Eversource Energy Subsidiary Files 10-Q

TL;DR

CL&P's 10-Q is in: financials and operations detailed for Eversource subsidiary.

AI Summary

Connecticut Light & Power Co., a subsidiary of Eversource Energy, filed its 10-Q report for the period ending September 30, 2024. The filing details the company's financial performance and operational status. Key entities involved include Eversource Energy, Public Service Co of New Hampshire, and NSTAR Electric Co, all operating within the electric services sector.

Why It Matters

This filing provides crucial financial and operational insights into Connecticut Light & Power Co., a significant utility provider, impacting investors and consumers in its service areas.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial and operational information.

Key Numbers

• 10-Q — Filing Type (Quarterly report filed with the SEC)

Key Players & Entities

• CONNECTICUT LIGHT & POWER CO (company) — Filer of the 10-Q
• EVERSOURCE ENERGY (company) — Parent company of Connecticut Light & Power Co.
• PUBLIC SERVICE CO OF NEW HAMPSHIRE (company) — Related company under Eversource Energy
• NSTAR ELECTRIC CO (company) — Related company under Eversource Energy
• 20240930 (date) — End of the reporting period
• 20241106 (date) — Filing date

FAQ

Key Financial Figures

• $5.00 — nge on which registered Common Shares, $5.00 par value per share ES New York Stock E
• $10.00 — t Light and Power Company Common Stock, $10.00 par value 6,035,205 shares NSTAR Elect
• $1.00 — s NSTAR Electric Company Common Stock, $1.00 par value 200 shares Public Service Co

Filing Documents

• es-20240930.htm (10-Q) — 4333KB
• q3202410q-ex31xeversource.htm (EX-31) — 10KB
• q3202410q-ex311xeversource.htm (EX-31.1) — 10KB
• q3202410q-ex32xeversource.htm (EX-32) — 7KB
• q3202410q-exhibit31xclp.htm (EX-31) — 10KB
• q3202410q-exhibit311xclp.htm (EX-31.1) — 10KB
• q3202410q-exhibit32xclp.htm (EX-32) — 7KB
• q3202410q-exhibit31xnste.htm (EX-31) — 10KB
• q3202410q-exhibit311xnste.htm (EX-31.1) — 10KB
• q3202410q-exhibit32xnste.htm (EX-32) — 7KB
• q3202410q-exhibit31xpsnh.htm (EX-31) — 10KB
• q3202410q-exhibit311xpsnh.htm (EX-31.1) — 10KB
• q3202410q-exhibit32xpsnh.htm (EX-32) — 7KB
• ex4secondamendmentnstar.htm (EX-4) — 1263KB
• ex4thirdamendmenteversource.htm (EX-4) — 1344KB
• es-20240930_g1.jpg (GRAPHIC) — 11KB
• 0000072741-24-000023.txt ( ) — 22587KB
• es-20240930.xsd (EX-101.SCH) — 93KB
• es-20240930_cal.xml (EX-101.CAL) — 120KB
• es-20240930_def.xml (EX-101.DEF) — 672KB
• es-20240930_pre.xml (EX-101.PRE) — 916KB
• es-20240930_lab.xml (EX-101.LAB) — 865KB
• es-20240930_htm.xml (XML) — 4193KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION ITEM 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) Eversource Energy and Subsidiaries (Unaudited) Condensed Consolidated Balance Sheets 1 Condensed Consolidated Statements of (Loss)/ Income 2 Condensed Consolidated Statements of Comprehensive (Loss)/Income 2 Condensed Consolidated Statements of Common Shareholders' Equity 3 Condensed Consolidated Statements of Cash Flows 5 The Connecticut Light and Power Company (Unaudited) Condensed Balance Sheets 6 Condensed Statements of Income 7 Condensed Statements of Comprehensive Income 7 Condensed Statements of Common Stockholder's Equity 8 Condensed Statements of Cash Flows 9 NSTAR Electric Company and Subsidiary (Unaudited) Condensed Consolidated Balance Sheets 10 Condensed Consolidated Statements of Income 11 Condensed Consolidated Statements of Comprehensive Income 11 Condensed Consolidated Statements of Common Stockholder's Equity 12 Condensed Consolidated Statements of Cash Flows 13 Public Service Company of New Hampshire and Subsidiaries (Unaudited) Condensed Consolidated Balance Sheets 14 Condensed Consolidated Statements of Income 15 Condensed Consolidated Statements of Comprehensive Income 15 Condensed Consolidated Statements of Common Stockholder's Equity 16 Condensed Consolidated Statements of Cash Flows 17 Combined Notes to Condensed Financial Statements (Unaudited) 18 ITEM 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations Eversource Energy and Subsidiaries 41 The Connecticut Light and Power Company , NSTAR Electric Company and Subsidiary, and Public Service Company of New Hampshire and Subsidiaries 58 ITEM 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 62 ITEM 4.

