Company: CNLHP
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050033
Chunk: 170

Company: CONNECTICUT LIGHT & POWER CO
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 8
Chunk 170
---
  We do not anticipate any significant impact to our operating revenues or earnings as a result of the Act’s enactment.  However, we expect PURA to initiate proceedings related to 

55

securitization, renewable portfolio standard obligations, and other provisions in the Act, which may impact future rate design and recovery mechanisms.

On October 20, 2025, Governor Lamont nominated four new PURA commissioners who, along with an existing commissioner, enable the agency to now operate with the maximum number of commissioners. The four nominees will serve in an interim capacity until they are confirmed by the legislature.

PFAS Settlements:  Aquarion opted into class-action settlements with the defendants 3M Company, E.I. duPont de Nemours and Company, Tyco Fire Products LP, and BASF Corporation.  These settlement agreements were entered to resolve claims of per- and polyfluoroalkyl substances (PFAS) contamination in the drinking water provided by public water systems.  In July 2024 and April 2025, Aquarion and other qualifying class members submitted claims to receive settlement awards; these awards were allocated based on the overall number of claimants, PFAS concentrations and flow rates of water sources, and a variety of other factors.  The final, total recovery from these settlements is unknown and will be based on the Claims Administrator’s review of the submitted claims and the subsequent allocation procedures.  Aquarion anticipates receiving recovery from 3M Company over the next nine years and from E.I. duPont de Nemours and Company over the next two years.  The schedule for BASF Corporation and Tyco Fire Products LP are unknown at this time.  Aquarion has received $11.7 million of proceeds in 2025.  Proceeds from the settlements will be used to fund capital expenditures.

Critical Accounting Policies

The preparation of financial statements in conformity with GAAP requires management to make estimates, assumptions and, at times, difficult, subjective or complex judgments.  Changes in these estimates, assumptions and judgments, in and of themselves, could materially impact our financial position, results of operations or cash flows.  Our management discusses with the Audit Committee of our Board of Trustees significant matters relating to critical accounting policies.  Our critical accounting policies that we believed were the most critical in nature were reported in the Eversource 2024 Form 10-K.  There have been no material changes with regard to these critical accounting policies.

Refer to Note 9D,