Company: CNLHP
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050033
Chunk: 89

Company: CONNECTICUT LIGHT & POWER CO
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 8
Chunk 89
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 Liabilities$4,114.3 $1,440.5 $1,670.3 $409.8 $4,032.6 $1,395.9 $1,643.1 $395.0 As of both September 30, 2025 and December 31, 2024, the Regulatory Liabilities attributable to the Aquarion water distribution business have been reclassified to Liabilities Held for Sale on the Eversource balance sheets.  For further information, see Note 18, “Assets Held for Sale.”Regulatory Developments:CL&P State Bonding Proceeds:  On July 1, 2025, Connecticut enacted Public Act No. 25-173 (Senate Bill No. 4) (the Act).  The Act authorizes the State of Connecticut to issue up to $125 million in new general obligation bonds for each fiscal year 2026 and 2027 to reduce costs of hardship protection measures charged to retail customers, of which 67 percent of each issuance will be allocated to CL&P, and $30 million for fiscal year 2026 and $20 million for fiscal year 2027 in new general obligation bonds to fund the electric vehicle charging program, of which 80 percent of each issuance will be allocated to CL&P.  On September 19, 2025, CL&P received $107.8 million in general obligation bond proceeds from the State of Connecticut, which represent reimbursement of incurred costs that were previously recognized as regulatory assets on CL&P’s balance sheets.  The proceeds received for the reimbursement of hardship costs and for electric vehicle charging program costs were credited against the System Benefits Charge (SBC) and Non-Bypassable Federally Mandated Congestion Charge (NBFMCC) regulatory deferrals on CL&P’s balance sheet as of September 30, 2025.  The proceeds from the state bond funding are presented as a cash inflow in Regulatory Recoveries within operating activities on CL&P’s statement of cash flows. PSNH Distribution Rate Case:  On June 11, 2024, PSNH filed an application with the NHPUC for approval of a temporary annual base distribution rate increase.  On July 31, 2024, the NHPUC approved a settlement agreement that was reached by PSNH, New Hampshire Department of Energy, and the Office of the Consumer Advocate to implement a temporary annual base distribution rate increase of $61.2 million