Eversource Energy Files 2024 10-K
Ticker: ES · Form: 10-K · Filed: Feb 14, 2025 · CIK: 72741
Sentiment: neutral
Topics: 10-K, utility, financials
TL;DR
EVERSOURCE ENERGY 2024 10-K FILED. FULL YEAR RESULTS OUT.
AI Summary
Eversource Energy filed its 2024 10-K on February 14, 2025, detailing its operations as a major energy provider. The company, which includes subsidiaries like Public Service Co of New Hampshire and NSTAR Electric Co, reported its fiscal year ending December 31, 2024. The filing covers its business across Massachusetts, New Hampshire, and Connecticut, outlining its services in electric, natural gas, and water distribution.
Why It Matters
This filing provides investors and stakeholders with a comprehensive overview of Eversource Energy's financial performance and operational status for the fiscal year 2024, impacting investment decisions and regulatory oversight.
Risk Assessment
Risk Level: low — This is a standard annual financial filing for a large, established utility company, not indicating immediate or unusual risks.
Key Numbers
- 1231 — Fiscal Year End (Indicates the end of the reporting period for financial statements.)
- 0000072741 — Central Index Key (Unique identifier for Eversource Energy with the SEC.)
Key Players & Entities
- EVERSOURCE ENERGY (company) — Filer
- PUBLIC SERVICE CO OF NEW HAMPSHIRE (company) — Subsidiary
- NSTAR ELECTRIC CO (company) — Subsidiary
- 2024 (date) — Fiscal Year End
- February 14, 2025 (date) — Filing Date
FAQ
What is the primary business of Eversource Energy?
Eversource Energy is primarily engaged in the electric services industry, as indicated by its SIC code [4911].
When was the 10-K filing submitted?
The 10-K filing was submitted on February 14, 2025.
What is the fiscal year end for Eversource Energy?
The fiscal year end for Eversource Energy is December 31.
Which subsidiaries are listed under Eversource Energy in this filing?
The filing lists Public Service Co of New Hampshire and NSTAR Electric Co as subsidiaries.
What is the state of incorporation for Eversource Energy?
Eversource Energy is incorporated in Massachusetts (MA).
Filing Stats: 4,273 words · 17 min read · ~14 pages · Grade level 17.6 · Accepted 2025-02-14 14:26:39
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