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LONG-TERM DEBT
 12 Months Ended
Dec. 31, 2020
Debt Disclosure [Abstract]  
LONG-TERM DEBT LONG-TERM DEBT
Details of long-term debt outstanding are as follows:
CL&P
(Millions of Dollars)
As of December 31,
20202019
First Mortgage Bonds:  
7.875% 1994 Series D due 2024
$139.8 $139.8 
5.750% 2004 Series B due 2034
130.0 130.0 
5.625% 2005 Series B due 2035
100.0 100.0 
6.350% 2006 Series A due 2036
250.0 250.0 
5.750% 2007 Series B due 2037
150.0 150.0 
6.375% 2007 Series D due 2037
100.0 100.0 
2.500% 2013 Series A due 2023
400.0 400.0 
4.300% 2014 Series A due 2044  
475.0 475.0 
4.150% 2015 Series A due 2045
350.0 350.0 
   3.200% 2017 Series A due 2027
500.0 500.0 
4.000% 2018 Series A due 2048
800.0 800.0 
0.750% 2020 Series A due 2025
400.0 — 
Total First Mortgage Bonds3,794.8 3,394.8 
Pollution Control Revenue Bonds:  
4.375% Fixed Rate Tax Exempt due 2028
120.5 120.5 
Less Amounts due Within One Year— — 
Unamortized Premiums and Discounts, Net25.9 27.8 
Unamortized Debt Issuance Costs(26.4)(25.0)
CL&P Long-Term Debt$3,914.8 $3,518.1 
NSTAR Electric
(Millions of Dollars)
As of December 31,
20202019
Debentures:  
5.750% due 2036
$200.0 $200.0 
5.500% due 2040
300.0 300.0 
2.375% due 2022
400.0 400.0 
4.400% due 2044  
300.0 300.0 
3.250% due 2025
250.0 250.0 
2.700% due 2026
250.0 250.0 
3.200% due 2027
700.0 700.0 
3.250% due 2029
400.0 400.0 
3.950% due 2030
400.0 — 
Total Debentures3,200.0 2,800.0 
Notes:  
5.900% Senior Notes Series B due 2034
50.0 50.0 
6.700% Senior Notes Series D due 2037
40.0 40.0 
5.100% Senior Notes Series E due 2020
— 95.0 
3.500% Senior Notes Series F due 2021
250.0 250.0 
3.880% Senior Notes Series G due 2023
80.0 80.0 
2.750% Senior Notes Series H due 2026
50.0 50.0 
Total Notes470.0 565.0 
Less Amounts due Within One Year(250.0)(95.0)
Unamortized Premiums and Discounts, Net(6.8)(4.1)
Unamortized Debt Issuance Costs(20.0)(18.8)
NSTAR Electric Long-Term Debt$3,393.2 $3,247.1 
PSNH
(Millions of Dollars)
As of December 31,
20202019
First Mortgage Bonds:  
5.600% Series M due 2035
$50.0 $50.0 
4.050% Series Q due 2021
122.0 122.0 
3.200% Series R due 2021
160.0 160.0 
3.500% Series S due 2023  
325.0 325.0 
3.600% Series T due 2049  
300.0 300.0 
2.400% Series U due 2050
150.0 — 
Total First Mortgage Bonds$1,107.0 $957.0 
Less Amounts due Within One Year(282.0)— 
Unamortized Premiums and Discounts, Net(1.5)(0.7)
Unamortized Debt Issuance Costs(6.4)(4.7)
PSNH Long-Term Debt$817.1 $951.6 
OTHER
(Millions of Dollars)
As of December 31,
20202019
Yankee Gas - First Mortgage Bonds: 2.230% - 8.480% due 2022 - 2050
$640.0 $620.0 
NSTAR Gas - First Mortgage Bonds: 2.330% - 7.110% due 2025 - 2050
500.0 460.0 
Aquarion - Senior Note 4.000% due 2024
360.0 360.0 
Aquarion - Unsecured Notes 0% - 6.430% due 2021 - 2049
335.2 335.3 
Aquarion - Secured Debt 4.450% - 9.290% due 2022 - 2035
35.9 68.8 
Eversource Parent - Senior Notes 0.800% - 4.250% due 2021 - 2050
5,550.0 4,000.0 
Pre-1983 Spent Nuclear Fuel Obligation (CYAPC)11.7 11.6 
Fair Value Adjustment (1)
74.7 109.1 
Less Fair Value Adjustment - Current Portion (1)
(31.0)(31.3)
Less Amounts due in One Year(490.2)(201.1)
Commercial Paper Classified as Long-Term Debt— 346.3 
Unamortized Premiums and Discounts, Net  46.5 (4.1)
Unamortized Debt Issuance Costs (32.0)(20.6)
Total Other Long-Term Debt $7,000.8 $6,054.0 
Total Eversource Long-Term Debt $15,125.9 $13,770.8 

