Company: CNLHP
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001628280-25-037369
Chunk: 126

Company: CONNECTICUT LIGHT & POWER CO
Filing Date: 2025-08-04
Form: 10-Q
Item: Item 8
Chunk 126
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32.1 million in the second quarter and the first half of 2025, respectively, as compared to the second quarter and first half of 2024, due primarily to higher revenues from base distribution rate increases at PSNH effective August 1, 2024 and at NSTAR Electric effective January 1, 2025 and from CL&P's capital tracking mechanism due to increased electric system improvements.  Those earnings increases were partially offset by higher property tax expense, higher interest expense, higher depreciation expense, lower net interest income on regulatory deferrals, and higher operations and maintenance expense.

Our electric transmission segment earnings increased $19.0 million and $41.8 million in the second quarter and the first half of 2025, respectively, as compared to the second quarter and the first half of 2024, due primarily to a higher transmission rate base as a result of our continued investment in our transmission infrastructure and lower interest expense.

Our natural gas distribution segment earnings increased $8.2 million and $36.1 million in the second quarter and the first half of 2025, respectively, as compared to the second quarter and the first half 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 operations and maintenance expense, higher interest expense, higher depreciation expense, and higher property tax expense.

Our water distribution segment earnings increased $6.4 million and $4.5 million in the second quarter and the first half of 2025, respectively, as compared to the second quarter and the first half of 2024, due primarily to higher revenues from the revenue adjustment mechanism in Connecticut and lower interest expense.  Higher earnings in the first half of 2025 compared to the first half of 2024 were partially offset by the absence in 2025 of a benefit recorded in the first half of 2024 to recognize the impacts of the Aquarion Water Company of Connecticut’s rate case decision from PURA.

Eversource Parent and Other Companies:  Eversource parent and other companies’ losses increased by $28.0 million and $68.2 million in the second quarter and the first half of 2025, respectively, as compared to the second quarter and the first half of 2024, due primarily to higher interest expense due to the absence in 2025 of capitalized interest as