10-Q

	UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549
	FORM	10-Q
☒	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
	For the Quarterly Period Ended	March 31, 2022
	or
☐	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE      SECURITIES EXCHANGE ACT OF 1934
	For the transition period from ____________ to ____________

Registrant; State of Incorporation; Address; Telephone Number;

Commission File Number; and I.R.S. Employer Identification No.

EVERSOURCE ENERGY

(a Massachusetts voluntary association)

300 Cadwell Drive, Springfield, Massachusetts 01104

Telephone: (800) 286-5000

Commission File Number: 001-05324

I.R.S. Employer Identification No. 04-2147929

THE CONNECTICUT LIGHT AND POWER COMPANY

(a Connecticut corporation)

107 Selden Street, Berlin, Connecticut 06037-1616

Telephone: (800) 286-5000

Commission File Number: 000-00404

I.R.S. Employer Identification No. 06-0303850

NSTAR ELECTRIC COMPANY

(a Massachusetts corporation)

800 Boylston Street, Boston, Massachusetts 02199

Telephone: (800) 286-5000

Commission File Number: 001-02301

I.R.S. Employer Identification No. 04-1278810

PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE

(a New Hampshire corporation)

Energy Park

780 North Commercial Street, Manchester, New Hampshire 03101-1134

Telephone: (800) 286-5000

Commission File Number: 001-06392

I.R.S. Employer Identification No. 02-0181050

Securities registered pursuant to Section 12(b) of the Act:
Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Shares, $5.00 par value per share	ES	New York Stock Exchange

Indicate by check mark whether the registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days.

Yes	No
☒	☐

Indicate by check mark whether the registrants have submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrants were required to submit such files).

Yes	No
☒	☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Eversource Energy	Large accelerated filer	☒	Accelerated filer	☐	Non-accelerated filer	☐	Smaller reporting company	☐	Emerging growth company	☐
The Connecticut Light and Power Company	Large accelerated filer	☐	Accelerated filer	☐	Non-accelerated filer	☒	Smaller reporting company	☐	Emerging growth company	☐
NSTAR Electric Company	Large accelerated filer	☐	Accelerated filer	☐	Non-accelerated filer	☒	Smaller reporting company	☐	Emerging growth company	☐
Public Service Company of New Hampshire	Large accelerated filer	☐	Accelerated filer	☐	Non-accelerated filer	☒	Smaller reporting company	☐	Emerging growth company	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Indicate by check mark whether the registrants are shell companies (as defined in Rule 12b-2 of the Exchange Act):

	Yes	No
Eversource Energy	☐	☒
The Connecticut Light and Power Company	☐	☒
NSTAR Electric Company	☐	☒
Public Service Company of New Hampshire	☐	☒

Indicate the number of shares outstanding of each of the registrant's classes of common stock, as of the latest practicable date.

Company - Class of Stock	Outstanding as of April 30, 2022
Eversource Energy Common Shares, $5.00 par value	344,878,136	shares
The Connecticut Light and Power Company Common Stock, $10.00 par value	6,035,205	shares
NSTAR Electric Company Common Stock, $1.00 par value	200	shares
Public Service Company of New Hampshire Common Stock, $1.00 par value	301	shares

Eversource Energy holds all of the 6,035,205 shares, 200 shares, and 301 shares of the outstanding common stock of The Connecticut Light and Power Company, NSTAR Electric Company, and Public Service Company of New Hampshire, respectively.

NSTAR Electric Company and Public Service Company of New Hampshire each meet the conditions set forth in General Instruction H(1)(a) and (b) of Form 10-Q, and each is therefore filing this Form 10-Q with the reduced disclosure format specified in General Instruction H(2) of Form 10‑Q.

Eversource Energy, The Connecticut Light and Power Company, NSTAR Electric Company, and Public Service Company of New Hampshire each separately file this combined Form 10-Q.  Information contained herein relating to any individual registrant is filed by such registrant on its own behalf.  Each registrant makes no representation as to information relating to the other registrants.

GLOSSARY OF TERMS

The following is a glossary of abbreviations and acronyms that are found in this report:

Current or former Eversource Energy companies, segments or investments:
Eversource, ES or the Company	Eversource Energy and subsidiaries
Eversource parent or ES parent	Eversource Energy, a public utility holding company
ES parent and other companies	ES parent and other companies are comprised of Eversource parent, Eversource Service, and other subsidiaries, which primarily includes our unregulated businesses, HWP Company, The Rocky River Realty Company (a real estate subsidiary), the consolidated operations of CYAPC and YAEC, and Eversource parent's equity ownership interests that are not consolidated
CL&P	The Connecticut Light and Power Company
NSTAR Electric	NSTAR Electric Company
PSNH	Public Service Company of New Hampshire
PSNH Funding	PSNH Funding LLC 3, a bankruptcy remote, special purpose, wholly-owned subsidiary of PSNH
NSTAR Gas	NSTAR Gas Company
EGMA	Eversource Gas Company of Massachusetts
Yankee Gas	Yankee Gas Services Company
Aquarion	Aquarion Company and its subsidiaries
HEEC	Harbor Electric Energy Company, a wholly-owned subsidiary of NSTAR Electric
Eversource Service	Eversource Energy Service Company
North East Offshore	North East Offshore, LLC, an offshore wind business being developed jointly by Eversource and Denmark-based Ørsted
CYAPC	Connecticut Yankee Atomic Power Company
MYAPC	Maine Yankee Atomic Power Company
YAEC	Yankee Atomic Electric Company
Yankee Companies	CYAPC, YAEC and MYAPC
Regulated companies	The Eversource regulated companies are comprised of the electric distribution and transmission businesses of CL&P, NSTAR Electric and PSNH, the natural gas distribution businesses of Yankee Gas, NSTAR Gas and EGMA, Aquarion’s water distribution businesses, and the solar power facilities of NSTAR Electric
Regulators and Government Agencies:
BOEM	U.S. Bureau of Ocean Energy Management
DEEP	Connecticut Department of Energy and Environmental Protection
DOE	U.S. Department of Energy
DOER	Massachusetts Department of Energy Resources
DPU	Massachusetts Department of Public Utilities
EPA	U.S. Environmental Protection Agency
FERC	Federal Energy Regulatory Commission
ISO-NE	ISO New England, Inc., the New England Independent System Operator
MA DEP	Massachusetts Department of Environmental Protection
NHPUC	New Hampshire Public Utilities Commission
PURA	Connecticut Public Utilities Regulatory Authority
SEC	U.S. Securities and Exchange Commission
Other Terms and Abbreviations:
ADIT	Accumulated Deferred Income Taxes
AFUDC	Allowance For Funds Used During Construction
AOCI	Accumulated Other Comprehensive Income
ARO	Asset Retirement Obligation
Bcf	Billion cubic feet
CfD	Contract for Differences
CWIP	Construction Work in Progress
EDC	Electric distribution company
EDIT	Excess Deferred Income Taxes
EPS	Earnings Per Share
ERISA	Employee Retirement Income Security Act of 1974
ESOP	Employee Stock Ownership Plan
Eversource 2021 Form 10-K	The Eversource Energy and Subsidiaries 2021 combined Annual Report on Form 10-K as filed with the SEC
Fitch	Fitch Ratings, Inc.

i

FMCC	Federally Mandated Congestion Charge
GAAP	Accounting principles generally accepted in the United States of America
GWh	Gigawatt-Hours
IPP	Independent Power Producers
ISO-NE Tariff	ISO-NE FERC Transmission, Markets and Services Tariff
kV	Kilovolt
kVa	Kilovolt-ampere
kW	Kilowatt (equal to one thousand watts)
LNG	Liquefied natural gas
LRS	Supplier of last resort service
MG	Million gallons
MGP	Manufactured Gas Plant
MMBtu	One million British thermal units
MMcf	Million cubic feet
Moody's	Moody's Investors Services, Inc.
MW	Megawatt
MWh	Megawatt-Hours
NETOs	New England Transmission Owners (including Eversource, National Grid and Avangrid)
OCI	Other Comprehensive Income/(Loss)
PAM	Pension and PBOP Rate Adjustment Mechanism
PBOP	Postretirement Benefits Other Than Pension
PBOP Plan	Postretirement Benefits Other Than Pension Plan
Pension Plan	Single uniform noncontributory defined benefit retirement plan
PPA	Power purchase agreement
RECs	Renewable Energy Certificates
Regulatory ROE	The average cost of capital method for calculating the return on equity related to the distribution business segment excluding the wholesale transmission segment
ROE	Return on Equity
RRBs	Rate Reduction Bonds or Rate Reduction Certificates
RSUs	Restricted share units
S&P	Standard & Poor's Financial Services LLC
SERP	Supplemental Executive Retirement Plans and non-qualified defined benefit retirement plans
SS	Standard service
UI	The United Illuminating Company
VIE	Variable Interest Entity

ii

EVERSOURCE ENERGY AND SUBSIDIARIES   

THE CONNECTICUT LIGHT AND POWER COMPANY

NSTAR ELECTRIC COMPANY AND SUBSIDIARY

PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE AND SUBSIDIARIES

TABLE OF CONTENTS

		Page
PART I – FINANCIAL INFORMATION
ITEM 1.	Financial Statements (Unaudited)
	Eversource Energy and Subsidiaries (Unaudited)
	Condensed Consolidated Balance Sheets	1
	Condensed Consolidated Statements of Income	2
	Condensed Consolidated Statements of Comprehensive Income	2
	Condensed Consolidated Statements of Common Shareholders' Equity	3
	Condensed Consolidated Statements of Cash Flows	4
	The Connecticut Light and Power Company (Unaudited)
	Condensed Balance Sheets	5
	Condensed Statements of Income	6
	Condensed Statements of Comprehensive Income	6
	Condensed Statements of Common Stockholder's Equity	7
	Condensed Statements of Cash Flows	8
	NSTAR Electric Company and Subsidiary (Unaudited)
	Condensed Consolidated Balance Sheets	9
	Condensed Consolidated Statements of Income	10
	Condensed Consolidated Statements of Comprehensive Income	10
	Condensed Consolidated Statements of Common Stockholder's Equity	11
	Condensed Consolidated Statements of Cash Flows	12
	Public Service Company of New Hampshire and Subsidiaries (Unaudited)
	Condensed Consolidated Balance Sheets	13
	Condensed Consolidated Statements of Income	14
	Condensed Consolidated Statements of Comprehensive Income	14
	Condensed Consolidated Statements of Common Stockholder's Equity	15
	Condensed Consolidated Statements of Cash Flows	16
	Combined Notes to Condensed Financial Statements (Unaudited)	17
ITEM 2.	Management's Discussion and Analysis of Financial Condition and Results of Operations
	Eversource Energy and Subsidiaries	36
	The Connecticut Light and Power Company, NSTAR Electric Company and Subsidiary, and Public Service Company of New Hampshire and Subsidiaries	50
ITEM 3.	Quantitative and Qualitative Disclosures About Market Risk	55
ITEM 4.	Controls and Procedures	55
PART II – OTHER INFORMATION
ITEM 1.	Legal Proceedings	56
ITEM 1A.	Risk Factors	56
ITEM 2.	Unregistered Sales of Equity Securities and Use of Proceeds	56
ITEM 6.	Exhibits	57
SIGNATURES		58

iii

EVERSOURCE ENERGY AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)

(Thousands of Dollars)	As of March 31, 2022		As of December 31, 2021
ASSETS
Current Assets:
Cash	$	46,175	$	66,773
Receivables, Net (net of allowance for uncollectible accounts of $432,174    and $417,406 as of March 31, 2022 and December 31, 2021, respectively)	1,468,558		1,226,069
Unbilled Revenues	192,913		210,879
Fuel, Materials, Supplies and REC Inventory	287,042		267,547
Regulatory Assets	1,128,088		1,129,093
Prepayments and Other Current Assets	350,907		369,759
Total Current Assets	3,473,683		3,270,120
Property, Plant and Equipment, Net	33,852,596		33,377,650
Deferred Debits and Other Assets:
Regulatory Assets	4,573,309		4,586,709
Goodwill	4,477,118		4,477,269
Investments in Unconsolidated Affiliates	1,545,433		1,436,293
Marketable Securities	423,216		460,347
Other Long-Term Assets	943,797		883,756
Total Deferred Debits and Other Assets	11,962,873		11,844,374
Total Assets	$	49,289,152	$	48,492,144
LIABILITIES AND CAPITALIZATION
Current Liabilities:
Notes Payable	$	1,668,800	$	1,505,450
Long-Term Debt – Current Portion	817,114		1,193,097
Rate Reduction Bonds – Current Portion	43,210		43,210
Accounts Payable	1,494,360		1,672,230
Regulatory Liabilities	652,358		602,432
Other Current Liabilities	925,467		830,620
Total Current Liabilities	5,601,309		5,847,039
Deferred Credits and Other Liabilities:
Accumulated Deferred Income Taxes	4,683,105		4,597,120
Regulatory Liabilities	3,894,768		3,866,251
Derivative Liabilities	209,548		235,387
Asset Retirement Obligations	500,685		500,111
Accrued Pension, SERP and PBOP	200,614		242,463
Other Long-Term Liabilities	862,304		971,080
Total Deferred Credits and Other Liabilities	10,351,024		10,412,412
Long-Term Debt	17,912,462		17,023,577
Rate Reduction Bonds	432,097		453,702
Noncontrolling Interest – Preferred Stock of Subsidiaries	155,570		155,570
Common Shareholders' Equity:
Common Shares	1,789,092		1,789,092
Capital Surplus, Paid In	8,102,618		8,098,514
Retained Earnings	5,229,069		5,005,391
Accumulated Other Comprehensive Loss	(41,571)		(42,275)
Treasury Stock	(242,518)		(250,878)
Common Shareholders' Equity	14,836,690		14,599,844
Commitments and Contingencies (Note 9)
Total Liabilities and Capitalization	$	49,289,152	$	48,492,144

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

1

EVERSOURCE ENERGY AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)

	For the Three Months Ended March 31,
(Thousands of Dollars, Except Share Information)	2022		2021
Operating Revenues	$	3,471,310	$	2,825,840
Operating Expenses:
Purchased Power, Fuel and Transmission	1,389,696		998,491
Operations and Maintenance	472,433		465,542
Depreciation	289,330		270,704
Amortization	236,948		108,013
Energy Efficiency Programs	199,484		188,063
Taxes Other Than Income Taxes	220,364		209,459
Total Operating Expenses	2,808,255		2,240,272
Operating Income	663,055		585,568
Interest Expense	153,245		137,766
Other Income, Net	71,561		34,201
Income Before Income Tax Expense	581,371		482,003
Income Tax Expense	136,045		113,980
Net Income	445,326		368,023
Net Income Attributable to Noncontrolling Interests	1,880		1,880
Net Income Attributable to Common Shareholders	$	443,446	$	366,143
Basic Earnings Per Common Share	$	1.28	$	1.07
Diluted Earnings Per Common Share	$	1.28	$	1.06
Weighted Average Common Shares Outstanding:
Basic	345,156,346		343,678,243
Diluted	345,661,133		344,334,689

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(Unaudited)

	For the Three Months Ended March 31,
(Thousands of Dollars)	2022		2021
Net Income	$	445,326	$	368,023
Other Comprehensive Income, Net of Tax:
Qualified Cash Flow Hedging Instruments	5		407
Changes in Unrealized Losses on Marketable Securities	(817)		(736)
Changes in Funded Status of Pension, SERP and PBOP Benefit Plans	1,516		1,517
Other Comprehensive Income, Net of Tax	704		1,188
Comprehensive Income Attributable to Noncontrolling Interests	(1,880)		(1,880)
Comprehensive Income Attributable to Common Shareholders	$	444,150	$	367,331

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

2

EVERSOURCE ENERGY AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF COMMON SHAREHOLDERS' EQUITY

(Unaudited)

	For the Three Months Ended March 31, 2022
	Common Shares			Capital Surplus, Paid In		Retained Earnings		Accumulated Other Comprehensive Loss		Treasury Stock		Total Common Shareholders' Equity
(Thousands of Dollars, Except Share Information)	Shares	Amount
Balance as of January 1, 2022	344,403,196	$	1,789,092	$	8,098,514	$	5,005,391	$	(42,275)	$	(250,878)	$	14,599,844
Net Income						445,326						445,326
Dividends on Common Shares - $0.6375 Per Share						(219,768)						(219,768)
Dividends on Preferred Stock						(1,880)						(1,880)
Long-Term Incentive Plan Activity				(16,538)								(16,538)
Issuance of Treasury Shares	447,076			20,642						8,360		29,002
Other Comprehensive Income								704				704
Balance as of March 31, 2022	344,850,272	$	1,789,092	$	8,102,618	$	5,229,069	$	(41,571)	$	(242,518)	$	14,836,690

	For the Three Months Ended March 31, 2021
	Common Shares			Capital Surplus, Paid In		Retained Earnings		Accumulated Other Comprehensive Loss		Treasury Stock		Total Common Shareholders' Equity
(Thousands of Dollars, Except Share Information)	Shares	Amount
Balance as of January 1, 2021	342,954,023	$	1,789,092	$	8,015,663	$	4,613,201	$	(76,411)	$	(277,979)	$	14,063,566
Net Income						368,023						368,023
Dividends on Common Shares - $0.6025 Per Share						(206,913)						(206,913)
Dividends on Preferred Stock						(1,880)						(1,880)
Long-Term Incentive Plan Activity				(15,727)								(15,727)
Issuance of Treasury Shares	480,275			16,182						8,981		25,163
Other Comprehensive Income								1,188				1,188
Balance as of March 31, 2021	343,434,298	$	1,789,092	$	8,016,118	$	4,772,431	$	(75,223)	$	(268,998)	$	14,233,420

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

3

EVERSOURCE ENERGY AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

	For the Three Months Ended March 31,
(Thousands of Dollars)	2022		2021
Operating Activities:
Net Income	$	445,326	$	368,023
Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities:
Depreciation	289,330		270,704
Deferred Income Taxes	67,557		41,917
Uncollectible Expense	17,135		16,295
Pension, SERP and PBOP Income, Net	(40,642)		(2,341)
Pension and PBOP Contributions	(26,100)		(31,100)
Regulatory (Under)/Over Recoveries, Net	(107,767)		28,024
(Customer Credits)/Reserve at CL&P related to PURA Settlement Agreement and Storm     Performance Penalty	(58,412)		30,000
Amortization	236,948		108,013
Cost of Removal Expenditures	(61,660)		(39,333)
Other	(21,409)		(51,913)
Changes in Current Assets and Liabilities:
Receivables and Unbilled Revenues, Net	(291,723)		(124,344)
Fuel, Materials, Supplies and REC Inventory	(19,495)		(42,494)
Taxes Receivable/Accrued, Net	56,519		64,076
Accounts Payable	(68,909)		(181,725)
Other Current Assets and Liabilities, Net	(44,758)		(42,386)
Net Cash Flows Provided by Operating Activities	371,940		411,416
Investing Activities:
Investments in Property, Plant and Equipment	(764,594)		(688,983)
Proceeds from Sales of Marketable Securities	90,409		79,818
Purchases of Marketable Securities	(76,182)		(68,360)
Investments in Unconsolidated Affiliates, Net	(113,856)		(34,127)
Other Investing Activities	5,976		7,135
Net Cash Flows Used in Investing Activities	(858,247)		(704,517)
Financing Activities:
Cash Dividends on Common Shares	(213,890)		(201,013)
Cash Dividends on Preferred Stock	(1,880)		(1,880)
Increase in Notes Payable	163,350		669,919
Repayment of Rate Reduction Bonds	(21,605)		(21,605)
Issuance of Long-Term Debt	1,300,000		350,000
Retirement of Long-Term Debt	(770,000)		(572,000)
Other Financing Activities	(26,087)		(19,666)
Net Cash Flows Provided by Financing Activities	429,888		203,755
Net Decrease in Cash and Restricted Cash	(56,419)		(89,346)
Cash and Restricted Cash - Beginning of Period	221,008		264,950
Cash and Restricted Cash - End of Period	$	164,589	$	175,604

