$	(271.3)
Other Income, Net	67.0		10.9		12.2		0.6		473.5		(448.9)		115.3
Net Income Attributable to Common Shareholders	149.7		27.1		189.0		8.0		351.8		(390.3)		335.3
	For the Six Months Ended June 30, 2024
Eversource (Millions of Dollars)	Electric Distribution		Natural Gas Distribution		Electric Transmission		Water Distribution		Other		Eliminations		Total
Operating Revenues	$	4,228.0	$	1,299.5	$	1,041.9	$	107.7	$	838.8	$	(1,649.8)	$	5,866.1
Depreciation and Amortization	(144.6)		(133.2)		(199.8)		(11.5)		(94.1)		5.2		(578.0)
Other Operating Expenses	(3,618.7)		(849.8)		(289.0)		(63.0)		(663.7)		1,644.6		(3,839.6)
Operating Income	$	464.7	$	316.5	$	553.1	$	33.2	$	81.0	$	—	$	1,448.5
Interest Expense	$	(173.4)	$	(46.8)	$	(86.9)	$	(21.1)	$	(307.2)	$	113.3	$	(522.1)
Other Income, Net	123.5		21.0		26.3		2.3		1,096.2		(1,063.0)		206.3
Net Income Attributable to Common Shareholders	317.9		217.6		365.7		13.4		892.3		(949.7)		857.2
Cash Flows Used for Investments in Plant	883.6		467.9		668.1		75.7		125.6		—		2,220.9

	For the Three Months Ended June 30, 2023
Eversource (Millions of Dollars)	Electric Distribution		Natural Gas Distribution		Electric Transmission		Water Distribution		Other		Eliminations		Total
Operating Revenues	$	2,054.4	$	409.1	$	480.1	$	58.1	$	408.8	$	(781.2)	$	2,629.3
Depreciation and Amortization	82.1		(41.7)		(92.0)		(14.1)		(38.0)		2.2		(101.5)
Other Operating Expenses	(1,905.2)		(339.4)		(136.2)		(28.6)		(337.2)		779.5		(1,967.1)
Operating Income	$	231.3	$	28.0	$	251.9	$	15.4	$	33.6	$	0.5	$	560.7
Interest Expense	$	(68.2)	$	(21.5)	$	(42.2)	$	(9.2)	$	(100.6)	$	34.4	$	(207.3)
Impairment of Offshore Wind Investment	—		—		—		—		(401.0)		—		(401.0)
Other Income, Net	47.9		9.7		9.5		1.5		100.9		(74.6)		94.9
Net Income Attributable to Common Shareholders	165.5		11.7		161.0		9.3		(292.4)		(39.7)		15.4
	For the Six Months Ended June 30, 2023
Eversource (Millions of Dollars)	Electric Distribution		Natural Gas Distribution		Electric Transmission		Water Distribution		Other		Eliminations		Total
Operating Revenues	$	4,643.0	$	1,454.3	$	938.8	$	108.3	$	822.7	$	(1,542.1)	$	6,425.0
Depreciation and Amortization	60.0		(118.7)		(181.9)		(27.4)		(74.8)		4.3		(338.5)
Other Operating Expenses	(4,247.4)		(1,069.8)		(264.5)		(56.5)		(676.9)		1,538.8		(4,776.3)
Operating Income	$	455.6	$	265.8	$	492.4	$	24.4	$	71.0	$	1.0	$	1,310.2
Interest Expense	$	(137.6)	$	(42.7)	$	(83.7)	$	(18.6)	$	(185.7)	$	66.4	$	(401.9)
Impairment of Offshore Wind Investment	—		—		—		—		(401.0)		—		(401.0)
Other Income, Net	102.1		18.7		18.9		2.7		666.8		(625.3)		183.9
Net Income Attributable to Common Shareholders	331.0		181.9		316.1		10.8		224.7		(557.9)		506.6
Cash Flows Used for Investments in Plant	817.3		371.5		636.9		74.7		139.1		—		2,039.5

The following table summarizes Eversource's segmented total assets:

Eversource (Millions of Dollars)	Electric Distribution		Natural Gas Distribution		Electric Transmission		Water Distribution		Other		Eliminations		Total
As of June 30, 2024	$	30,943.9	$	9,036.6	$	15,417.3	$	3,018.6	$	28,662.1	$	(28,726.0)	$	58,352.5
As of December 31, 2023	29,426.4		8,775.3		14,806.5		2,944.8		26,337.7		(26,678.5)		55,612.2

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) $ in Thousands, customer in Millions					1 Months Ended	3 Months Ended				6 Months Ended
	Jul. 09, 2024 USD ($)	Apr. 18, 2024 USD ($)	Feb. 13, 2024 USD ($)	Sep. 07, 2023 USD ($) a mile	Sep. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) project	Dec. 31, 2023 USD ($)	Jun. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Jun. 30, 2024 USD ($) project regulatedUtility customer turbine	Jun. 30, 2023 USD ($)
Summary of Accounting Policies [Line Items]
Number of electric, natural gas and water customers | customer										4.4
Number of offshore wind projects | project						3				3
Number of tax equity projects | project						1				1
Payments for investment										$ 729,354	$ 390,002
Number of turbines | turbine										12
Percent realized of investment tax credit			0.10
Expected value of investment tax credit			$ 170,000
Impairment of Offshore Wind Investment						$ 0	$ 1,770,000	$ 401,000		$ 0	401,000
After-tax impairment							1,620,000	331,000
Energy Relief Fund - Merrimack Valley Programs
Summary of Accounting Policies [Line Items]
Restricted cash, current						20,000	20,000			20,000
Restricted cash, noncurrent						$ 13,300	$ 14,100			$ 13,300
CL&P
Summary of Accounting Policies [Line Items]
Period of accounts receivable recoverable under financial or medical duress										180 days
Yankee Gas
Summary of Accounting Policies [Line Items]
Period of accounts receivable recoverable under financial or medical duress										90 days
Tax Equity
Summary of Accounting Policies [Line Items]
Ownership interest (percent)						50.00%				50.00%
Offshore Wind Business
Summary of Accounting Policies [Line Items]
Ownership interest (percent)						50.00%				50.00%
Northeast Offshore LLC And South Fork Class B Member, LLC
Summary of Accounting Policies [Line Items]
Ownership interest (percent)						50.00%				50.00%
Number of offshore wind projects | project						3				3
South Fork Wind Holdings, LLC Class A shares
Summary of Accounting Policies [Line Items]
Ownership interest (percent)					100.00%	100.00%				100.00%
Expected value of investment tax credit										$ 385,000
Increase (decrease) in taxes payable										(54,000)
Increase in deferred tax assets										$ 331,000
Uncommitted Lease Area
Summary of Accounting Policies [Line Items]
Ownership interest (percent)				50.00%
Uncommitted area of developable acres (in acres) | a				175,000
Number of miles off south coast of Massachusetts | mile				25
Payments for investment				$ 625,000
Tax Equity Capital Contribution Agreement
Summary of Accounting Policies [Line Items]
Payments for investment					$ 528,000
Sunrise Wind, LLC
Summary of Accounting Policies [Line Items]
Proceeds from sale of equity method investments		$ 230,000
Sunrise Wind, LLC | Subsequent Event
Summary of Accounting Policies [Line Items]
Proceeds from sale of equity method investments	$ 118,000
Sunrise Wind, LLC | Orsted | Subsequent Event
Summary of Accounting Policies [Line Items]
Equity method investment, percent of remaining purchase price paid (in percent)	34,000,000
Orsted
Summary of Accounting Policies [Line Items]
Ownership interest (percent)		50.00%
South Fork Wind And Revolution Wind
Summary of Accounting Policies [Line Items]
Ownership interest (percent)			50.00%
Proceeds from sale of equity method investments			$ 1,100,000
Percent of investment tax credit			40.00%
Cost sharing agreement, threshold amount			$ 240,000
Renewable Energy Investment Fund
Summary of Accounting Policies [Line Items]
Proceeds from sale of equity method investments								$ 23,600	$ 123,400		$ 147,000
Renewable Energy Investment Fund | Equity Method Investee
Summary of Accounting Policies [Line Items]
Charitable contributions									$ 20,000
Connecticut, Massachusetts and New Hampshire
Summary of Accounting Policies [Line Items]
Number of regulated utilities | regulatedUtility										12

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Provision for Uncollectible Accounts (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	$ 570,100	$ 535,100	$ 554,500	$ 486,300
Uncollectible Expense	9,900	1,400	26,279	24,171
Uncollectible Costs Deferred	36,000	21,500	74,900	79,500
Write-Offs	(39,800)	(29,900)	(83,500)	(65,800)
Recoveries Collected	3,400	4,300	7,400	8,200
Ending Balance	579,600	532,400	579,600	532,400
CL&P
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	307,800	253,400	296,000	225,300
Uncollectible Expense	2,800	900	6,326	4,750
Uncollectible Costs Deferred	17,900	20,000	43,400	57,000
Write-Offs	(21,200)	(13,500)	(39,800)	(27,800)
Recoveries Collected	1,300	2,000	2,700	3,500
Ending Balance	308,600	262,800	308,600	262,800
NSTAR Electric
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	97,700	94,600	97,000	95,000
Uncollectible Expense	5,900	3,100	12,007	7,759
Uncollectible Costs Deferred	9,000	7,600	12,600	11,700
Write-Offs	(7,300)	(8,700)	(17,500)	(19,400)
Recoveries Collected	900	1,200	2,100	2,700
Ending Balance	106,200	97,800	106,200	97,800
PSNH
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	13,800	33,500	14,300	29,200
Uncollectible Expense	1,000	(5,500)	2,178	(451)
Uncollectible Costs Deferred	1,100	(13,500)	2,400	(12,200)
Write-Offs	(2,000)	(2,000)	(5,200)	(4,200)
Recoveries Collected	200	200	400	400
Ending Balance	14,100	12,700	14,100	12,700
Hardship Accounts
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	379,400	318,700	366,800	284,400
Uncollectible Expense	0	0	0	0
Uncollectible Costs Deferred	26,000	27,000	53,500	70,800
Write-Offs	(16,500)	(8,100)	(31,700)	(17,800)
Recoveries Collected	200	600	500	800
Ending Balance	389,100	338,200	389,100	338,200
Hardship Accounts | CL&P
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	271,800	216,200	259,700	188,900
Uncollectible Expense	0	0	0	0
Uncollectible Costs Deferred	15,300	16,600	38,100	50,900
Write-Offs	(12,900)	(6,800)	(23,800)	(14,100)
Recoveries Collected	200	500	400	800
Ending Balance	274,400	226,500	274,400	226,500
Hardship Accounts | NSTAR Electric
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	41,800	42,000	43,600	43,700
Uncollectible Expense	0	0	0	0
Uncollectible Costs Deferred	4,300	3,700	3,500	2,400
Write-Offs	(200)	(100)	(1,200)	(500)
Recoveries Collected	0	0	0	0
Ending Balance	45,900	45,600	45,900	45,600
Retail (Non-Hardship), Wholesale, and Other
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	190,700	216,400	187,700	201,900
Uncollectible Expense	9,900	1,400	26,300	24,200
Uncollectible Costs Deferred	10,000	(5,500)	21,400	8,700
Write-Offs	(23,300)	(21,800)	(51,800)	(48,000)
Recoveries Collected	3,200	3,700	6,900	7,400
Ending Balance	190,500	194,200	190,500	194,200
Retail (Non-Hardship), Wholesale, and Other | CL&P
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	36,000	37,200	36,300	36,400
Uncollectible Expense	2,800	900	6,300	4,800
Uncollectible Costs Deferred	2,600	3,400	5,300	6,100
Write-Offs	(8,300)	(6,700)	(16,000)	(13,700)
Recoveries Collected	1,100	1,500	2,300	2,700
Ending Balance	34,200	36,300	34,200	36,300
Retail (Non-Hardship), Wholesale, and Other | NSTAR Electric
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	55,900	52,600	53,400	51,300
Uncollectible Expense	5,900	3,100	12,000	7,800
Uncollectible Costs Deferred	4,700	3,900	9,100	9,300
Write-Offs	(7,100)	(8,600)	(16,300)	(18,900)
Recoveries Collected	900	1,200	2,100	2,700
Ending Balance	$ 60,300	$ 52,200	$ 60,300	$ 52,200