Controls and Procedures

Controls and Procedures 63

– OTHER INFORMATION

PART II – OTHER INFORMATION ITEM 1.

Legal Proceedings

Legal Proceedings 63 ITEM 1A.

Risk Factors

Risk Factors 63 ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 63

Defaults Upon Senior Securities 63

ITEM 3. Defaults Upon Senior Securities 63

Mine Safety Disclosures 63

ITEM 4. Mine Safety Disclosures 63

Other Information 63

ITEM 5. Other Information 63 ITEM 6. Exhibits 64

SIGNATURES

SIGNATURES 66 iii EVERSOURCE ENERGY AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Thousands of Dollars) As of September 30, 2024 As of December 31, 2023 ASSETS Current Assets: Cash and Cash Equivalents $ 97,888 $ 53,873 Receivables, Net (net of allowance for uncollectible accounts of $ 574,671 and $ 554,455 as of September 30, 2024 and December 31, 2023, respectively) 1,562,525 1,431,531 Unbilled Revenues 169,218 225,325 Materials, Supplies, Natural Gas and REC Inventory 564,189 507,307 Regulatory Assets 2,024,897 1,674,196 Prepayments and Other Current Assets 414,190 355,762 Total Current Assets 4,832,907 4,247,994 Property, Plant and Equipment, Net 41,911,467 39,498,607 Deferred Debits and Other Assets: Regulatory Assets 4,993,145 4,714,970 Goodwill 4,526,681 4,532,100 Investments in Unconsolidated Affiliates 166,418 660,473 Prepaid Pension and PBOP 1,158,142 1,028,207 Marketable Securities 339,117 337,814 Other Long-Term Assets 645,442 592,080 Total Deferred Debits and Other Assets 11,828,945 11,865,644 Total Assets $ 58,573,319 $ 55,612,245 LIABILITIES AND CAPITALIZATION Current Liabilities: Notes Payable $ 759,500 $ 1,930,422 Long-Term Debt – Current Portion 1,442,483 824,847 Rate Reduction Bonds – Current Portion 43,210 43,210 Accounts Payable 1,562,164 1,869,187 Accrued Interest 308,101 260,577 Regulatory Liabilities 722,495 591,750 Other Current Liabilities 781,871 821,404 Total Current Liabilities 5,619,824 6,341,397 Deferred Credits and Other Liabilities: Accumulated Deferred Income Taxes 5,330,509 5,303,730 Regulatory Liabilities 4,124,761 4,022,923 Asset Retirement Obligations 510,025 505,844 Accrued Pension, SERP and PBOP 125,527 123,754 Other Long-Term Liabilities 1,367,201 1,029,238 Total Deferred Credits and Other Liabilities 11,458,023 10,985,489 Long-Term Debt 25,971,408 23,588,616 Rate Reduction Bonds 324,072 367,282 Noncontrolling Interest – Preferred Stock of Subsidiarie

View Full Filing

View this 10-Q filing on SEC EDGAR