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

4

THE CONNECTICUT LIGHT AND POWER COMPANY

CONDENSED BALANCE SHEETS

(Unaudited)

(Thousands of Dollars)	As of March 31, 2022		As of December 31, 2021
ASSETS
Current Assets:
Cash	$	21,628	$	55,804
Receivables, Net (net of allowance for uncollectible accounts of $180,524 and    $181,319 as of March 31, 2022 and December 31, 2021, respectively)	567,718		447,774
Accounts Receivable from Affiliated Companies	46,852		43,944
Unbilled Revenues	50,515		56,787
Materials and Supplies	65,196		60,264
Regulatory Assets	382,112		371,609
Prepayments and Other Current Assets	95,710		120,257
Total Current Assets	1,229,731		1,156,439
Property, Plant and Equipment, Net	10,941,005		10,803,543
Deferred Debits and Other Assets:
Regulatory Assets	1,681,057		1,713,161
Other Long-Term Assets	287,028		276,513
Total Deferred Debits and Other Assets	1,968,085		1,989,674
Total Assets	$	14,138,821	$	13,949,656
LIABILITIES AND CAPITALIZATION
Current Liabilities:
Long-Term Debt – Current Portion	$	400,000	$	—
Accounts Payable	514,385		533,454
Accounts Payable to Affiliated Companies	126,363		132,578
Regulatory Liabilities	251,555		266,489
Derivative Liabilities	74,428		73,528
Other Current Liabilities	174,210		141,955
Total Current Liabilities	1,540,941		1,148,004
Deferred Credits and Other Liabilities:
Accumulated Deferred Income Taxes	1,588,370		1,562,102
Regulatory Liabilities	1,208,297		1,193,259
Derivative Liabilities	209,548		235,387
Other Long-Term Liabilities	181,850		179,824
Total Deferred Credits and Other Liabilities	3,188,065		3,170,572
Long-Term Debt	3,815,662		4,215,379
Preferred Stock Not Subject to Mandatory Redemption	116,200		116,200
Common Stockholder's Equity:
Common Stock	60,352		60,352
Capital Surplus, Paid In	3,110,765		3,010,765
Retained Earnings	2,306,620		2,228,133
Accumulated Other Comprehensive Income	216		251
Common Stockholder's Equity	5,477,953		5,299,501
Commitments and Contingencies (Note 9)
Total Liabilities and Capitalization	$	14,138,821	$	13,949,656

The accompanying notes are an integral part of these unaudited condensed financial statements.

5

THE CONNECTICUT LIGHT AND POWER COMPANY

CONDENSED STATEMENTS OF INCOME

(Unaudited)

	For the Three Months Ended March 31,
(Thousands of Dollars)	2022		2021
Operating Revenues	$	1,285,831	$	987,274
Operating Expenses:
Purchased Power and Transmission	523,463		373,274
Operations and Maintenance	157,061		175,420
Depreciation	87,265		83,405
Amortization of Regulatory Assets, Net	169,749		62,775
Energy Efficiency Programs	35,397		35,573
Taxes Other Than Income Taxes	90,373		91,392
Total Operating Expenses	1,063,308		821,839
Operating Income	222,523		165,435
Interest Expense	40,586		38,979
Other Income, Net	19,564		4,908
Income Before Income Tax Expense	201,501		131,364
Income Tax Expense	48,524		32,966
Net Income	$	152,977	$	98,398

The accompanying notes are an integral part of these unaudited condensed financial statements.

CONDENSED STATEMENTS OF COMPREHENSIVE INCOME

(Unaudited)

	For the Three Months Ended March 31,
(Thousands of Dollars)	2022		2021
Net Income	$	152,977	$	98,398
Other Comprehensive Loss, Net of Tax:
Qualified Cash Flow Hedging Instruments	(7)		(7)
Changes in Unrealized Losses on Marketable Securities	(28)		(25)
Other Comprehensive Loss, Net of Tax	(35)		(32)
Comprehensive Income	$	152,942	$	98,366

The accompanying notes are an integral part of these unaudited condensed financial statements.

6

THE CONNECTICUT LIGHT AND POWER COMPANY

CONDENSED STATEMENTS OF COMMON STOCKHOLDER'S EQUITY

(Unaudited)

	For the Three Months Ended March 31, 2022
	Common Stock			Capital Surplus, Paid In		Retained Earnings		Accumulated Other Comprehensive Income		Total Common Stockholder's Equity
(Thousands of Dollars, Except Stock Information)	Stock	Amount
Balance as of January 1, 2022	6,035,205	$	60,352	$	3,010,765	$	2,228,133	$	251	$	5,299,501
Net Income						152,977				152,977
Dividends on Preferred Stock						(1,390)				(1,390)
Dividends on Common Stock						(73,100)				(73,100)
Capital Contributions from Eversource Parent				100,000						100,000
Other Comprehensive Loss								(35)		(35)
Balance as of March 31, 2022	6,035,205	$	60,352	$	3,110,765	$	2,306,620	$	216	$	5,477,953

	For the Three Months Ended March 31, 2021
	Common Stock			Capital Surplus, Paid In		Retained Earnings		Accumulated Other Comprehensive Income		Total Common Stockholder's Equity
(Thousands of Dollars, Except Stock Information)	Stock	Amount
Balance as of January 1, 2021	6,035,205	$	60,352	$	2,810,765	$	2,173,367	$	302	$	5,044,786
Net Income						98,398				98,398
Dividends on Preferred Stock						(1,390)				(1,390)
Dividends on Common Stock						(70,100)				(70,100)
Other Comprehensive Loss								(32)		(32)
Balance as of March 31, 2021	6,035,205	$	60,352	$	2,810,765	$	2,200,275	$	270	$	5,071,662

The accompanying notes are an integral part of these unaudited condensed financial statements.

7

THE CONNECTICUT LIGHT AND POWER COMPANY

CONDENSED STATEMENTS OF CASH FLOWS

(Unaudited)

	For the Three Months Ended March 31,
(Thousands of Dollars)	2022		2021
Operating Activities:
Net Income	$	152,977	$	98,398
Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities:
Depreciation	87,265		83,405
Deferred Income Taxes	19,627		25,354
Uncollectible Expense	3,776		3,797
Pension, SERP, and PBOP (Income)/Expense, Net	(7,330)		3,088
Pension Contributions	—		(18,940)
Regulatory Underrecoveries, Net	(162,474)		(59,971)
(Customer Credits)/Reserve related to PURA Settlement Agreement and Storm     Performance Penalty	(58,412)		30,000
Amortization of Regulatory Assets, Net	169,749		62,775
Cost of Removal Expenditures	(16,684)		(17,293)
Other	(9,357)		(12,777)
Changes in Current Assets and Liabilities:
Receivables and Unbilled Revenues, Net	(125,429)		(66,930)
Taxes Receivable/Accrued, Net	67,708		29,596
Accounts Payable	38,010		17,124
Other Current Assets and Liabilities, Net	(24,143)		(21,433)
Net Cash Flows Provided by Operating Activities	135,283		156,193
Investing Activities:
Investments in Property, Plant and Equipment	(205,343)		(197,954)
Other Investing Activities	346		80
Net Cash Flows Used in Investing Activities	(204,997)		(197,874)
Financing Activities:
Cash Dividends on Common Stock	(73,100)		(70,100)
Cash Dividends on Preferred Stock	(1,390)		(1,390)
Capital Contributions from Eversource Parent	100,000		—
Increase in Notes Payable to Eversource Parent	—		32,100
Other Financing Activities	—		(450)
Net Cash Flows Provided by/(Used in) Financing Activities	25,510		(39,840)
Net Decrease in Cash and Restricted Cash	(44,204)		(81,521)
Cash and Restricted Cash - Beginning of Period	74,788		99,809
Cash and Restricted Cash - End of Period	$	30,584	$	18,288

The accompanying notes are an integral part of these unaudited condensed financial statements.

8

NSTAR ELECTRIC COMPANY AND SUBSIDIARY

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)

(Thousands of Dollars)	As of March 31, 2022		As of December 31, 2021
ASSETS
Current Assets:
Cash	$	721	$	745
Receivables, Net (net of allowance for uncollectible accounts of $94,775 and    $97,005 as of March 31, 2022 and December 31, 2021, respectively)	417,048		405,674
Accounts Receivable from Affiliated Companies	45,121		67,420
Unbilled Revenues	36,618		37,497
Materials, Supplies and REC Inventory	148,084		116,712
Taxes Receivable	35,318		80,617
Regulatory Assets	433,653		443,956
Prepayments and Other Current Assets	25,465		22,397
Total Current Assets	1,142,028		1,175,018
Property, Plant and Equipment, Net	11,008,899		10,876,614
Deferred Debits and Other Assets:
Regulatory Assets	1,239,773		1,135,231
Prepaid Pension and PBOP	475,602		441,426
Other Long-Term Assets	171,421		171,657
Total Deferred Debits and Other Assets	1,886,796		1,748,314
Total Assets	$	14,037,723	$	13,799,946
LIABILITIES AND CAPITALIZATION
Current Liabilities:
Notes Payable	$	275,000	$	162,500
Notes Payable to Eversource Parent	4,000		—
Long-Term Debt – Current Portion	400,000		400,000
Accounts Payable	437,896		490,915
Accounts Payable to Affiliated Companies	139,762		129,575
Obligations to Third Party Suppliers	127,342		116,273
Renewable Portfolio Standards Compliance Obligations	129,759		100,200
Regulatory Liabilities	279,299		228,248
Other Current Liabilities	157,567		84,303
Total Current Liabilities	1,950,625		1,712,014
Deferred Credits and Other Liabilities:
Accumulated Deferred Income Taxes	1,617,909		1,579,508
Regulatory Liabilities	1,570,969		1,559,072
Other Long-Term Liabilities	275,573		347,934
Total Deferred Credits and Other Liabilities	3,464,451		3,486,514
Long-Term Debt	3,586,326		3,585,399
Preferred Stock Not Subject to Mandatory Redemption	43,000		43,000
Common Stockholder's Equity:
Common Stock	—		—
Capital Surplus, Paid In	2,253,942		2,253,942
Retained Earnings	2,738,925		2,718,576
Accumulated Other Comprehensive Income	454		501
Common Stockholder's Equity	4,993,321		4,973,019
Commitments and Contingencies (Note 9)
Total Liabilities and Capitalization	$	14,037,723	$	13,799,946

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

9

NSTAR ELECTRIC COMPANY AND SUBSIDIARY

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)

	For the Three Months Ended March 31,
(Thousands of Dollars)	2022		2021
Operating Revenues	$	863,176	$	737,043
Operating Expenses:
Purchased Power and Transmission	313,748		226,478
Operations and Maintenance	164,862		143,219
Depreciation	89,033		82,793
Amortization of Regulatory Assets, Net	29,345		18,418
Energy Efficiency Programs	80,232		75,099
Taxes Other Than Income Taxes	59,774		54,652
Total Operating Expenses	736,994		600,659
Operating Income	126,182		136,384
Interest Expense	38,222		32,306
Other Income, Net	29,231		16,812
Income Before Income Tax Expense	117,191		120,890
Income Tax Expense	24,452		26,966
Net Income	$	92,739	$	93,924

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(Unaudited)

	For the Three Months Ended March 31,
(Thousands of Dollars)	2022		2021
Net Income	$	92,739	$	93,924
Other Comprehensive (Loss)/Income, Net of Tax:
Changes in Funded Status of SERP Benefit Plan	(44)		(41)
Qualified Cash Flow Hedging Instruments	5		109
Changes in Unrealized Losses on Marketable Securities	(8)		(7)
Other Comprehensive (Loss)/Income, Net of Tax	(47)		61
Comprehensive Income	$	92,692	$	93,985

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

10

NSTAR ELECTRIC COMPANY AND SUBSIDIARY

CONDENSED CONSOLIDATED STATEMENTS OF COMMON STOCKHOLDER'S EQUITY

(Unaudited)

	For the Three Months Ended March 31, 2022
	Common Stock			Capital Surplus, Paid In		Retained Earnings		Accumulated Other Comprehensive Income		Total Common Stockholder's Equity
(Thousands of Dollars, Except Stock Information)	Stock	Amount
Balance as of January 1, 2022	200	$	—	$	2,253,942	$	2,718,576	$	501	$	4,973,019
Net Income						92,739				92,739
Dividends on Preferred Stock						(490)				(490)
Dividends on Common Stock						(71,900)				(71,900)
Other Comprehensive Loss								(47)		(47)
Balance as of March 31, 2022	200	$	—	$	2,253,942	$	2,738,925	$	454	$	4,993,321

	For the Three Months Ended March 31, 2021
	Common Stock			Capital Surplus, Paid In		Retained Earnings		Accumulated Other Comprehensive Income		Total Common Stockholder's Equity
(Thousands of Dollars, Except Stock Information)	Stock	Amount
Balance as of January 1, 2021	200	$	—	$	1,993,942	$	2,527,167	$	309	$	4,521,418
Net Income						93,924				93,924
Dividends on Preferred Stock						(490)				(490)
Dividends on Common Stock						(206,400)				(206,400)
Other Comprehensive Income								61		61
Balance as of March 31, 2021	200	$	—	$	1,993,942	$	2,414,201	$	370	$	4,408,513

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

11

NSTAR ELECTRIC COMPANY AND SUBSIDIARY

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

	For the Three Months Ended March 31,
(Thousands of Dollars)	2022		2021
Operating Activities:
Net Income	$	92,739	$	93,924
Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities:
Depreciation	89,033		82,793
Deferred Income Taxes	26,857		10,309
Uncollectible Expense	4,662		3,868
Pension, SERP and PBOP Income, Net	(13,742)		(6,335)
Pension Contributions	(5,000)		—
Regulatory Underrecoveries, Net	(10,813)		(3,405)
Amortization of Regulatory Assets, Net	29,345		18,418
Cost of Removal Expenditures	(12,852)		(10,224)
Other	(5,531)		(13,362)
Changes in Current Assets and Liabilities:
Receivables and Unbilled Revenues, Net	2,051		(14,587)
Materials, Supplies and REC Inventory	(31,372)		(52,998)
Taxes Receivable/Accrued, Net	45,299		58,353
Accounts Payable	(55,743)		(45,604)
Other Current Assets and Liabilities, Net	34,931		51,445
Net Cash Flows Provided by Operating Activities	189,864		172,595
Investing Activities:
Investments in Property, Plant and Equipment	(234,120)		(215,483)
Other Investing Activities	96		22
Net Cash Flows Used in Investing Activities	(234,024)		(215,461)
Financing Activities:
Cash Dividends on Common Stock	(71,900)		(206,400)
Cash Dividends on Preferred Stock	(490)		(490)
Increase in Notes Payable to Eversource Parent	4,000		1,200
Increase in Notes Payable	112,500		248,500
Other Financing Activities	15		19
Net Cash Flows Provided by Financing Activities	44,125		42,829
Net Decrease in Cash and Restricted Cash	(35)		(37)
Cash and Restricted Cash - Beginning of Period	18,179		17,410
Cash and Restricted Cash - End of Period	$	18,144	$	17,373

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

12

PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)

(Thousands of Dollars)	As of March 31, 2022		As of December 31, 2021
ASSETS
Current Assets:
Cash	$	3,827	$	15
Receivables, Net (net of allowance for uncollectible accounts of $26,164 and $24,331    as of March 31, 2022 and December 31, 2021, respectively)	148,542		124,232
Accounts Receivable from Affiliated Companies	17,271		17,156
Unbilled Revenues	51,490		53,937
Materials, Supplies and REC Inventory	31,963		25,930
Regulatory Assets	124,701		107,169
Special Deposits	16,557		31,390
Prepayments and Other Current Assets	8,387		22,109
Total Current Assets	402,738		381,938
Property, Plant and Equipment, Net	3,722,618		3,656,462
Deferred Debits and Other Assets:
Regulatory Assets	654,507		679,182
Other Long-Term Assets	22,513		23,202
Total Deferred Debits and Other Assets	677,020		702,384
Total Assets	$	4,802,376	$	4,740,784
LIABILITIES AND CAPITALIZATION
Current Liabilities:
Notes Payable to Eversource Parent	$	196,400	$	110,600
Rate Reduction Bonds – Current Portion	43,210		43,210
Accounts Payable	157,876		166,452
Accounts Payable to Affiliated Companies	41,508		43,485
Regulatory Liabilities	106,393		120,176
Other Current Liabilities	64,356		63,005
Total Current Liabilities	609,743		546,928
Deferred Credits and Other Liabilities:
Accumulated Deferred Income Taxes	545,593		537,978
Regulatory Liabilities	388,838		381,366
Other Long-Term Liabilities	49,844		64,264
Total Deferred Credits and Other Liabilities	984,275		983,608
Long-Term Debt	1,164,010		1,163,833
Rate Reduction Bonds	432,097		453,702
Common Stockholder's Equity:
Common Stock	—		—
Capital Surplus, Paid In	1,088,134		1,088,134
Retained Earnings	524,142		504,556
Accumulated Other Comprehensive (Loss)/Income	(25)		23
Common Stockholder's Equity	1,612,251		1,592,713
Commitments and Contingencies (Note 9)
Total Liabilities and Capitalization	$	4,802,376	$	4,740,784

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

13

PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)

	For the Three Months Ended March 31,
(Thousands of Dollars)	2022		2021
Operating Revenues	$	339,427	$	293,435
Operating Expenses:
Purchased Power and Transmission	125,844		91,609
Operations and Maintenance	59,573		54,664
Depreciation	31,253		29,468
Amortization of Regulatory Assets, Net	26,834		18,547
Energy Efficiency Programs	8,718		10,348
Taxes Other Than Income Taxes	22,785		22,149
Total Operating Expenses	275,007		226,785
Operating Income	64,420		66,650
Interest Expense	13,645		14,630
Other Income, Net	7,509		4,166
Income Before Income Tax Expense	58,284		56,186
Income Tax Expense	12,698		11,510
Net Income	$	45,586	$	44,676

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(Unaudited)

	For the Three Months Ended March 31,
(Thousands of Dollars)	2022		2021
Net Income	$	45,586	$	44,676
Other Comprehensive (Loss)/Income, Net of Tax:
Qualified Cash Flow Hedging Instruments	—		298
Changes in Unrealized Losses on Marketable Securities	(48)		(43)
Other Comprehensive (Loss)/Income, Net of Tax	(48)		255
Comprehensive Income	$	45,538	$	44,931

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

14

PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF COMMON STOCKHOLDER'S EQUITY

(Unaudited)

