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SHORT-TERM AND LONG-TERM DEBT
 9 Months Ended
Sep. 30, 2023
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, and 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, 2023December 31, 2022September 30, 2023December 31, 2022September 30, 2023December 31, 2022
(Millions of Dollars)
Eversource Parent Commercial Paper Program $1,320.3 $1,442.2 $679.7 $557.8 5.53 %4.63 %
NSTAR Electric Commercial Paper Program 209.5 — 440.5 650.0 5.35 %— %

There were no borrowings outstanding on the revolving credit facilities as of September 30, 2023 or December 31, 2022.

CL&P and PSNH have uncommitted line of credit agreements totaling $375 million and $250 million, respectively, which will expire in 2024. There are no borrowings outstanding on either the CL&P or PSNH uncommitted line of credit agreements as of September 30, 2023.

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, 2023, there were intercompany loans from Eversource parent to CL&P of $213.4 million and to PSNH of $0.1 million. As of December 31, 2022, there were intercompany loans from Eversource parent to PSNH of $173.3 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.

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 7, 2023, PURA approved Yankee Gas’ request for authorization to issue up to $350 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)Interest RateIssuance/(Repayment)Issue Date or Repayment DateMaturity DateUse of Proceeds for Issuance/
Repayment Information
CL&P 2023 Series A First Mortgage Bonds5.25 %$500.0 January 2023January 2053Repaid 2013 Series A Bonds at maturity and short-term debt, and paid capital expenditures and working capital
CL&P 2013 Series A First Mortgage Bonds2.50 %(400.0)January 2023January 2023Paid at maturity
CL&P 2023 Series B First Mortgage Bonds4.90 %300.0 July 2023July 2033Repaid short-term debt, paid capital expenditures and working capital
NSTAR Electric 2023 Debentures5.60 %150.0 September 2023October 2028Repay Series G Senior Notes at maturity and short-term debt and for general corporate purposes
PSNH Series W First Mortgage Bonds5.15 %300.0 January 2023January 2053Repaid short-term debt, paid capital expenditures and working capital
PSNH Series X First Mortgage Bonds5.35 %300.0 September 2023October 2033Repaid Series S Bonds at maturity and for general corporate purposes
PSNH Series S First Mortgage Bonds3.50 %(325.0)November 2023November 2023Paid at maturity
Eversource Parent Series Z Senior Notes5.45 %750.0 March 2023March 2028
Repaid Series F Senior Notes at maturity and short-term debt
Eversource Parent Series F Senior Notes2.80 %(450.0)May 2023May 2023Paid at maturity
Eversource Parent Series Z Senior Notes5.45 %550.0 May 2023March 2028Repay Series T Senior Notes and Series N Senior Notes at maturity and short-term debt
Eversource Parent Series AA Senior Notes4.75 %450.0 May 2023May 2026Repay Series T Senior Notes and Series N Senior Notes at maturity and short-term debt
Eversource Parent Series BB Senior Notes5.125 %800.0 May 2023May 2033Repay Series T Senior Notes and Series N Senior Notes at maturity and short-term debt
Eversource Parent Variable Rate Series T Senior Notes
SOFR plus 0.25%
(350.0)August 2023August 2023Paid at maturity
Yankee Gas Series V First Mortgage Bonds5.51 %170.0 August 2023August 2030Repaid short-term debt and general corporate purposes
Aquarion Water Company of Connecticut Senior Notes5.89 %50.0 September 2023October 2043Repaid existing indebtedness, paid capital expenditures and general corporate purposes