Company: CNLHP
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000072741-25-000007
Chunk: 230

Company: CONNECTICUT LIGHT & POWER CO
Filing Date: 2025-02-14
Form: 10-K
Item: Item 7
Chunk 230
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 Expense194.5 170.9 23.6 190.6 153.0 37.6 70.2 59.0 11.2 Net Income$512.6 $518.7 $(6.1)$636.4 $544.5 $91.9 $214.9 $195.7 $19.2 

Operating Revenues

Sales Volumes:  A summary of our retail electric GWh sales volumes is as follows:

 For the Years Ended December 31, 20242023IncreasePercentageIncreaseCL&P 20,151 19,577 574 2.9 %NSTAR Electric23,365 22,401 964 4.3 %PSNH7,807 7,590 217 2.9 %

Fluctuations in retail electric sales volumes at PSNH impact earnings.  For CL&P and NSTAR Electric, fluctuations in retail electric sales volumes do not impact earnings due to their respective regulatory commission-approved distribution revenue decoupling mechanisms.

Operating Revenues:  Operating Revenues, which consist of base distribution revenues and tracked revenues further described below, increased $36.2 million at CL&P and $205.4 million at NSTAR Electric and decreased $153.4 million at PSNH in 2024, as compared to 2023.

Base Distribution Revenues:

•CL&P's distribution revenues were flat.

•NSTAR Electric's distribution revenues increased $105.3 million due primarily to a base distribution rate increase effective January 1, 2024.

•PSNH's distribution revenues increased $35.8 million due primarily to a temporary base distribution rate increase effective August 1, 2024.

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Tracked Distribution Revenues:  Tracked distribution revenues consist of certain costs that are recovered from customers in retail rates on a fully reconciling basis through regulatory commission-approved cost tracking mechanisms and therefore, recovery of these costs has no impact on earnings.  Costs recovered through cost tracking mechanisms include, among others, energy supply procurement, state mandated energy purchase agreements and other energy-related costs, retail transmission charges, energy efficiency program costs, electric restructuring and stranded cost recovery revenues (including securitized RRB charges), certain capital tracking mechanisms for infrastructure improvements, and additionally for NSTAR Electric, pension and PBOP benefits, net metering for distributed generation, and solar-related programs.  Revenues from certain of these cost tracking mechanisms also include certain incentives earned