Company: CNLHP
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000072741-25-000007
Chunk: 223

Company: CONNECTICUT LIGHT & POWER CO
Filing Date: 2025-02-14
Form: 10-K
Item: Item 7
Chunk 223
---
acked revenues also include wholesale market sales transactions, such as sales of energy and energy-related products into the ISO-NE wholesale electricity market, sales of natural gas to third party marketers, and the sale of RECs to various counterparties.

Customers have the choice to purchase electricity from their Eversource electric utility or from a competitive third party supplier.  For customers who have contracted separately with these competitive suppliers, revenue is not recorded for the sale of the electricity commodity, as the utility is acting as an agent on behalf of the third party supplier.  For customers that choose to purchase electric generation from CL&P, NSTAR Electric or PSNH, each utility purchases power on behalf of, and is permitted to recover the related energy supply cost without mark-up from, its customers, and records offsetting amounts in revenues and purchased power related to this energy supply procurement.  CL&P, NSTAR Electric and PSNH each remain as the distribution service provider for all customers and charge a regulated rate for distribution delivery service recorded in revenues.  Certain eligible natural gas customers may elect to purchase natural gas from their Eversource natural gas utility or may contract separately with a

gas supply operator.  Revenue is not recorded for the sale of the natural gas commodity to customers who have contracted separately with these

operators, only the delivery to a customer, as the utility is acting as an agent on behalf of the gas supply operator.  

The variance in tracked distribution revenues in 2024, as compared to 2023 is due primarily to the following:

(Millions of Dollars)Electric DistributionNatural Gas DistributionRetail Tariff Tracked Revenues:Energy supply procurement$(1,239.6)$(165.2)CL&P NBFMCC544.9 — NSTAR Electric net metering133.1 — Stranded costs127.1 — Retail transmission98.9 — CL&P System Benefit Charge88.4 — Other distribution tracking mechanisms159.2 44.0 Wholesale Market Sales Revenue33.9 (44.8)

Fluctuations in retail tariff tracked revenues are driven by adjustments to retail rates to recover costs and changes in sales volumes.

The decrease in energy supply procurement within electric distribution was driven by lower average prices and lower average supply-related sales volumes.  The decrease in energy supply procurement within natural gas distribution was driven by lower average prices, partially offset by higher average supply-related sales volumes.

51

The increase in CL&P’s NBFMCC revenues was driven by an increase