(1)     The fair value adjustment amount is the purchase price adjustments, net of amortization, required to record long-term debt at fair value on the dates of the 2012 merger with NSTAR and the 2017 acquisition of Aquarion.

Long-Term Debt Issuance Authorizations: On January 27, 2020, the DPU approved NSTAR Gas' request for authorization to issue up to $270 million in long-term debt through December 31, 2021. On July 31, 2020, the NHPUC approved PSNH's request for authorization to issue up to $200 million in long-term debt through December 31, 2020. On December 14, 2020, NSTAR Electric filed a petition with the DPU for authorization to issue $1.6 billion in long-term debt through December 31, 2023. On December 16, 2020, Aquarion Water Company of Connecticut filed an application with PURA for authorization to issue $100 million in long-term debt through December 31, 2021.
Long-Term Debt Issuances and Repayments: The following table summarizes long-term debt issuances and repayments:
(Millions of Dollars)Issuance/(Repayment)Issue Date or Repayment DateMaturity DateUse of Proceeds for Issuance/
Repayment Information
CL&P:
0.75% Series A First Mortgage Bonds
$400.0 December 2020December 2025Refinanced short-term borrowings, funded capital expenditures and working capital
NSTAR Electric:
3.95% 2020 Debentures
400.0 March 2020April 2030Refinanced investments in eligible green expenditures, which were previously financed in 2018 and 2019
5.10% Series E Senior Notes
(95.0)March 2020March 2020Paid at maturity
PSNH:
2.40% Series U First Mortgage Bonds
150.0 August 2020September 2050Refinanced short-term borrowings, funded capital expenditures and working capital
Other:
Eversource Parent 3.45% Series P Senior Notes
350.0 January 2020January 2050Paid short-term borrowings
Eversource Parent 3.45% Series P Senior Notes (1)
300.0 August 2020January 2050
 (2)
Eversource Parent 0.80% Series Q Senior Notes
300.0 August 2020August 2025
 (2)
Eversource Parent 1.65% Series R Senior Notes
600.0 August 2020August 2030
 (2)
Eversource Parent 2.50% Series I Senior Notes
(450.0)February 2021March 2021
Paid on par call date in advance of maturity date
NSTAR Gas 4.46% Series N First Mortgage Bonds
(125.0)January 2020January 2020Paid at maturity
NSTAR Gas 2.33% Series R First Mortgage Bonds
75.0 May 2020May 2025Refinanced existing indebtedness, funded capital expenditures and for general corporate purposes
NSTAR Gas 3.15% Series S First Mortgage Bonds
115.0 May 2020May 2050Refinanced existing indebtedness, funded capital expenditures and for general corporate purposes
NSTAR Gas 9.95% Series J First Mortgage Bonds
(25.0)December 2020December 2020Paid at maturity
Yankee Gas 4.87% Series K First Mortgage Bonds
(50.0)April 2020April 2020Paid at maturity
Yankee Gas 2.90% Series R First Mortgage Bonds
70.0 September 2020September 2050Refinanced existing indebtedness, funded capital expenditures and for general corporate purposes
Aquarion Water Company of Massachusetts, Inc. and Aquarion Water Capital of Massachusetts, Inc. various term loans and general mortgage bonds(32.2)July 2020VariousRedeemed long-term debt in conjunction with the sale of assets to the Town of Hingham, Massachusetts

(1) These senior notes are part of the same series issued by Eversource parent in January 2020. The aggregate outstanding principal amount of these senior notes is now $650 million.