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Components of Other Income, Net (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Summary of Accounting Policies [Line Items]
Other income, net	$ 115,285	$ 94,875	$ 206,315	$ 183,857
Pension, SERP and PBOP Non-Service   Income Components, Net of Deferred Portion
Summary of Accounting Policies [Line Items]
Other income, net	30,000	33,300	57,800	68,100
AFUDC Equity
Summary of Accounting Policies [Line Items]
Other income, net	23,700	19,000	50,500	34,500
Equity in Earnings of Unconsolidated Affiliates
Summary of Accounting Policies [Line Items]
Other income, net	23,200	5,000	31,000	8,800
Investment Income/(Loss)
Summary of Accounting Policies [Line Items]
Other income, net	1,100	(1,400)	300	(3,100)
Interest Income
Summary of Accounting Policies [Line Items]
Other income, net	37,100	21,400	67,100	44,500
Other
Summary of Accounting Policies [Line Items]
Other income, net	200	17,600	(400)	31,100
Equity in Earnings
Summary of Accounting Policies [Line Items]
Unrealized gain associated with investment	23,400
CL&P
Summary of Accounting Policies [Line Items]
Other income, net	22,977	13,362	39,445	28,299
CL&P | Pension, SERP and PBOP Non-Service   Income Components, Net of Deferred Portion
Summary of Accounting Policies [Line Items]
Other income, net	7,200	8,400	13,700	17,900
CL&P | AFUDC Equity
Summary of Accounting Policies [Line Items]
Other income, net	5,500	4,600	11,500	8,700
CL&P | Equity in Earnings of Unconsolidated Affiliates
Summary of Accounting Policies [Line Items]
Other income, net	0	0	0	0
CL&P | Investment Income/(Loss)
Summary of Accounting Policies [Line Items]
Other income, net	(100)	(1,100)	(900)	(1,700)
CL&P | Interest Income
Summary of Accounting Policies [Line Items]
Other income, net	10,400	1,500	15,100	3,400
CL&P | Other
Summary of Accounting Policies [Line Items]
Other income, net	0	0	0	0
NSTAR Electric
Summary of Accounting Policies [Line Items]
Other income, net	48,421	40,909	95,536	80,782
NSTAR Electric | Pension, SERP and PBOP Non-Service   Income Components, Net of Deferred Portion
Summary of Accounting Policies [Line Items]
Other income, net	13,300	14,100	25,600	28,800
NSTAR Electric | AFUDC Equity
Summary of Accounting Policies [Line Items]
Other income, net	15,200	12,000	31,400	21,500
NSTAR Electric | Equity in Earnings of Unconsolidated Affiliates
Summary of Accounting Policies [Line Items]
Other income, net	200	100	400	200
NSTAR Electric | Investment Income/(Loss)
Summary of Accounting Policies [Line Items]
Other income, net	500	300	900	(200)
NSTAR Electric | Interest Income
Summary of Accounting Policies [Line Items]
Other income, net	19,200	14,400	37,200	30,400
NSTAR Electric | Other
Summary of Accounting Policies [Line Items]
Other income, net	0	0	0	100
PSNH
Summary of Accounting Policies [Line Items]
Other income, net	7,772	6,301	14,822	12,019
PSNH | Pension, SERP and PBOP Non-Service   Income Components, Net of Deferred Portion
Summary of Accounting Policies [Line Items]
Other income, net	3,700	3,900	7,300	8,100
PSNH | AFUDC Equity
Summary of Accounting Policies [Line Items]
Other income, net	1,700	1,100	3,600	1,800
PSNH | Equity in Earnings of Unconsolidated Affiliates
Summary of Accounting Policies [Line Items]
Other income, net	0	0	0	0
PSNH | Investment Income/(Loss)
Summary of Accounting Policies [Line Items]
Other income, net	0	(300)	(200)	(400)
PSNH | Interest Income
Summary of Accounting Policies [Line Items]
Other income, net	2,400	1,200	4,100	2,100
PSNH | Other
Summary of Accounting Policies [Line Items]
Other income, net	$ 0	$ 400	$ 0	$ 400

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Investments in Unconsolidated Affiliates (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated affiliates	$ 949,037	$ 660,473
Offshore Wind Business
Schedule of Equity Method Investments [Line Items]
Ownership interest (percent)	50.00%
Investments in unconsolidated affiliates	$ 806,100	515,500
Offshore Wind Business | Minimum
Schedule of Equity Method Investments [Line Items]
Ownership interest (percent)	50.00%
Offshore Wind Business | Maximum
Schedule of Equity Method Investments [Line Items]
Ownership interest (percent)	100.00%
Natural Gas Pipeline - Algonquin Gas Transmission, LLC
Schedule of Equity Method Investments [Line Items]
Ownership interest (percent)	15.00%
Investments in unconsolidated affiliates	$ 113,200	116,000
Other
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated affiliates	$ 29,700	$ 29,000

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Other Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Schedule of Gross Tax Receipts [Line Items]
Gross receipts taxes	$ 44.6	$ 44.7	$ 97.9	$ 99.7
CL&P
Schedule of Gross Tax Receipts [Line Items]
Gross receipts taxes	$ 39.7	$ 38.9	$ 83.6	$ 82.0

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Non-cash Investing Activities (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Schedule of Supplemental Cash Flow [Line Items]
Plant additions included in accounts payable	$ 477.9	$ 457.5
CL&P
Schedule of Supplemental Cash Flow [Line Items]
Plant additions included in accounts payable	89.2	104.8
NSTAR Electric
Schedule of Supplemental Cash Flow [Line Items]
Plant additions included in accounts payable	142.2	113.4
PSNH
Schedule of Supplemental Cash Flow [Line Items]
Plant additions included in accounts payable	$ 86.5	$ 59.6

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Reconciliation of Cash Balances to Cash and Restricted Cash (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023	Dec. 31, 2022
Restricted Cash and Cash Equivalents Items [Line Items]
Cash as reported on the Balance Sheets	$ 33,381	$ 53,873
Cash and Restricted Cash as reported on the Statements of Cash Flows	132,633	166,418	$ 177,992	$ 521,752
Special Deposits
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	66,400	81,500
Marketable Securities
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	16,300	13,700
Other Long-Term Assets
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	16,500	17,300
CL&P
Restricted Cash and Cash Equivalents Items [Line Items]
Cash as reported on the Balance Sheets	0	10,213
Cash and Restricted Cash as reported on the Statements of Cash Flows	1,068	12,243	24,128	20,327
CL&P | Special Deposits
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	1,100	2,000
CL&P | Marketable Securities
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	0	0
CL&P | Other Long-Term Assets
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	0	0
NSTAR Electric
Restricted Cash and Cash Equivalents Items [Line Items]
Cash as reported on the Balance Sheets	2,730	6,740
Cash and Restricted Cash as reported on the Statements of Cash Flows	4,092	22,785	9,135	345,293
NSTAR Electric | Special Deposits
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	1,400	16,100
NSTAR Electric | Marketable Securities
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	0	0
NSTAR Electric | Other Long-Term Assets
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	0	0
PSNH
Restricted Cash and Cash Equivalents Items [Line Items]
Cash as reported on the Balance Sheets	252	240
Cash and Restricted Cash as reported on the Statements of Cash Flows	34,081	35,004	$ 37,759	$ 36,812
PSNH | Special Deposits
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	30,600	31,600
PSNH | Marketable Securities
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	0	0
PSNH | Other Long-Term Assets
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	$ 3,200	$ 3,200

