Company: CNLHP
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050033
Chunk: 39

Company: CONNECTICUT LIGHT & POWER CO
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 2
Chunk 39
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 CL&P, NSTAR Electric, NSTAR Gas, EGMA, Yankee Gas, and our Connecticut water distribution business, fluctuations in retail sales volumes do not materially impact earnings due to their respective regulatory commission-approved distribution revenue decoupling mechanisms ("Decoupled" in the table above).  These distribution revenues are decoupled from their customer sales volumes, which breaks the relationship between sales volumes and revenues recognized. 

Operating Revenues:  The variance in Operating Revenues by segment is as follows:

(Millions of Dollars)Three Months Ended Nine Months EndedElectric Distribution$85.1 $801.2 Natural Gas Distribution39.9 342.6 Electric Transmission36.1 110.7 Water Distribution2.1 5.8 Other13.6 19.6 Eliminations(19.4)(32.2)Total Operating Revenues$157.4 $1,247.7 

Electric and Natural Gas Distribution Revenues:  

Base Distribution Revenues:

•Base electric distribution revenues increased $28.2 million and $90.5 million for the three and nine month periods, due primarily to base distribution rate increases at PSNH effective August 1, 2024 and August 1, 2025 and at NSTAR Electric effective January 1, 2025.

•Base natural gas distribution revenues increased $20.9 million and $100.6 million for the three and nine month periods, due primarily to base distribution rate increases effective November 1, 2024 at EGMA and at NSTAR Gas.

NSTAR Electric’s PBR mechanism allows for an annual adjustment to base distribution rates for inflation, exogenous events and future capital additions based on a historical five-year average of total capital additions.  On December 23, 2024, the DPU approved a $55.8 million increase to base distribution rates for effect on January 1, 2025.

On July 31, 2024, the NHPUC approved a settlement agreement to implement a temporary annual base distribution rate increase of $61.2 million effective August 1, 2024 at PSNH.  On July 25, 2025, the NHPUC approved a permanent rate increase of $100.7 million, effective August 1, 2025, inclusive of the temporary rate increase. 

NSTAR Gas’ PBR mechanism allows for an annual adjustment to base distribution rates for inflation and exogenous events.  On October 30,