	For the Three Months Ended March 31, 2022
	Common Stock			Capital Surplus, Paid In		Retained Earnings		Accumulated Other Comprehensive Income/(Loss)		Total Common Stockholder's Equity
(Thousands of Dollars, Except Stock Information)	Stock	Amount
Balance as of January 1, 2022	301	$	—	$	1,088,134	$	504,556	$	23	$	1,592,713
Net Income						45,586				45,586
Dividends on Common Stock						(26,000)				(26,000)
Other Comprehensive Loss								(48)		(48)
Balance as of March 31, 2022	301	$	—	$	1,088,134	$	524,142	$	(25)	$	1,612,251

	For the Three Months Ended March 31, 2021
	Common Stock			Capital Surplus, Paid In		Retained Earnings		Accumulated Other Comprehensive Loss		Total Common Stockholder's Equity
(Thousands of Dollars, Except Stock Information)	Stock	Amount
Balance as of January 1, 2021	301	$	—	$	928,134	$	615,018	$	(613)	$	1,542,539
Net Income						44,676				44,676
Dividends on Common Stock						(25,200)				(25,200)
Other Comprehensive Income								255		255
Balance as of March 31, 2021	301	$	—	$	928,134	$	634,494	$	(358)	$	1,562,270

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

15

PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

	For the Three Months Ended March 31,
(Thousands of Dollars)	2022		2021
Operating Activities:
Net Income	$	45,586	$	44,676
Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities:
Depreciation	31,253		29,468
Deferred Income Taxes	7,480		(378)
Uncollectible Expense	2,496		1,221
Regulatory Underrecoveries, Net	(32,186)		(14,645)
Amortization of Regulatory Assets, Net	26,834		18,547
Pension, SERP and PBOP Income, Net	(3,997)		(935)
Cost of Removal Expenditures	(7,131)		(5,154)
Other	(4,631)		(565)
Changes in Current Assets and Liabilities:
Receivables and Unbilled Revenues, Net	(25,972)		3,223
Materials, Supplies and REC Inventory	(6,033)		(2,296)
Taxes Receivable/Accrued, Net	8,067		9,867
Accounts Payable	9,389		(21,025)
Other Current Assets and Liabilities, Net	6,928		12,897
Net Cash Flows Provided by Operating Activities	58,083		74,901
Investing Activities:
Investments in Property, Plant and Equipment	(107,916)		(68,278)
Other Investing Activities	593		137
Net Cash Flows Used in Investing Activities	(107,323)		(68,141)
Financing Activities:
Cash Dividends on Common Stock	(26,000)		(25,200)
Retirement of Long-Term Debt	—		(122,000)
Repayment of Rate Reduction Bonds	(21,605)		(21,605)
Increase in Notes Payable to Eversource Parent	85,800		150,500
Other Financing Activities	(23)		(22)
Net Cash Flows Provided by/(Used in) Financing Activities	38,172		(18,327)
Net Decrease in Cash and Restricted Cash	(11,068)		(11,567)
Cash and Restricted Cash - Beginning of Period	35,126		39,555
Cash and Restricted Cash - End of Period	$	24,058	$	27,988

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

16

EVERSOURCE ENERGY AND SUBSIDIARIES

THE CONNECTICUT LIGHT AND POWER COMPANY

NSTAR ELECTRIC COMPANY AND SUBSIDIARY

PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE AND SUBSIDIARIES

COMBINED NOTES TO CONDENSED FINANCIAL STATEMENTS (Unaudited)

Refer to the Glossary of Terms included in this combined Quarterly Report on Form 10-Q for abbreviations and acronyms used throughout the combined notes to the unaudited condensed financial statements.

1.    SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

A.    Basis of Presentation

Eversource Energy is a public utility holding company primarily engaged, through its wholly-owned regulated utility subsidiaries, in the energy delivery business.  Eversource Energy's wholly-owned regulated utility subsidiaries consist of CL&P, NSTAR Electric and PSNH (electric utilities), Yankee Gas, NSTAR Gas and Eversource Gas Company of Massachusetts (EGMA) (natural gas utilities) and Aquarion (water utilities). Eversource provides energy delivery and/or water service to approximately 4.4 million electric, natural gas and water customers through ten regulated utilities in Connecticut, Massachusetts and New Hampshire.

The unaudited condensed consolidated financial statements of Eversource, NSTAR Electric and PSNH include the accounts of each of their respective subsidiaries.  Intercompany transactions have been eliminated in consolidation.  The accompanying unaudited condensed consolidated financial statements of Eversource, NSTAR Electric and PSNH and the unaudited condensed financial statements of CL&P are herein collectively referred to as the "financial statements."

The combined notes to the financial statements have been prepared pursuant to the rules and regulations of the SEC.  Certain information and footnote disclosures included in annual financial statements prepared in accordance with GAAP have been omitted pursuant to such rules and regulations.  The accompanying financial statements should be read in conjunction with the Combined Notes to Financial Statements included in Item 8, "Financial Statements and Supplementary Data," of the Eversource 2021 Form 10-K, which was filed with the SEC on February 17, 2022. The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.  Actual results could differ from those estimates.

The financial statements contain, in the opinion of management, all adjustments (including normal, recurring adjustments) necessary to present fairly Eversource's, CL&P's, NSTAR Electric's and PSNH's financial position as of March 31, 2022 and December 31, 2021, and the results of operations, comprehensive income, common shareholders' equity and cash flows for the three months ended March 31, 2022 and 2021. The results of operations, comprehensive income and cash flows for the three months ended March 31, 2022 and 2021 are not necessarily indicative of the results expected for a full year.  

CYAPC and YAEC are inactive regional nuclear power companies engaged in the long-term storage of their spent nuclear fuel. Eversource consolidates the operations of CYAPC and YAEC because CL&P's, NSTAR Electric's and PSNH's combined ownership and voting interests in each of these entities is greater than 50 percent.  Intercompany transactions between CL&P, NSTAR Electric, PSNH and the CYAPC and YAEC companies have been eliminated in consolidation of the Eversource financial statements.

Eversource holds several equity ownership interests that are not consolidated and are accounted for under the equity method.

Eversource's utility subsidiaries' electric, natural gas and water distribution and transmission businesses are subject to rate-regulation that is based on cost recovery and meets the criteria for application of accounting guidance for entities with rate-regulated operations, which considers the effect of regulation on the differences in the timing of the recognition of certain revenues and expenses from those of other businesses and industries. See Note 2, "Regulatory Accounting," for further information.

Certain reclassifications of prior period data were made in the accompanying financial statements to conform to the current period presentation.

On May 4, 2022, Eversource announced that it had initiated a strategic review of its offshore wind investment portfolio. As part of that review, Eversource will explore strategic alternatives that could result in a potential sale of all, or part, of its 50 percent interest in its offshore wind partnership with Ørsted. Eversource expects to complete this review during 2022. Eversource’s offshore wind business includes a 50 percent ownership interest in North East Offshore, which holds PPAs and contracts for the Revolution Wind, South Fork Wind and Sunrise Wind projects, as well as undeveloped offshore lease area. As of March 31, 2022 and December 31, 2021, Eversource's total equity investment balance in its offshore wind business was $1.33 billion and $1.21 billion, respectively. Eversource’s initiation of the strategic review of its offshore wind investment does not impact the March 31, 2022 financial statements, and at this time, Eversource cannot predict the ultimate outcome or estimate the potential impact of such review.

17

B.    Allowance for Uncollectible Accounts

Receivables, Net on the balance sheets primarily includes trade receivables from retail customers and customers related to wholesale transmission contracts, wholesale market sales, sales of RECs, and property rentals. Receivables, Net also includes customer receivables for the purchase of electricity from a competitive third party supplier, the current portion of customer energy efficiency loans, property damage receivables and other miscellaneous receivables. There is no material concentration of receivables. Receivables are recorded at amortized cost, net of a credit loss provision (or allowance for uncollectible accounts).

Receivables are presented net of expected credit losses at estimated net realizable value by maintaining an allowance for uncollectible accounts. The current expected credit loss (CECL) model is applied to receivables for purposes of calculating the allowance for uncollectible accounts. This model is based on expected losses and results in the recognition of estimated expected credit losses, including uncollectible amounts for both billed and unbilled revenues, over the life of the receivable at the time a receivable is recorded.

The allowance for uncollectible accounts is determined based upon a variety of judgments and factors, including an aging-based quantitative assessment that applies an estimated uncollectible percentage to each receivable aging category.  Factors in determining credit loss include historical collection, write-off experience, analysis of delinquency statistics, and management's assessment of collectability from customers, including current conditions, customer payment trends, the impact on customer bills because of energy usage trends and changes in rates, flexible payment plans and financial hardship arrearage management programs being offered to customers, reasonable forecasts, and expectations of future collectability and collection efforts. Management continuously assesses the collectability of receivables and adjusts estimates based on actual experience and future expectations based on economic conditions, collection efforts and other factors.  Management also monitors the aging analysis of receivables to determine if there are changes in the collections of accounts receivable. Receivable balances are written off against the allowance for uncollectible accounts when the customer accounts are no longer in service and these balances are deemed to be uncollectible. Management concluded that the reserve balance as of March 31, 2022 adequately reflected the collection risk and net realizable value for its receivables.

As of March 31, 2022 and December 31, 2021, the total amount incurred as a result of COVID-19 included in the allowance for uncollectible accounts was $58.5 million and $55.3 million at Eversource, $20.4 million and $23.9 million at CL&P, and $9.0 million and $9.0 million at NSTAR Electric, respectively. At our Connecticut and Massachusetts utilities, the COVID-19 related uncollectible amounts were deferred either as incremental regulatory costs or deferred through existing regulatory tracking mechanisms that recover uncollectible energy supply costs, as management believes it is probable that these costs will ultimately be recovered from customers in future rates. No COVID-19 related uncollectible amounts were deferred at PSNH as a result of a July 2021 NHPUC order. Based on the status of our COVID-19 regulatory dockets, and policies and practices in the jurisdictions in which we operate, we believe our state regulatory commissions in Connecticut and Massachusetts will allow us to recover our incremental uncollectible customer receivable costs associated with COVID-19.

The PURA allows CL&P and Yankee Gas to accelerate the recovery of accounts receivable balances attributable to qualified customers under financial or medical duress (uncollectible hardship accounts receivable) outstanding for greater than 180 days and 90 days, respectively.  The DPU allows NSTAR Electric, NSTAR Gas and EGMA to recover in rates amounts associated with certain uncollectible hardship accounts receivable. These uncollectible hardship customer account balances are included in Regulatory Assets or Other Long-Term Assets on the balance sheets. Hardship customers are protected from shut-off in certain circumstances, and historical collection experience has reflected a higher default risk as compared to the rest of the receivable population. Management uses a higher credit risk profile for this pool of trade receivables as compared to non-hardship receivables. The allowance for uncollectible hardship accounts is included in the total uncollectible allowance balance.

The total allowance for uncollectible accounts is included in Receivables, Net on the balance sheets. The activity in the allowance for uncollectible accounts by portfolio segment as of March 31st is as follows:

	Eversource						CL&P						NSTAR Electric						PSNH
(Millions of Dollars)	Hardship Accounts		Retail (Non-Hardship), Wholesale, and Other		Total Allowance		Hardship Accounts		Retail (Non-Hardship), Wholesale, and Other		Total Allowance		Hardship Accounts		Retail (Non-Hardship), Wholesale, and Other		Total Allowance		Total Allowance
Three Months Ended 2022
Beginning Balance	$	226.1	$	191.3	$	417.4	$	144.6	$	36.7	$	181.3	$	43.3	$	53.7	$	97.0	$	24.3
Uncollectible Expense	—		17.1		17.1		—		3.8		3.8		—		4.7		4.7		2.5
Uncollectible Costs Deferred (1)	0.9		14.8		15.7		(4.0)		(2.1)		(6.1)		(3.3)		5.4		2.1		1.0
Write-Offs	(2.3)		(22.0)		(24.3)		(1.1)		(0.5)		(1.6)		(0.3)		(10.6)		(10.9)		(1.8)
Recoveries Collected	0.8		5.5		6.3		0.6		2.5		3.1		—		1.9		1.9		0.2
Ending Balance	$	225.5	$	206.7	$	432.2	$	140.1	$	40.4	$	180.5	$	39.7	$	55.1	$	94.8	$	26.2

Three Months Ended 2021
Beginning Balance	$	194.8	$	164.1	$	358.9	$	129.1	$	28.3	$	157.4	$	39.7	$	51.9	$	91.6	$	17.2
Uncollectible Expense	—		16.3		16.3		—		3.8		3.8		—		3.9		3.9		1.2
Uncollectible Costs Deferred (1)	5.4		27.1		32.5		11.9		7.5		19.4		(8.5)		8.4		(0.1)		1.2
Write-Offs	(3.3)		(16.7)		(20.0)		(2.9)		(4.0)		(6.9)		(0.1)		(7.5)		(7.6)		(2.5)
Recoveries Collected	0.4		3.6		4.0		0.3		1.1		1.4		—		1.5		1.5		0.2
Ending Balance	$	197.3	$	194.4	$	391.7	$	138.4	$	36.7	$	175.1	$	31.1	$	58.2	$	89.3	$	17.3

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(1) These expected credit losses are deferred as regulatory costs on the balance sheets, as these amounts are ultimately recovered in rates. Amounts include uncollectible costs for hardship accounts and other customer receivables, including uncollectible amounts related to uncollectible energy supply costs and COVID-19.

C.    Fair Value Measurements

Fair value measurement guidance is applied to derivative contracts that are not elected or designated as "normal purchases" or "normal sales" (normal) and to the marketable securities held in trusts.  Fair value measurement guidance is also applied to valuations of the investments used to calculate the funded status of pension and PBOP plans, the nonrecurring fair value measurements of nonfinancial assets such as goodwill, long-lived assets, equity method investments, AROs, and in the valuation of acquisitions. The fair value measurement guidance was also applied in estimating the fair value of preferred stock, long-term debt and RRBs.

Fair Value Hierarchy:  In measuring fair value, Eversource uses observable market data when available in order to minimize the use of unobservable inputs.  Inputs used in fair value measurements are categorized into three fair value hierarchy levels for disclosure purposes.  The entire fair value measurement is categorized based on the lowest level of input that is significant to the fair value measurement.  Eversource evaluates the classification of assets and liabilities measured at fair value on a quarterly basis. The levels of the fair value hierarchy are described below:

Level 1 - Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities as of the reporting date.  Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis.  

Level 2 - Inputs are quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-derived valuations in which all significant inputs are observable.

Level 3 - Quoted market prices are not available.  Fair value is derived from valuation techniques in which one or more significant inputs or assumptions are unobservable.  Where possible, valuation techniques incorporate observable market inputs that can be validated to external sources such as industry exchanges, including prices of energy and energy-related products.  

Uncategorized - Investments that are measured at net asset value are not categorized within the fair value hierarchy.

Determination of Fair Value:  The valuation techniques and inputs used in Eversource's fair value measurements are described in Note 4, "Derivative Instruments," Note 5, "Marketable Securities," and Note 10, "Fair Value of Financial Instruments," to the financial statements.

D.    Other Income, Net

The components of Other Income, Net on the statements of income were as follows:

	For the Three Months Ended
	March 31, 2022								March 31, 2021
(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric		PSNH
Pension, SERP and PBOP Non-Service    Income Components	$	54.3	$	15.9	$	21.0	$	6.6	$	20.1	$	2.7	$	10.1	$	2.7
AFUDC Equity	9.9		2.8		4.9		0.4		9.2		1.7		6.2		0.6
Equity in Earnings of Unconsolidated Affiliates	0.4		—		—		—		3.7		—		0.1		—
Investment (Loss)/Income	(0.2)		(0.4)		(0.3)		0.2		(0.6)		0.4		0.2		0.1
Interest Income	6.7		1.3		3.5		0.3		1.5		0.1		0.1		0.7
Other	0.5		—		0.1		—		0.3		—		0.1		0.1
Total Other Income, Net	$	71.6	$	19.6	$	29.2	$	7.5	$	34.2	$	4.9	$	16.8	$	4.2

E.    Other Taxes

Eversource's companies that serve customers in Connecticut collect gross receipts taxes levied by the state of Connecticut from their customers. These gross receipts taxes are recorded separately with collections in Operating Revenues and with payments in Taxes Other Than Income Taxes on the statements of income as follows:

	For the Three Months Ended
(Millions of Dollars)	March 31, 2022		March 31, 2021
Eversource	$	48.6	$	48.6
CL&P	37.8		39.2

As agents for state and local governments, Eversource's companies that serve customers in Connecticut and Massachusetts collect certain sales taxes that are recorded on a net basis with no impact on the statements of income. 

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F.    Supplemental Cash Flow Information

Non-cash investing activities include plant additions included in Accounts Payable as follows:

(Millions of Dollars)	As of March 31, 2022		As of March 31, 2021
Eversource	$	385.6	$	262.9
CL&P	102.1		70.9
NSTAR Electric	85.8		68.2
PSNH	49.5		23.5

The following table reconciles cash as reported on the balance sheets to the cash and restricted cash balance as reported on the statements of cash flows:

	As of March 31, 2022								As of December 31, 2021
(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric		PSNH
Cash as reported on the Balance Sheets	$	46.2	$	21.6	$	0.7	$	3.8	$	66.8	$	55.8	$	0.7	$	—
Restricted cash included in:
Special Deposits	73.3		8.7		17.3		16.6		78.2		18.7		17.4		31.4
Marketable Securities	26.0		0.3		0.1		0.5		31.3		0.3		0.1		0.5
Other Long-Term Assets	19.1		—		—		3.2		44.7		—		—		3.2
Cash and Restricted Cash as reported on the     Statements of Cash Flows	$	164.6	$	30.6	$	18.1	$	24.1	$	221.0	$	74.8	$	18.2	$	35.1

Special Deposits represent cash collections related to the PSNH RRB customer charges that are held in trust, required ISO-NE cash deposits, and CYAPC and YAEC cash balances. The December 31, 2021 balance also included a $10 million customer assistance fund to provide bill payment assistance to certain existing non-hardship and hardship customers carrying arrearages at CL&P established under the terms of the PURA-approved October 2021 settlement agreement. Those customers were provided with $10 million of bill forgiveness in the first quarter of 2022, which represented a non-cash transaction. Special Deposits are included in Current Assets on the balance sheets. Restricted cash included in Marketable Securities represents money market funds held in trusts to fund certain non-qualified executive benefits and restricted trusts to fund CYAPC and YAEC's spent nuclear fuel storage obligations.

Restricted cash also includes an Energy Relief Fund for energy efficiency and clean energy measures in the Merrimack Valley and an additional energy efficiency program established under the terms of the EGMA 2020 settlement agreement. As of March 31, 2022, $20.0 million of this restricted cash was recorded as short-term in Special Deposits and $15.9 million was recorded in Other Long-Term Assets. As of December 31, 2021, this restricted cash totaled $41.5 million and was recorded in Other Long-Term Assets on the balance sheet.

2.    REGULATORY ACCOUNTING

Eversource's utility companies are subject to rate regulation that is based on cost recovery and meets the criteria for application of accounting guidance for rate-regulated operations, which considers the effect of regulation on the timing of the recognition of certain revenues and expenses. The regulated companies' financial statements reflect the effects of the rate-making process.  The rates charged to the customers of Eversource's regulated companies are designed to collect each company's costs to provide service, plus a return on investment.

