Company: CNLHP
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001628280-25-037369
Chunk: 11

Company: CONNECTICUT LIGHT & POWER CO
Filing Date: 2025-08-04
Form: 10-Q
Item: Item 2
Chunk 11
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 shares, which resulted in proceeds of $218.0 million, net of issuance costs.  Eversource used the net proceeds received for general corporate purposes.

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 $2.10 billion in the first half of 2025, compared with $962.0 million in the first half of 2024.  Operating cash flows were favorably impacted by an improvement in regulatory recoveries driven primarily by the timing of collections for CL&P’s non-bypassable FMCC, CL&P’s SBC, and other regulatory tracking mechanisms.  The CL&P non-bypassable FMCC retail rate increased as a result of the 2024 RAM decision and the net Millstone and Seabrook contract cash flows were higher in 2025 as compared to 2024.  These higher collections resulted in an improvement to operating cash flows of $501.1 million for the six month period.  The impacts of regulatory collections are included in both Regulatory Recoveries and Amortization on the statements of cash flows.  Operating cash flows were also favorably impacted by a decrease of $200.4 million in cash payments to vendors for storm costs and the timing of cash collections on our accounts receivable.  These favorable impacts were partially offset by the timing of cash payments made on our accounts payable, an increase in cost of removal expenditures, a decrease of $19.0 million in income tax refunds received in 2025 compared to 2024, and the timing of other working capital items. 

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.  In the first half of 2025, we paid cash dividends of $540.9 million and issued non-cash dividends of $11.8 million in the form of treasury shares, totaling dividends of $552.7 million.  In the first half of 2024, we paid cash dividends of $490.9 million and issued non-cash dividends of $12.0 million in the form of treasury shares, totaling dividends of $502.9 million. 

Eversource issues treasury shares to satisfy awards under the Company's incentive plans, shares issued under the dividend reinvestment