Company: CNLHP
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050033
Chunk: 188

Company: CONNECTICUT LIGHT & POWER CO
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 8
Chunk 188
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 General corporate costs (including vendor services in corporate areas, insurance, fees and assessments) (5.2)3.3 1.9 Operations-related expenses (including vendor services, vehicles and materials)(2.7)(2.1)(2.6)Total Base Electric Distribution (Non-Tracked Costs)2.2 2.2 8.0 Total Tracked Costs15.7 10.0 (3.5)Total Operations and Maintenance$17.9 $12.2 $4.5 

Depreciation expense increased for the nine month period for CL&P, NSTAR Electric and PSNH due to higher net plant in service balances. 

Amortization of Regulatory Assets/(Liabilities), Net expense includes the deferral of energy-related costs and other costs that are included in certain regulatory commission-approved cost tracking mechanisms.  This deferral adjusts expense to match the corresponding revenues compared to the actual costs incurred.  These costs are recovered from customers in rates and have no impact on earnings.  Amortization expense also includes the amortization of certain costs as those costs are collected in rates.  The variance in Amortization of Regulatory Assets/(Liabilities), Net for the nine month period is due primarily to the following:

•The variance at CL&P was due primarily to the deferral adjustment of energy-related and other tracked costs that are included in the non-bypassable component of the FMCC mechanism and the SBC mechanism, which can fluctuate from period to period based on the timing of costs incurred and related rate changes to recover these costs.  The CL&P non-bypassable FMCC retail rates in effect were higher than those in the prior period and the net Millstone and Seabrook contract cash flows were higher in 2025 as compared to 2024.  These higher collections within the non-bypassable FMCC resulted in a corresponding increase to amortization expense of $451.5 million for the CL&P non-bypassable FMCC deferral adjustment for the nine month period.  

•The variance at NSTAR Electric was due primarily to the deferral adjustment of costs included in the solar facilities and advanced metering infrastructure regulatory mechanisms, partially offset by the deferral adjustment of energy-related and other tracked costs that are included in the grid modernization regulatory mechanism and higher amortization of storm costs recovered in rates.

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•The variance at PSNH was due to the deferral adjustment of energy-related and other tracked costs that are