UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 25, 2018 (January 25, 2018)
EVERSOURCE ENERGY
(Exact name of registrant as specified in its charter)
Massachusetts | 001-05324 | 04-2147929 |
(State or other jurisdiction of organization) | (Commission File Number) | (I.R.S. Employer Identification No.) |
300 Cadwell Drive Springfield, Massachusetts | 01104 |
(Address of principal executive offices) | (Zip Code) |
Registrants telephone number, including area code: (800) 286-5000
Not Applicable
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
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. ☐
Section 7 Regulation FD
Item 7.01 Regulation FD Disclosure.
On January 25, 2018, Eversource Energy and Northern Pass Transmission LLC, a subsidiary of Eversource Energy, issued a news release disclosing that officials in Massachusetts announced today that a bid submitted by Eversource and Hydro-Québec to utilize Northern Pass to deliver significant amounts of hydropower to the New England grid has been selected in the Massachusetts Clean Energy solicitation. With this decision, Northern Pass is well-positioned to provide a firm delivery of 1,090 megawatts of hydropower year-round that will lower energy costs and reduce carbon emissions in the region. A copy of the news release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
The information contained in this Item 7.01, including Exhibit 99.1, shall not be deemed filed with the Securities and Exchange Commission nor incorporated by reference into any registration statement filed by Eversource Energy, The Connecticut Light and Power Company, NSTAR Electric Company or Public Service Company of New Hampshire under the Securities Act of 1933, as amended, unless specified otherwise.
Section 9 Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
Exhibit Number | Description |
99.1 | News release, dated January 25, 2018, issued by Eversource Energy and Northern Pass Transmission LLC disclosing that officials in Massachusetts announced today that a bid submitted by Eversource and Hydro-Québec to utilize Northern Pass to deliver significant amounts of hydropower to the New England grid has been selected in the Massachusetts Clean Energy solicitation. |
[The remainder of this page left blank intentionally.]
2
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
EVERSOURCE ENERGY
(Registrant)
January 25, 2018 By: /S/ GREGORY B. BUTLER
Gregory B. Butler
Executive Vice President
and General Counsel
3
EXHIBIT INDEX
Exhibit Number | Description |
99.1 | News release, dated January 25, 2018, issued by Eversource Energy and Northern Pass Transmission LLC disclosing that officials in Massachusetts announced today that a bid submitted by Eversource and Hydro-Québec to utilize Northern Pass to deliver significant amounts of hydropower to the New England grid has been selected in the Massachusetts Clean Energy solicitation. |
EXHIBIT 99.1
Northern Pass Selected to Advance Massachusetts Clean Energy Goals and Deliver Substantial Benefits to New England
Project will provide clean and affordable power, lower emissions, and local jobs
MANCHESTER, N.H. (January 25, 2018) Officials in Massachusetts announced today that a bid submitted by Eversource and Hydro-Québec (HQ) to utilize Northern Pass Transmission (NPT) to deliver significant amounts of hydropower to the New England grid has been selected in the Massachusetts Clean Energy solicitation. With this decision, Northern Pass is well-positioned to provide a firm delivery of 1,090 megawatts of hydropower year-round that will lower energy costs and reduce carbon emissions in the region.
The clean, affordable power flowing over Northern Pass into the New England grid in 2020 will provide customers in the Commonwealth and throughout the region with much-needed energy price stability and emissions reductions and will deliver significant economic and environmental benefits to the region for years to come, said Eversource Executive Vice President of Enterprise Strategy and Business Development Lee Olivier. We are pleased with the decision announced today, and appreciate the thorough review by the Massachusetts bid evaluation team.
The Northern Pass transmission line begins at the Canadian border in Pittsburg, New Hampshire and extends 192 miles to Deerfield, New Hampshire where it connects to the New England electric grid. More than 80 percent of the line will be located along existing transmission corridors or buried along roadways, eliminating potential view impacts in and around the White Mountain National Forest. Northern Pass will provide a new and robust interconnection path between the Québec and New England electric systems controlled by the regional system operator, ISO-New England.
This is a major milestone in the energy transition underway in the Northeast. We are pleased and proud to be a part of it, said Éric Martel, President and Chief Executive Officer of Hydro-Québec. Hydro-Québecs clean, reliable power, along with our proven delivery capability were highly valued by decision makers.
The solicitation process was the result of a law passed in 2016 by the Massachusetts Legislature to provide new sources of clean energy by 2020. Northern Pass will provide up to 9.4 terawatt hours of hydropower that the Massachusetts legislation requires on an annual basis, while helping the Bay State achieve its clean energy goals. The project will also reduce wholesale energy costs, diversify the regions energy mix, and help fill the gap created by the retirement of older power plants. Northern Pass will also help reduce reliance on fossil-fueled sources, particularly during the winter months when the gas pipeline system into New England is constrained.
