Company: CNLHP
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000072741-25-000007
Chunk: 176

Company: CONNECTICUT LIGHT & POWER CO
Filing Date: 2025-02-14
Form: 10-K
Item: Item 7
Chunk 176
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aid Series P bonds at maturityYankee Gas Series P First Mortgage Bonds2.23 %(100.0)October 2024October 2024Paid at maturityEGMA Series E First Mortgage Bonds5.17 %100.0 October 2024November 2034Refinanced existing indebtedness, paid capital expenditures and general corporate purposesAquarion Senior Notes4.00 %(360.0)August 2024August 2024Paid at maturityAquarion Water Company of Connecticut Senior Notes5.57 %70.0 August 2024September 2034Repaid short-term debt, paid capital expenditures and general corporate purposes

As a result of the CL&P long-term debt issuance in January 2025, $397.1 million of current portion of long-term debt was reclassified to Long-Term Debt on Eversource’s and CL&P’s balance sheets as of December 31, 2024.  

Rate Reduction Bonds:  PSNH's RRB payments consist of principal and interest and are paid semi-annually.  PSNH paid $43.2 million of RRB principal payments in each of 2024 and 2023, and paid $14.9 million and $16.2 million of interest payments in 2024 and 2023, respectively.

Common Share Issuances:  Eversource had an equity distribution agreement pursuant to which it could offer and sell up to $1.2 billion of its common shares from time to time through an “at-the-market” (ATM) equity offering program.  In 2024, Eversource issued 15,740,294 common shares, which resulted in proceeds of $989.4 million, net of issuance costs.  Eversource used the net proceeds received for general corporate purposes.  In 2023, no shares were issued under this agreement.  Eversource completed the program in October 2024. 

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Cash Flows:  Cash flows from operating activities primarily result from the transmission and distribution of electricity, and the distribution of natural gas and water.  Cash flows provided by operating activities totaled $2.16 billion in 2024, compared with $1.65 billion in 2023.  Operating cash flows were favorably impacted by the timing of cash payments made on our accounts payable, a $108.8 million increase due to income tax refunds received in 2024 as compared to income tax payments made