XML

REGULATORY ACCOUNTING - Components of Regulatory Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Regulatory Assets [Line Items]
Total Regulatory Assets	$ 7,067,700	$ 6,389,200
Less:  Current Portion	2,071,652	1,674,196
Total Long-Term Regulatory Assets	4,995,989	4,714,970
Storm Costs, Net
Regulatory Assets [Line Items]
Total Regulatory Assets	2,074,800	1,785,900
Regulatory Tracking Mechanisms
Regulatory Assets [Line Items]
Total Regulatory Assets	1,722,000	1,319,200
Benefit Costs
Regulatory Assets [Line Items]
Total Regulatory Assets	1,116,500	1,117,300
Income Taxes, Net
Regulatory Assets [Line Items]
Total Regulatory Assets	936,100	912,400
Securitized Stranded Costs
Regulatory Assets [Line Items]
Total Regulatory Assets	370,900	392,500
Goodwill-related
Regulatory Assets [Line Items]
Total Regulatory Assets	255,700	264,100
Asset Retirement Obligations
Regulatory Assets [Line Items]
Total Regulatory Assets	144,000	137,900
Derivative Liabilities
Regulatory Assets [Line Items]
Total Regulatory Assets	87,400	120,900
Other Regulatory Assets
Regulatory Assets [Line Items]
Total Regulatory Assets	360,300	339,000
CL&P
Regulatory Assets [Line Items]
Total Regulatory Assets	2,592,700	2,143,200
Less:  Current Portion	860,776	480,369
Total Long-Term Regulatory Assets	1,731,870	1,662,778
CL&P | Storm Costs, Net
Regulatory Assets [Line Items]
Total Regulatory Assets	976,800	896,600
CL&P | Regulatory Tracking Mechanisms
Regulatory Assets [Line Items]
Total Regulatory Assets	743,700	354,500
CL&P | Benefit Costs
Regulatory Assets [Line Items]
Total Regulatory Assets	201,600	197,400
CL&P | Income Taxes, Net
Regulatory Assets [Line Items]
Total Regulatory Assets	522,400	512,600
CL&P | Securitized Stranded Costs
Regulatory Assets [Line Items]
Total Regulatory Assets	0	0
CL&P | Goodwill-related
Regulatory Assets [Line Items]
Total Regulatory Assets	0	0
CL&P | Asset Retirement Obligations
Regulatory Assets [Line Items]
Total Regulatory Assets	39,800	38,500
CL&P | Derivative Liabilities
Regulatory Assets [Line Items]
Total Regulatory Assets	87,400	120,900
CL&P | Other Regulatory Assets
Regulatory Assets [Line Items]
Total Regulatory Assets	21,000	22,700
NSTAR Electric
Regulatory Assets [Line Items]
Total Regulatory Assets	2,062,900	1,957,900
Less:  Current Portion	757,447	676,083
Total Long-Term Regulatory Assets	1,305,490	1,281,836
NSTAR Electric | Storm Costs, Net
Regulatory Assets [Line Items]
Total Regulatory Assets	652,100	609,100
NSTAR Electric | Regulatory Tracking Mechanisms
Regulatory Assets [Line Items]
Total Regulatory Assets	549,600	482,900
NSTAR Electric | Benefit Costs
Regulatory Assets [Line Items]
Total Regulatory Assets	320,300	336,700
NSTAR Electric | Income Taxes, Net
Regulatory Assets [Line Items]
Total Regulatory Assets	138,200	128,600
NSTAR Electric | Securitized Stranded Costs
Regulatory Assets [Line Items]
Total Regulatory Assets	0	0
NSTAR Electric | Goodwill-related
Regulatory Assets [Line Items]
Total Regulatory Assets	219,500	226,700
NSTAR Electric | Asset Retirement Obligations
Regulatory Assets [Line Items]
Total Regulatory Assets	75,300	72,300
NSTAR Electric | Derivative Liabilities
Regulatory Assets [Line Items]
Total Regulatory Assets	0	0
NSTAR Electric | Other Regulatory Assets
Regulatory Assets [Line Items]
Total Regulatory Assets	107,900	101,600
PSNH
Regulatory Assets [Line Items]
Total Regulatory Assets	1,097,600	963,300
Less:  Current Portion	175,003	189,450
Total Long-Term Regulatory Assets	922,613	773,783
PSNH | Storm Costs, Net
Regulatory Assets [Line Items]
Total Regulatory Assets	445,900	280,200
PSNH | Regulatory Tracking Mechanisms
Regulatory Assets [Line Items]
Total Regulatory Assets	174,300	182,200
PSNH | Benefit Costs
Regulatory Assets [Line Items]
Total Regulatory Assets	81,000	79,300
PSNH | Income Taxes, Net
Regulatory Assets [Line Items]
Total Regulatory Assets	14,800	16,400
PSNH | Securitized Stranded Costs
Regulatory Assets [Line Items]
Total Regulatory Assets	370,900	392,500
PSNH | Goodwill-related
Regulatory Assets [Line Items]
Total Regulatory Assets	0	0
PSNH | Asset Retirement Obligations
Regulatory Assets [Line Items]
Total Regulatory Assets	4,900	4,700
PSNH | Derivative Liabilities
Regulatory Assets [Line Items]
Total Regulatory Assets	0	0
PSNH | Other Regulatory Assets
Regulatory Assets [Line Items]
Total Regulatory Assets	$ 5,800	$ 8,000

XML

REGULATORY ACCOUNTING - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Regulatory Assets [Line Items]
Amount of regulatory costs not yet approved	$ 267.0	$ 241.7
Regulatory costs	87.5	82.1
CL&P
Regulatory Assets [Line Items]
Amount of regulatory costs not yet approved	180.4	166.7
Regulatory costs	64.7	64.0
NSTAR Electric
Regulatory Assets [Line Items]
Amount of regulatory costs not yet approved	27.8	21.9
Regulatory costs	10.9	7.3
PSNH
Regulatory Assets [Line Items]
Amount of regulatory costs not yet approved	$ 2.1	$ 1.2

XML

REGULATORY ACCOUNTING - Components of Regulatory Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	$ 4,745,100	$ 4,614,700
Less:  Current Portion	652,291	591,750
Total Long-Term Regulatory Liabilities	4,092,811	4,022,923
EDIT due to Tax Cuts and Jobs Act of 2017
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	2,526,700	2,548,600
Regulatory Tracking Mechanisms
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	722,700	668,300
Cost of Removal
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	717,400	666,600
Deferred Portion of Non-Service Income Components of Pension, SERP and PBOP
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	391,500	354,000
AFUDC - Transmission
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	142,400	124,300
Benefit Costs
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	40,400	51,000
Other Regulatory Liabilities
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	204,000	201,900
CL&P
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	1,485,200	1,418,100
Less:  Current Portion	133,305	102,239
Total Long-Term Regulatory Liabilities	1,351,877	1,315,928
CL&P | EDIT due to Tax Cuts and Jobs Act of 2017
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	963,900	969,200
CL&P | Regulatory Tracking Mechanisms
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	183,200	154,000
CL&P | Cost of Removal
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	182,100	157,900
CL&P | Deferred Portion of Non-Service Income Components of Pension, SERP and PBOP
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	56,000	49,900
CL&P | AFUDC - Transmission
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	61,000	56,100
CL&P | Benefit Costs
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	500	600
CL&P | Other Regulatory Liabilities
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	38,500	30,400
NSTAR Electric
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	2,033,100	1,953,400
Less:  Current Portion	413,492	368,070
Total Long-Term Regulatory Liabilities	1,619,614	1,585,311
NSTAR Electric | EDIT due to Tax Cuts and Jobs Act of 2017
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	894,000	905,100
NSTAR Electric | Regulatory Tracking Mechanisms
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	393,300	347,200
NSTAR Electric | Cost of Removal
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	442,200	420,900
NSTAR Electric | Deferred Portion of Non-Service Income Components of Pension, SERP and PBOP
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	194,000	175,900
NSTAR Electric | AFUDC - Transmission
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	81,400	68,200
NSTAR Electric | Benefit Costs
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	14,700	22,200
NSTAR Electric | Other Regulatory Liabilities
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	13,500	13,900
PSNH
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	471,300	511,100
Less:  Current Portion	79,112	117,515
Total Long-Term Regulatory Liabilities	392,184	393,574
PSNH | EDIT due to Tax Cuts and Jobs Act of 2017
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	335,700	339,300
PSNH | Regulatory Tracking Mechanisms
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	72,600	114,400
PSNH | Cost of Removal
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	18,400	16,200
PSNH | Deferred Portion of Non-Service Income Components of Pension, SERP and PBOP
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	39,700	36,600
PSNH | AFUDC - Transmission
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	0	0
PSNH | Benefit Costs
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	0	0
PSNH | Other Regulatory Liabilities
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	$ 4,900	$ 4,600

XML

PROPERTY, PLANT AND EQUIPMENT AND ACCUMULATED DEPRECIATION - Summary of Property, Plant, and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Public Utility, Property, Plant and Equipment [Line Items]
Distribution - Electric	$ 20,467,300	$ 19,656,500
Distribution - Natural Gas	8,358,900	8,155,300
Transmission - Electric	15,589,600	14,666,800
Distribution - Water	2,313,500	2,280,100
Solar	201,100	201,100
Utility	46,930,400	44,959,800
Other	2,193,600	2,006,800
Property, Plant and Equipment, Gross	49,124,000	46,966,600
Less:  Accumulated Depreciation
Utility	(10,110,400)	(9,670,100)
Other	(964,400)	(869,600)
Total Accumulated Depreciation	(11,074,800)	(10,539,700)
Property, Plant and Equipment, Net	38,049,200	36,426,900
Construction Work in Progress	3,077,000	3,071,700
Total Property, Plant and Equipment, Net	41,126,153	39,498,607
CL&P
Public Utility, Property, Plant and Equipment [Line Items]
Distribution - Electric	8,270,000	7,897,100
Transmission - Electric	6,790,700	6,548,200
Solar	0	0
Property, Plant and Equipment, Gross	15,060,700	14,445,300
Less:  Accumulated Depreciation
Total Accumulated Depreciation	(2,884,400)	(2,670,500)
Property, Plant and Equipment, Net	12,176,300	11,774,800
Construction Work in Progress	512,300	565,400
Total Property, Plant and Equipment, Net	12,688,615	12,340,192
NSTAR Electric
Public Utility, Property, Plant and Equipment [Line Items]
Distribution - Electric	9,378,400	9,000,500
Transmission - Electric	6,146,500	5,630,800
Solar	201,100	201,100
Property, Plant and Equipment, Gross	15,726,000	14,832,400
Less:  Accumulated Depreciation
Total Accumulated Depreciation	(3,706,600)	(3,585,900)
Property, Plant and Equipment, Net	12,019,400	11,246,500
Construction Work in Progress	1,303,500	1,507,300
Total Property, Plant and Equipment, Net	13,322,862	12,753,787
PSNH
Public Utility, Property, Plant and Equipment [Line Items]
Distribution - Electric	2,859,100	2,799,200
Transmission - Electric	2,654,100	2,489,500
Solar	0	0
Property, Plant and Equipment, Gross	5,513,200	5,288,700
Less:  Accumulated Depreciation
Total Accumulated Depreciation	(1,016,500)	(984,000)
Property, Plant and Equipment, Net	4,496,700	4,304,700
Construction Work in Progress	336,700	270,000
Total Property, Plant and Equipment, Net	$ 4,833,400	$ 4,574,652