The selected bid is a proposal to build an electric transmission line to bring 100 percent hydropower to the New England electric grid. The bid highlights the projects advanced development and Eversources extensive experience in building and operating the electric transmission grid in the region. Northern Pass will deliver clean hydroelectric energy from HQs resources to the New England electric grid.
To provide additional benefits, Northern Pass has finalized an agreement with leading Massachusetts low-income advocates, including Action for Boston Community Development, Action, Inc., and the National Consumer Law Center, which commits $10 million in funding over 20 years to support low-income energy programs and services for Massachusetts low-income customers.
New Hampshire, as the host state for Northern Pass, will receive new property tax revenues and additional benefits to promote community betterment and economic development. The project enjoys strong support from many of New Hampshires business leaders, labor organizations and elected officials.
Northern Pass expects to receive all state and federal permits by early 2018. The Province of Québec recently announced that it has granted HQ a permit to construct the hydroelectric transmission line that will connect with Northern Pass at the U.S. border. All major contractor and equipment contracts are fully executed to begin construction by mid-2018. A comprehensive project labor agreement with the International Brotherhood of Electrical Workers has been executed and is expected to generate thousands of jobs during peak construction for both Massachusetts and New Hampshire workers. Northern Pass is expected to be in service by the end of 2020.
The Northern Pass is a 192-mile electric transmission line project that will bring to New England 1,090 megawatts of clean hydropower. This reliable and affordable source of power will also bring a wide range of benefits to the region, including millions of dollars in energy cost savings and a significant reduction in carbon emissions. To learn more about Northern Pass, go to www.northernpass.us.
Eversource (NYSE: ES) is New Hampshire's largest electric utility, serving more than 500,000 homes and businesses in 211 cities and towns, and also supplies water to approximately 9,300 homes and businesses in Hampton, North Hampton and Rye. Eversource is proud to be recognized as the top contributor to United Way in New Hampshire. Recognized as the top U.S. utility for its energy efficiency programs by the sustainability advocacy organization Ceres, Eversource harnesses the commitment of its more than 8,000 employees across three states to build a single, united company around the mission of safely delivering reliable energy and water with superior customer service. For more information, please visit our website (www.eversource.com) and follow us on Twitter (@eversourceNH) and Facebook (facebook.com/EversourceNH). For more information on our water services, visit www.aquarionwater.com.
CONTACT:
Martin Murray
603-634-2228
martin.murray@eversource.com
Kaitlyn Woods
603-634-2418
kaitlyn.woods@eversource.com
(Z^WI6E_8"_\ ",PZ
M1]IXB*'S=O7:X;IGVQ2SZ1>?VO<7UAJ:VQN$171K<2?=SCG(]: -6$ 0H!'Y
M0VCY./E]N*P/%5BNI3:7:.2OF3N%8=5;RF(/X$ UOPJZPHLT@DD"@,X7&X^N
M.U5KRQ%U>65P9-GV25I N/O94KCVZT 8EA?-J&N:5+,-MPEK<13K_=D5D##\
M^?QK.^SPGX9O=F)/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MH5230+:*33?(#WN!J9"G8?.//'S9_AYXKJM*TC4-,BMK?^U4EM8%"B+[, 2
M/[V:0^'0?#@TH7)&)?-$NSH?,W],_A0!DW6;+Q5J&L)G%K+"EQCO"\8!/X'#
M?@:V/#_)U0CH=1E_DM6DTN,76HR2MYB7X4/&1P %VX]\U%H6C_V)8/;&Y:YW
M2F3>RX/( Q^E %#Q00M_HQ:U:['VE_W*J"7_ ';=CQ[U1D6?3-(UBY^S+IPU
M"5(K:W+#Y&8!"QQP,YS^%='>Z<+R^L;@R;/L HHZ=* *^H?\
M(,NL?\\7_P#037C.C:G>Z)>_:[.(&384^="1@U[=2;1Z#\J /+_^%@Z]_P \
M8/\ OR?\:Z.74;G5_AK=W5VH$SQN"$4CHV.E=;M'H/RI<#&* /.OAFC+J%]N
M5E_=+U&.]:GQ"T0WNF)J,"9FM>'P.60_X'G\Z[' '08HH X;P%K$\VESZ6>+
MB!2UL9 0"#V/T/Z&N=?4/$WAK4II+AI8WE