The application of accounting guidance for rate-regulated enterprises results in recording regulatory assets and liabilities. Regulatory assets represent the deferral of incurred costs that are probable of future recovery in customer rates. Regulatory assets are amortized as the incurred costs are recovered through customer rates. Regulatory liabilities represent either revenues received from customers to fund expected costs that have not yet been incurred or probable future refunds to customers.

Management believes it is probable that each of the regulated companies will recover its respective investments in long-lived assets and the regulatory assets that have been recorded.  If management were to determine that it could no longer apply the accounting guidance applicable to rate-regulated enterprises, or if management could not conclude it is probable that costs would be recovered from customers in future rates, the applicable costs would be charged to net income in the period in which the determination is made.

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Regulatory Assets:  The components of regulatory assets were as follows:

	As of March 31, 2022								As of December 31, 2021
(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric		PSNH
Benefit Costs	$	1,452.5	$	268.0	$	386.9	$	116.5	$	1,481.0	$	272.4	$	395.5	$	118.9
Storm Costs, Net	1,249.3		735.7		449.4		64.2		1,102.7		695.6		341.3		65.8
Regulatory Tracking Mechanisms	937.7		295.2		375.0		97.0		1,050.5		333.6		376.6		85.4
Income Taxes, Net	791.2		471.8		112.8		14.5		790.7		470.5		112.6		17.5
Securitized Stranded Costs	468.1		—		—		468.1		478.9		—		—		478.9
Goodwill-related	293.6		—		252.1		—		297.8		—		255.7		—
Derivative Liabilities	229.4		229.4		—		—		249.2		249.2		—		—
Asset Retirement Obligations	117.5		34.2		61.9		4.2		115.0		33.6		59.8		4.1
Other Regulatory Assets	162.1		28.9		35.4		14.7		150.0		29.9		37.7		15.8
Total Regulatory Assets	5,701.4		2,063.2		1,673.5		779.2		5,715.8		2,084.8		1,579.2		786.4
Less:  Current Portion	1,128.1		382.1		433.7		124.7		1,129.1		371.6		444.0		107.2
Total Long-Term Regulatory Assets	$	4,573.3	$	1,681.1	$	1,239.8	$	654.5	$	4,586.7	$	1,713.2	$	1,135.2	$	679.2

Regulatory Costs in Long-Term Assets:  Eversource's regulated companies had $262.5 million (including $113.4 million for CL&P, $84.2 million for NSTAR Electric and $3.4 million for PSNH) and $252.5 million (including $114.9 million for CL&P, $85.0 million for NSTAR Electric and $3.4 million for PSNH) of additional regulatory costs as of March 31, 2022 and December 31, 2021, respectively, that were included in long-term assets on the balance sheets.  These amounts represent incurred costs for which recovery has not yet been specifically approved by the applicable regulatory agency.  However, based on regulatory policies or past precedent on similar costs, management believes it is probable that these costs will ultimately be approved and recovered from customers in rates.

As of March 31, 2022 and December 31, 2021, these regulatory costs included incremental COVID-19 related non-tracked uncollectible expense deferred of $35.0 million and $33.0 million at Eversource, $15.3 million and $18.0 million at CL&P, and $6.1 million and $6.1 million at NSTAR Electric, respectively.

Regulatory Liabilities:  The components of regulatory liabilities were as follows:

	As of March 31, 2022								As of December 31, 2021
(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric		PSNH
EDIT due to Tax Cuts and Jobs Act of 2017	$	2,665.7	$	992.7	$	973.3	$	356.1	$	2,685.2	$	996.1	$	984.5	$	359.2
Cost of Removal	667.2		108.6		388.2		19.1		649.6		100.1		381.0		17.2
Regulatory Tracking Mechanisms	571.8		226.7		237.2		94.9		448.4		182.0		185.1		107.0
Benefit Costs	128.3		—		103.1		—		133.5		—		107.4		—
AFUDC - Transmission	85.1		44.0		41.1		—		81.0		43.2		37.8		—
CL&P Settlement Agreement and Storm   Performance Penalty	12.9		12.9		—		—		81.3		81.3		—		—
Other Regulatory Liabilities	416.2		75.0		107.4		25.1		389.7		57.1		91.5		18.2
Total Regulatory Liabilities	4,547.2		1,459.9		1,850.3		495.2		4,468.7		1,459.8		1,787.3		501.6
Less:  Current Portion	652.4		251.6		279.3		106.4		602.4		266.5		228.2		120.2
Total Long-Term Regulatory Liabilities	$	3,894.8	$	1,208.3	$	1,571.0	$	388.8	$	3,866.3	$	1,193.3	$	1,559.1	$	381.4

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3.    PROPERTY, PLANT AND EQUIPMENT AND ACCUMULATED DEPRECIATION

The following tables summarize property, plant and equipment by asset category:

Eversource	As of March 31, 2022		As of December 31, 2021
(Millions of Dollars)
Distribution - Electric	$	17,809.0	$	17,679.1
Distribution - Natural Gas	6,713.7		6,694.8
Transmission - Electric	13,011.0		12,882.4
Distribution - Water	1,924.9		1,900.9
Solar	200.9		200.9
Utility	39,659.5		39,358.1
Other (1)	1,509.6		1,469.5
Property, Plant and Equipment, Gross	41,169.1		40,827.6
Less:  Accumulated Depreciation
Utility	(8,976.2)		(8,885.2)
Other	(609.8)		(580.1)
Total Accumulated Depreciation	(9,586.0)		(9,465.3)
Property, Plant and Equipment, Net	31,583.1		31,362.3
Construction Work in Progress	2,269.5		2,015.4
Total Property, Plant and Equipment, Net	$	33,852.6	$	33,377.7

	As of March 31, 2022						As of December 31, 2021
(Millions of Dollars)	CL&P		NSTAR Electric		PSNH		CL&P		NSTAR Electric		PSNH
Distribution - Electric	$	7,188.9	$	8,151.1	$	2,509.3	$	7,117.6	$	8,105.5	$	2,496.2
Transmission - Electric	5,912.5		5,137.1		1,963.1		5,859.0		5,090.5		1,934.6
Solar	—		200.9		—		—		200.9		—
Property, Plant and Equipment, Gross	13,101.4		13,489.1		4,472.4		12,976.6		13,396.9		4,430.8
Less:  Accumulated Depreciation	(2,592.6)		(3,271.8)		(912.8)		(2,572.1)		(3,227.3)		(908.4)
Property, Plant and Equipment, Net	10,508.8		10,217.3		3,559.6		10,404.5		10,169.6		3,522.4
Construction Work in Progress	432.2		791.6		163.0		399.0		707.0		134.1
Total Property, Plant and Equipment, Net	$	10,941.0	$	11,008.9	$	3,722.6	$	10,803.5	$	10,876.6	$	3,656.5

(1)    These assets are primarily comprised of computer software, hardware and equipment at Eversource Service and buildings at The Rocky River Realty Company.

4.    DERIVATIVE INSTRUMENTS

The electric and natural gas companies purchase and procure energy and energy-related products, which are subject to price volatility, for their customers.  The costs associated with supplying energy to customers are recoverable from customers in future rates.  These regulated companies manage the risks associated with the price volatility of energy and energy-related products through the use of derivative and non-derivative contracts.  

Many of the derivative contracts meet the definition of, and are designated as, normal and qualify for accrual accounting under the applicable accounting guidance.  The costs and benefits of derivative contracts that meet the definition of normal are recognized in Operating Expenses on the statements of income as electricity or natural gas is delivered.

Derivative contracts that are not designated as normal are recorded at fair value as current or long-term Derivative Assets or Derivative Liabilities on the balance sheets.  For the electric and natural gas companies, regulatory assets or regulatory liabilities are recorded to offset the fair values of derivatives, as contract settlement amounts are recovered from, or refunded to, customers in their respective energy supply rates.  

The gross fair values of derivative assets and liabilities with the same counterparty are offset and reported as net Derivative Assets or Derivative Liabilities, with current and long-term portions, on the balance sheets.  The following table presents the gross fair values of contracts, categorized by risk type, and the net amounts recorded as current or long-term derivative assets or liabilities:

		As of March 31, 2022						As of December 31, 2021
CL&P (Millions of Dollars)	Fair Value Hierarchy	Commodity Supply and Price Risk Management		Netting (1)		Net Amount Recorded as a Derivative		Commodity Supply and Price Risk Management		Netting (1)		Net Amount Recorded as a Derivative
Current Derivative Assets	Level 3	$	14.8	$	(0.4)	$	14.4	$	14.7	$	(1.0)	$	13.7
Long-Term Derivative Assets	Level 3	41.4		(1.3)		40.1		46.9		(0.9)		46.0
Current Derivative Liabilities	Level 3	(74.4)		—		(74.4)		(73.5)		—		(73.5)
Long-Term Derivative Liabilities	Level 3	(209.5)		—		(209.5)		(235.4)		—		(235.4)

    

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(1)    Amounts represent derivative assets and liabilities that Eversource elected to record net on the balance sheets.  These amounts are subject to master netting agreements or similar agreements for which the right of offset exists.

Derivative Contracts at Fair Value with Offsetting Regulatory Amounts

Commodity Supply and Price Risk Management:  As required by regulation, CL&P, along with UI, has capacity-related contracts with generation facilities.  CL&P has a sharing agreement with UI, with 80 percent of the costs or benefits of each contract borne by or allocated to CL&P and 20 percent borne by or allocated to UI.  The combined capacities of these contracts as of both March 31, 2022 and December 31, 2021 were 675 MW. The capacity contracts extend through 2026 and obligate both CL&P and UI to make or receive payments on a monthly basis to or from the generation facilities based on the difference between a set capacity price and the capacity market price received in the ISO-NE capacity markets. 

For the three months ended March 31, 2022 and 2021, there were gains of $6.2 million and losses of $11.1 million, respectively, deferred as regulatory costs, which reflect the change in fair value associated with Eversource's derivative contracts.

Fair Value Measurements of Derivative Instruments

The fair value of derivative contracts classified as Level 3 utilizes both significant observable and unobservable inputs.  The fair value is modeled using income techniques, such as discounted cash flow valuations adjusted for assumptions related to exit price.  Valuations of derivative contracts using a discounted cash flow methodology include assumptions regarding the timing and likelihood of scheduled payments and also reflect non-performance risk, including credit, using the default probability approach based on the counterparty's credit rating for assets and the Company's credit rating for liabilities.  Significant observable inputs for valuations of these contracts include energy-related product prices in future years for which quoted prices in an active market exist. Valuations incorporate estimates of premiums or discounts that would be required by a market participant to arrive at an exit price, using historical market transactions adjusted for the terms of the contract.  Fair value measurements categorized in Level 3 of the fair value hierarchy are prepared by individuals with expertise in valuation techniques, pricing of energy-related products, and accounting requirements.

The following is a summary of the significant unobservable inputs utilized in the valuations of the derivative contracts classified as Level 3:

	As of March 31, 2022								As of December 31, 2021
CL&P	Range				Average			Period Covered	Range				Average			Period Covered
Forward Reserve Prices	$	0.50	—	$1.15	$	0.82	per kW-Month	2022 - 2024	$	0.50	—	$1.15	$	0.82	per kW-Month	2022 - 2024

Exit price premiums of 4.5 percent through 8.8 percent, or a weighted average of 7.7 percent, are also Level 3 significant unobservable inputs applied to these contracts and reflect the uncertainty and illiquidity premiums that would be required based on the most recent market activity available for similar type contracts. The risk premium was weighted by the relative fair value of the net derivative instruments.

As of December 31, 2021, Level 3 unobservable inputs also utilized in the valuation of CL&P’s capacity-related contracts included capacity prices of $2.61 per kW-Month over the period 2025 through 2026. As of March 31, 2022, these capacity price inputs are now observable.

Significant increases or decreases in future capacity or forward reserve prices in isolation would decrease or increase, respectively, the fair value of the derivative liability.  Any increases in risk premiums would increase the fair value of the derivative liability.  Changes in these fair values are recorded as a regulatory asset or liability and do not impact net income.  

The following table presents changes in the Level 3 category of derivative assets and derivative liabilities measured at fair value on a recurring basis.  The derivative assets and liabilities are presented on a net basis.

CL&P	For the Three Months Ended March 31,
(Millions of Dollars)	2022		2021
Derivatives, Net:
Fair Value as of Beginning of Period	$	(249.2)	$	(293.1)
Net Realized/Unrealized Gains/(Losses) Included in Regulatory Assets	6.2		(12.5)
Settlements	13.6		12.5
Fair Value as of End of Period	$	(229.4)	$	(293.1)

5.    MARKETABLE SECURITIES

Eversource holds marketable securities that are primarily used to fund certain non-qualified executive benefits.  The trusts that hold these marketable securities are not subject to regulatory oversight by state or federal agencies.  Eversource’s marketable securities also include CYAPC and YAEC legally restricted trusts that each hold equity and available-for-sale debt securities to fund the spent nuclear fuel removal obligations of their nuclear fuel storage facilities. Equity and available-for-sale debt marketable securities are recorded at fair value, with the current portion recorded in Prepayments and Other Current Assets and the long-term portion recorded in Marketable Securities on the balance sheets.

Equity Securities: Unrealized gains and losses on equity securities held in Eversource's non-qualified executive benefit trust are recorded in Other Income, Net on the statements of income. The fair value of these equity securities as of March 31, 2022 and December 31, 2021 was $31.5 million and $40.2 million, respectively.  For the three months ended March 31, 2022 and 2021, there were unrealized losses of $4.4 million and unrealized gains of $1.1 million recorded in Other Income, Net related to these equity securities, respectively.

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Eversource's equity securities also include CYAPC's and YAEC's marketable securities held in spent nuclear fuel trusts, which had fair values of $195.5 million and $214.0 million as of March 31, 2022 and December 31, 2021, respectively.  Unrealized gains and losses for these spent nuclear fuel trusts are subject to regulatory accounting treatment and are recorded in Marketable Securities with the corresponding offset to long-term liabilities on the balance sheets, with no impact on the statements of income.

Available-for-Sale Debt Securities: The following is a summary of the available-for-sale debt securities:

	As of March 31, 2022								As of December 31, 2021
Eversource (Millions of Dollars)	Amortized Cost		Pre-Tax Unrealized Gains		Pre-Tax Unrealized Losses		Fair Value		Amortized Cost		Pre-Tax Unrealized Gains		Pre-Tax Unrealized Losses		Fair Value
Debt Securities	$	211.4	$	0.5	$	(3.6)	$	208.3	$	214.5	$	5.1	$	(0.2)	$	219.4

Eversource's debt securities include CYAPC's and YAEC's marketable securities held in spent nuclear fuel trusts in the amounts of $183.4 million and $189.9 million as of March 31, 2022 and December 31, 2021, respectively.

Unrealized gains and losses on available-for-sale debt securities held in Eversource's non-qualified benefit trust are recorded in Accumulated Other Comprehensive Income, excluding amounts related to credit losses or losses on securities intended to be sold, which are recorded in Other Income, Net. There have been no significant unrealized losses and no credit losses for the three months ended March 31, 2022 and 2021, and no allowance for credit losses as of March 31, 2022. Factors considered in determining whether a credit loss exists include adverse conditions specifically affecting the issuer, the payment history, ratings and rating changes of the security, and the severity of the impairment.  For asset-backed debt securities, underlying collateral and expected future cash flows are also evaluated. Debt securities included in Eversource's non-qualified benefit trust portfolio are investment-grade bonds with a lower default risk based on their credit quality.

As of March 31, 2022, the contractual maturities of available-for-sale debt securities were as follows:

 

Eversource (Millions of Dollars)	Amortized Cost		Fair Value
Less than one year (1)	$	27.0	$	27.0
One to five years	61.9		61.6
Six to ten years	36.3		35.5
Greater than ten years	86.2		84.2
Total Debt Securities	$	211.4	$	208.3

(1)    Amounts in the Less than one year category include securities in the CYAPC and YAEC spent nuclear fuel trusts, which are restricted and are classified in long-term Marketable Securities on the balance sheets.

Realized Gains and Losses:  Realized gains and losses are recorded in Other Income, Net for Eversource's benefit trust and are offset in long-term liabilities for CYAPC and YAEC.  Eversource utilizes the specific identification basis method for the Eversource non-qualified benefit trust, and the average cost basis method for the CYAPC and YAEC spent nuclear fuel trusts to compute the realized gains and losses on the sale of marketable securities.

Fair Value Measurements:  The following table presents the marketable securities recorded at fair value on a recurring basis by the level in which they are classified within the fair value hierarchy:

Eversource (Millions of Dollars)	As of March 31, 2022		As of December 31, 2021
Level 1:
Mutual Funds and Equities	$	227.0	$	254.2
Money Market Funds	26.0		31.3
Total Level 1	$	253.0	$	285.5
Level 2:
U.S. Government Issued Debt Securities (Agency and Treasury)	$	80.0	$	81.3
Corporate Debt Securities	62.5		65.3
Asset-Backed Debt Securities	11.6		12.6
Municipal Bonds	11.7		12.3
Other Fixed Income Securities	16.5		16.6
Total Level 2	$	182.3	$	188.1
Total Marketable Securities	$	435.3	$	473.6

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U.S. government issued debt securities are valued using market approaches that incorporate transactions for the same or similar bonds and adjustments for yields and maturity dates.  Corporate debt securities are valued using a market approach, utilizing recent trades of the same or similar instruments and also incorporating yield curves, credit spreads and specific bond terms and conditions.  Asset-backed debt securities include collateralized mortgage obligations, commercial mortgage backed securities, and securities collateralized by auto loans, credit card loans or receivables.  Asset-backed debt securities are valued using recent trades of similar instruments, prepayment assumptions, yield curves, issuance and maturity dates, and tranche information.  Municipal bonds are valued using a market approach that incorporates reported trades and benchmark yields.  Other fixed income securities are valued using pricing models, quoted prices of securities with similar characteristics, and discounted cash flows.

6.    SHORT-TERM AND LONG-TERM DEBT

Short-Term Debt - Commercial Paper Programs and Credit Agreements: Eversource parent has a $2.00 billion commercial paper program allowing Eversource parent to issue commercial paper as a form of short-term debt. Eversource parent, CL&P, PSNH, NSTAR Gas, Yankee Gas, EGMA and Aquarion Water Company of Connecticut are parties to a five-year $2.00 billion revolving credit facility, which terminates on October 15, 2026. This revolving credit facility serves to backstop Eversource parent's $2.00 billion commercial paper program.  

NSTAR Electric has a $650 million commercial paper program allowing NSTAR Electric to issue commercial paper as a form of short-term debt. NSTAR Electric is also a party to a five-year $650 million revolving credit facility, which terminates on October 15, 2026. The revolving credit facility serves to backstop NSTAR Electric's $650 million commercial paper program.  

The amount of borrowings outstanding and available under the commercial paper programs were as follows:

	Borrowings Outstanding as of				Available Borrowing Capacity as of				Weighted-Average Interest Rate as of
	March 31, 2022		December 31, 2021		March 31, 2022		December 31, 2021		March 31, 2022		December 31, 2021
(Millions of Dollars)
Eversource Parent Commercial Paper Program	$	1,393.8	$	1,343.0	$	606.2	$	657.0	0.93	%	0.31	%
NSTAR Electric Commercial Paper Program	275.0		162.5		375.0		487.5		0.43	%	0.14	%

There were no borrowings outstanding on the revolving credit facilities as of March 31, 2022 or December 31, 2021.