XML

DERIVATIVE INSTRUMENTS - Gross Fair Values and Net Amounts of Contracts (Details) - CL&P - Level 2 - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Current Derivative Assets
Derivative Assets (Liabilities), at Fair Value, Net, by Balance Sheet Classification [Abstract]
Commodity Supply and Price Risk Management	$ 15.5	$ 16.4
Netting	(0.4)	(0.5)
Net Amount Recorded as a Derivative	15.1	15.9
Long-Term Derivative Assets
Derivative Assets (Liabilities), at Fair Value, Net, by Balance Sheet Classification [Abstract]
Commodity Supply and Price Risk Management	6.2	13.6
Netting	(0.2)	(0.5)
Net Amount Recorded as a Derivative	6.0	13.1
Current Derivative Liabilities
Current and Long-Term Derivative Liabilities
Commodity Supply and Price Risk Management	(77.4)	(81.9)
Netting	0.0	0.0
Net Amount Recorded as a Derivative	(77.4)	(81.9)
Long-Term Derivative Liabilities
Current and Long-Term Derivative Liabilities
Commodity Supply and Price Risk Management	(31.1)	(68.0)
Netting	0.0	0.0
Net Amount Recorded as a Derivative	$ (31.1)	$ (68.0)

XML

DERIVATIVE INSTRUMENTS - Narrative (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024 USD ($) MW	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) MW	Jun. 30, 2023 USD ($)	Dec. 31, 2023 MW
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Percentage of costs or benefits borne under capacity-related contracts by United Illuminated Company (in percent)			20.00%
Amount of power to be purchased under capacity-related contract (in MW) | MW	615		615		682
CL&P
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Percentage of costs or benefits borne under capacity-related contracts (in percent)			80.00%
Derivative instruments gain (loss) recognized in regulatory asset liability | $	$ (1.9)	$ 1.8	$ (2.9)	$ (0.1)

XML

DERIVATIVE INSTRUMENTS - Changes in the Level 3 Category of Derivative Assets Measured at Fair Value on a Recurring Basis (Details) - CL&P - Level 2 - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023
Derivatives, Net [Rollforward]
Fair Value as of Beginning of Period	$ (168.8)	$ (181.8)
Net Realized/Unrealized Gains/(Losses) Included in Regulatory Assets	1.8	(0.1)
Settlements	14.9	29.8
Fair Value as of End of Period	$ (152.1)	$ (152.1)

XML

MARKETABLE SECURITIES - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Debt Securities, Available-for-sale [Line Items]
Available-for-sale equity securities	$ 3,800,000		$ 3,800,000		$ 3,300,000
Unrealized (loss) gain recorded in other income	100,000	$ (4,700,000)	500,000	$ (3,900,000)
Credit loss	0	$ 0	0	$ 0
Allowance for credit loss	0		0
CYAPC and YAEC
Debt Securities, Available-for-sale [Line Items]
Available-for-sale equity securities	$ 168,800,000		$ 168,800,000		$ 173,600,000

XML

MARKETABLE SECURITIES - Summary of Available-for-Sale Debt Securities (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Amortized Cost	$ 172.8	$ 169.5
Pre-Tax Unrealized Gains	0.2	1.4
Pre-Tax Unrealized Losses	(10.0)	(6.6)
Fair Value	$ 163.0	$ 164.3

XML

MARKETABLE SECURITIES - Contractual Maturities of Available-for-Sale Debt Securities (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Amortized Cost
Less than one year	$ 17.8
One to five years	30.9
Six to ten years	43.9
Greater than ten years	80.2
Amortized Cost	172.8	$ 169.5
Fair Value
Less than one year	17.7
One to five years	30.3
Six to ten years	42.5
Greater than ten years	72.5
Fair Value	$ 163.0	$ 164.3

XML

MARKETABLE SECURITIES - Marketable Securities Recorded at Fair Value on a Recurring Basis by Level (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	$ 335.6	$ 341.2
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	188.9	190.6
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	146.7	150.6
Mutual Funds and Equities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	172.6	176.9
Money Market Funds | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	16.3	13.7
U.S. Government Issued Debt Securities (Agency and Treasury) | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	87.6	90.1
Corporate Debt Securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	33.5	34.0
Asset-Backed Debt Securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	8.3	5.6
Municipal Bonds | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	7.0	9.8
Other Fixed Income Securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	$ 10.3	$ 11.1

XML

SHORT-TERM AND LONG-TERM DEBT - Narrative (Details) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jul. 24, 2024	May 01, 2024	Feb. 08, 2024	Dec. 31, 2023
Line of Credit Facility [Line Items]
Long-Term Debt	$ 25,836,078,000				$ 23,588,616,000
Long-term debt, current maturities classified as noncurrent	100,000,000
NSTAR Electric
Line of Credit Facility [Line Items]
Long-Term Debt	5,092,959,000				4,496,947,000
CL&P
Line of Credit Facility [Line Items]
Long-Term Debt	4,814,280,000				4,814,429,000
Notes payable to Eversource parent	407,800,000				249,670,000
CL&P | Related Party
Line of Credit Facility [Line Items]
Long-Term Debt					207,300,000
Notes payable to Eversource parent	407,800,000				457,000,000.0
PSNH
Line of Credit Facility [Line Items]
Long-Term Debt	1,731,461,000				1,431,591,000
Notes payable to Eversource parent	132,000,000				233,000,000
PSNH | Related Party
Line of Credit Facility [Line Items]
Notes payable to Eversource parent	132,000,000.0				233,000,000.0
Line of Credit | NSTAR Electric
Line of Credit Facility [Line Items]
Maximum borrowing capacity			$ 2,400,000,000
Line of Credit | CL&P
Line of Credit Facility [Line Items]
Maximum borrowing capacity	375,000,000
Amount outstanding under line of credit	0
Line of Credit | CL&P | Subsequent Event
Line of Credit Facility [Line Items]
Maximum borrowing capacity		$ 1,000,000,000
Line of Credit | PSNH
Line of Credit Facility [Line Items]
Maximum borrowing capacity	250,000,000			$ 300,000,000
Amount outstanding under line of credit	0
Commercial Paper | NSTAR Electric
Line of Credit Facility [Line Items]
Maximum borrowing capacity	650,000,000
Commercial Paper | CL&P
Line of Credit Facility [Line Items]
Long-Term Debt					207,300,000
Commercial Paper | Yankee Gas
Line of Credit Facility [Line Items]
Long-Term Debt	37,900,000
Line of Credit
Line of Credit Facility [Line Items]
Amount outstanding under line of credit	0				$ 0
Line of Credit | NSTAR Electric
Line of Credit Facility [Line Items]
Maximum borrowing capacity	650,000,000
Eversource Parent | Commercial Paper
Line of Credit Facility [Line Items]
Maximum borrowing capacity	2,000,000,000.00
Eversource Parent | Line of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 2,000,000,000
Debt instrument term (in years)	5 years
NSTAR Electric | Line of Credit | NSTAR Electric
Line of Credit Facility [Line Items]
Debt instrument term (in years)	5 years

XML

SHORT-TERM AND LONG-TERM DEBT - Borrowings Outstanding and Available under the Commercial Paper Programs (Details) - Commercial Paper - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Borrowings outstanding	$ 1,203.0	$ 1,771.9
Available borrowing capacity	$ 797.0	$ 228.1
Weighted-average interest rate (in percent)	5.67%	5.60%
NSTAR Electric
Debt Instrument [Line Items]
Borrowings outstanding	$ 236.5	$ 365.8
Available borrowing capacity	$ 413.5	$ 284.2
Weighted-average interest rate (in percent)	5.37%	5.40%

XML

SHORT-TERM AND LONG-TERM DEBT - Summary of Long-Term Debt Issuance and Repayments (Details) - USD ($) $ in Thousands	1 Months Ended					6 Months Ended
	Jul. 31, 2024	Jun. 30, 2024	May 31, 2024	Apr. 30, 2024	Jan. 31, 2024	Jun. 30, 2024	Jun. 30, 2023
Debt Instrument [Line Items]
Repayments of long-term debt						$ (900,000)	$ (853,000)
Senior Notes | Eversource Parent Series DD Senior Notes | Eversource Parent
Debt Instrument [Line Items]
Interest rate, stated percentage (in percent)					5.00%
Issuances					$ 350,000
Senior Notes | Eversource Parent Series EE Senior Notes | Eversource Parent
Debt Instrument [Line Items]
Interest rate, stated percentage (in percent)					5.50%
Issuances					$ 650,000
Senior Notes | Eversource Parent Series FF Senior Notes | Eversource Parent
Debt Instrument [Line Items]
Interest rate, stated percentage (in percent)				5.85%
Issuances				$ 700,000
Senior Notes | Eversource Parent Series GG Senior Notes | Eversource Parent
Debt Instrument [Line Items]
Interest rate, stated percentage (in percent)				5.95%
Issuances				$ 700,000
Senior Notes | Eversource Parent Series X Senior Notes | Eversource Parent
Debt Instrument [Line Items]
Interest rate, stated percentage (in percent)		4.20%				4.20%
Repayments of long-term debt		$ (900,000)
CL&P
Debt Instrument [Line Items]
Repayments of long-term debt						$ 0	$ (400,000)
CL&P | First Mortgage | CL&P 2024 Series A First Mortgage Bonds
Debt Instrument [Line Items]
Interest rate, stated percentage (in percent)					4.65%
Issuances					$ 350,000
PSNH | First Mortgage | PSNH Series X First Mortgage Bonds
Debt Instrument [Line Items]
Interest rate, stated percentage (in percent)				5.35%
Issuances				$ 300,000
NSTAR Electric | Unsecured Debt | NSTAR Electric 2024 Debentures
Debt Instrument [Line Items]
Interest rate, stated percentage (in percent)			5.40%
Issuances			$ 600,000
Yankee Gas | First Mortgage | Yankee Gas Series W First Mortgage Bonds | Subsequent Event
Debt Instrument [Line Items]
Interest rate, stated percentage (in percent)	5.50%
Issuances	$ 90,000
Yankee Gas | First Mortgage | Yankee Gas Series X First Mortgage Bonds | Subsequent Event
Debt Instrument [Line Items]
Interest rate, stated percentage (in percent)	5.74%
Issuances	$ 90,000
NSTAR Gas | First Mortgage | NSTAR Gas Series W First Mortgage Bonds
Debt Instrument [Line Items]
Interest rate, stated percentage (in percent)		5.29%				5.29%
Issuances		$ 160,000
NSTAR Gas | First Mortgage | NSTAR Gas Series X First Mortgage Bonds
Debt Instrument [Line Items]
Interest rate, stated percentage (in percent)		5.48%				5.48%
Issuances		$ 40,000

