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SHORT-TERM AND LONG-TERM DEBT
 9 Months Ended
Sep. 30, 2022
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 15, 2027. 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 15, 2027. This revolving credit facility 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 ofAvailable Borrowing Capacity as ofWeighted-Average Interest Rate as of
September 30, 2022December 31, 2021September 30, 2022December 31, 2021September 30, 2022December 31, 2021
(Millions of Dollars)
Eversource Parent Commercial Paper Program $401.5 $1,343.0 $1,598.5 $657.0 3.34 %0.31 %
NSTAR Electric Commercial Paper Program — 162.5 650.0 487.5 — %0.14 %

There were no borrowings outstanding on the revolving credit facilities as of September 30, 2022 or December 31, 2021.

CL&P and PSNH have uncommitted line of credit agreements totaling $450 million and $300 million, respectively, which will expire on May 12, 2023. There are no borrowings outstanding on either the CL&P or PSNH uncommitted line of credit agreements as of September 30, 2022.

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.

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 September 30, 2022, there were intercompany loans from Eversource parent to CL&P of $26.0 million, to PSNH of $139.7 million, and to a subsidiary of NSTAR Electric of $2.8 million. As of December 31, 2021, there were intercompany loans from Eversource parent to PSNH of $110.6 million. 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.

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.
Availability under Long-Term Debt Issuance Authorizations: On June 14, 2022, the DPU approved NSTAR Gas’ request for authorization to issue up to $325 million in long-term debt through December 31, 2024.

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
NSTAR Electric 4.55% 2022 Debentures
$450.0 May 2022June 2052Repaid short-term debt, paid capital expenditures and working capital
NSTAR Electric 4.95% 2022 Debentures
400.0 September 2022September 2052Refinanced investments in eligible green expenditures, which were previously financed using short-term debt from October 1, 2020 through June 30, 2022
NSTAR Electric 2.375% 2012 Debentures
(400.0)October 2022October 2022Paid at maturity
Eversource Parent 2.90% Series V Senior Notes
650.0 February 2022March 2027
Repaid Series K Senior Notes at maturity and short-term debt
Eversource Parent 3.375% Series W Senior Notes
650.0 February 2022March 2032
Repaid Series K Senior Notes at maturity and short-term debt
Eversource Parent 4.20% Series X Senior Notes
900.0 June 2022June 2024Repaid short-term debt and paid working capital
Eversource Parent 4.60% Series Y Senior Notes
600.0 June 2022July 2027Repaid short-term debt and paid working capital
Eversource Parent 2.75% Series K Senior Notes
(750.0)March 2022March 2022Paid at maturity
Yankee Gas 8.48% Series B First Mortgage Bonds
(20.0)March 2022March 2022Paid at maturity
Yankee Gas 4.31% Series U First Mortgage Bonds
100.0 September 2022September 2032Repaid short-term debt, paid capital expenditures and for general corporate purposes
EGMA 4.70% Series C First Mortgage Bonds
100.0 June 2022June 2052Repaid short-term debt, paid capital expenditures and for general corporate purposes
NSTAR Gas 4.40% Series V First Mortgage Bonds
125.0 July 2022August 2032Repaid short-term debt, paid capital expenditures and for general corporate purposes
Aquarion Water Company of New Hampshire 4.45% General Mortgage Bonds
(5.0)0July 2022July 2022Paid at maturity
Aquarion Water Company of Connecticut 4.69% Senior Notes
70.0 August 2022September 2052Repaid short-term debt

Cash Equivalents on the Eversource and NSTAR Electric balance sheets as of September 30, 2022 comprise a money market fund that primarily included proceeds received from an NSTAR Electric $400 million long-term debt issuance on September 15, 2022 that was used to pay $400 million of long-term debt that matured on October 15, 2022.