Company: CNLHP
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001628280-25-037369
Chunk: 158

Company: CONNECTICUT LIGHT & POWER CO
Filing Date: 2025-08-04
Form: 10-Q
Item: Item 8
Chunk 158
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 timing of costs incurred and related rate changes to recover these costs.  The CL&P non-bypassable FMCC retail rate increased and wholesale market sales revenues were higher in 2025 as compared to 2024.  These higher collections resulted in a corresponding increase to amortization expense of $158.5 million and $501.1 million for the CL&P non-bypassable FMCC deferral adjustment for the three and six month periods, respectively. 

Energy Efficiency Programs expense includes costs of various state energy policy initiatives and expanded energy efficiency programs that are recovered 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.  Energy Efficiency Programs expense decreased for the three month period due primarily to the deferral adjustment, partially offset by higher program spending.  Energy Efficiency Programs expense increased for the six month period due primarily to higher program spending.

Taxes Other Than Income Taxes expense increased for the three and six month periods due primarily to higher property taxes as a result of higher utility plant balances across our subsidiaries and higher mill rates at NSTAR Electric and higher Connecticut gross earnings taxes.

Interest Expense increased for the three and six month periods due primarily to the following:

(Millions of Dollars)Three Months EndedSix Months EndedLong-term debt$13.1 $47.0 Absence in 2025 of capitalized interest as a result of the sale of our offshore wind projects in the third quarter of 202430.6 54.7 Capitalized AFUDC related to debt funds (3.2)1.1 Amortization of debt discounts and premiums, net1.4 2.6 Regulatory deferrals(24.8)(38.7)Short-term notes payable5.1 5.1 RRBs(0.4)(0.8)Other0.1 0.9 Total Interest Expense$21.9 $71.9 

55

Other Income, Net decreased for the three and six month periods due primarily to the following:

(Millions of Dollars)Three Months EndedSix Months EndedPension, SERP and PBOP Non-Service Income Components, Net of Deferred Portion$5.5 $10.3 Interest Income (primarily on regulatory deferrals)(6