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RATE REDUCTION BONDS AND VARIABLE INTEREST ENTITIES - Narrative (Details) - PSNH - Rate Reduction Bonds $ in Millions	May 31, 2018 USD ($)
Debt Instrument [Line Items]
Amount of securitized rate reduction bonds issued	$ 635.7
Weighted average interest rate (in percent)	3.66%

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RATE REDUCTION BONDS AND VARIABLE INTEREST ENTITIES - Summary of the Impact of Funding on the Balance Sheets (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Condensed Balance Sheet Statements, Captions [Line Items]
Securitized Stranded Cost (included in Regulatory Assets)	$ 7,067,700	$ 6,389,200
Regulatory Liabilities	4,092,811	4,022,923
Accrued Interest (included in Other Current Liabilities)	740,700	821,404
Rate Reduction Bonds - Current Portion	43,210	43,210
Rate Reduction Bonds - Long-Term Portion	345,677	367,282
Securitized Stranded Costs
Condensed Balance Sheet Statements, Captions [Line Items]
Securitized Stranded Cost (included in Regulatory Assets)	370,900	392,500
Other Regulatory Assets
Condensed Balance Sheet Statements, Captions [Line Items]
Securitized Stranded Cost (included in Regulatory Assets)	360,300	339,000
Current Derivative Assets
Condensed Balance Sheet Statements, Captions [Line Items]
Restricted Cash	66,400	81,500
Other Long-Term Assets
Condensed Balance Sheet Statements, Captions [Line Items]
Restricted Cash	16,500	17,300
PSNH
Condensed Balance Sheet Statements, Captions [Line Items]
Securitized Stranded Cost (included in Regulatory Assets)	1,097,600	963,300
Regulatory Liabilities	392,184	393,574
Accrued Interest (included in Other Current Liabilities)	73,148	72,328
Rate Reduction Bonds - Current Portion	43,210	43,210
Rate Reduction Bonds - Long-Term Portion	345,677	367,282
PSNH | VIE
Condensed Balance Sheet Statements, Captions [Line Items]
Rate Reduction Bonds - Current Portion	43,200	43,200
Rate Reduction Bonds - Long-Term Portion	345,700	367,300
PSNH | Securitized Stranded Costs
Condensed Balance Sheet Statements, Captions [Line Items]
Securitized Stranded Cost (included in Regulatory Assets)	370,900	392,500
PSNH | Securitized Stranded Costs | VIE
Condensed Balance Sheet Statements, Captions [Line Items]
Securitized Stranded Cost (included in Regulatory Assets)	370,900	392,500
PSNH | Other Regulatory Assets
Condensed Balance Sheet Statements, Captions [Line Items]
Securitized Stranded Cost (included in Regulatory Assets)	5,800	8,000
PSNH | Other Regulatory Assets | VIE
Condensed Balance Sheet Statements, Captions [Line Items]
Regulatory Liabilities	4,700	5,300
Accrued Interest (included in Other Current Liabilities)	6,100	6,300
PSNH | Current Derivative Assets
Condensed Balance Sheet Statements, Captions [Line Items]
Restricted Cash	30,600	31,600
PSNH | Current Derivative Assets | VIE
Condensed Balance Sheet Statements, Captions [Line Items]
Restricted Cash	29,000	30,000
PSNH | Other Long-Term Assets
Condensed Balance Sheet Statements, Captions [Line Items]
Restricted Cash	3,200	3,200
PSNH | Other Long-Term Assets | VIE
Condensed Balance Sheet Statements, Captions [Line Items]
Restricted Cash	$ 3,200	$ 3,200

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RATE REDUCTION BONDS AND VARIABLE INTEREST ENTITIES - Summary of the Impact of Funding on the Income Statements (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Condensed Income Statements, Captions [Line Items]
Interest Expense on RRB Principal (included in Interest Expense)	$ 271,300	$ 207,300	$ 522,100	$ 401,900
PSNH
Condensed Income Statements, Captions [Line Items]
Amortization of RRB Principal (included in Amortization of Regulatory Assets/(Liabilities), Net)	(28,729)	19,954	(49,993)	25,271
PSNH | VIE | Rate Reduction Bonds
Condensed Income Statements, Captions [Line Items]
Amortization of RRB Principal (included in Amortization of Regulatory Assets/(Liabilities), Net)	10,800	10,800	21,600	21,600
Interest Expense on RRB Principal (included in Interest Expense)	$ 3,600	$ 3,900	$ 7,300	$ 8,000

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PENSION BENEFITS AND POSTRETIREMENT BENEFITS OTHER THAN PENSION - Components of Net Periodic Benefit Expense/(Income) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pension and SERP
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service Cost	$ 11.2	$ 10.7	$ 22.0	$ 21.7
Interest Cost	62.7	63.5	124.7	127.2
Expected Return on Plan Assets	(115.7)	(116.5)	(231.3)	(232.4)
Actuarial Loss/(Gain)	22.1	11.6	41.9	24.1
Prior Service Cost/(Credit)	0.3	0.3	0.6	0.6
Settlement Loss		3.7	4.3	3.7
Total Net Periodic Benefit Plan Income	(19.4)	(26.7)	(37.8)	(55.1)
PBOP
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service Cost	1.8	2.0	3.5	3.8
Interest Cost	8.0	8.4	16.0	16.9
Expected Return on Plan Assets	(20.3)	(19.5)	(40.7)	(38.6)
Actuarial Loss/(Gain)	(0.1)	0.0	(0.2)	0.0
Prior Service Cost/(Credit)	(5.4)	(5.4)	(10.8)	(10.8)
Settlement Loss		0.0	0.0	0.0
Total Net Periodic Benefit Plan Income	(16.0)	(14.5)	(32.2)	(28.7)
CL&P | Pension and SERP
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service Cost	3.3	3.1	6.2	6.1
Interest Cost	12.7	12.7	25.1	25.3
Expected Return on Plan Assets	(23.5)	(23.7)	(46.8)	(47.1)
Actuarial Loss/(Gain)	3.2	0.6	5.7	1.4
Prior Service Cost/(Credit)	0.0	0.0	0.0	0.0
Settlement Loss		0.0	0.0	0.0
Total Net Periodic Benefit Plan Income	(4.3)	(7.3)	(9.8)	(14.3)
Intercompany Income Allocations	(0.6)	(0.6)	(0.3)	(2.6)
CL&P | PBOP
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service Cost	0.3	0.3	0.6	0.6
Interest Cost	1.4	1.5	2.8	3.1
Expected Return on Plan Assets	(2.3)	(2.3)	(4.7)	(4.7)
Actuarial Loss/(Gain)	0.0	0.0	0.0	0.0
Prior Service Cost/(Credit)	0.2	0.3	0.5	0.6
Settlement Loss		0.0	0.0	0.0
Total Net Periodic Benefit Plan Income	(0.4)	(0.2)	(0.8)	(0.4)
Intercompany Income Allocations	(0.5)	(0.4)	(1.1)	(0.9)
NSTAR Electric | Pension and SERP
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service Cost	1.9	1.9	4.0	4.0
Interest Cost	12.8	13.5	25.9	27.0
Expected Return on Plan Assets	(28.0)	(28.5)	(56.3)	(56.9)
Actuarial Loss/(Gain)	6.4	4.0	12.8	8.9
Prior Service Cost/(Credit)	0.1	0.1	0.2	0.2
Settlement Loss		0.0	0.0	0.0
Total Net Periodic Benefit Plan Income	(6.8)	(9.0)	(13.4)	(16.8)
Intercompany Income Allocations	(0.6)	(0.4)	(0.2)	(2.1)
NSTAR Electric | PBOP
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service Cost	0.3	0.3	0.6	0.6
Interest Cost	2.2	2.3	4.4	4.6
Expected Return on Plan Assets	(9.9)	(9.3)	(19.8)	(18.5)
Actuarial Loss/(Gain)	0.0	0.0	0.0	0.0
Prior Service Cost/(Credit)	(4.3)	(4.3)	(8.5)	(8.5)
Settlement Loss		0.0	0.0	0.0
Total Net Periodic Benefit Plan Income	(11.7)	(11.0)	(23.3)	(21.8)
Intercompany Income Allocations	(0.6)	(0.5)	(1.3)	(1.1)
PSNH | Pension and SERP
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service Cost	1.1	1.1	2.1	2.2
Interest Cost	6.7	6.8	13.4	13.6
Expected Return on Plan Assets	(12.2)	(12.5)	(24.4)	(24.8)
Actuarial Loss/(Gain)	1.3	0.4	2.4	0.8
Prior Service Cost/(Credit)	0.0	0.0	0.0	0.0
Settlement Loss		0.0	0.0	0.0
Total Net Periodic Benefit Plan Income	(3.1)	(4.2)	(6.5)	(8.2)
Intercompany Income Allocations	(0.2)	(0.1)	(0.1)	(0.6)
PSNH | PBOP
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service Cost	0.2	0.2	0.3	0.4
Interest Cost	0.8	0.9	1.7	1.8
Expected Return on Plan Assets	(1.4)	(1.4)	(2.8)	(2.8)
Actuarial Loss/(Gain)	0.0	0.0	0.0	0.0
Prior Service Cost/(Credit)	0.1	0.1	0.2	0.2
Settlement Loss		0.0	0.0	0.0
Total Net Periodic Benefit Plan Income	(0.3)	(0.2)	(0.6)	(0.4)
Intercompany Income Allocations	$ (0.2)	$ (0.1)	$ (0.4)	$ (0.3)

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COMMITMENTS AND CONTINGENCIES - Environmental Sites and Related Reserves (Details) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2024 USD ($) site	Dec. 31, 2023 USD ($) site
Site Contingency [Line Items]
Number of Sites | site	66	65
Reserve | $	$ 127.1	$ 128.2
CL&P
Site Contingency [Line Items]
Number of Sites | site	16	16
Reserve | $	$ 13.4	$ 13.8
NSTAR Electric
Site Contingency [Line Items]
Number of Sites | site	13	12
Reserve | $	$ 5.9	$ 5.4
PSNH
Site Contingency [Line Items]
Number of Sites | site	8	8
Reserve | $	$ 6.5	$ 7.6

