Company: CNLHP
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001628280-25-037369
Chunk: 129

Company: CONNECTICUT LIGHT & POWER CO
Filing Date: 2025-08-04
Form: 10-Q
Item: Item 8
Chunk 129
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 borrowings are outstanding for no more than 364 days at one time.  As a result of the Yankee Gas long-term debt issuances in July 2025, $110.0 million of commercial paper borrowings under the Eversource parent commercial paper program were reclassified to Long-Term Debt on Eversource parent’s balance sheet as of June 30, 2025.

Intercompany Borrowings:  Eversource parent uses its available capital resources to provide loans to its subsidiaries to assist in meeting their short-term borrowing needs.  Eversource parent records intercompany interest income from its loans to subsidiaries, which is eliminated in consolidation.  Intercompany loans from Eversource parent to its subsidiaries are eliminated in consolidation on Eversource's balance sheets.   As of June 30, 2025 and December 31, 2024, there were intercompany loans from Eversource parent to PSNH of $35.3 million and $131.1 million, respectively.  As of December 31, 2024, there were intercompany loans from Eversource parent to CL&P of $280.0 million.  Eversource parent charges interest on these intercompany loans at the same weighted-average interest rate as its commercial paper program.  Intercompany loans from Eversource parent are included in Notes Payable to Eversource Parent and classified in current liabilities on the respective subsidiary's balance sheets, as these intercompany borrowings are outstanding for no more than 364 days at one time.   

Long-Term Debt Issuance Authorizations:  On March 26, 2025, PURA approved Yankee Gas’ request for authorization to issue up to $360.0 million in long-term debt through December 31, 2026.  On May 27, 2025, NHPUC approved PSNH’s request for authorization to issue up to $300.0 million in long-term debt through December 31, 2025.   

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Long-Term Debt Issuances and Repayments:  The following table summarizes long-term debt issuances and repayments:

(Millions of Dollars)Interest RateIssuance/(Repayment)Issue Date or Repayment DateMaturity DateUse of Proceeds for Issuance/Repayment InformationCL&P Series A First Mortgage Bonds4.95 %$400.0 January 2025January 2030Repaid short-term debt, paid capital expenditures and working capitalNSTAR Electric Deb