CL&P and PSNH have uncommitted line of credit agreements totaling $450 million and $300 million, respectively, which will expire on May 12, 2022. There are no borrowings outstanding on either the CL&P or PSNH uncommitted line of credit agreements as of March 31, 2022.

Amounts outstanding under the commercial paper programs are included in Notes Payable and classified in current liabilities on the Eversource and NSTAR Electric balance sheets, as all borrowings are outstanding for no more than 364 days at one time.

The Company expects the future operating cash flows of Eversource, CL&P, NSTAR Electric and PSNH, along with existing borrowing availability and access to both debt and equity markets, will be sufficient to meet any working capital and future operating requirements, and capital investment forecasted opportunities.

Intercompany Borrowings: Eversource parent uses its available capital resources to provide loans to its subsidiaries to assist in meeting their short-term borrowing needs. Eversource parent records intercompany interest income from its loans to subsidiaries, which is eliminated in consolidation. Intercompany loans from Eversource parent to its subsidiaries are eliminated in consolidation on Eversource's balance sheets. As of March 31, 2022, there were intercompany loans from Eversource parent to PSNH of $196.4 million and to a subsidiary of NSTAR Electric of $4.0 million. As of December 31, 2021, there were intercompany loans from Eversource parent to PSNH of $110.6 million. Intercompany loans from Eversource parent are included in Notes Payable to Eversource Parent and classified in current liabilities on the respective subsidiary's balance sheets.

Long-Term Debt Issuances and Repayments: The following table summarizes long-term debt issuances and repayments:

(Millions of Dollars)	Issuance/(Repayment)		Issue Date or Repayment Date	Maturity Date	Use of Proceeds for Issuance/ Repayment Information
Eversource Parent 2.90% Series V Senior Notes	$	650.0	February 2022	March 2027	Repaid Series K Senior Notes at maturity and short-term debt
Eversource Parent 3.38% Series W Senior Notes	650.0		February 2022	March 2032	Repaid Series K Senior Notes at maturity and short-term debt
Eversource Parent 2.75% Series K Senior Notes	(750.0)		March 2022	March 2022	Paid at maturity
Yankee Gas 8.48% Series B First Mortgage Bonds	(20.0)		March 2022	March 2022	Paid at maturity

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7.    RATE REDUCTION BONDS AND VARIABLE INTEREST ENTITIES

Rate Reduction Bonds: In May 2018, PSNH Funding, a wholly-owned subsidiary of PSNH, issued $635.7 million of securitized RRBs in multiple tranches with a weighted average interest rate of 3.66 percent, and final maturity dates ranging from 2026 to 2035.  The RRBs are expected to be repaid by February 1, 2033. RRB payments consist of principal and interest and are paid semi-annually, beginning on February 1, 2019. The RRBs were issued pursuant to a finance order issued by the NHPUC in January 2018 to recover remaining costs resulting from the divestiture of PSNH’s generation assets.

PSNH Funding was formed solely to issue RRBs to finance PSNH's unrecovered remaining costs associated with the divestiture of its generation assets. PSNH Funding is considered a VIE primarily because the equity capitalization is insufficient to support its operations. PSNH has the power to direct the significant activities of the VIE and is most closely associated with the VIE as compared to other interest holders. Therefore, PSNH is considered the primary beneficiary and consolidates PSNH Funding in its consolidated financial statements.

The following tables summarize the impact of PSNH Funding on PSNH's balance sheets and income statements:

(Millions of Dollars)
PSNH Balance Sheets:	As of March 31, 2022		As of December 31, 2021
Restricted Cash - Current Portion (included in Current Assets)	$	16.3	$	31.1
Restricted Cash - Long-Term Portion (included in Other Long-Term Assets)	3.2		3.2
Securitized Stranded Cost (included in Regulatory Assets)	468.1		478.9
Other Regulatory Liabilities (included in Regulatory Liabilities)	6.0		5.4
Accrued Interest (included in Other Current Liabilities)	2.9		7.5
Rate Reduction Bonds - Current Portion	43.2		43.2
Rate Reduction Bonds - Long-Term Portion	432.1		453.7

(Millions of Dollars) PSNH Income Statements:	For the Three Months Ended
	March 31, 2022		March 31, 2021
Amortization of RRB Principal (included in Amortization of Regulatory Assets, Net)	$	10.8	$	10.8
Interest Expense on RRB Principal (included in Interest Expense)	4.4		4.7

8.    PENSION BENEFITS AND POSTRETIREMENT BENEFITS OTHER THAN PENSION

Eversource provides defined benefit retirement plans (Pension Plans) that cover eligible employees.  In addition to the Pension Plans, Eversource maintains non-qualified defined benefit retirement plans (SERP Plans), which provide benefits in excess of Internal Revenue Code limitations to eligible participants consisting of current and retired employees. Eversource also provides defined benefit postretirement plans (PBOP Plans) that provide life insurance and a health reimbursement arrangement created for the purpose of reimbursing retirees and dependents for health insurance premiums and certain medical expenses to eligible employees that meet certain age and service eligibility requirements.

The components of net periodic benefit plan expense/(income) for the Pension, SERP and PBOP Plans, prior to amounts capitalized as Property, Plant and Equipment or deferred as regulatory assets/(liabilities) for future recovery or refund, are shown below.  The service cost component of net periodic benefit plan expense/(income), less the capitalized portion, is included in Operations and Maintenance expense on the statements of income. The remaining components of net periodic benefit plan expense/(income), less the deferred portion, are included in Other Income, Net on the statements of income. Pension, SERP and PBOP expense/(income) reflected in the statements of cash flows for CL&P, NSTAR Electric and PSNH does not include intercompany allocations of net periodic benefit plan expense/(income), as these amounts are cash settled on a short-term basis.

	Pension and SERP								PBOP
	For the Three Months Ended March 31, 2022								For the Three Months Ended March 31, 2022
(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric		PSNH
Service Cost	$	17.7	$	4.5	$	3.6	$	1.8	$	2.8	$	0.5	$	0.5	$	0.2
Interest Cost	38.6		7.8		8.1		4.2		5.0		0.9		1.3		0.5
Expected Return on Plan Assets	(131.7)		(26.6)		(32.0)		(14.1)		(22.4)		(2.8)		(10.6)		(1.6)
Actuarial Losses, net	30.7		4.2		8.5		2.2		—		—		—		—
Prior Service Cost/(Credit)	0.4		—		0.1		—		(5.4)		0.2		(4.3)		0.1
Total Net Periodic Benefit Plan Income	$	(44.3)	$	(10.1)	$	(11.7)	$	(5.9)	$	(20.0)	$	(1.2)	$	(13.1)	$	(0.8)
Intercompany Income Allocations	N/A		$	(3.8)	$	(2.9)	$	(0.8)	N/A		$	(0.9)	$	(0.9)	$	(0.3)

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	Pension and SERP								PBOP
	For the Three Months Ended March 31, 2021								For the Three Months Ended March 31, 2021
(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric		PSNH
Service Cost	$	21.3	$	6.3	$	4.0	$	2.2	$	3.5	$	0.6	$	0.6	$	0.3
Interest Cost	32.6		7.3		6.7		3.6		4.4		0.8		1.1		0.5
Expected Return on Plan Assets	(108.9)		(21.6)		(26.9)		(11.9)		(19.7)		(2.6)		(9.3)		(1.5)
Actuarial Loss	61.6		13.0		15.5		4.9		2.6		0.4		0.6		0.3
Prior Service Cost/(Credit)	0.3		—		0.1		—		(5.3)		0.2		(4.2)		0.1
Total Net Periodic Benefit Plan Expense/(Income)	$	6.9	$	5.0	$	(0.6)	$	(1.2)	$	(14.5)	$	(0.6)	$	(11.2)	$	(0.3)
Intercompany Expense/(Income) Allocations	N/A		$	1.3	$	1.5	$	0.5	N/A		$	(0.3)	$	(0.4)	$	(0.1)

Eversource Contributions: Based on the current status of the Pension Plans and federal pension funding requirements, there is no minimum funding requirement for our Pension Plans for 2022. Eversource currently expects to make contributions between $100 million to $175 million in 2022, most of which will be contributed by Eversource Service, however the planned contribution is discretionary and subject to change. Eversource currently estimates contributing $2.4 million to the PBOP Plans in 2022.

9.    COMMITMENTS AND CONTINGENCIES

A.    Environmental Matters

Eversource, CL&P, NSTAR Electric and PSNH are subject to environmental laws and regulations intended to mitigate or remove the effect of past operations and improve or maintain the quality of the environment. These laws and regulations require the removal or the remedy of the effect on the environment of the disposal or release of certain specified hazardous substances at current and former operating sites. Eversource, CL&P, NSTAR Electric and PSNH have an active environmental auditing and training program and each believes it is substantially in compliance with all enacted laws and regulations.

The number of environmental sites and related reserves for which remediation or long-term monitoring, preliminary site work or site assessment is being performed are as follows:

	As of March 31, 2022			As of December 31, 2021
	Number of Sites	Reserve (in millions)		Number of Sites	Reserve (in millions)
Eversource	61	$	117.8	61	$	115.4
CL&P	14	14.3		14	13.9
NSTAR Electric	11	3.2		11	3.3
PSNH	9	6.4		9	6.3

Included in the number of sites and reserve amounts above are former MGP sites that were operated several decades ago and manufactured natural gas from coal and other processes, which resulted in certain by-products remaining in the environment that may pose a potential risk to human health and the environment, for which Eversource may have potential liability.  The reserve balances related to these former MGP sites were $108.3 million and $105.6 million as of March 31, 2022 and December 31, 2021, respectively, and related primarily to the natural gas business segment.

These reserve estimates are subjective in nature as they take into consideration several different remediation options at each specific site.  The reliability and precision of these estimates can be affected by several factors, including new information concerning either the level of contamination at the site, the extent of Eversource's, CL&P's, NSTAR Electric's and PSNH's responsibility for remediation or the extent of remediation required, recently enacted laws and regulations or changes in cost estimates due to certain economic factors.  It is possible that new information or future developments could require a reassessment of the potential exposure to required environmental remediation.  As this information becomes available, management will continue to assess the potential exposure and adjust the reserves accordingly.

B.    Long-Term Contractual Arrangements

The following is an update to the current status of long-term contractual arrangements set forth in Note 13B of the Eversource 2021 Form 10-K.

Renewable Energy: Renewable energy contracts include non-cancelable commitments under contracts of NSTAR Electric for the purchase of energy and RECs from renewable energy facilities.

NSTAR Electric
(Millions of Dollars)	2022		2023		2024		2025		2026		Thereafter		Total
Renewable Energy	$	75.6	$	78.3	$	269.4	$	315.8	$	322.1	$	5,812.2	$	6,873.4

The table has been updated to include long-term commitments of NSTAR Electric pertaining to the Vineyard Wind LLC contract awarded under the Massachusetts Clean Energy 83C procurement solicitation. NSTAR Electric, along with other Massachusetts distribution companies, entered into 20-year contracts for this 800 megawatt offshore wind project. Construction on the Vineyard Wind project commenced in 2022. Estimated costs under this contract are expected to begin in 2024 and range between $240 million and $375 million per year under NSTAR Electric’s 20-year contract, totaling approximately $6.0 billion.

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C.    Guarantees and Indemnifications

In the normal course of business, Eversource parent provides credit assurances on behalf of its subsidiaries, including CL&P, NSTAR Electric and PSNH, in the form of guarantees. Management does not anticipate a material impact to net income or cash flows as a result of these various guarantees and indemnifications. 

Guarantees issued on behalf of unconsolidated entities, including equity method offshore wind investments, for which Eversource parent is the guarantor, are recorded at fair value as a liability on the balance sheet at the inception of the guarantee. Eversource regularly reviews performance risk under these guarantee arrangements, and in the event it becomes probable that Eversource parent will be required to perform under the guarantee, the amount of probable payment will be recorded. The fair value of guarantees issued on behalf of unconsolidated entities are recorded within Other Long-Term Liabilities on the balance sheet, and were $7.0 million and $7.3 million as of March 31, 2022 and December 31, 2021, respectively.

The following table summarizes Eversource parent's exposure to guarantees and indemnifications of its subsidiaries and affiliates to external parties:  

As of March 31, 2022
Company (Obligor)	Description	Maximum Exposure (in millions)		Expiration Dates
North East Offshore LLC	Construction-related purchase agreements with third-party contractors (1)	$	936.3	(1)
Sunrise Wind LLC	Construction-related purchase agreements with third-party contractors (2)	330.6		2026
Revolution Wind, LLC	Construction-related purchase agreements with third-party contractors (3)	254.7		2024 - 2027
South Fork Wind, LLC	Construction-related purchase agreements with third-party contractors (4)	165.3		2023 - 2026
Eversource Investment LLC	Funding and indemnification obligations of North East Offshore LLC (5)	107.8		(5)
South Fork Wind, LLC	Power Purchase Agreement Security (6)	7.1		(6)
Sunrise Wind LLC	OREC capacity production (7)	2.2		(7)
Bay State Wind LLC	Real estate purchase	2.5		2022
South Fork Wind, LLC	Transmission interconnection	1.2		—
Eversource Investment LLC	Letters of Credit (8)	4.3		—
Various	Surety bonds (9)	35.0		2022 - 2023
Eversource Service	Lease payments for real estate	0.7		2024

(1)    Eversource parent issued guarantees on behalf of its 50 percent-owned affiliate, North East Offshore LLC (NEO), under which Eversource parent agreed to guarantee 50 percent of NEO’s performance of obligations under certain purchase agreements with third-party contactors, in an aggregate amount not to exceed $1.3 billion with an expiration date in 2025. Eversource parent also issued a separate guarantee to Ørsted on behalf of NEO, under which Eversource parent agreed to guarantee 50 percent of NEO’s payment obligations under certain offshore wind project construction-related agreements with Ørsted in an aggregate amount not to exceed $62.5 million and expiring upon full performance of the guaranteed obligation. Any amounts paid under this guarantee to Ørsted will count toward, but not increase, the maximum amount of the Funding Guarantee described in Note 5, below. The guarantee expires upon the full performance of the guaranteed obligations.

(2)     Eversource parent issued a guaranty on behalf of its 50 percent-owned affiliate, Sunrise Wind LLC, whereby Eversource parent will guarantee Sunrise Wind LLC's performance of certain obligations, in an aggregate amount not to exceed $420.6 million, in connection with a construction-related purchase agreement. Eversource parent’s obligations under the guarantee expire upon the earlier of (i) April 2026 and (ii) full performance of the guaranteed obligations.     

(3)    Eversource parent issued guarantees on behalf of its 50 percent-owned affiliate, Revolution Wind, LLC, whereby Eversource parent will guarantee Revolution Wind, LLC's performance of certain obligations, in an aggregate amount not to exceed $268.5 million, in connection with construction-related purchase agreements. Eversource parent’s obligations under the guarantees expire upon the earlier of (i) dates ranging from November 2024 and November 2027 and (ii) full performance of the guaranteed obligations.

(4)    Eversource parent issued guarantees on behalf of its 50 percent-owned affiliate, South Fork Wind, LLC, whereby Eversource parent will guarantee South Fork Wind, LLC's performance of certain obligations in connection with construction-related purchase agreements. Under these guarantees, Eversource parent will guarantee South Fork Wind, LLC's performance of certain obligations, in a total aggregate amount not to exceed $184.0 million. Eversource parent’s obligations under these guarantees expire upon the earlier of (i) dates ranging from June 2023 and August 2026 and (ii) full performance of the guaranteed obligations.

(5)    Eversource parent issued a guarantee (Funding Guarantee) on behalf of Eversource Investment LLC (EI), its wholly-owned subsidiary that holds a 50 percent ownership interest in NEO, under which Eversource parent agreed to guarantee certain funding obligations and certain indemnification payments of EI under the operating agreement of NEO, in an amount not to exceed $910 million. The guaranteed obligations include payment of EI's funding obligations during the construction phase of NEO’s underlying offshore wind projects and indemnification obligations associated with third party credit support for its investment in NEO. Eversource parent’s obligations under the Funding Guarantee expire upon the full performance of the guaranteed obligations.

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(6)    Eversource parent issued a guarantee on behalf of its 50 percent-owned affiliate, South Fork Wind, LLC, whereby Eversource parent will guarantee South Fork Wind, LLC's performance of certain obligations, in an amount not to exceed $7.1 million, under a Power Purchase Agreement between the Long Island Power Authority and South Fork Wind, LLC (the Agreement). The guarantee expires upon the later of (i) the end of the Agreement term and (ii) full performance of the guarantee obligations.

(7)    Eversource parent issued a guarantee on behalf of its 50 percent-owned affiliate, Sunrise Wind LLC, whereby Eversource parent will guarantee Sunrise Wind LLC's performance of certain obligations, in an amount not to exceed $15.4 million, under the Offshore Wind Renewable Energy Certificate Purchase and Sale Agreement (the Agreement). The Agreement was executed by and between the New York State Energy Research and Development Authority (NYSERDA) and Sunrise Wind LLC. The guarantee expires upon the full performance of the guaranteed obligations.    

(8)    On September 16, 2020, Eversource parent entered into a guarantee on behalf of EI, which holds Eversource's investments in offshore wind-related equity method investments, under which Eversource parent would guarantee EI's obligations under a letter of credit facility with a financial institution that EI may request in an aggregate amount of up to approximately $25 million. In January 2022, Eversource parent issued two letters of credit on behalf of South Fork Wind, LLC related to future decommissioning obligations of certain onshore transmission assets totaling $4.3 million.

(9)    Surety bond expiration dates reflect termination dates, the majority of which will be renewed or extended.  Certain surety bonds contain credit ratings triggers that would require Eversource parent to post collateral in the event that the unsecured debt credit ratings of Eversource parent are downgraded.

Second Quarter 2022 Guarantees: In April 2022, Eversource parent issued three additional guarantees, two on behalf of Revolution Wind, LLC and one on behalf of South Fork Wind, LLC, whereby Eversource parent will guarantee performance of construction-related purchase agreements in an aggregate amount not to exceed $160.2 million.

D.     Spent Nuclear Fuel Obligations - Yankee Companies

CL&P, NSTAR Electric and PSNH have plant closure and fuel storage cost obligations to the Yankee Companies, which have each completed the physical decommissioning of their respective nuclear power facilities and are now engaged in the long-term storage of their spent fuel. The Yankee Companies fund these costs through litigation proceeds received from the DOE and, to the extent necessary, through wholesale, FERC-approved rates charged under power purchase agreements with several New England utilities, including CL&P, NSTAR Electric and PSNH. CL&P, NSTAR Electric and PSNH, in turn recover these costs from their customers through state regulatory commission-approved retail rates. The Yankee Companies collect amounts that management believes are adequate to recover the remaining plant closure and fuel storage cost estimates for the respective plants. Management believes CL&P and NSTAR Electric will recover their shares of these obligations from their customers. PSNH has recovered its total share of these costs from its customers.

Spent Nuclear Fuel Litigation:

The Yankee Companies have filed complaints against the DOE in the Court of Federal Claims seeking monetary damages resulting from the DOE's failure to accept delivery of, and provide for a permanent facility to store, spent nuclear fuel pursuant to the terms of the 1983 spent fuel and high-level waste disposal contracts between the Yankee Companies and the DOE. The court previously awarded the Yankee Companies damages for Phases I, II, III and IV of litigation resulting from the DOE's failure to meet its contractual obligations. These Phases covered damages incurred in the years 1998 through 2016, and the awarded damages have been received by the Yankee Companies with certain amounts of the damages refunded to their customers.

