Company: CNLHP
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000072741-25-000007
Chunk: 319

Company: CONNECTICUT LIGHT & POWER CO
Filing Date: 2025-02-14
Form: 10-K
Item: Item 8
Chunk 319
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ment Charge(1,218)(544)— (4)(1,766)Carrying Value as of December 31, 2023$(519)$255 $299 $481 $516 During 2024, Eversource sold its interest in the North East Offshore and South Fork Class B, Member LLC equity method investments and recognized an aggregate, net after-tax loss on the sale of its offshore wind investments of $524 million.  Capital contributions in the offshore wind investments, including the 2023 contribution for the tax equity investment in South Fork Wind, were included in Investments in Unconsolidated Affiliates on the statements of cash flows.  Proceeds received from the sale of the investments in 2024, and proceeds received from the 2023 sale of the unused lease area and from an October 2023 distribution of $318 million received primarily as a result of being a 50 percent joint owner in the Class B shares of South Fork Wind which was restructured as a tax equity investment, were included in Proceeds from Unconsolidated Affiliates on the statements of cash flows.  Liquidation of Renewable Energy Investment Fund:  On March 21, 2023, Eversource’s equity method investment in a renewable energy investment fund was liquidated by the fund’s general partner in accordance with the partnership agreement.  Proceeds received from the liquidation totaled $147.6 million and were included in Proceeds from Unconsolidated Affiliates on the statement of cash flows for the year ended December 31, 2023.  A portion of the proceeds was used to make a charitable contribution to the Eversource Energy Foundation (a related party) of $20.0 million in 2023.  The liquidation benefit received in excess of the investment’s carrying value and the charitable contribution were included in Other Income, Net on the statement of income. NSTAR Electric:  As of December 31, 2024 and 2023, NSTAR Electric's investments included a 14.5 percent ownership interest in two companies that transmit hydro-electricity imported from the Hydro-Quebec system in Canada of $11.5 million and $9.6 million, respectively.

7.     ASSET RETIREMENT OBLIGATIONS

Eversource, including CL&P, NSTAR Electric and PSNH, recognizes a liability for the fair value of an ARO on the obligation date if the liability's fair