Company: CNLHP
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000072741-25-000007
Chunk: 169

Company: CONNECTICUT LIGHT & POWER CO
Filing Date: 2025-02-14
Form: 10-K
Item: Item 7
Chunk 169
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 distribution segments.  A summary of our segment earnings and EPS is as follows:

 For the Years Ended December 31, 202420232022(Millions of Dollars, Except Per Share Amounts)AmountPer ShareAmountPer ShareAmountPer ShareNet Income - Regulated Companies (GAAP)$1,393.6 $3.90 $1,509.3 $4.31 $1,460.4 $4.21 Electric Distribution$631.7 $1.77 $608.0 $1.74 $592.8 $1.71 Electric Transmission724.6 2.03 643.4 1.84 596.6 1.72 Natural Gas Distribution291.0 0.81 224.8 0.64 234.2 0.67 Water Distribution, excluding Loss on Pending Sale (Non-GAAP)44.6 0.12 33.1 0.09 36.8 0.11 Net Income - Regulated Companies (Non-GAAP)$1,691.9 $4.73 $1,509.3 $4.31 $1,460.4 $4.21 Loss on Pending Sale of Aquarion (after-tax)(298.3)(0.83)— — — — Net Income - Regulated Companies (GAAP)$1,393.6 $3.90 $1,509.3 $4.31 $1,460.4 $4.21 

Our electric distribution segment earnings increased $23.7 million in 2024, as compared to 2023, due primarily to higher revenues from base distribution rate increases at NSTAR Electric effective January 1, 2024 and at PSNH effective August 1, 2024 and from CL&P's capital tracking mechanism due to increased electric system improvements, and an increase in interest income primarily on regulatory deferrals.  Those earnings increases were partially offset by higher operations and maintenance expense primarily driven by higher employee benefit costs, higher interest expense, higher depreciation expense, the absence of a prior year benefit at PSNH related to the establishment of a new regulatory tracking mechanism that allowed for the recovery of previously incurred operating expenses associated with poles acquired on May 1, 2023, higher property tax expense, and a higher effective tax rate.

Our electric transmission segment earnings increased $81