DOE Phase V Damages - On March 25, 2021, each of the Yankee Companies filed a fifth set of lawsuits against the DOE in the Court of Federal Claims. The Yankee Companies filed claims seeking monetary damages totaling $120.4 million for CYAPC, YAEC and MYAPC, resulting from the DOE's failure to begin accepting spent nuclear fuel for disposal covering the years from 2017 to 2020 (DOE Phase V). The DOE Phase V trial is expected to begin in the third quarter of 2023.

E.    FERC ROE Complaints

Four separate complaints were filed at the FERC by combinations of New England state attorneys general, state regulatory commissions, consumer advocates, consumer groups, municipal parties and other parties (collectively, the Complainants). In each of the first three complaints, filed on October 1, 2011, December 27, 2012, and July 31, 2014, respectively, the Complainants challenged the NETOs' base ROE of 11.14 percent that had been utilized since 2005 and sought an order to reduce it prospectively from the date of the final FERC order and for the separate 15-month complaint periods. In the fourth complaint, filed April 29, 2016, the Complainants challenged the NETOs' base ROE billed of 10.57 percent and the maximum ROE for transmission incentive (incentive cap) of 11.74 percent, asserting that these ROEs were unjust and unreasonable.

The ROE originally billed during the period October 1, 2011 (beginning of the first complaint period) through October 15, 2014 consisted of a base ROE of 11.14 percent and incentives up to 13.1 percent. On October 16, 2014, the FERC set the base ROE at 10.57 percent and the incentive cap at 11.74 percent for the first complaint period. This was also effective for all prospective billings to customers beginning October 16, 2014. This FERC order was vacated on April 14, 2017 by the U.S. Court of Appeals for the D.C. Circuit (the Court).

All amounts associated with the first complaint period have been refunded, which totaled $38.9 million (pre-tax and excluding interest) at Eversource and reflected both the base ROE and incentive cap prescribed by the FERC order. The refund consisted of $22.4 million for CL&P, $13.7 million for NSTAR Electric and $2.8 million for PSNH.

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Eversource has recorded a reserve of $39.1 million (pre-tax and excluding interest) for the second complaint period as of both March 31, 2022 and December 31, 2021. This reserve represents the difference between the billed rates during the second complaint period and a 10.57 percent base ROE and 11.74 percent incentive cap. The reserve consisted of $21.4 million for CL&P, $14.6 million for NSTAR Electric and $3.1 million for PSNH as of both March 31, 2022 and December 31, 2021.

On October 16, 2018, FERC issued an order on all four complaints describing how it intends to address the issues that were remanded by the Court. FERC proposed a new framework to determine (1) whether an existing ROE is unjust and unreasonable and, if so, (2) how to calculate a replacement ROE. Initial briefs were filed by the NETOs, Complainants and FERC Trial Staff on January 11, 2019 and reply briefs were filed on March 8, 2019. The NETOs' brief was supportive of the overall ROE methodology determined in the October 16, 2018 order provided the FERC does not change the proposed methodology or alter its implementation in a manner that has a material impact on the results.

The FERC order included illustrative calculations for the first complaint using FERC's proposed frameworks with financial data from that complaint. Those illustrative calculations indicated that for the first complaint period, for the NETOs, which FERC concludes are of average financial risk, the preliminary just and reasonable base ROE is 10.41 percent and the preliminary incentive cap on total ROE is 13.08 percent.

If the results of the illustrative calculations were included in a final FERC order for each of the complaint periods, then a 10.41 percent base ROE and a 13.08 percent incentive cap would not have a significant impact on our financial statements for all of the complaint periods. These preliminary calculations are not binding and do not represent what we believe to be the most likely outcome of a final FERC order.

On November 21, 2019, FERC issued Opinion No. 569 affecting the two pending transmission ROE complaints against the Midcontinent ISO (MISO) transmission owners, in which FERC adopted a new methodology for determining base ROEs. Various parties sought rehearing. On December 23, 2019, the NETOs filed supplementary materials in the NETOs' four pending cases to respond to this new methodology because of the uncertainty of the applicability to the NETOs' cases.

On May 21, 2020, the FERC issued its order in Opinion No. 569-A on the rehearing of the MISO transmission owners' cases, in which FERC again changed its methodology for determining the MISO transmission owners' base ROEs. On November 19, 2020, the FERC issued Opinion No. 569-B denying rehearing of Opinion No. 569-A and reaffirmed the methodology previously adopted in Opinion No. 569-A. The new methodology differs significantly from the methodology proposed by FERC in its October 16, 2018 order to determine the NETOs' base ROEs in its four pending cases. FERC Opinion Nos. 569-A and 569-B are currently under appeal with the Court.

Given the significant uncertainty regarding the applicability of the FERC opinions in the MISO transmission owners' two complaint cases to the NETOs' pending four complaint cases, Eversource concluded that there is no reasonable basis for a change to the reserve or recognized ROEs for any of the complaint periods at this time. As well, Eversource cannot reasonably estimate a range of loss for any of the four complaint proceedings at this time.

Eversource, CL&P, NSTAR Electric and PSNH currently record revenues at the 10.57 percent base ROE and incentive cap at 11.74 percent established in the October 16, 2014 FERC order.

A change of 10 basis points to the base ROE used to establish the reserves would impact Eversource's after-tax earnings by an average of approximately $3 million for each of the four 15-month complaint periods.

F.    Eversource and NSTAR Electric Boston Harbor Civil Action

In 2016, the United States Attorney on behalf of the United States Army Corps of Engineers filed a civil action in the United States District Court for the District of Massachusetts against NSTAR Electric, HEEC, and the Massachusetts Water Resources Authority (together with NSTAR Electric and HEEC, the "Defendants").  The action alleged that the Defendants failed to comply with certain permitting requirements related to the placement of the HEEC-owned electric distribution cable beneath Boston Harbor.

The parties reached a settlement pursuant to which HEEC agreed to install a new 115kV distribution cable across Boston Harbor to Deer Island, utilizing a different route, and remove portions of the existing cable. Construction of the new distribution cable was completed in August 2019, and removal of the portions of the existing cable was completed in January 2020. All issues surrounding the current permit from the United States Army Corps of Engineers are expected to be resolved and remaining restoration efforts completed, at which time such litigation is expected to be dismissed with prejudice.

G.    CL&P Regulatory Matters

CL&P Tropical Storm Isaias Response Investigation: In August 2020, PURA opened a docket to investigate the preparation for and response to Tropical Storm Isaias by Connecticut utilities, including CL&P. On April 28, 2021, PURA issued a final decision on CL&P’s compliance with its emergency response plan that concluded CL&P failed to comply with certain storm performance standards and was imprudent in certain instances. Specifically, PURA concluded that CL&P did not satisfy the performance standards for managing its municipal liaison program, timely removing electrical hazards from blocked roads, communicating critical information to its customers, or meeting its obligation to secure adequate external contractor and mutual aid resources in a timely manner. Based on its findings, PURA ordered CL&P to adjust its future rates in a pending or future rate proceeding to reflect a monetary penalty in the form of a downward adjustment of 90 basis points in its allowed rate of return on equity (ROE), which is currently 9.25 percent. In its decision, PURA explained that additional monetary penalties and further enforcement orders pursuant to Connecticut statute would be considered in a separate proceeding that was initiated on May 6, 2021.

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On May 6, 2021, as part of the penalty proceeding, PURA issued a notice of violation that included an assessment of $30 million, consisting of a $28.4 million civil penalty for non-compliance with storm performance standards to be provided as credits on customer bills and a $1.6 million fine for violations of accident reporting requirements to be paid to the State of Connecticut’s general fund. On July 14, 2021, PURA issued a final decision in this penalty proceeding that included an assessment of $28.6 million, maintaining the $28.4 million performance penalty and reducing the $1.6 million fine for accident reporting to $0.2 million. The $28.4 million performance penalty is currently being credited to customers on electric bills beginning on September 1, 2021 over a one-year period. The $28.4 million is the maximum statutory penalty amount under applicable Connecticut law in effect at the time of Tropical Storm Isaias, which is 2.5 percent of CL&P’s annual distribution revenues. In the first quarter of 2021, the liability for the performance penalty of $30 million was recorded as a current regulatory liability on CL&P’s balance sheet and as a charge to Operations and Maintenance expense on the income statement. The after-tax earnings impact of this charge was $0.07 per share. The penalty was subsequently reclassified from Operations and Maintenance expense to a reduction of Operating Revenues in the third quarter of 2021 in connection with the finalization of an October 1, 2021 settlement agreement that was approved by PURA on October 27, 2021.

10.    FAIR VALUE OF FINANCIAL INSTRUMENTS

The following methods and assumptions were used to estimate the fair value of each of the following financial instruments:

Preferred Stock, Long-Term Debt and Rate Reduction Bonds:  The fair value of CL&P's and NSTAR Electric's preferred stock is based upon pricing models that incorporate interest rates and other market factors, valuations or trades of similar securities and cash flow projections.  The fair value of long-term debt and RRB debt securities is based upon pricing models that incorporate quoted market prices for those issues or similar issues adjusted for market conditions, credit ratings of the respective companies and treasury benchmark yields.  The fair values provided in the table below are classified as Level 2 within the fair value hierarchy.  Carrying amounts and estimated fair values are as follows:

	Eversource				CL&P				NSTAR Electric				PSNH
(Millions of Dollars)	Carrying Amount		Fair Value		Carrying Amount		Fair Value		Carrying Amount		Fair Value		Carrying Amount		Fair Value
As of March 31, 2022:
Preferred Stock Not Subject to Mandatory Redemption	$	155.6	$	158.3	$	116.2	$	115.5	$	43.0	$	42.8	$	—	$	—
Long-Term Debt	18,729.6		18,562.3		4,215.7		4,392.2		3,986.3		4,094.1		1,164.0		1,086.3
Rate Reduction Bonds	475.3		492.8		—		—		—		—		475.3		492.8
As of December 31, 2021:
Preferred Stock Not Subject to Mandatory Redemption	$	155.6	$	166.3	$	116.2	$	122.3	$	43.0	$	44.0	$	—	$	—
Long-Term Debt	18,216.7		19,636.3		4,215.4		4,848.9		3,985.4		4,453.5		1,163.8		1,220.6
Rate Reduction Bonds	496.9		543.3		—		—		—		—		496.9		543.3

Derivative Instruments and Marketable Securities: Derivative instruments and investments in marketable securities are carried at fair value.  For further information, see Note 4, "Derivative Instruments," and Note 5, "Marketable Securities," to the financial statements.  

See Note 1C, "Summary of Significant Accounting Policies – Fair Value Measurements," for the fair value measurement policy and the fair value hierarchy.

11.    ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS)

The changes in accumulated other comprehensive income/(loss) by component, net of tax, are as follows:

	For the Three Months Ended March 31, 2022								For the Three Months Ended March 31, 2021
Eversource (Millions of Dollars)	Qualified Cash Flow Hedging Instruments		Unrealized Gains/(Losses) on Marketable Securities		Defined Benefit Plans		Total		Qualified Cash Flow Hedging Instruments		Unrealized Gains/(Losses) on Marketable Securities		Defined Benefit Plans		Total
Balance as of Beginning of Period	$	(0.4)	$	0.4	$	(42.3)	$	(42.3)	$	(1.4)	$	1.1	$	(76.1)	$	(76.4)
OCI Before Reclassifications	—		(0.8)		—		(0.8)		—		(0.7)		—		(0.7)
Amounts Reclassified from AOCI	—		—		1.5		1.5		0.4		—		1.5		1.9
Net OCI	—		(0.8)		1.5		0.7		0.4		(0.7)		1.5		1.2
Balance as of End of Period	$	(0.4)	$	(0.4)	$	(40.8)	$	(41.6)	$	(1.0)	$	0.4	$	(74.6)	$	(75.2)

Defined benefit plan OCI amounts before reclassifications relate to actuarial gains and losses that arose during the year and were recognized in AOCI. The unamortized actuarial gains and losses and prior service costs on the defined benefit plans are amortized from AOCI into Other Income, Net over the average future employee service period, and are reflected in amounts reclassified from AOCI.

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12.    COMMON SHARES

The following table sets forth the Eversource parent common shares and the shares of common stock of CL&P, NSTAR Electric and PSNH that were authorized and issued, as well as the respective per share par values:  

	Shares
			Authorized as of March 31, 2022 and December 31, 2021	Issued as of
	Par Value			March 31, 2022	December 31, 2021
Eversource	$	5	380,000,000	357,818,402	357,818,402
CL&P	$	10	24,500,000	6,035,205	6,035,205
NSTAR Electric	$	1	100,000,000	200	200
PSNH	$	1	100,000,000	301	301

Treasury Shares: As of March 31, 2022 and December 31, 2021, there were 12,968,130 and 13,415,206 Eversource common shares held as treasury shares, respectively. As of March 31, 2022 and December 31, 2021, there were 344,850,272 and 344,403,196 Eversource common shares outstanding, respectively.

Eversource issues treasury shares to satisfy awards under the Company's incentive plans, shares issued under the dividend reinvestment and share purchase plan, and matching contributions under the Eversource 401k Plan. Eversource also issued treasury shares for its 2021 water business acquisition. The issuance of treasury shares represents a non-cash transaction, as the treasury shares were used to fulfill Eversource's obligations that require the issuance of common shares.

13.    COMMON SHAREHOLDERS' EQUITY AND NONCONTROLLING INTERESTS

Dividends on the preferred stock of CL&P and NSTAR Electric totaled $1.9 million for each of the three months ended March 31, 2022 and 2021. These dividends were presented as Net Income Attributable to Noncontrolling Interests on the Eversource statements of income. Noncontrolling Interest – Preferred Stock of Subsidiaries on the Eversource balance sheets totaled $155.6 million as of March 31, 2022 and December 31, 2021. On the Eversource balance sheets, Common Shareholders' Equity was fully attributable to Eversource parent and Noncontrolling Interest – Preferred Stock of Subsidiaries was fully attributable to the noncontrolling interest.

14.    EARNINGS PER SHARE

Basic EPS is computed based upon the weighted average number of common shares outstanding during each period.  Diluted EPS is computed on the basis of the weighted average number of common shares outstanding plus the potential dilutive effect of certain share-based compensation awards as if they were converted into outstanding common shares.  The dilutive effect of unvested RSU and performance share awards is calculated using the treasury stock method.  RSU and performance share awards are included in basic weighted average common shares outstanding as of the date that all necessary vesting conditions have been satisfied. For the three months ended March 31, 2022 and 2021, there were no antidilutive share awards excluded from the computation of diluted EPS.

The following table sets forth the components of basic and diluted EPS:

Eversource (Millions of Dollars, except share information)	For the Three Months Ended
	March 31, 2022		March 31, 2021
Net Income Attributable to Common Shareholders	$	443.4	$	366.1
Weighted Average Common Shares Outstanding:
Basic	345,156,346		343,678,243
Dilutive Effect	504,787		656,446
Diluted	345,661,133		344,334,689
Basic EPS	$	1.28	$	1.07
Diluted EPS	$	1.28	$	1.06

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15.    REVENUES

The following tables present operating revenues disaggregated by revenue source:

	For the Three Months Ended March 31, 2022
Eversource (Millions of Dollars)	Electric Distribution		Natural Gas Distribution		Electric Transmission		Water Distribution		Other		Eliminations		Total
Revenues from Contracts with Customers
Retail Tariff Sales
Residential	$	1,186.2	$	556.8	$	—	$	28.2	$	—	$	—	$	1,771.2
Commercial	661.3		257.6		—		14.6		—		(1.1)		932.4
Industrial	89.6		68.1		—		1.1		—		(4.5)		154.3
Total Retail Tariff Sales Revenues	1,937.1		882.5		—		43.9		—		(5.6)		2,857.9
Wholesale Transmission Revenues	—		—		446.2		—		24.4		(364.7)		105.9
Wholesale Market Sales Revenues	365.5		33.5		—		0.8		—		—		399.8
Other Revenues from Contracts with Customers	17.7		1.0		3.8		1.9		359.1		(353.1)		30.4
Amortization of/(Reserve for)     Revenues Subject to Refund (1)	58.4		—		—		(0.4)		—		—		58.0
Total Revenues from Contracts with Customers	2,378.7		917.0		450.0		46.2		383.5		(723.4)		3,452.0
Alternative Revenue Programs	4.8		10.2		(15.0)		2.2		—		13.6		15.8
Other Revenues (2)	2.8		0.4		0.2		0.1		—		—		3.5
Total Operating Revenues	$	2,386.3	$	927.6	$	435.2	$	48.5	$	383.5	$	(709.8)	$	3,471.3

	For the Three Months Ended March 31, 2021
Eversource (Millions of Dollars)	Electric Distribution		Natural Gas Distribution		Electric Transmission		Water Distribution		Other		Eliminations		Total
Revenues from Contracts with Customers
Retail Tariff Sales
Residential	$	1,066.0	$	466.3	$	—	$	27.7	$	—	$	—	$	1,560.0
Commercial	559.9		207.6		—		13.8		—		(1.4)		779.9
Industrial	83.0		55.9		—		1.0		—		(3.5)		136.4
Total Retail Tariff Sales Revenues	1,708.9		729.8		—		42.5		—		(4.9)		2,476.3
Wholesale Transmission Revenues	—		—		394.3		—		19.2		(321.0)		92.5
Wholesale Market Sales Revenues	149.1		26.4		—		0.8		—		—		176.3
Other Revenues from Contracts with Customers	18.2		1.3		3.4		1.2		323.8		(321.3)		26.6
Total Revenues from Contracts with Customers	1,876.2		757.5		397.7		44.5		343.0		(647.2)		2,771.7
Alternative Revenue Programs	23.0		22.8		2.7		1.8		—		2.2		52.5
Other Revenues (2)	1.1		0.2		0.2		0.1		—		—		1.6
Total Operating Revenues	$	1,900.3	$	780.5	$	400.6	$	46.4	$	343.0	$	(645.0)	$	2,825.8

	For the Three Months Ended March 31, 2022						For the Three Months Ended March 31, 2021
(Millions of Dollars)	CL&P		NSTAR Electric		PSNH		CL&P		NSTAR Electric		PSNH
Revenues from Contracts with Customers
Retail Tariff Sales
Residential	$	599.1	$	404.6	$	182.5	$	545.8	$	362.4	$	157.8
Commercial	242.2		331.3		88.4		214.2		268.3		77.8
Industrial	33.5		34.1		22.0		36.7		24.6		21.7
Total Retail Tariff Sales Revenues	874.8		770.0		292.9		796.7		655.3		257.3
Wholesale Transmission Revenues	209.1		165.2		71.9		189.0		147.1		58.2
Wholesale Market Sales Revenues	279.9		57.9		27.7		109.7		24.4		15.0
Other Revenues from Contracts with Customers	7.9		11.6		2.6		7.3		11.7		3.2
Amortization of Revenues Subject to Refund (1)	58.4		—		—		—		—		—
Total Revenues from Contracts with Customers	1,430.1		1,004.7		395.1		1,102.7		838.5		333.7
Alternative Revenue Programs	1.3		(8.2)		(3.3)		8.9		13.8		3.0
Other Revenues (2)	0.1		2.0		0.9		0.2		1.1		—
Eliminations	(145.7)		(135.3)		(53.3)		(124.5)		(116.4)		(43.3)
Total Operating Revenues	$	1,285.8	$	863.2	$	339.4	$	987.3	$	737.0	$	293.4

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(1)    Amortization of Revenues Subject to Refund within the Electric Distribution segment in the first quarter of 2022 represents customer credits being distributed to CL&P’s customers on retail electric bills as a result of the October 2021 CL&P settlement agreement and the 2021 civil penalty for non-compliance with storm performance standards. Total customer credits as a result of the 2021 settlement and civil penalty were $93.4 million. The settlement amount of $65 million was refunded over a two-month billing period from December 1, 2021 to January 31, 2022 and the civil penalty of $28.4 million is being refunded over a one year billing period, which began September 1, 2021.

