Company: CNLHP
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050033
Chunk: 46

Company: CONNECTICUT LIGHT & POWER CO
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 2
Chunk 46
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 the three and nine month periods due primarily to the deferral adjustment and higher program spending. 

Taxes Other Than Income Taxes expense increased for the three and nine 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.

60

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

(Millions of Dollars)Three Months EndedNine Months EndedLong-term debt$15.5 $62.5 Absence in 2025 of capitalized interest as a result of the sale of our offshore   wind projects in the third quarter of 202414.6 69.3 Capitalized AFUDC related to debt funds(4.1)(3.0)Amortization of debt discounts and premiums, net1.3 3.9 Regulatory deferrals(9.2)(47.9)Short-term notes payable(0.8)4.3 RRBs(0.4)(1.2)Other0.6 1.5 Total Interest Expense$17.5 $89.4 

Losses on Offshore Wind for the three and nine months ended 2025 relates to the pre-tax charge of $284 million associated with increasing our offshore wind contingent liability for expected future payments under the terms of the 2024 sale agreement with GIP for the South Fork Wind and Revolution Wind projects recorded in the third quarter of 2025.  Losses on Offshore Wind for the three and nine months ended 2024 relates to the loss recorded on the third quarter 2024 sales of our equity method offshore wind investments.  See "Earnings Overview — Offshore Wind Contingent Liability" included in this Management's Discussion and Analysis of Financial Condition and Results of Operations for further information.  

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

(Millions of Dollars)Three Months EndedNine Months EndedPension, SERP and PBOP Non-Service Income Components, Net of Deferred Portion$4.0 $14.3 Interest Income (primarily on regulatory deferrals)(9.5)(11.8)Capitalized AFUDC related to equity funds(3.0)(4.0)Equity in Earnings of Unconsolidated Affiliates(12.6)(32.8)Investment Income/(Loss)(0.7)(5