Company: CNLHP
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0000072741-25-000011
Chunk: 134

Company: CONNECTICUT LIGHT & POWER CO
Filing Date: 2025-05-05
Form: 10-Q
Item: Item 8
Chunk 134
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 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.  The variance in Energy Efficiency Programs expense for the three month period is due primarily to the following:

•The increase at CL&P was due to the deferral adjustment, partially offset by lower program spending.

•The decrease at NSTAR Electric was due to the deferral adjustment, partially offset by higher program spending. 

•The increase at PSNH was due to higher program spending, partially offset by the deferral adjustment.

Taxes Other Than Income Taxes - the variance is due primarily to the following:

•The increase at CL&P was due to higher Connecticut gross earnings taxes and higher property taxes as a result of higher utility plant balances. 

•The increase at NSTAR Electric was due to higher property taxes as a result of higher utility plant balances and higher mill rates. 

•The increase at PSNH was due to higher property taxes as a result of higher utility plant balances. 

Interest Expense - the variance is due primarily to the following:

(Millions of Dollars)CL&PNSTAR ElectricPSNHLong-term debt$6.2 $11.8 $4.0 Capitalized AFUDC related to debt funds0.1 2.8 1.2 Amortization of debt discounts and premiums, net0.3 0.3 — Regulatory deferrals(7.9)(3.3)(1.2)Short-term notes payable(3.7)(1.8)(2.2)RRBs— — (0.4)Other0.2 — — Total Interest Expense$(4.8)$9.8 $1.4 

Other Income, 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$1.8 $2.5 $0.5 Interest Income0.9 1.0 0.9 Capitalized AFUDC related to equity funds(2.4)(2.1)2.0 Investment Income/(Loss)0.8 (2.2)0.