Company: CNLHP
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0000072741-25-000011
Chunk: 27

Company: CONNECTICUT LIGHT & POWER CO
Filing Date: 2025-05-05
Form: 10-Q
Item: Item 2
Chunk 27
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 and expanded energy efficiency programs that are recovered from customers in rates, most of which have no impact on earnings.  Energy Efficiency Programs expense includes a deferral adjustment that reflects the actual costs of energy efficiency programs compared to the amounts billed to customers, which can fluctuate from period to period based on the timing of costs incurred and related rate changes to recover these costs. Energy Efficiency Programs expense increased for the three month period due primarily to the deferral adjustment.

Taxes Other Than Income Taxes expense increased for the three month period due primarily to higher property taxes as a result of higher utility plant balances and higher mill rates at NSTAR Electric and higher Connecticut gross earnings taxes.

Interest Expense increased for the three month period due primarily to the following:

(Millions of Dollars)Three Months EndedLong-term debt$33.9 Absence in 2025 of capitalized interest as a result of the sale of our offshore wind investments in the third quarter of 202424.1 Capitalized AFUDC related to debt funds 4.3 Amortization of debt discounts and premiums, net1.2 Regulatory deferrals(13.9)RRBs(0.4)Other0.8 Total Interest Expense$50.0 

48

Other Income, Net increased for the three month period due primarily to the following:

(Millions of Dollars)Three Months EndedPension, SERP and PBOP Non-Service Income Components, Net of Deferred Portion$4.8 Interest Income4.0 Capitalized AFUDC related to equity funds(2.9)Equity in Earnings of Unconsolidated Affiliates(1.8)Investment (Loss)/Income(1.2)Other(1.6)Total Other Income, Net$1.3 

Income Tax Expense increased for the three month period due primarily to higher pre-tax earnings ($6.6 million), higher state taxes ($4.4 million), a decrease in amortization of EDIT ($0.7 million), and a higher share-based payment tax deficiency ($0.6 million), partially offset by a decrease in items that impact our tax rate as a result of regulatory treatment (flow-through items) and permanent differences ($9.6 million).

RESULTS OF OPERATIONS – 

THE CONNECTICUT LIGHT AND POWER COMPANY

NSTAR ELECTRIC COMPANY AND SUBSIDIARY

PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE AND SUBSIDIARIES

The following provides the amounts and variances in operating revenues