Company: CNLHP
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001628280-25-037369
Chunk: 48

Company: CONNECTICUT LIGHT & POWER CO
Filing Date: 2025-08-04
Form: 10-Q
Item: Item 2
Chunk 48
---
 expense, and higher earnings from its AMI tracking mechanism.  The earnings increase was partially offset by higher property tax expense, higher interest expense on long-term debt, and higher operations and maintenance expense.  

PSNH's earnings increased $30.4 million for the six month period due primarily to higher revenues as a result of the base distribution rate increase effective August 1, 2024 and an increase in transmission earnings driven primarily by a higher transmission rate base and lower interest expense.  The earnings increase was partially offset by higher operations and maintenance expense, higher interest expense on long-term debt, and higher depreciation expense. 

LIQUIDITY

Cash Flows:  CL&P had cash flows provided by operating activities of $753.6 million for the six months ended June 30, 2025, as compared to $109.8 million in the same period of 2024.  The increase in operating cash flows was due primarily to an improvement in regulatory recoveries driven primarily by the timing of collections for the non-bypassable FMCC and the SBC regulatory tracking mechanisms.  The CL&P non-bypassable FMCC retail rate increased as a result of the 2024 RAM decision and the net Millstone and Seabrook contract cash flows were higher in 2025 as compared to 2024.  These higher collections resulted in an improvement to operating cash flows of $501.1 million for the six month period.  The impacts of regulatory collections are included in both Regulatory Recoveries and Amortization of Regulatory Assets/(Liabilities), Net on the statements of cash flows.  Operating cash flows were also favorably impacted by the timing of cash collections on our accounts receivable, a decrease of $47.1 million in cash payments to vendors for storm costs, and the timing of other working capital items.  These favorable impacts were partially offset by a decrease of $223.4 million in operating cash flows due to income tax payments made in 2025 compared to income tax refunds received in 2024 and the timing of cash payments made on our accounts payable. 

NSTAR Electric had cash flows provided by operating activities of $393.6 million for the six months ended June 30, 2025, as compared to $341.4 million in the same period of 2024.  The increase in operating cash flows was due primarily to an improvement in regulatory recoveries driven primarily by the timing of collections for energy supply costs, net metering costs and other regulatory tracking mechanisms, a