Company: CNLHP
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001628280-25-037369
Chunk: 47

Company: CONNECTICUT LIGHT & POWER CO
Filing Date: 2025-08-04
Form: 10-Q
Item: Item 2
Chunk 47
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3.9 $4.6 $1.4 Interest Income (primarily on regulatory deferrals)(7.0)(0.6)3.6 Capitalized AFUDC related to equity funds(6.4)(2.6)4.8 Investment Income/(Loss)0.1 (2.9)(0.1)Other0.1 — — Total Other Income, Net$(9.3)$(1.5)$9.7 

Income Tax Expense - the variance is due primarily to the following:

•The increase at CL&P was due primarily to higher pre-tax earnings ($7.7 million), a decrease in amortization of EDIT ($1.0 million), higher share-based payment tax deficiency ($0.2 million), higher state taxes ($2.8 million), and an increase in items that impact our tax rate as a result of regulatory treatment (flow-through items) and permanent differences ($0.2 million).

•The increase at NSTAR Electric was due primarily to higher pre-tax earnings ($4.9 million), higher state taxes ($1.1 million) and higher share-based payment tax deficiency ($0.4 million), partially offset by a decrease in items that impact our tax rate as a result of regulatory treatment (flow-through items) and permanent differences ($1.6 million).

•The increase at PSNH was due primarily to higher pre-tax earnings ($8.6 million), higher state taxes ($2.2 million) and higher share-based payment tax deficiency ($0.1 million), partially offset by an increase in amortization of EDIT ($0.3 million) and a decrease in items that impact our tax rate as a result of regulatory treatment (flow-through items) and permanent differences ($0.2 million).

EARNINGS SUMMARY

CL&P's earnings increased $24.9 million for the six month period due primarily to an increase in transmission earnings driven primarily by a higher transmission rate base and lower interest expense, higher revenues from its capital tracking mechanism due to increased electric system improvements, and lower operations and maintenance expense.  The earnings increase was partially offset by higher depreciation expense, lower net interest income on regulatory deferrals, and higher property tax expense.

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NSTAR Electric's earnings increased $18.5 million for the six month period due primarily to higher revenues as a result of the base distribution rate increase effective January 1, 2025, an increase in transmission earnings driven primarily by a higher transmission rate base and lower interest