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COMMITMENTS AND CONTINGENCIES - Environmental Matters Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Site Contingency [Line Items]
Reserve balance	$ 127.1	$ 128.2
MGP Sites
Site Contingency [Line Items]
Reserve balance	$ 115.5	$ 117.1

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COMMITMENTS AND CONTINGENCIES - Schedule of Estimated Future Annual Costs of Long term Contractual Agreement (Details) - Renewable Energy Contracts - CL&P $ in Millions	Jun. 30, 2024 USD ($)
Long-Term Purchase Commitment [Line Items]
2024	$ 338.1
2025	651.3
2026	728.7
2027	732.3
2028	734.5
Thereafter	3,798.2
Total	$ 6,983.1

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COMMITMENTS AND CONTINGENCIES - Long-Term Contractual Arrangements (Details) $ in Millions	Dec. 31, 2023 USD ($)
Renewable Energy Contracts | PSNH
Unrecorded Unconditional Purchase Obligation [Line Items]
Unrecorded unconditional purchase obligation	$ 503.2

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COMMITMENTS AND CONTINGENCIES - Guarantees and Indemnifications Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Fair value of guarantees	$ 1.9	$ 4.4

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COMMITMENTS AND CONTINGENCIES - Schedule of Guarantees and Indemnifications (Details) - USD ($) $ in Millions	Jul. 09, 2024	Jun. 30, 2024
Eversource Investment LLC | Letters of Credit
Guarantor Obligations [Line Items]
Maximum Exposure		$ 23.2
Maximum borrowing capacity		$ 25.0
North East Offshore, LLC, Sunrise Wind LLC, Revolution Wind, LLC and South Fork Wind, LLC
Guarantor Obligations [Line Items]
Ownership interest (percent)		50.00%
Eversource Investment LLC and South Fork Class B Member, LLC
Guarantor Obligations [Line Items]
Maximum Exposure		$ 1,520.0
South Fork Wind, LLC
Guarantor Obligations [Line Items]
Maximum Exposure		$ 7.1
Ownership interest (percent)		50.00%
South Fork Class B Member, LLC
Guarantor Obligations [Line Items]
Ownership interest (percent)		50.00%
Tax Equity | Eversource TEI LLC
Guarantor Obligations [Line Items]
Maximum Exposure		$ 50.0
North East Offshore, LLC, Sunrise Wind LLC, Revolution Wind, LLC and South Fork Wind, LLC | Construction-related purchase agreements with third-party contractors
Guarantor Obligations [Line Items]
Maximum Exposure		1,418.1
North East Offshore, LLC, Sunrise Wind LLC, Revolution Wind, LLC and South Fork Wind, LLC | Performance Guarantee
Guarantor Obligations [Line Items]
Maximum Exposure		2,830.0
Eversource Investment LLC and South Fork Class B Member, LLC | Funding and indemnification obligations of North East Offshore LLC
Guarantor Obligations [Line Items]
Maximum Exposure		333.9
Eversource Investment LLC | Letters Of Credit Guarantee
Guarantor Obligations [Line Items]
Maximum Exposure		23.2
Eversource TEI LLC | South Fork Wind Tax Equity
Guarantor Obligations [Line Items]
Maximum Exposure		50.0
South Fork Wind, LLC | Power Purchase Guarantee
Guarantor Obligations [Line Items]
Maximum Exposure		7.1
Various Eversource subsidiaries | Surety Bond
Guarantor Obligations [Line Items]
Maximum Exposure		35.1
North East Offshore LLC | Payment Guarantee
Guarantor Obligations [Line Items]
Maximum Exposure		$ 62.5
Percent of obligations guaranteed (in percent)		50.00%
Sunrise Wind, LLC | Subsequent Event
Guarantor Obligations [Line Items]
Maximum Exposure	$ 557.2
Sunrise Wind, LLC | Sunrise Wind, LLC | Letters of Credit | Subsequent Event
Guarantor Obligations [Line Items]
Maximum Exposure	$ 17.8
Orsted | Sunrise Wind, LLC | Subsequent Event
Guarantor Obligations [Line Items]
Ownership interest (percent)	50.00%
North East Offshore, LLC and Sunrise Wind, LLC | Funding and indemnification obligations of North East Offshore LLC
Guarantor Obligations [Line Items]
Maximum Exposure		$ 598.6
North East Offshore, LLC and Sunrise Wind, LLC | Funding and indemnification obligations of North East Offshore LLC | Subsequent Event
Guarantor Obligations [Line Items]
Maximum Exposure	$ 1,200.0
TurbineCo, LLC and Sunrise Wind, LLC | Funding and indemnification obligations of North East Offshore LLC | Subsequent Event
Guarantor Obligations [Line Items]
Maximum Exposure	$ 523.8

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COMMITMENTS AND CONTINGENCIES - Spent Nuclear Fuel Obligations - Yankee Companies (Details) - Yankee Companies - USD ($) $ in Millions	Jun. 08, 2022	Mar. 25, 2021
Loss Contingencies [Line Items]
Damages sought	$ 33.1
CYAPC, YAEC, and MYAPC
Loss Contingencies [Line Items]
Damages sought		$ 120.4

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COMMITMENTS AND CONTINGENCIES - FERC ROE Complaints (Details) $ in Millions			6 Months Ended	36 Months Ended
	Apr. 29, 2016 complaint	Oct. 16, 2014	Jun. 30, 2024 USD ($) period	Oct. 15, 2014	Dec. 31, 2023 USD ($)	Dec. 23, 2019 complaint	Nov. 21, 2019 complaint	Oct. 16, 2018 complaint	Jul. 31, 2014 complaint
Loss Contingencies [Line Items]
Percentage of base ROE reasonably justified (in percent)			10.41%
Percentage of incentive cap on total ROE (in percent)			13.08%
FERC ROE Complaints
Loss Contingencies [Line Items]
Number of complaints filed | complaint	4					4	2	4
Period of complaint			15 months
Basis point change			0.10%
Estimate of possible loss for each 10 basis point change to base ROE			$ 3.0
Number of complain periods | period			4
FERC ROE First, Second and Third Complaints
Loss Contingencies [Line Items]
Number of complaints filed | complaint									3
Base ROE subsequently authorized			11.14%
FERC ROE First, Second and Third Complaints | Minimum
Loss Contingencies [Line Items]
Percentage of maximum ROE for any incentive project				11.14%
FERC ROE First, Second and Third Complaints | Maximum
Loss Contingencies [Line Items]
Percentage of maximum ROE for any incentive project				13.10%
FERC ROE Fourth Complaint
Loss Contingencies [Line Items]
Base ROE percentage of complaint period	10.57%
Maximum percentage cap of ROE for incentive projects	11.74%
FERC ROE First Complaint
Loss Contingencies [Line Items]
Base ROE subsequently authorized		10.57%
Percentage of maximum ROE for any incentive project		11.74%
Amounts associated with first complaint refunded			$ 38.9
FERC ROE First Complaint | CL&P
Loss Contingencies [Line Items]
Amounts associated with first complaint refunded			22.4
FERC ROE First Complaint | NSTAR Electric
Loss Contingencies [Line Items]
Amounts associated with first complaint refunded			13.7
FERC ROE First Complaint | PSNH
Loss Contingencies [Line Items]
Amounts associated with first complaint refunded			$ 2.8
FERC ROE Second Complaint
Loss Contingencies [Line Items]
Base ROE percentage of complaint period			10.57%
Percentage of maximum ROE for any incentive project			11.74%
Loss contingency, estimate of possible earnings impact			$ 39.1		$ 39.1
FERC ROE Second Complaint | CL&P
Loss Contingencies [Line Items]
Loss contingency, estimate of possible earnings impact			21.4		21.4
FERC ROE Second Complaint | NSTAR Electric
Loss Contingencies [Line Items]
Loss contingency, estimate of possible earnings impact			14.6		14.6
FERC ROE Second Complaint | PSNH
Loss Contingencies [Line Items]
Loss contingency, estimate of possible earnings impact			$ 3.1		$ 3.1

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FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Preferred Stock Not Subject to Mandatory Redemption	$ 155,568	$ 155,569
Rate Reduction Bonds	345,677	367,282
Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Preferred Stock Not Subject to Mandatory Redemption	155,600	155,600
Long-Term Debt	27,164,300	24,413,500
Rate Reduction Bonds	388,900	410,500
Fair Value | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Preferred Stock Not Subject to Mandatory Redemption	121,800	122,200
Long-Term Debt	25,027,700	22,855,200
Rate Reduction Bonds	368,800	395,000
CL&P
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Preferred Stock Not Subject to Mandatory Redemption	116,200	116,200
CL&P | Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Preferred Stock Not Subject to Mandatory Redemption	116,200	116,200
Long-Term Debt	4,954,100	4,814,400
Rate Reduction Bonds	0	0
CL&P | Fair Value | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Preferred Stock Not Subject to Mandatory Redemption	89,600	90,400
Long-Term Debt	4,537,700	4,572,000
Rate Reduction Bonds	0	0
NSTAR Electric
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Preferred Stock Not Subject to Mandatory Redemption	43,000	43,000
NSTAR Electric | Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Preferred Stock Not Subject to Mandatory Redemption	43,000	43,000
Long-Term Debt	5,093,000	4,496,900
Rate Reduction Bonds	0	0
NSTAR Electric | Fair Value | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Preferred Stock Not Subject to Mandatory Redemption	32,200	31,800
Long-Term Debt	4,723,900	4,273,700
Rate Reduction Bonds	0	0
PSNH
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Rate Reduction Bonds	345,677	367,282
PSNH | Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Preferred Stock Not Subject to Mandatory Redemption	0	0
Long-Term Debt	1,731,500	1,431,600
Rate Reduction Bonds	388,900	410,500
PSNH | Fair Value | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Preferred Stock Not Subject to Mandatory Redemption	0	0
Long-Term Debt	1,527,200	1,292,600
Rate Reduction Bonds	$ 368,800	$ 395,000

