Eversource Energy Files 2024 10-K

TL;DR

EVERSOURCE ENERGY (ES) FILED 2024 10-K. FINANCIALS OUT.

AI Summary

Eversource Energy, formerly Northeast Utilities, filed its 2024 10-K on February 14, 2025, reporting on its subsidiaries NSTAR Electric Co. and Public Service Co. of New Hampshire. The company, operating in the electric services sector, is headquartered in Springfield, MA, with its mailing address in Berlin, CT. The filing covers the fiscal year ending December 31, 2024.

Why It Matters

This filing provides a comprehensive overview of Eversource Energy's financial performance and operational status for the fiscal year 2024, crucial for investors and stakeholders to assess the company's health and future prospects.

Risk Assessment

Risk Level: low — This is a routine annual filing providing historical financial data and business overview, not indicating immediate new risks.

Key Numbers

• 2024 — Fiscal Year End (The period covered by the 10-K filing.)
• 20250214 — Filing Date (The date the 10-K was officially submitted to the SEC.)

Key Players & Entities

• EVERSOURCE ENERGY (company) — Filer
• NSTAR ELECTRIC CO (company) — Subsidiary
• PUBLIC SERVICE CO OF NEW HAMPSHIRE (company) — Subsidiary
• NORTHEAST UTILITIES (company) — Former Company Name
• 2024 (date) — Fiscal Year End
• February 14, 2025 (date) — Filing Date
• 300 CADWELL DRIVE (location) — Business Address
• SPRINGFIELD (location) — Business City
• MA (location) — Business State
• 01104 (location) — Business Zip Code

FAQ

Key Financial Figures

• $5.00 — nge on which registered Common Shares, $5.00 par value per share ES New York Stock E
• $56.71 — ,968 based on a closing market price of $56.71 per share for the 354,371,098 common sh
• $10.00 — t Light and Power Company Common Stock, $10.00 par value 6,035,205 shares NSTAR Elec
• $1.00 — NSTAR Electric Company Common Stock, $1.00 par value 200 shares Public Service C

Filing Documents

• es-20241231.htm (10-K) — 7463KB
• a202410k-ex102xtrusteecomp.htm (EX-10.2) — 11KB
• a2024eversourceenergyinsid.htm (EX-19) — 30KB
• a2024-ex21subsidiariesofth.htm (EX-21) — 26KB
• a202410k-exhibit23consents.htm (EX-23) — 4KB
• a202410k-ex31eversource.htm (EX-31) — 10KB
• a202410k-ex311eversource.htm (EX-31.1) — 10KB
• a202410k-ex32eversource.htm (EX-32) — 7KB
• a202410k-exhibit31clp.htm (EX-31) — 10KB
• a202410k-exhibit311clp.htm (EX-31.1) — 10KB
• a202410k-exhibit32clp.htm (EX-32) — 7KB
• a202410k-exhibit31nste.htm (EX-31) — 10KB
• a202410k-exhibit311nste.htm (EX-31.1) — 10KB
• a202410k-exhibit32nste.htm (EX-32) — 7KB
• a202410k-exhibit31psnh.htm (EX-31) — 10KB
• a202410k-exhibit311psnh.htm (EX-31.1) — 10KB
• a202410k-exhibit32psnh.htm (EX-32) — 7KB
• a2024eversourceenergyexecu.htm (EX-97) — 29KB
• transmittalletter2016_imag.jpg (GRAPHIC) — 14KB
• es-20241231_g1.jpg (GRAPHIC) — 11KB
• es-20241231_g2.jpg (GRAPHIC) — 317KB
• 0000072741-25-000007.txt ( ) — 39367KB
• es-20241231.xsd (EX-101.SCH) — 197KB
• es-20241231_cal.xml (EX-101.CAL) — 208KB
• es-20241231_def.xml (EX-101.DEF) — 1416KB
• es-20241231_lab.xml (EX-101.LAB) — 1725KB
• es-20241231_pre.xml (EX-101.PRE) — 1754KB
• es-20241231_htm.xml (XML) — 8931KB

Risk Factors

Item 1A. Risk Factors 16

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 22

Cybersecurity

Item 1C. Cybersecurity 22

Properties

Item 2. Properties 23

Legal Proceedings

Item 3. Legal Proceedings 25

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 26 Information About Our Executive Officers 26 PART II

Market for the Registrants' Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for the Registrants' Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 26

Removed and Reserved

Item 6. Removed and Reserved 28

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

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 29

Quantitative and Qualitative Disclosures about Market Risk

Item 7A. Quantitative and Qualitative Disclosures about Market Risk 59

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 60

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 145

Controls and Procedures

Item 9A. Controls and Procedures 145

Other Information

Item 9B. Other Information 145 PART III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 146

Executive Compensation

Item 11. Executive Compensation 146

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 146

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 147

Principal Accountant Fees and Services

Item 14. Principal Accountant Fees and Services 147 PART IV

Exhibits and Financial Statement Schedules

Item 15. Exhibits and Financial Statement Schedules 149

Form 10-K Summary

Item 16. Form 10-K Summary 149

Signatures

Signatures E- 10 iii EVERSOURCE ENERGY AND SUBSIDIARIES THE CONNECTICUT LIGHT AND POWER COMPANY NSTAR ELECTRIC COMPANY AND SUBSIDIARY PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE AND SUBSIDIARIES SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 References in this Annual Report on Form 10-K to "Eversource," the "Company," "we," "our," and "us" refer to Eversource Energy and its consolidated subsidiaries. CL&P, NSTAR Electric, and PSNH are each doing business as Eversource Energy. 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 U.S. federal securities laws. You can generally identify our forward-looking statements through the use of words or phrases such as "estimate," "expect," "pending," "anticipate," "intend," "plan," "project," "believe," "forecast," "would," "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 cu

Business

Item 1. Business Please refer to the Glossary of Terms for definitions of defined terms and abbreviations used in this combined Annual Report on Form 10-K. Eversource Energy (Eversource), headquartered in Boston, Massachusetts and Hartford, Connecticut, is a public utility holding company subject to regulation by the Federal Energy Regulatory Commission (FERC) under the Public Utility Holding Company Act of 2005. We are engaged primarily in the energy delivery business through the following wholly-owned utility subsidiaries: The Connecticut Light and Power Company (CL&P), a regulated electric utility that serves residential, commercial and industrial customers in parts of Connecticut; NSTAR Electric Company (NSTAR Electric), a regulated electric utility that serves residential, commercial and industrial customers in parts of eastern and western Massachusetts and owns solar power facilities, and its wholly-owned subsidiary Harbor Electric Energy Company (HEEC), also a regulated electric utility that distributes electric energy to its sole customer; Public Service Company of New Hampshire (PSNH), a regulated electric utility that serves residential, commercial and industrial customers in parts of New Hampshire; NSTAR Gas Company (NSTAR Gas), a regulated natural gas utility that serves residential, commercial and industrial customers in parts of Massachusetts; Eversource Gas Company of Massachusetts (EGMA), a regulated natural gas utility that serves residential, commercial and industrial customers in parts of Massachusetts; Yankee Gas Services Company (Yankee Gas), a regulated natural gas utility that serves residential, commercial and industrial customers in parts of Connecticut; and Aquarion Company (Aquarion), a utility holding company that owns five separate regulated water utility subsidiaries and collectively serves residential, commercial, industrial, and municipal and fire protection customers in parts of Connecticut, Massachusetts and New Ha

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View this 10-K filing on SEC EDGAR