(2)    Other Revenues include certain fees charged to customers that are not considered revenue from contracts with customers. Other Revenues also include lease revenues under lessor accounting guidance of $1.0 million (including $0.2 million at CL&P and $0.6 million at NSTAR Electric) and $1.6 million (including $0.2 million at CL&P and $1.1 million at NSTAR Electric) for the three months ended March 31, 2022 and 2021, respectively.     

16.    SEGMENT INFORMATION

Eversource is organized into the Electric Distribution, Electric Transmission, Natural Gas Distribution and Water Distribution reportable segments and Other based on a combination of factors, including the characteristics of each segments' services, the sources of operating revenues and expenses and the regulatory environment in which each segment operates.  These reportable segments represent substantially all of Eversource's total consolidated revenues.  Revenues from the sale of electricity, natural gas and water primarily are derived from residential, commercial and industrial customers and are not dependent on any single customer.  The Electric Distribution reportable segment includes the results of NSTAR Electric's solar power facilities. Eversource's reportable segments are determined based upon the level at which Eversource's chief operating decision maker assesses performance and makes decisions about the allocation of company resources.

The remainder of Eversource's operations is presented as Other in the tables below and primarily consists of 1) the equity in earnings of Eversource parent from its subsidiaries and intercompany interest income, both of which are eliminated in consolidation, and interest expense related to the debt of Eversource parent, 2) the revenues and expenses of Eversource Service, most of which are eliminated in consolidation, 3) the operations of CYAPC and YAEC, 4) the results of other unregulated subsidiaries, which are not part of its core business, and 5) Eversource parent's equity ownership interests that are not consolidated, which primarily include the offshore wind business, a natural gas pipeline owned by Enbridge, Inc., and a renewable energy investment fund.

In the ordinary course of business, Yankee Gas, NSTAR Gas and EGMA purchase natural gas transmission services from the Enbridge, Inc. natural gas pipeline project described above. These affiliate transaction costs total $77.7 million annually and are classified as Purchased Power, Fuel and Transmission on the Eversource statements of income.

Each of Eversource's subsidiaries, including CL&P, NSTAR Electric and PSNH, has one reportable segment.

Cash flows used for investments in plant included in the segment information below are cash capital expenditures that do not include amounts incurred but not paid, cost of removal, AFUDC related to equity funds, and the capitalized portions of pension and PBOP expense.   

Eversource's segment information is as follows:

	For the Three Months Ended March 31, 2022
Eversource (Millions of Dollars)	Electric Distribution		Natural Gas Distribution		Electric Transmission		Water Distribution		Other		Eliminations		Total
Operating Revenues	$	2,386.3	$	927.6	$	435.2	$	48.5	$	383.5	$	(709.8)	$	3,471.3
Depreciation and Amortization	(351.6)		(51.9)		(81.9)		(12.3)		(30.2)		1.6		(526.3)
Other Operating Expenses	(1,845.6)		(657.3)		(129.3)		(27.1)		(331.4)		708.8		(2,281.9)
Operating Income	$	189.1	$	218.4	$	224.0	$	9.1	$	21.9	$	0.6	$	663.1
Interest Expense	$	(59.4)	$	(15.8)	$	(33.2)	$	(8.2)	$	(46.8)	$	10.1	$	(153.3)
Other Income, Net	47.6		10.1		8.9		2.2		495.9		(493.1)		71.6
Net Income Attributable to Common Shareholders	140.9		164.0		148.5		3.7		468.7		(482.4)		443.4
Cash Flows Used for Investments in Plant	280.5		127.3		266.9		27.8		62.1		—		764.6

	For the Three Months Ended March 31, 2021
Eversource (Millions of Dollars)	Electric Distribution		Natural Gas Distribution		Electric Transmission		Water Distribution		Other		Eliminations		Total
Operating Revenues	$	1,900.3	$	780.5	$	400.6	$	46.4	$	343.0	$	(645.0)	$	2,825.8
Depreciation and Amortization	(221.9)		(45.7)		(73.5)		(11.3)		(27.3)		1.0		(378.7)
Other Operating Expenses	(1,530.5)		(535.8)		(115.4)		(25.1)		(299.5)		644.8		(1,861.5)
Operating Income	$	147.9	$	199.0	$	211.7	$	10.0	$	16.2	$	0.8	$	585.6
Interest Expense	$	(53.3)	$	(13.9)	$	(32.7)	$	(7.9)	$	(41.6)	$	11.6	$	(137.8)
Other Income, Net	20.7		3.9		5.5		1.0		424.1		(421.0)		34.2
Net Income Attributable to Common Shareholders	93.2		147.6		135.4		3.6		394.9		(408.6)		366.1
Cash Flows Used for Investments in Plant	256.6		131.8		225.2		27.6		47.8		—		689.0

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The following table summarizes Eversource's segmented total assets:

Eversource (Millions of Dollars)	Electric Distribution		Natural Gas Distribution		Electric Transmission		Water Distribution		Other		Eliminations		Total
As of March 31, 2022	$	25,883.2	$	7,329.7	$	12,757.8	$	2,572.1	$	23,394.3	$	(22,647.9)	$	49,289.2
As of December 31, 2021	25,411.2		7,215.9		12,377.8		2,551.1		22,674.7		(21,738.6)		48,492.1

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EVERSOURCE ENERGY AND SUBSIDIARIES

Management's Discussion and Analysis of Financial Condition and Results of Operations

The following discussion and analysis should be read in conjunction with our unaudited condensed consolidated financial statements and related combined notes included in this combined Quarterly Report on Form 10-Q, as well as the Eversource 2021 combined Annual Report on Form 10-K.  References in this combined Quarterly Report on Form 10-Q to "Eversource," the "Company," "we," "us," and "our" refer to Eversource Energy and its consolidated subsidiaries.  All per-share amounts are reported on a diluted basis.  The unaudited condensed consolidated financial statements of Eversource, NSTAR Electric and PSNH and the unaudited condensed financial statements of CL&P are herein collectively referred to as the "financial statements."  

Refer to the Glossary of Terms included in this combined Quarterly Report on Form 10-Q for abbreviations and acronyms used throughout this Management's Discussion and Analysis of Financial Condition and Results of Operations.  

The only common equity securities that are publicly traded are common shares of Eversource. The earnings and EPS of each business discussed below do not represent a direct legal interest in the assets and liabilities of such business, but rather represent a direct interest in our assets and liabilities as a whole. EPS by business is a financial measure not recognized under GAAP (non-GAAP) that is calculated by dividing the Net Income Attributable to Common Shareholders of each business by the weighted average diluted Eversource common shares outstanding for the period. Our earnings discussion also includes non-GAAP financial measures referencing our 2022 earnings and EPS excluding certain acquisition and transition costs and our 2021 earnings and EPS excluding charges at CL&P related to an October 2021 settlement agreement that included credits to customers and funding of various customer assistance initiatives and a 2021 storm performance penalty imposed on CL&P by the PURA.

We use these non-GAAP financial measures to evaluate and provide details of earnings results by business and to more fully compare and explain our 2022 and 2021 results without including these items. This information is among the primary indicators we use as a basis for evaluating performance and planning and forecasting of future periods. We believe the impacts of acquisition and transition costs, the CL&P October 2021 settlement agreement, and the 2021 storm performance penalty imposed on CL&P by the PURA are not indicative of our ongoing costs and performance. We view these charges as not directly related to the ongoing operations of the business and therefore not an indicator of baseline operating performance. Due to the nature and significance of the effect of these items on Net Income Attributable to Common Shareholders and EPS, we believe that the non-GAAP presentation is a more meaningful representation of our financial performance and provides additional and useful information to readers of this report in analyzing historical and future performance of our business. These non-GAAP financial measures should not be considered as alternatives to reported Net Income Attributable to Common Shareholders or EPS determined in accordance with GAAP as indicators of operating performance.

We make statements concerning our expectations, beliefs, plans, objectives, goals, strategies, assumptions of future events, future financial performance or growth and other statements that are not historical facts. These statements are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. You can generally identify our forward-looking statements through the use of words or phrases such as "estimate," "expect," "anticipate," "intend," "plan," "project," "believe," "forecast," "should," "could," and other similar expressions. Forward-looking statements involve risks and uncertainties that may cause actual results or outcomes to differ materially from those included in our forward-looking statements. Forward-looking statements are based on the current expectations, estimates, assumptions or projections of management and are not guarantees of future performance. These expectations, estimates, assumptions or projections may vary materially from actual results. Accordingly, any such statements are qualified in their entirety by reference to, and are accompanied by, the following important factors that may cause our actual results or outcomes to differ materially from those contained in our forward-looking statements, including, but not limited to:

•cyberattacks or breaches, including those resulting in the compromise of the confidentiality of our proprietary information and the personal information of our customers,

•    disruptions in the capital markets or other events that make our access to necessary capital more difficult or costly,

•    the negative impacts of the novel coronavirus (COVID-19) pandemic, including any new or emerging variants, on our customers, vendors, employees, regulators, and operations,

•    changes in economic conditions, including impact on interest rates, tax policies, and customer demand and payment ability,

•    ability or inability to commence and complete our major strategic development projects and opportunities,

•    acts of war or terrorism, physical attacks or grid disturbances that may damage and disrupt our electric transmission and electric, natural gas, and water distribution systems,

•    actions or inaction of local, state and federal regulatory, public policy and taxing bodies,

•    substandard performance of third-party suppliers and service providers,

•    fluctuations in weather patterns, including extreme weather due to climate change,

•    changes in business conditions, which could include disruptive technology or development of alternative energy sources related to our current or future business model,

•    contamination of, or disruption in, our water supplies,

•    changes in levels or timing of capital expenditures,

•    changes in laws, regulations or regulatory policy, including compliance with environmental laws and regulations,

•    changes in accounting standards and financial reporting regulations,

•    actions of rating agencies, and

•    other presently unknown or unforeseen factors.

Other risk factors are detailed in our reports filed with the SEC and updated as necessary, and we encourage you to consult such disclosures.

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All such factors are difficult to predict and contain uncertainties that may materially affect our actual results, many of which are beyond our control.  You should not place undue reliance on the forward-looking statements, as each speaks only as of the date on which such statement is made, and, except as required by federal securities laws, we undertake no obligation to update any forward-looking statement or statements to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. New factors emerge from time to time and it is not possible for us to predict all of such factors, nor can we assess the impact of each such factor on the business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. For more information, see Item 1A, Risk Factors, included in this combined Quarterly Report on Form 10-Q and in Eversource's 2021 combined Annual Report on Form 10-K.  This combined Quarterly Report on Form 10-Q and Eversource's 2021 combined Annual Report on Form 10-K also describe material contingencies and critical accounting policies in the accompanying Management's Discussion and Analysis of Financial Condition and Results of Operations and Combined Notes to Financial Statements.  We encourage you to review these items.

Financial Condition and Business Analysis

Executive Summary

Eversource Energy is a public utility holding company primarily engaged, through its wholly-owned regulated utility subsidiaries, in the energy delivery business.  Eversource Energy's wholly-owned regulated utility subsidiaries consist of CL&P, NSTAR Electric and PSNH (electric utilities), Yankee Gas, NSTAR Gas and Eversource Gas Company of Massachusetts (EGMA) (natural gas utilities) and Aquarion (water utilities). Eversource is organized into the electric distribution, electric transmission, natural gas distribution, and water distribution reportable segments.

The following items in this executive summary are explained in more detail in this combined Quarterly Report on Form 10-Q:

Earnings Overview and Future Outlook: 

•We earned $443.4 million, or $1.28 per share, in the first quarter of 2022, compared with $366.1 million, or $1.06 per share, in the first quarter of 2021.

•Our first quarter of 2022 results include after-tax acquisition and transition costs of $5.3 million, or $0.02 per share, recorded at Eversource parent. Our first quarter of 2021 results include an after-tax charge at CL&P of $24.1 million, or $0.07 per share, recorded within the electric distribution segment resulting from a PURA assessment as a result of CL&P’s preparation for and response to Tropical Storm Isaias in August 2020. Our first quarter of 2021 results also include after-tax acquisition and transition costs of $6.2 million, or $0.02 per share, recorded at Eversource parent. Excluding those costs, our non-GAAP earnings were $448.7 million, or $1.30 per share, in the first quarter of 2022, compared with $396.4 million, or $1.15 per share, in the first quarter of 2021.

•We reaffirmed our projection of our long-term EPS growth rate through 2026 from our regulated utility businesses in the upper half of the 5 to 7 percent range. We estimate to earn within the 2022 non-GAAP earnings guidance range of between $4.00 per share and $4.17 per share, which excludes the impact of acquisition and transition costs.

Liquidity:

•Cash flows provided by operating activities totaled $371.9 million in the first quarter of 2022, compared with $411.4 million in the first quarter of 2021. Investments in property, plant and equipment totaled $764.6 million in the first quarter of 2022, compared with $689.0 million in the first quarter of 2021.  

•Cash totaled $46.2 million as of March 31, 2022, compared with $66.8 million as of December 31, 2021. Our available borrowing capacity under our commercial paper programs totaled $981.2 million as of March 31, 2022. In the first quarter of 2022, we issued $1.30 billion of new long-term debt and we repaid $770 million of long-term debt.

•On May 4, 2022, our Board of Trustees approved a common share dividend payment of $0.6375 per share, payable on June 30, 2022 to shareholders of record as of May 19, 2022. On February 2, 2022, our Board of Trustees approved a common share dividend payment of $0.6375 per share, paid on March 31, 2022 to shareholders of record as of March 3, 2022.

Strategic Items:

•On May 4, 2022, we announced that we have initiated a strategic review of our offshore wind investment portfolio. As part of that review, we will explore strategic alternatives that could result in a potential sale of all, or part, of our 50 percent interest in our offshore wind partnership with Ørsted. We expect to complete this review during 2022. If the recommended path forward following the strategic review is a sale of all, or part, of our interest in the partnership, we expect potential proceeds from such transaction would likely be used to support our regulated investments in strengthening, modernizing and decarbonizing our regulated energy and water delivery systems. As the strategic review proceeds, we remain committed to continue providing oversight of the siting and construction of onshore elements of our South Fork Wind, Revolution Wind and Sunrise Wind offshore wind projects.

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•South Fork Wind received all required approvals to start construction and the project entered the construction phase in early 2022. Site preparation and onshore activities for the project’s underground onshore transmission line and construction of the onshore interconnection facility located in East Hampton, New York are underway.

Earnings Overview

Consolidated:  Below is a summary of our earnings by business, which also reconciles the non-GAAP financial measures of consolidated non-GAAP earnings and EPS, as well as EPS by business, to the most directly comparable GAAP measures of consolidated Net Income Attributable to Common Shareholders and diluted EPS.

	For the Three Months Ended March 31,
	2022				2021
(Millions of Dollars, Except Per Share Amounts)	Amount		Per Share		Amount		Per Share
Net Income Attributable to Common Shareholders (GAAP)	$	443.4	$	1.28	$	366.1	$	1.06
Regulated Companies (Non-GAAP)	$	457.1	$	1.32	$	403.9	$	1.17
Eversource Parent and Other Companies (Non-GAAP)	(8.4)		(0.02)		(7.5)		(0.02)
Non-GAAP Earnings	$	448.7	$	1.30	$	396.4	$	1.15
CL&P Storm Performance Penalty (after-tax) (1)	—		—		(24.1)		(0.07)
Acquisition and Transition Costs (after-tax) (2)	(5.3)		(0.02)		(6.2)		(0.02)
Net Income Attributable to Common Shareholders (GAAP)	$	443.4	$	1.28	$	366.1	$	1.06

(1)    The 2021 after-tax cost relates to a charge recorded at CL&P as a result of the April 28, 2021 PURA decision and May 6, 2021 PURA notice of violation, which included a $28.4 million penalty for storm performance results and is currently being provided as credits to customer bills and a $1.6 million fine to the State of Connecticut’s general fund. The $1.6 million fine was subsequently reduced to $0.2 million in PURA’s July 14, 2021 decision. As a result of the October 1, 2021 CL&P settlement agreement, CL&P agreed to withdraw its pending appeals related to the storm performance penalty imposed in PURA’s April 28, 2021 and July 14, 2021 decisions. Management views the CL&P storm performance penalty and the subsequent October 1, 2021 settlement agreement impacts collectively, and as not directly related to the ongoing operations of the business and therefore not an indicator of baseline operating performance. As a result, beginning in the third quarter of 2021, the storm performance penalty was presented as a non-GAAP adjustment to net income. The first quarter of 2021 non-GAAP reconciliation has been recast to conform to this presentation.

(2)    The after-tax costs are for the continuing transition of systems as a result of our purchase of the assets of CMA on October 9, 2020 and integrating the CMA assets onto Eversource’s systems. The after-tax costs also include costs associated with our water business acquisitions.

Regulated Companies:  Our regulated companies comprise the electric distribution, electric transmission, natural gas distribution and water distribution segments. A summary of our segment earnings and EPS is as follows: 

	For the Three Months Ended March 31,
	2022				2021
(Millions of Dollars, Except Per Share Amounts)	Amount		Per Share		Amount		Per Share
Net Income - Regulated Companies (GAAP)	$	457.1	$	1.32	$	379.8	$	1.10
Electric Distribution, excluding CL&P Storm Performance Penalty   (Non-GAAP)	$	140.9	$	0.41	$	117.3	$	0.34
Electric Transmission	148.5		0.43		135.4		0.39
Natural Gas Distribution	164.0		0.47		147.6		0.43
Water Distribution	3.7		0.01		3.6		0.01
Net Income - Regulated Companies (Non-GAAP)	$	457.1	$	1.32	$	403.9	$	1.17
CL&P Storm Performance Penalty (after-tax)	—		—		(24.1)		(0.07)
Net Income - Regulated Companies (GAAP)	$	457.1	$	1.32	$	379.8	$	1.10

Our electric distribution segment earnings increased $47.7 million in the first quarter of 2022, as compared to the first quarter of 2021, due primarily to the absence in 2022 of the $30.0 million pre-tax charge to earnings at CL&P for a storm performance penalty imposed by PURA as a result of CL&P’s preparation for and response to Tropical Storm Isaias in August 2020 that was recorded in 2021. The after-tax impact of the CL&P storm performance penalty was $24.1 million, or $0.07 per share. Excluding that charge, electric distribution segment earnings increased $23.6 million due primarily to base distribution rate increases at NSTAR Electric effective January 1, 2022 and at PSNH effective August 1, 2021, higher earnings from CL&P's capital tracking mechanism due to increased electric system improvements, and lower pension plan expense in Connecticut and New Hampshire. Those earnings increases were partially offset by higher operations and maintenance expense driven primarily by higher storm costs, higher depreciation, higher property tax expense and higher interest expense. Our Massachusetts utilities recover qualified pension and PBOP expenses related to their distribution operations through a rate reconciling mechanism that fully tracks the change in net pension and PBOP expenses each year, therefore the change in their pension expense does not impact earnings.

