Company: CNLHP
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050033
Chunk: 190

Company: CONNECTICUT LIGHT & POWER CO
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 8
Chunk 190
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 Net - the variance is due primarily to the following: 

(Millions of Dollars)CL&PNSTAR ElectricPSNHPension, SERP and PBOP Non-Service Income Components, Net of Deferred Portion$5.5 $6.3 $2.0 Interest Income (primarily on regulatory deferrals)(13.8)(3.6)3.3 Capitalized AFUDC related to equity funds(13.0)(1.3)5.5 Investment Income/(Loss)(0.1)(3.4)(0.2)Other0.1 0.1 — Total Other Income, Net$(21.3)$(1.9)$10.6 

Income Tax Expense - the variance is due primarily to the following:

•The increase at CL&P was due primarily to higher pre-tax earnings ($7.1 million), higher share-based payment tax deficiency ($0.2 million), higher state taxes ($4.4 million), and an increase in items that impact our tax rate as a result of regulatory treatment (flow-through items) and permanent differences ($5.8 million), partially offset by an increase in amortization of EDIT ($1.0 million), a decrease in return to provision adjustments ($1.3 million), and a decrease in reserves ($8.8 million).

•The increase at NSTAR Electric was due primarily to higher pre-tax earnings ($8.2 million), higher state taxes ($2.5 million), higher share-based payment tax deficiency ($0.3 million), and an increase in items that impact our tax rate as a result of regulatory treatment (flow-through items) and permanent differences ($1.4 million).

•The increase at PSNH was due primarily to higher pre-tax earnings ($14.0 million), higher state taxes ($3.6 million), and an increase in items that impact our tax rate as a result of regulatory treatment (flow-through items) and permanent differences ($2.2 million), partially offset by an increase in amortization of EDIT ($0.8 million).

EARNINGS SUMMARY

CL&P's earnings increased $27.7 million for the nine month period due primarily to higher revenues from its capital tracking mechanism due to increased electric system improvements 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 depreciation expense, lower net interest income on regulatory deferrals, and higher property tax expense.

65

NSTAR Electric's earnings increased