Company: CNLHP
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001628280-25-037369
Chunk: 155

Company: CONNECTICUT LIGHT & POWER CO
Filing Date: 2025-08-04
Form: 10-Q
Item: Item 8
Chunk 155
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 $72.46 per MWh for the three and six months ended June 30, 2025, as compared to $28.30 per MWh and $32.90 per MWh for the same periods in 2024, driven primarily by higher natural gas prices in New England.  Volumes sold into the market were primarily from the sale of output generated by the Millstone PPA and Seabrook PPA with CL&P.

CL&P is required by regulation to purchase electric generation from Millstone and Seabrook under PURA-approved PPAs entered into in 2019.  CL&P does not have legislative authority to use this purchased output to serve its customer load and therefore sells the energy into the wholesale market and uses the proceeds from the energy sales to offset the contract costs.  The net cost or net sales amount is recovered from, or refunded to, customers in the non-bypassable component of the CL&P FMCC rate.  Changes in CL&P’s NBFMCC retail revenues and CL&P’s wholesale market sales, as compared to the actual costs incurred, are deferred on the income statement by an offset to amortization expense.  

Electric Transmission Revenues:  Electric transmission revenues increased $34.6 million and $74.6 million for the three and six month periods, due primarily to a higher transmission rate base as a result of our continued investment in our transmission infrastructure.

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Other Revenues and Eliminations:  Other revenues primarily include the revenues of Eversource's service company, most of which are eliminated in consolidation.  Eliminations are also related to the Eversource electric transmission revenues that are derived from ISO-NE regional transmission charges to the distribution businesses of CL&P, NSTAR Electric and PSNH that recover the costs of the wholesale transmission business in rates charged to their customers.

Purchased Power, Purchased Natural Gas and Transmission expense includes costs associated with providing electric generation service supply and natural gas to all customers who have not migrated to third party suppliers, the cost of energy purchase contracts entered into as required by regulation, and transmission costs.  These electric and natural gas supply procurement costs, other energy-related costs, and transmission costs are recovered from customers in rates through commission-approved cost tracking mechanisms, which have no impact on earnings (tracked costs).  The variance in Purchased Power, Purchased Natural Gas and Transmission expense is due primarily to the following: 

(Millions of Dollars)Three Months Ended Six Months EndedEnergy supply procurement costs$(84.0