Company: CNLHP
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050033
Chunk: 15

Company: CONNECTICUT LIGHT & POWER CO
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 2
Chunk 15
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As a result of the Eversource parent long-term debt issuance in October 2025, $595.0 million of current portion of long-term debt was reclassified to Long-Term Debt on Eversource parent’s balance sheet as of September 30, 2025.  As a result of the NSTAR Electric long-term debt issuance in October 2025, $305.4 million of current portion of long-term debt was reclassified to Long-Term Debt on NSTAR Electric’s balance sheet as of September 30, 2025. 

Rate Reduction Bonds:  PSNH's RRB payments consist of principal and interest and are paid semi-annually.  PSNH paid $43.2 million of RRB principal payments and $13.4 million of interest payments in the first nine months of 2025, and paid $43.2 million of RRB principal payments and $14.9 million of interest payments in the first nine months of 2024.

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Common Share Issuances and Equity Distribution Agreement:  On May 30, 2025, Eversource entered into an equity distribution agreement pursuant to which it may offer and sell up to $1.2 billion of its common shares from time to time through an ATM equity offering program.  In the first nine months of 2025, we issued 7,130,134 common shares, which resulted in proceeds of $465.4 million, net of issuance costs.  Eversource used the net proceeds received for general corporate purposes.

Cash Flows:  Cash flows from operating activities primarily result from the transmission and distribution of electricity, and the distribution of natural gas and water.  Cash flows provided by operating activities totaled $3.20 billion in the first nine months of 2025, compared with $1.52 billion in the first nine months of 2024.  Operating cash flows were favorably impacted by an improvement in regulatory recoveries driven primarily by the timing of collections for CL&P’s non-bypassable FMCC, CL&P’s SBC, and other regulatory tracking mechanisms.  The CL&P non-bypassable FMCC retail rates in effect for the 2025 period were higher than those set in the prior period and the net Millstone and Seabrook contract cash flows were higher in 2025 as compared to 2024.  These higher collections within the non-bypassable FMCC resulted in an improvement to operating cash flows of $451.5