Company: CNLHP
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050033
Chunk: 8

Company: CONNECTICUT LIGHT & POWER CO
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 2
Chunk 8
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10.6 million and $52.4 million in the third quarter and the first nine months of 2025, respectively, as compared to the third quarter and the first nine months of 2024, due primarily to a higher transmission rate base as a result of our continued investment in our transmission infrastructure.  Earnings in the nine month period also benefited from lower interest expense.

Our natural gas distribution segment losses decreased $13.4 million and earnings increased $49.5 million in the third quarter and the first nine months of 2025, respectively, as compared to the third quarter and the first nine months of 2024, due primarily to higher revenues from base distribution rate increases effective November 1, 2024 at EGMA and at NSTAR Gas and from capital tracking mechanisms due to continued investments in natural gas infrastructure.  Those earnings increases were partially offset by higher interest expense, higher depreciation expense, and higher property tax expense.  The earnings increase in the nine month period was also unfavorably impacted by higher operations and maintenance expense.

Our water distribution segment earnings decreased $4.8 million and $0.3 million in the third quarter and the first nine months of 2025, respectively, as compared to the third quarter and the first nine months of 2024.  The earnings decrease in the three month period was due primarily to higher operations and maintenance expense and higher depreciation expense. 

Eversource Parent and Other Companies:  Eversource parent and other companies’ losses decreased by $448.3 million and $380.1 million in the third quarter and the first nine months of 2025, respectively, as compared to the third quarter and the first nine months of 2024, due primarily to an after-tax charge of $524.0 million recorded in the third quarter of 2024 resulting from the sale of Eversource parent’s offshore wind investments, as compared to an aggregate net after-tax charge of $75.0 million recorded in the third quarter of 2025 resulting from an increase to the offshore wind contingent liability, net of tax benefits associated with the tax losses on the sales of its offshore wind investments. 

Excluding these charges, Eversource parent and other companies earnings decreased by $0.7 million and losses increased by $68.9 million in the third quarter and the first nine months of 2025, respectively, due primarily to higher interest expense due to the absence in 2025 of capitalized interest as a result of the sale of our offshore wind projects in