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ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS) (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
AOCI Attributable to Parent [Roll Forward]
OCI Before Reclassifications					$ (900)	$ 100
Amounts Reclassified from AOCI					5,000	7,200
Other Comprehensive (Loss)/Income, Net of Tax	$ (1,047)	$ 5,203	$ 4,088	$ 3,230	4,156	7,318
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent [Roll Forward]
Balance as of Beginning of Period		(33,700)		(39,400)	(33,700)	(39,400)
Other Comprehensive (Loss)/Income, Net of Tax	(1,047)	5,203	4,088	3,230
Balance as of End of Period	(29,600)		(32,100)		(29,600)	(32,100)
Qualified Cash Flow Hedging Instruments
AOCI Attributable to Parent [Roll Forward]
Balance as of Beginning of Period		(400)		(400)	(400)	(400)
OCI Before Reclassifications					0	0
Amounts Reclassified from AOCI					0	0
Other Comprehensive (Loss)/Income, Net of Tax					0	0
Balance as of End of Period	(400)		(400)		(400)	(400)
Unrealized Gains/(Losses) on Marketable Securities
AOCI Attributable to Parent [Roll Forward]
Balance as of Beginning of Period				(1,200)		(1,200)
OCI Before Reclassifications						0
Amounts Reclassified from AOCI						1,200
Other Comprehensive (Loss)/Income, Net of Tax						1,200
Balance as of End of Period			0			0
Defined Benefit Plans
AOCI Attributable to Parent [Roll Forward]
Balance as of Beginning of Period		$ (33,300)		$ (37,800)	(33,300)	(37,800)
OCI Before Reclassifications					(900)	100
Amounts Reclassified from AOCI					5,000	6,000
Other Comprehensive (Loss)/Income, Net of Tax					4,100	6,100
Balance as of End of Period	$ (29,200)		$ (31,700)		$ (29,200)	$ (31,700)

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COMMON SHARES - Common Shares Authorized and Issued (Details) - $ / shares	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023
Class of Stock [Line Items]
Par value (in dollars per share)	$ 5	$ 5	$ 5
Authorized (in shares)	410,000,000		410,000,000
Issued (in shares)	364,190,722		359,984,073
CL&P
Class of Stock [Line Items]
Par value (in dollars per share)	$ 10		$ 10
Authorized (in shares)	24,500,000		24,500,000
Issued (in shares)	6,035,205		6,035,205
NSTAR Electric
Class of Stock [Line Items]
Par value (in dollars per share)	$ 1		$ 1
Authorized (in shares)	100,000,000		100,000,000
Issued (in shares)	200		200
PSNH
Class of Stock [Line Items]
Par value (in dollars per share)	$ 1		$ 1
Authorized (in shares)	100,000,000		100,000,000
Issued (in shares)	301		301

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COMMON SHARES - Narrative (Details) - USD ($) $ in Millions		6 Months Ended	12 Months Ended
	May 11, 2022	Jun. 30, 2024	Dec. 31, 2023
Equity [Abstract]
Sale of stock, issuance of common stock, maximum	$ 1,200.0
Sale of stock, number of shares issued in transaction (in shares)		4,206,649	0
Sale of stock, consideration received on transaction		$ 248.2
Treasury stock, common (in shares)		9,624,651	10,443,807
Common stock outstanding (in shares)		354,566,071	349,540,266

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COMMON SHAREHOLDERS' EQUITY AND NONCONTROLLING INTERESTS (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Noncontrolling Interest [Line Items]
Dividends on preferred stock	$ 1,880	$ 1,880	$ 1,880	$ 1,880
Noncontrolling interest attributed to preferred stock of subsidiaries	155,568				$ 155,568		$ 155,569
CL&P and NSTAR
Noncontrolling Interest [Line Items]
Dividends on preferred stock	$ 1,900		$ 1,900		$ 3,800	$ 3,800

XML

EARNINGS PER SHARE - Narrative (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Earnings Per Share [Abstract]
Antidilutive share awards excluded from the EPS computation (in shares)	0	0	0	0

XML

EARNINGS PER SHARE - Components of Basic and Diluted EPS (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Earnings Per Share [Abstract]
Net Income Attributable to Common Shareholders	$ 335,341	$ 15,422	$ 857,190	$ 506,581
Net Income Attributable to Common Shareholders	$ 335,300	$ 15,400	$ 857,200	$ 506,600
Weighted Average Common Shares Outstanding:
Basic (in shares)	353,212,378	349,462,359	351,964,747	349,339,752
Dilutive effect (in shares)	207,280	267,623	243,693	331,244
Diluted (in shares)	353,419,658	349,729,982	352,208,440	349,670,996
Basic EPS (in dollars per share)	$ 0.95	$ 0.04	$ 2.44	$ 1.45
Diluted EPS (in dollars per share)	$ 0.95	$ 0.04	$ 2.43	$ 1.45

XML

REVENUES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	$ 2,515,300	$ 2,625,600	$ 5,792,100	$ 6,377,500
Alternative Revenue Programs	13,500	(2,700)	62,600	34,200
Other Revenues	4,700	6,400	11,400	13,300
Operating Revenues	2,533,522	2,629,342	5,866,097	6,424,985
CL&P
Disaggregation of Revenue [Line Items]
Operating Revenues	964,623	1,034,148	2,085,914	2,373,054
NSTAR Electric
Disaggregation of Revenue [Line Items]
Operating Revenues	845,068	818,968	1,792,683	1,775,251
PSNH
Disaggregation of Revenue [Line Items]
Operating Revenues	287,311	350,070	613,427	770,225
Total Retail Tariff Sales Revenues
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	2,206,300	2,341,700	5,110,700	5,688,800
Residential
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	1,269,400	1,379,500	3,061,300	3,449,000
Commercial
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	816,300	839,000	1,785,300	1,961,900
Industrial
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	120,600	123,200	264,100	277,900
Wholesale Transmission Revenues
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	116,800	99,200	229,300	209,000
Wholesale Market Sales Revenues
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	168,000	153,100	392,500	420,300
Other Revenues from Contracts with Customers
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	24,200	31,600	59,600	59,400
Operating Segments | CL&P
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	1,112,000	1,124,200	2,362,900	2,576,000
Alternative Revenue Programs	23,900	52,600	51,300	77,300
Other Revenues	1,500	2,500	4,300	4,700
Operating Segments | NSTAR Electric
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	1,006,000	961,100	2,103,100	2,065,500
Alternative Revenue Programs	4,200	(5,000)	12,000	(14,500)
Other Revenues	1,600	1,800	3,600	4,300
Operating Segments | PSNH
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	348,100	375,600	722,000	836,700
Alternative Revenue Programs	3,400	21,900	11,000	31,500
Other Revenues	600	700	1,400	1,700
Operating Segments | Total Retail Tariff Sales Revenues | CL&P
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	794,300	880,000	1,706,800	1,971,400
Operating Segments | Total Retail Tariff Sales Revenues | NSTAR Electric
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	764,800	748,800	1,630,400	1,633,600
Operating Segments | Total Retail Tariff Sales Revenues | PSNH
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	241,800	290,700	513,400	655,900
Operating Segments | Residential | CL&P
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	513,700	593,700	1,140,600	1,355,900
Operating Segments | Residential | NSTAR Electric
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	380,200	370,500	842,400	838,300
Operating Segments | Residential | PSNH
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	133,600	178,000	298,600	412,000
Operating Segments | Commercial | CL&P
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	248,000	255,000	500,400	550,300
Operating Segments | Commercial | NSTAR Electric
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	354,400	347,200	727,900	731,500
Operating Segments | Commercial | PSNH
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	81,100	90,200	163,100	198,800
Operating Segments | Industrial | CL&P
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	32,600	31,300	65,800	65,200
Operating Segments | Industrial | NSTAR Electric
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	30,200	31,100	60,100	63,800
Operating Segments | Industrial | PSNH
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	27,100	22,500	51,700	45,100
Operating Segments | Wholesale Transmission Revenues | CL&P
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	218,800	172,500	419,500	368,300
Operating Segments | Wholesale Transmission Revenues | NSTAR Electric
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	200,900	166,900	389,700	334,700
Operating Segments | Wholesale Transmission Revenues | PSNH
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	93,200	63,600	177,800	135,100
Operating Segments | Wholesale Market Sales Revenues | CL&P
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	97,400	62,900	218,600	217,600
Operating Segments | Wholesale Market Sales Revenues | NSTAR Electric
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	27,000	32,500	58,600	73,600
Operating Segments | Wholesale Market Sales Revenues | PSNH
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	7,600	16,900	20,100	38,400
Operating Segments | Other Revenues from Contracts with Customers | CL&P
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	1,500	8,800	18,000	18,700
Operating Segments | Other Revenues from Contracts with Customers | NSTAR Electric
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	13,300	12,900	24,400	23,600
Operating Segments | Other Revenues from Contracts with Customers | PSNH
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	5,500	4,400	10,700	7,300
Other
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	395,200	408,800	838,800	822,700
Alternative Revenue Programs	0	0	0	0
Other Revenues	0	0	0	0
Operating Revenues	395,200	408,800	838,800	822,700
Other | Total Retail Tariff Sales Revenues
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	0	0	0	0
Other | Residential
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	0	0	0	0
Other | Commercial
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	0	0	0	0
Other | Industrial
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	0	0	0	0
Other | Wholesale Transmission Revenues
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	0	0	0	0
Other | Wholesale Market Sales Revenues
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	0	0	0	0
Other | Other Revenues from Contracts with Customers
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	395,200	408,800	838,800	822,700
Eliminations
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	(797,300)	(715,500)	(1,607,200)	(1,459,400)
Alternative Revenue Programs	(15,800)	(65,700)	(42,600)	(82,700)
Other Revenues	0	0	0	0
Operating Revenues	(813,100)	(781,200)	(1,649,800)	(1,542,100)
Eliminations | Total Retail Tariff Sales Revenues
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	(7,500)	(5,900)	(14,300)	(12,000)
Eliminations | Residential
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	0	0	0	0
Eliminations | Commercial
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	(1,500)	(1,200)	(3,200)	(2,300)
Eliminations | Industrial
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	(6,000)	(4,700)	(11,100)	(9,700)
Eliminations | Wholesale Transmission Revenues
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	(396,100)	(303,800)	(757,700)	(629,100)
Eliminations | Wholesale Market Sales Revenues
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	0	0	0	0
Eliminations | Other Revenues from Contracts with Customers
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	(393,700)	(405,800)	(835,200)	(818,300)
Consolidations Eliminations | CL&P
Disaggregation of Revenue [Line Items]
Operating Revenues	(172,800)	(145,200)	(332,600)	(284,900)
Consolidations Eliminations | NSTAR Electric
Disaggregation of Revenue [Line Items]
Operating Revenues	(166,700)	(138,900)	(326,000)	(280,000)
Consolidations Eliminations | PSNH
Disaggregation of Revenue [Line Items]
Operating Revenues	(64,800)	(48,100)	(121,000)	(99,700)
Electric Distribution | Operating Segments
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	1,948,700	2,052,500	4,191,700	4,629,600
Alternative Revenue Programs	14,000	(3,000)	27,300	3,100
Other Revenues	3,600	4,900	9,000	10,300
Operating Revenues	1,966,300	2,054,400	4,228,000	4,643,000
Electric Distribution | Operating Segments | Total Retail Tariff Sales Revenues
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	1,800,600	1,919,200	3,849,900	4,260,800
Electric Distribution | Operating Segments | Residential
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	1,027,500	1,142,200	2,281,600	2,606,200
Electric Distribution | Operating Segments | Commercial
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	683,200	692,100	1,390,700	1,480,500
Electric Distribution | Operating Segments | Industrial
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	89,900	84,900	177,600	174,100
Electric Distribution | Operating Segments | Wholesale Transmission Revenues
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	0	0	0	0
Electric Distribution | Operating Segments | Wholesale Market Sales Revenues
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	132,000	112,300	297,300	329,600
Electric Distribution | Operating Segments | Other Revenues from Contracts with Customers
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	16,100	21,000	44,500	39,200
Natural Gas Distribution | Operating Segments
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	392,600	411,100	1,266,400	1,427,900
Alternative Revenue Programs	200	(3,100)	31,600	24,300
Other Revenues	700	1,100	1,500	2,100
Operating Revenues	393,500	409,100	1,299,500	1,454,300
Natural Gas Distribution | Operating Segments | Total Retail Tariff Sales Revenues
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	356,100	370,200	1,170,500	1,336,300
Natural Gas Distribution | Operating Segments | Residential
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	204,100	198,400	711,700	774,900
Natural Gas Distribution | Operating Segments | Commercial
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	116,400	129,900	363,400	450,000
Natural Gas Distribution | Operating Segments | Industrial
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	35,600	41,900	95,400	111,400
Natural Gas Distribution | Operating Segments | Wholesale Transmission Revenues
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	0	0	0	0
Natural Gas Distribution | Operating Segments | Wholesale Market Sales Revenues
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	35,000	39,800	93,300	88,900
Natural Gas Distribution | Operating Segments | Other Revenues from Contracts with Customers
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	1,500	1,100	2,600	2,700
Electric Transmission | Operating Segments
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	516,500	407,500	994,600	847,200
Alternative Revenue Programs	17,500	72,500	47,000	91,200
Other Revenues	100	100	300	400
Operating Revenues	534,100	480,100	1,041,900	938,800
Electric Transmission | Operating Segments | Total Retail Tariff Sales Revenues
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	0	0	0	0
Electric Transmission | Operating Segments | Residential
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	0	0	0	0
Electric Transmission | Operating Segments | Commercial
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	0	0	0	0
Electric Transmission | Operating Segments | Industrial
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	0	0	0	0
Electric Transmission | Operating Segments | Wholesale Transmission Revenues
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	512,900	403,000	987,000	838,100
Electric Transmission | Operating Segments | Wholesale Market Sales Revenues
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	0	0	0	0
Electric Transmission | Operating Segments | Other Revenues from Contracts with Customers
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	3,600	4,500	7,600	9,100
Water Distribution | Operating Segments
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	59,600	61,200	107,800	109,500
Alternative Revenue Programs	(2,400)	(3,400)	(700)	(1,700)
Other Revenues	300	300	600	500
Operating Revenues	57,500	58,100	107,700	108,300
Water Distribution | Operating Segments | Total Retail Tariff Sales Revenues
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	57,100	58,200	104,600	103,700
Water Distribution | Operating Segments | Residential
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	37,800	38,900	68,000	67,900
Water Distribution | Operating Segments | Commercial
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	18,200	18,200	34,400	33,700
Water Distribution | Operating Segments | Industrial
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	1,100	1,100	2,200	2,100
Water Distribution | Operating Segments | Wholesale Transmission Revenues
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	0	0	0	0
Water Distribution | Operating Segments | Wholesale Market Sales Revenues
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	1,000	1,000	1,900	1,800
Water Distribution | Operating Segments | Other Revenues from Contracts with Customers
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	$ 1,500	$ 2,000	$ 1,300	$ 4,000

