Company: CNLHP
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001628280-25-037369
Chunk: 124

Company: CONNECTICUT LIGHT & POWER CO
Filing Date: 2025-08-04
Form: 10-Q
Item: Item 8
Chunk 124
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7 million as of June 30, 2025, compared with $26.7 million as of December 31, 2024.  Our available borrowing capacity under our commercial paper programs totaled $1.27 billion as of June 30, 2025.  

•In the first half of 2025, we issued $1.73 billion of new long-term debt and we repaid $375 million of long-term debt.

•On May 1, 2025, our Board of Trustees approved a common share dividend payment of $0.7525 per share, payable on June 30, 2025 to shareholders of record as of May 15, 2025.

•On May 30, 2025, we entered into an equity distribution agreement pursuant to which we may offer and sell up to $1.2 billion of our common shares from time to time through an ATM equity offering program.  In the second quarter of 2025, we issued 3,378,765 common shares, which resulted in proceeds of $218.0 million, net of issuance costs. 

Regulatory Developments:

•On July 25, 2025, the NHPUC issued its decision in the PSNH distribution rate case and approved a permanent rate increase of $100.7 million, effective August 1, 2025, inclusive of the temporary rate increase that went into effect in August 2024.  The order established an authorized regulatory ROE of 9.5 percent with a 50 percent common equity ratio in PSNH’s capital structure.  The NHPUC approved an  alternative regulatory framework that authorizes annual revenue adjustments on August 1st of 2026, 2027 and 2028, with a requirement for PSNH to file for its next base distribution rate increase for effect in June 2029.  The framework includes a revenue-cap formula adjusted for annual inflation and a productivity factor adjustment to provide PSNH with increased revenue for capital and overhead, an exogenous events recovery mechanism, performance metrics and an earnings sharing mechanism. 

41

Earnings Overview

Consolidated:  Below is a summary of our earnings by business, which also reconciles the non-GAAP financial measure of EPS by business to the most directly comparable GAAP measure of diluted EPS.

 For the Three Months Ended June 30,For the Six Months Ended June 30,2025202420252024(Millions of Dollars, Except Per