Company: CNLHP
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0000072741-25-000011
Chunk: 107

Company: CONNECTICUT LIGHT & POWER CO
Filing Date: 2025-05-05
Form: 10-Q
Item: Item 8
Chunk 107
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, 2024.

Amounts outstanding under the commercial paper programs are included in Notes Payable and classified in current liabilities on the Eversource and NSTAR Electric balance sheets, as all borrowings are outstanding for no more than 364 days at one time. 

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 March 31, 2025 and December 31, 2024, there were intercompany loans from Eversource parent to PSNH of $114.5 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 3, 2025, PSNH filed a petition with the NHPUC requesting authorization to issue up to $300.0 million in long-term debt through December 31, 2025.  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.  

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 Debentures4.85 %400.0 February 2025March 2030Repay 3.25