Company: CNLHP
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0000072741-25-000011
Chunk: 104

Company: CONNECTICUT LIGHT & POWER CO
Filing Date: 2025-05-05
Form: 10-Q
Item: Item 8
Chunk 104
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Our regulated companies comprise the electric distribution, electric transmission, natural gas distribution, and water distribution segments.  A summary of our segment earnings and EPS is as follows: 

 For the Three Months Ended March 31,20252024(Millions of Dollars, Except Per Share Amounts)AmountPer ShareAmountPer ShareElectric Distribution$188.4 $0.51 $168.1 $0.48 Electric Transmission199.4 0.54 176.7 0.50 Natural Gas Distribution218.4 0.60 190.6 0.54 Water Distribution3.6 0.01 5.4 0.01 Net Income - Regulated Companies$609.8 $1.66 $540.8 $1.53 

Our electric distribution segment earnings increased $20.3 million in the first quarter of 2025, as compared to the first quarter of 2024, due primarily to higher revenues from base distribution rate increases at PSNH effective August 1, 2024 and at NSTAR Electric effective January 1, 2025 and from CL&P's capital tracking mechanism due to increased electric system improvements.  Those earnings increases were partially offset by higher property tax expense, higher interest expense, and higher depreciation expense.

Our electric transmission segment earnings increased $22.7 million in the first quarter of 2025, as compared to the first quarter of 2024, due primarily to a higher transmission rate base as a result of our continued investment in our transmission infrastructure.

Our natural gas distribution segment earnings increased $27.8 million in the first quarter of 2025, as compared to the first quarter of 2024, due primarily to higher revenues from base distribution rate increases effective November 1, 2024 at EGMA and at NSTAR Gas and from capital tracking mechanisms due to continued investments in natural gas infrastructure.  Those earnings increases were partially offset by higher operations and maintenance expense, higher interest expense, higher depreciation expense, and higher property tax expense.

Our water distribution segment earnings decreased $1.8 million in the first quarter of 2025, as compared to the first quarter of 2024, due primarily to the absence of a benefit recorded in the first quarter of 2024 to recognize the impacts of the Aquarion Water Company of Connecticut’s rate case decision from PURA, partially offset by lower interest expense.

Eversource Parent and Other Companies:  Eversource parent and