XML

SEGMENT INFORMATION - Narrative (Details) $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($) reportableSegment
CL&P
Segment Reporting Information [Line Items]
Number of reportable segments	1
NSTAR Electric
Segment Reporting Information [Line Items]
Number of reportable segments	1
PSNH
Segment Reporting Information [Line Items]
Number of reportable segments	1
Related Party
Segment Reporting Information [Line Items]
Amount of natural gas transmission purchased | $	$ 77.7

XML

SEGMENT INFORMATION - Summary of Segment Information and Segmented Total Assets (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting Information [Line Items]
Operating Revenues	$ 2,533,522		$ 2,629,342	$ 5,866,097	$ 6,424,985
Depreciation and Amortization	(240,400)		(101,500)	(578,000)	(338,500)
Other Operating Expenses	(1,690,600)		(1,967,100)	(3,839,600)	(4,776,300)
Operating Income	602,498		560,662	1,448,470	1,310,234
Interest Expense	(271,300)		(207,300)	(522,100)	(401,900)
Impairment of Offshore Wind Investment	0	$ (1,770,000)	(401,000)	0	(401,000)
Other Income, Net	115,285		94,875	206,315	183,857
Net Income Attributable to Common Shareholders	335,341		15,422	857,190	506,581
Cash Flows Used for Investments in Plant				2,220,900	2,039,500
Assets	58,352,454	55,612,245		58,352,454
Other
Segment Reporting Information [Line Items]
Operating Revenues	395,200		408,800	838,800	822,700
Depreciation and Amortization	(48,500)		(38,000)	(94,100)	(74,800)
Other Operating Expenses	(314,200)		(337,200)	(663,700)	(676,900)
Operating Income	32,500		33,600	81,000	71,000
Interest Expense	(161,000)		(100,600)	(307,200)	(185,700)
Impairment of Offshore Wind Investment			(401,000)		(401,000)
Other Income, Net	473,500		100,900	1,096,200	666,800
Net Income Attributable to Common Shareholders	351,800		(292,400)	892,300	224,700
Cash Flows Used for Investments in Plant				125,600	139,100
Assets	28,662,100	26,337,700		28,662,100
Eliminations
Segment Reporting Information [Line Items]
Operating Revenues	(813,100)		(781,200)	(1,649,800)	(1,542,100)
Depreciation and Amortization	2,700		2,200	5,200	4,300
Other Operating Expenses	810,400		779,500	1,644,600	1,538,800
Operating Income	0		500	0	1,000
Interest Expense	58,600		34,400	113,300	66,400
Impairment of Offshore Wind Investment			0		0
Other Income, Net	(448,900)		(74,600)	(1,063,000)	(625,300)
Net Income Attributable to Common Shareholders	(390,300)		(39,700)	(949,700)	(557,900)
Cash Flows Used for Investments in Plant				0	0
Assets	(28,726,000)	(26,678,500)		(28,726,000)
Electric Distribution | Operating Segments
Segment Reporting Information [Line Items]
Operating Revenues	1,966,300		2,054,400	4,228,000	4,643,000
Depreciation and Amortization	(34,900)		82,100	(144,600)	60,000
Other Operating Expenses	(1,713,600)		(1,905,200)	(3,618,700)	(4,247,400)
Operating Income	217,800		231,300	464,700	455,600
Interest Expense	(90,900)		(68,200)	(173,400)	(137,600)
Impairment of Offshore Wind Investment			0		0
Other Income, Net	67,000		47,900	123,500	102,100
Net Income Attributable to Common Shareholders	149,700		165,500	317,900	331,000
Cash Flows Used for Investments in Plant				883,600	817,300
Assets	30,943,900	29,426,400		30,943,900
Natural Gas Distribution | Operating Segments
Segment Reporting Information [Line Items]
Operating Revenues	393,500		409,100	1,299,500	1,454,300
Depreciation and Amortization	(50,100)		(41,700)	(133,200)	(118,700)
Other Operating Expenses	(295,200)		(339,400)	(849,800)	(1,069,800)
Operating Income	48,200		28,000	316,500	265,800
Interest Expense	(22,300)		(21,500)	(46,800)	(42,700)
Impairment of Offshore Wind Investment			0		0
Other Income, Net	10,900		9,700	21,000	18,700
Net Income Attributable to Common Shareholders	27,100		11,700	217,600	181,900
Cash Flows Used for Investments in Plant				467,900	371,500
Assets	9,036,600	8,775,300		9,036,600
Electric Transmission | Operating Segments
Segment Reporting Information [Line Items]
Operating Revenues	534,100		480,100	1,041,900	938,800
Depreciation and Amortization	(98,800)		(92,000)	(199,800)	(181,900)
Other Operating Expenses	(147,100)		(136,200)	(289,000)	(264,500)
Operating Income	288,200		251,900	553,100	492,400
Interest Expense	(46,000)		(42,200)	(86,900)	(83,700)
Impairment of Offshore Wind Investment			0		0
Other Income, Net	12,200		9,500	26,300	18,900
Net Income Attributable to Common Shareholders	189,000		161,000	365,700	316,100
Cash Flows Used for Investments in Plant				668,100	636,900
Assets	15,417,300	14,806,500		15,417,300
Water Distribution | Operating Segments
Segment Reporting Information [Line Items]
Operating Revenues	57,500		58,100	107,700	108,300
Depreciation and Amortization	(10,800)		(14,100)	(11,500)	(27,400)
Other Operating Expenses	(30,900)		(28,600)	(63,000)	(56,500)
Operating Income	15,800		15,400	33,200	24,400
Interest Expense	(9,700)		(9,200)	(21,100)	(18,600)
Impairment of Offshore Wind Investment			0		0
Other Income, Net	600		1,500	2,300	2,700
Net Income Attributable to Common Shareholders	8,000		$ 9,300	13,400	10,800
Cash Flows Used for Investments in Plant				75,700	$ 74,700
Assets	$ 3,018,600	$ 2,944,800		$ 3,018,600