Eversource Sells Seabrook Stake for $360M

TL;DR

ES cashes out of Seabrook nuclear for $360M, exiting generation.

AI Summary

Eversource Energy (ES) announced on November 4, 2024, that it has completed the sale of its 17.4% stake in the Seabrook Station nuclear power plant to its joint venture partner, NextEra Energy Capital Holdings, Inc. The transaction, which closed on November 4, 2024, resulted in gross proceeds of approximately $360 million for Eversource Energy.

Why It Matters

This divestiture allows Eversource Energy to exit its nuclear generation business, potentially simplifying its portfolio and focusing on its regulated utility operations.

Risk Assessment

Risk Level: low — The filing is a routine disclosure of a completed asset sale with no indication of new risks.

Key Numbers

• $360 million — Gross Proceeds (Amount received by Eversource Energy from the sale of its Seabrook stake.)
• 17.4% — Ownership Stake (Percentage of Seabrook Station owned by Eversource Energy prior to the sale.)

Key Players & Entities

• Eversource Energy (company) — Seller of Seabrook stake
• Seabrook Station (company) — Nuclear power plant asset
• NextEra Energy Capital Holdings, Inc. (company) — Buyer of Seabrook stake
• $360 million (dollar_amount) — Gross proceeds from sale
• November 4, 2024 (date) — Closing date of the transaction

FAQ

Key Financial Figures

• $5.00 — red Eversource Energy Common Shares, $5.00 par value per share ES New York Stoc

Filing Documents

• tm2427357d1_8k.htm (8-K) — 64KB
• tm2427357d1_ex99-1.htm (EX-99.1) — 64KB
• tm2427357d1_ex99-2.htm (EX-99.2) — 55KB
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• 0001104659-24-113912.txt ( ) — 4968KB
• es-20241104.xsd (EX-101.SCH) — 4KB
• es-20241104_def.xml (EX-101.DEF) — 26KB
• es-20241104_lab.xml (EX-101.LAB) — 36KB
• es-20241104_pre.xml (EX-101.PRE) — 25KB
• tm2427357d1_8k_htm.xml (XML) — 16KB

02 Results of Operations and Financial Conditions

Item 2.02 Results of Operations and Financial Conditions. On November 4, 2024, Eversource Energy issued a news release announcing its unaudited results of operations for the third quarter and nine months ended September 30, 2024, and related financial information for certain of its subsidiaries as of and for the same period. A copy of the news release and related unaudited financial reports are attached as Exhibits 99.1 and 99.2 and are incorporated herein by reference thereto. The information contained in this Item 2.02, including Exhibits 99.1 and 99.2, shall not be deemed "filed" with the Securities and Exchange Commission ("SEC") nor incorporated by reference in any registration statement filed by Eversource Energy or any subsidiary thereof under the Securities Act of 1933, as amended (the "Securities Act"), unless specified otherwise. Section 7 Regulation FD

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. On November 5, 2024, Eversource Energy will webcast a conference call with financial analysts during which senior management will discuss the company's financial performance through the third quarter of 2024. The webcast will be accessible from the Investors section of the Eversource Energy website at www.eversource.com. Attached as Exhibit 99.3 and incorporated herein by reference are the slides to be discussed by Eversource Energy during the conference call. The information contained in this Item 7.01, including Exhibit 99.3, shall not be deemed "filed" with the SEC nor incorporated by reference into any registration statement filed by Eversource Energy or any subsidiary thereof under the Securities Act, unless specified otherwise. Section 9

Financial Statements and Exhibits

Financial Statements and Exhibits

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. Exhibit Number Description 99.1 News Release of Eversource Energy dated November 4, 2024. 99.2 Financial Report for the three and nine months ended September 30, 2024. 99.3 November 5, 2024 presentation slides. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). [The remainder of this page left blank intentionally.] SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned hereunto duly authorized. EVERSOURCE ENERGY THE CONNECTICUT LIGHT AND POWER COMPANY NSTAR ELECTRIC COMPANY PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE (Registrants) November 4, 2024 By: /s/ Jay S. Buth Jay S. Buth Vice President, Controller and Chief Accounting Officer

View Full Filing

View this 8-K filing on SEC EDGAR