(2) The proceeds from these Eversource parent issuances funded a portion of the purchase price for the CMA asset acquisition and refinanced short-term borrowings.

In January 2021, PSNH provided a redemption notice to the holders of the PSNH 4.050% Series Q First Mortgage Bonds that PSNH will redeem the $122 million of bonds on March 1, 2021, the par call date, in advance of the June 1, 2021 maturity date.

Long-Term Debt Provisions:  The utility plant of CL&P, PSNH, Yankee Gas, NSTAR Gas and a portion of Aquarion is subject to the lien of each company's respective first mortgage bond indenture.  The Eversource parent, NSTAR Electric and a portion of Aquarion debt is unsecured. Additionally, the long-term debt agreements provide that Eversource and certain of its subsidiaries must comply with certain covenants as are customarily included in such agreements, including equity requirements for NSTAR Electric, NSTAR Gas and Aquarion.  Under the equity requirements, NSTAR Electric's and Aquarion's senior notes must maintain a certain consolidated indebtedness to capitalization ratio as of the end of any fiscal quarter and NSTAR Gas' outstanding long-term debt must not exceed equity.

CL&P's obligation to repay the Pollution Control Revenue Bonds (PCRBs) is secured by first mortgage bonds.  The first mortgage bonds contain similar terms and provisions as the applicable series of PCRBs.  If CL&P fails to meet its obligations under the first mortgage bonds, then the holder of the first mortgage bonds (the issuer of the PCRBs) would have rights under the first mortgage bonds.  CL&P's tax-exempt PCRBs will be subject to redemption at par on or after September 1, 2021.

Certain secured and unsecured long-term debt securities are callable at redemption price or are subject to make-whole provisions.

No long-term debt defaults have occurred as of December 31, 2020.

CYAPC's Pre-1983 Spent Nuclear Fuel Obligation:  Under the Nuclear Waste Policy Act of 1982, the DOE is responsible for the selection and development of repositories for, and the disposal of, spent nuclear fuel and high-level radioactive waste. CYAPC is obligated to pay the DOE for the costs to dispose of spent nuclear fuel and high-level radioactive waste generated prior to April 7, 1983 (pre-1983 Spent Nuclear Fuel) and recorded an accrual for the full liability thereof to the DOE. This liability accrues interest costs at the 3-month Treasury bill yield rate. For nuclear fuel used to generate electricity prior to April 7, 1983, payment may be made any time prior to the first delivery of spent fuel to the DOE. Fees for disposal of nuclear fuel burned on or after April 7, 1983 were billed to member companies and paid to the DOE.
As of December 31, 2020 and 2019, as a result of consolidating CYAPC, Eversource has consolidated $11.7 million and $11.6 million, respectively, in pre-1983 spent nuclear fuel obligations to the DOE. In December 2019, CYAPC paid $29 million to the DOE to partially settle this obligation. The obligation includes accumulated interest costs of $8.7 million and $8.6 million as of December 31, 2020 and 2019, respectively.  CYAPC maintains a trust to fund amounts due to the DOE for the disposal of pre-1983 spent nuclear fuel.  For further information, see Note 5, "Marketable Securities," to the financial statements.

Long-Term Debt Maturities:  Long-term debt maturities on debt outstanding for the years 2021 through 2025 and thereafter are shown below. These amounts exclude PSNH rate reduction bonds, CYAPC pre-1983 spent nuclear fuel obligation, net unamortized premiums, discounts and debt issuance costs, and other fair value adjustments as of December 31, 2020:
(Millions of Dollars)EversourceCL&PNSTAR ElectricPSNH
2021$1,022.2 $— $250.0 $282.0 
20221,175.2 — 400.0 — 
20231,658.2 400.0 80.0 325.0 
20241,049.9 139.8 — — 
20251,400.0 400.0 250.0 — 
Thereafter9,807.9 2,975.5 2,690.0 500.0 
Total$16,113.4 $3,915.3 $3,670.0 $1,107.0