Company: CNLHP
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050033
Chunk: 101

Company: CONNECTICUT LIGHT & POWER CO
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 8
Chunk 101
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 assets. PSNH Funding was formed solely to issue RRBs to finance PSNH's unrecovered remaining costs associated with the divestiture of its generation assets.  PSNH Funding is considered a VIE primarily because the equity capitalization is insufficient to support its operations.  PSNH has the power to direct the significant activities of the VIE and is most closely associated with the VIE as compared to other interest holders.  Therefore, PSNH is considered the primary beneficiary and consolidates PSNH Funding in its consolidated financial statements.  

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The following tables summarize the impact of PSNH Funding on PSNH's balance sheets and income statements:(Millions of Dollars)PSNH Balance Sheets:As of September 30, 2025As of December 31, 2024Restricted Cash - Current Portion (included in Special Deposits)$18.0 $31.0 Restricted Cash - Long-Term Portion (included in Other Long-Term Assets)3.2 3.1 Securitized Stranded Cost (included in Regulatory Assets)316.9 349.3 Other Regulatory Liabilities (included in Regulatory Liabilities)8.5 6.9 Accrued Interest (included in Other Current Liabilities)2.0 5.7 Rate Reduction Bonds - Current Portion43.2 43.2 Rate Reduction Bonds - Long-Term Portion280.9 324.1 (Millions of Dollars)PSNH Income Statements:For the Three Months EndedFor the Nine Months EndedSeptember 30, 2025September 30, 2024September 30, 2025September 30, 2024Amortization of RRB Principal (included in Amortization of   Regulatory Assets/(Liabilities), Net)$10.8 $10.8 $32.4 $32.4 Interest Expense on RRB Principal (included in Interest Expense)3.1 3.5 9.7 10.8 

8.    PENSION BENEFITS AND POSTRETIREMENT BENEFITS OTHER THAN PENSION

Eversource provides defined benefit retirement plans (Pension Plans) that cover eligible employees.  In addition to the Pension Plans, Eversource maintains non-qualified defined benefit retirement plans (SERP Plans), which provide benefits in excess of Internal Revenue Code limitations to eligible participants consisting of current and retired employees.  Eversource also provides defined benefit post