Company: CNLHP
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001628280-25-037369
Chunk: 12

Company: CONNECTICUT LIGHT & POWER CO
Filing Date: 2025-08-04
Form: 10-Q
Item: Item 2
Chunk 12
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 and share purchase plan, and matching contributions under the Eversource 401k Plan.

In the first half of 2025, CL&P, NSTAR Electric and PSNH paid $330.0 million, $436.0 million and $175.0 million, respectively, in common stock dividends to Eversource parent.

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Investments in Property, Plant and Equipment on the statements of cash flows do not include amounts incurred on capital projects but not yet paid, cost of removal, AFUDC related to equity funds, and the capitalized and deferred portions of pension and PBOP income/expense.  In the first half of 2025, investments for Eversource, CL&P, NSTAR Electric, and PSNH were $2.05 billion, $438.2 million, $775.2 million, and $275.5 million, respectively.  Capital expenditures were primarily for continuing projects to maintain and improve infrastructure and operations, including enhancing reliability to the transmission and distribution systems.

In June 2025, Eversource made a construction cost post-close purchase price adjustment payment related to the South Fork Wind project of $69 million, which is reflected in investing activities on the statement of cash flows.

Contractual Obligations:  Our cash requirements from contractual obligations were reported in Item 7, "Management’s Discussion and Analysis of Financial Condition and Results of Operations," of the Eversource 2024 Form 10-K.  There have been no material changes to our cash requirements from contractual obligations and payment schedules previously disclosed in our 2024 Form 10-K.

Credit Ratings:  On June 24, 2025, Moody’s revised CL&P’s corporate credit rating from A3 to Baa1, its senior secured debt credit rating from A1 to A2 and outlook from negative to stable, citing the Connecticut regulatory environment as the reason for the downgrade.

Business Development and Capital Expenditures

Our consolidated capital expenditures, including amounts incurred but not paid, cost of removal, AFUDC, and the capitalized and deferred portions of pension and PBOP income/expense (all of which are non-cash factors), totaled $2.15 billion in the first half of 2025, compared to $2.26 billion in the first half of 2024.  These amounts included $104.4 million and $152.7 million in the first half of 2025 and 2024, respectively, related to information technology and facilities upgrades and enhancements, primarily at