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Our electric transmission segment earnings increased $13.1 million in the first quarter of 2022, as compared to the first quarter of 2021, due primarily to a higher transmission rate base as a result of our continued investment in our transmission infrastructure.

Our natural gas distribution segment earnings increased $16.4 million in the first quarter of 2022, as compared to the first quarter of 2021, due primarily to base distribution rate increases at EGMA and NSTAR Gas effective November 1, 2021, higher earnings from capital tracking mechanisms due to continued investments in natural gas infrastructure, and lower pension plan expense at Yankee Gas. Those earnings increases were partially offset by higher operations and maintenance expense, higher property tax expense, higher interest expense, and higher depreciation expense. Our natural gas companies' decoupled rate structure is seasonally structured and provides greater earnings in the winter heating months in correlation to higher customer usage. Therefore, the majority of the impact of the EGMA and NSTAR Gas annual base distribution rate increases have been recognized by the end of the first quarter of 2022.

Our water distribution segment earnings increased $0.1 million in the first quarter of 2022, as compared to the first quarter of 2021.

Eversource Parent and Other Companies:  Eversource parent and other companies’ losses were flat in the first quarter of 2022, as compared to the first quarter of 2021. Higher interest expense was offset by a higher return at Eversource Service as a result of increased investments in property, plant and equipment and an after-tax decrease of $0.9 million in acquisition and transition costs of EGMA recorded at Eversource parent.

Impact of COVID-19

The current and expected future financial impacts of COVID-19 as it relates to our businesses primarily relate to collectability of customer receivables and customer payment plans and the outcome of future proceedings before our state regulatory commissions to recover our incremental costs associated with COVID-19.

As of March 31, 2022, our allowance for uncollectible customer receivable balance of $432.2 million, of which $225.5 million relates to hardship accounts that are specifically recovered in rates charged to customers, adequately reflected the collection risk and net realizable value for our receivables. As of March 31, 2022 and December 31, 2021, the total amount incurred as a result of COVID-19 included in the allowance for uncollectible accounts was $58.5 million and $55.3 million at Eversource, $20.4 million and $23.9 million at CL&P, and $9.0 million and $9.0 million at NSTAR Electric, respectively. At our Connecticut and Massachusetts utilities, the COVID-19 related uncollectible amounts were deferred either as incremental regulatory costs or deferred through existing regulatory tracking mechanisms that recover uncollectible energy supply costs, as management believes it is probable that these costs will ultimately be recovered from customers in future rates. No COVID-19 related uncollectible amounts were deferred at PSNH as a result of a July 2021 NHPUC order. Based on the status of our COVID-19 regulatory dockets, and policies and practices in the jurisdictions in which we operate, we believe our state regulatory commissions in Connecticut and Massachusetts will allow us to recover our incremental uncollectible customer receivable costs associated with COVID-19.

As of March 31, 2022 and December 31, 2021, a total of $35.0 million and $33.0 million, respectively, of incremental COVID-19 related non-tracked uncollectible costs were recorded on the balance sheets.

Liquidity

Sources and Uses of Cash: Eversource’s regulated business is capital intensive and requires considerable capital resources. Eversource’s regulated companies’ capital resources are provided by cash flows generated from operations, short-term borrowings, long-term debt issuances, capital contributions from Eversource parent, and existing cash, and are used to fund their liquidity and capital requirements. Eversource’s regulated companies typically maintain minimal cash balances and use short-term borrowings to meet their working capital needs and other cash requirements. Short-term borrowings are also used as a bridge to long-term debt financings. The levels of short-term borrowing may vary significantly over the course of the year due to the impact of fluctuations in cash flows from operations, dividends paid, capital contributions received and the timing of long-term debt financings.

Eversource, CL&P, NSTAR Electric and PSNH each uses its available capital resources to fund its respective construction expenditures, meet debt requirements, pay operating costs, including storm-related costs, pay dividends, and fund other corporate obligations, such as pension contributions. Eversource's regulated companies recover their electric, natural gas and water distribution construction expenditures as the related project costs are depreciated over the life of the assets. This impacts the timing of the revenue stream designed to fully recover the total investment plus a return on the equity and debt used to finance the investments. Eversource's regulated companies spend a significant amount of cash on capital improvements and construction projects that have a long-term return on investment and recovery period. In addition, Eversource uses its capital resources to fund investments in its offshore wind business, which are recognized as long-term assets.

We expect the future operating cash flows of Eversource, CL&P, NSTAR Electric and PSNH, along with our existing borrowing availability and access to both debt and equity markets, will be sufficient to meet any working capital and future operating requirements, and capital investment forecasted opportunities.

Cash totaled $46.2 million as of March 31, 2022, compared with $66.8 million as of December 31, 2021.

Short-Term Debt - Commercial Paper Programs and Credit Agreements: Eversource parent has a $2.00 billion commercial paper program allowing Eversource parent to issue commercial paper as a form of short-term debt. Eversource parent, CL&P, PSNH, NSTAR Gas, Yankee Gas, EGMA and Aquarion Water Company of Connecticut are parties to a five-year $2.00 billion revolving credit facility, which terminates on October 15, 2026. This revolving credit facility serves to backstop Eversource parent's $2.00 billion commercial paper program.  

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NSTAR Electric has a $650 million commercial paper program allowing NSTAR Electric to issue commercial paper as a form of short-term debt. NSTAR Electric is also a party to a five-year $650 million revolving credit facility, which terminates on October 15, 2026. The revolving credit facility serves to backstop NSTAR Electric's $650 million commercial paper program.  

The amount of borrowings outstanding and available under the commercial paper programs were as follows:

	Borrowings Outstanding as of				Available Borrowing Capacity as of				Weighted-Average Interest Rate as of
	March 31, 2022		December 31, 2021		March 31, 2022		December 31, 2021		March 31, 2022		December 31, 2021
(Millions of Dollars)
Eversource Parent Commercial Paper Program	$	1,393.8	$	1,343.0	$	606.2	$	657.0	0.93	%	0.31	%
NSTAR Electric Commercial Paper Program	275.0		162.5		375.0		487.5		0.43	%	0.14	%

There were no borrowings outstanding on the revolving credit facilities as of March 31, 2022 or December 31, 2021.

CL&P and PSNH have uncommitted line of credit agreements totaling $450 million and $300 million, respectively, which will expire on May 12, 2022. There are no borrowings outstanding on either the CL&P or PSNH uncommitted line of credit agreements as of March 31, 2022.

Amounts outstanding under the commercial paper programs are included in Notes Payable and classified in current liabilities on the Eversource and NSTAR Electric balance sheets, as all borrowings are outstanding for no more than 364 days at one time.

Intercompany Borrowings: Eversource parent uses its available capital resources to provide loans to its subsidiaries to assist in meeting their short-term borrowing needs. Eversource parent records intercompany interest income from its loans to subsidiaries, which is eliminated in consolidation. Intercompany loans from Eversource parent to its subsidiaries are eliminated in consolidation on Eversource's balance sheets. As of March 31, 2022, there were intercompany loans from Eversource parent to PSNH of $196.4 million and to a subsidiary of NSTAR Electric of $4.0 million. As of December 31, 2021, there were intercompany loans from Eversource parent to PSNH of $110.6 million. Intercompany loans from Eversource parent are included in Notes Payable to Eversource Parent and classified in current liabilities on the respective subsidiary's balance sheets.

Long-Term Debt Issuances and Repayments: The following table summarizes long-term debt issuances and repayments:

(Millions of Dollars)	Issuance/(Repayment)		Issue Date or Repayment Date	Maturity Date	Use of Proceeds for Issuance/ Repayment Information
Eversource Parent 2.90% Series V Senior Notes	$	650.0	February 2022	March 2027	Repaid Series K Senior Notes at maturity and short-term debt
Eversource Parent 3.38% Series W Senior Notes	650.0		February 2022	March 2032	Repaid Series K Senior Notes at maturity and short-term debt
Eversource Parent 2.75% Series K Senior Notes	(750.0)		March 2022	March 2022	Paid at maturity
Yankee Gas 8.48% Series B First Mortgage Bonds	(20.0)		March 2022	March 2022	Paid at maturity

Rate Reduction Bonds: PSNH's RRB payments consist of principal and interest and are paid semi-annually. PSNH paid $21.6 million of RRB principal payments and $9.0 million of interest payments in the first quarter of 2022, and paid $21.6 million of RRB principal payments and $9.6 million of interest payments in the first quarter of 2021.

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 $371.9 million in the first quarter of 2022, compared with $411.4 million in the first quarter of 2021. Changes in Eversource’s cash flows from operations were generally consistent with changes in its results of operations, as adjusted by changes in working capital in the normal course of business and as further discussed. Operating cash flows were unfavorably impacted by the timing of cash collections on our accounts receivable, an increase in regulatory under-recoveries driven by the timing of collections for regulatory tracking mechanisms and an increase in cash payments for storm costs, customer credits being distributed to CL&P’s customers in the first quarter of 2022 as a result of the October 2021 settlement agreement and the 2021 storm performance penalty for its response to Tropical Storm Isaias, a $22.3 million increase in cost of removal expenditures, and an increase in income tax payments of $7.2 million made in 2022, as compared to 2021. These unfavorable impacts were partially offset by the timing of cash payments made on our accounts payable, the timing of other working capital items, and a $5.0 million decrease in pension contributions made in 2022, as compared to 2021.

On May 4, 2022, our Board of Trustees approved a common share dividend payment of $0.6375 per share, payable on June 30, 2022 to shareholders of record as of May 19, 2022. On February 2, 2022, our Board of Trustees approved a common share dividend payment of $0.6375 per share, paid on March 31, 2022 to shareholders of record as of March 3, 2022. In the first quarter of 2022, we paid cash dividends of $213.9 million and issued non-cash dividends of $5.9 million in the form of treasury shares, totaling dividends of $219.8 million. In the first quarter of 2021, we paid cash dividends of $201.0 million and issued non-cash dividends of $5.9 million in the form of treasury shares, totaling dividends of $206.9 million.

Eversource issues treasury shares to satisfy awards under the Company's incentive plans, shares issued under the dividend reinvestment and share purchase plan, and matching contributions under the Eversource 401k Plan.

In the first quarter of 2022, CL&P, NSTAR Electric and PSNH paid $73.1 million, $71.9 million, and $26.0 million, respectively, in common stock dividends to Eversource parent.

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Investments in Property, Plant and Equipment on the statements of cash flows do not include amounts incurred on capital projects but not yet paid, cost of removal, AFUDC related to equity funds, and the capitalized and deferred portions of pension and PBOP income/expense.  In the first quarter of 2022, investments for Eversource, CL&P, NSTAR Electric, and PSNH were $764.6 million, $205.3 million, $234.1 million, and $107.9 million, respectively. Capital expenditures were primarily for continuing projects to maintain and improve infrastructure and operations, including enhancing reliability to the transmission and distribution systems.

Contractual Obligations: Our cash requirements from contractual obligations were reported in Item 7, "Management’s Discussion and Analysis of Financial Condition and Results of Operations," of the Eversource 2021 Form 10-K. See Note 9B, "Commitments and Contingencies – Long-Term Contractual Arrangements," to the financial statements for discussion of material changes to our cash requirements from contractual obligations. Other than as described in the footnote, there have been no material changes to our cash requirements from contractual obligations and payment schedules previously disclosed in our 2021 Form 10-K.

Credit Ratings: On April 8, 2022, Fitch changed CL&P’s outlook from negative to stable.

Business Development and Capital Expenditures

Our consolidated capital expenditures, including amounts incurred but not paid, cost of removal, AFUDC, and the capitalized and deferred portions of pension and PBOP income/expense (all of which are non-cash factors), totaled $685.6 million in the first quarter of 2022, compared to $620.7 million in the first quarter of 2021.  These amounts included $53.7 million and $47.8 million in the first quarter of 2022 and 2021, respectively, related to information technology and facilities upgrades and enhancements, primarily at Eversource Service and The Rocky River Realty Company.

Electric Transmission Business:  Our consolidated electric transmission business capital expenditures increased by $43.3 million in the first quarter of 2022, as compared to the first quarter of 2021.  A summary of electric transmission capital expenditures by company is as follows:  

	For the Three Months Ended March 31,
(Millions of Dollars)	2022		2021
CL&P	$	93.8	$	81.3
NSTAR Electric	83.4		82.0
PSNH	53.3		23.9
Total Electric Transmission Segment	$	230.5	$	187.2

Our transmission projects are designed to improve the reliability of the electric grid, meet customer demand for power, strengthen the electric grid's resilience against extreme weather and other safety and security threats, and increase access to clean power generation from renewable sources, such as solar and offshore wind. In Connecticut, Massachusetts and New Hampshire, our transmission projects include transmission line upgrades, the installation of new transmission lines, and substation enhancements.

Our transmission projects in Massachusetts include electric transmission upgrades in the greater Boston metropolitan area. Two of these upgrades, the Mystic-Woburn and the Wakefield-Woburn reliability projects, are under construction and are expected to be placed in service by the second quarter of 2023. Construction on the last remaining upgrade, the Sudbury-Hudson Reliability Project, is expected to commence in the second quarter of 2022. We spent $9.5 million during the first quarter of 2022 and we expect to make additional capital expenditures of approximately $160 million on these remaining transmission upgrades. There are also several transmission projects underway in southeastern Massachusetts, including Cape Cod, required to reinforce the Southeastern Massachusetts transmission system and bring the system into compliance with applicable national and regional reliability standards. We spent $6.5 million during the first quarter of 2022 and we expect to make additional capital expenditures of approximately $130 million on these transmission upgrades.

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Distribution Business:  A summary of distribution capital expenditures is as follows:

	For the Three Months Ended March 31,
(Millions of Dollars)	CL&P		NSTAR Electric		PSNH		Total Electric		Natural Gas		Water		Total
2022
Basic Business	$	59.3	$	27.3	$	13.5	$	100.1	$	54.9	$	1.8	$	156.8
Aging Infrastructure	34.2		48.6		12.4		95.2		61.2		23.6		180.0
Load Growth and Other	14.0		36.4		5.2		55.6		8.8		0.1		64.5
Total Distribution	107.5		112.3		31.1		250.9		124.9		25.5		401.3
Solar	—		0.1		—		0.1		—		—		0.1
Total	$	107.5	$	112.4	$	31.1	$	251.0	$	124.9	$	25.5	$	401.4
2021
Basic Business	$	45.0	$	31.3	$	13.6	$	89.9	$	25.4	$	1.7	$	117.0
Aging Infrastructure	34.1		46.1		19.5		99.7		77.2		16.7		193.6
Load Growth and Other	20.3		35.3		7.7		63.3		12.8		0.1		76.2
Total Distribution	99.4		112.7		40.8		252.9		115.4		18.5		386.8
Solar	—		(1.1)		—		(1.1)		—		—		(1.1)
Total	$	99.4	$	111.6	$	40.8	$	251.8	$	115.4	$	18.5	$	385.7

For the electric distribution business, basic business includes the purchase of meters, tools, vehicles, information technology, transformer replacements, equipment facilities, and the relocation of plant. Aging infrastructure relates to reliability and the replacement of overhead lines, plant substations, underground cable replacement, and equipment failures. Load growth and other includes requests for new business and capacity additions on distribution lines and substation additions and expansions.

For the natural gas distribution business, basic business addresses daily operational needs including meters, pipe relocations due to public works projects, vehicles, and tools. Aging infrastructure projects seek to improve the reliability of the system through enhancements related to cast iron and bare steel replacement of main and services, corrosion mediation, and station upgrades. Load growth and other reflects growth in existing service territories including new developments, installation of services, and expansion.

For the water distribution business, basic business addresses daily operational needs including periodic meter replacement, water main relocation, facility maintenance, and tools. Aging infrastructure relates to reliability and the replacement of water mains, regulators, storage tanks, pumping stations, wellfields, reservoirs, and treatment facilities. Load growth and other reflects growth in our service territory, including improvements of acquisitions, installation of new services, and interconnections of systems.

Pending Acquisition of Torrington Water Company: On March 7, 2022, Aquarion and The Torrington Water Company (TWC) entered into a definitive agreement pursuant to which Aquarion would acquire all outstanding shares of TWC. TWC provides regulated water service to approximately 10,100 customers in Connecticut. The acquisition will be structured as a stock-for-stock exchange and Eversource will issue between 885,000 and 925,000 common shares at closing. The transaction requires approval from the PURA and is expected to close by the end of 2022.

Offshore Wind Business:

Strategic Review of Offshore Wind Investments: On May 4, 2022, we announced that we have initiated a strategic review of our offshore wind investment portfolio. As part of that review, we will explore strategic alternatives that could result in a potential sale of all, or part, of our 50 percent interest in our offshore wind partnership with Ørsted. We expect to complete this review during 2022. If the recommended path forward following the strategic review is a sale of all, or part, of our interest in the partnership, we expect potential proceeds from such transaction would likely be used to support our regulated investments in strengthening, modernizing and decarbonizing our regulated energy and water delivery systems. As the strategic review proceeds, we remain committed to continue providing oversight of the siting and construction of onshore elements of our South Fork Wind, Revolution Wind and Sunrise Wind offshore wind projects.

Our offshore wind business includes a 50 percent ownership interest in North East Offshore, which holds PPAs and contracts for the Revolution Wind, South Fork Wind and Sunrise Wind projects, as well as undeveloped offshore lease area. Our offshore wind projects are being developed and constructed through a joint and equal partnership with Ørsted.

The offshore leases include a 257 square-mile ocean lease off the coasts of Massachusetts and Rhode Island and a separate, adjacent 300-square-mile ocean lease located approximately 25 miles south of the coast of Massachusetts. In aggregate, these ocean lease sites jointly-owned by Eversource and Ørsted could eventually develop at least 4,000 MW of clean, renewable offshore wind energy.

As of March 31, 2022 and December 31, 2021, Eversource's total equity investment balance in its offshore wind business was $1.33 billion and $1.21 billion, respectively. This equity investment includes capital expenditures for the three projects, as well as capitalized costs related to future development, acquisition costs of offshore lease areas, and capitalized interest.

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Contracts, Permitting and Construction of Offshore Wind Projects: The following table provides a summary of the Eversource and Ørsted major projects with announced contracts:

Wind Project	State Servicing	Size (MW)	Term (Years)	Price per MWh	Pricing Terms	Contract Status
Revolution Wind	Rhode Island	400	20	$98.43	Fixed price contract; no price escalation	Approved
Revolution Wind	Connecticut	304	20	$98.43 - $99.50	Fixed price contracts; no price escalation	Approved
South Fork Wind	New York (LIPA)	90	20	$160.33	2 percent average price escalation	Approved
South Fork Wind	New York (LIPA)	40	20	$86.25	2 percent average price escalation	Approved
Sunrise Wind	New York (NYSERDA)	924	25	$110.37 (1)	Fixed price contract; no price escalation	Approved

(1)    Index Offshore Wind Renewable Energy Certificate (OREC) strike price.

Our offshore wind projects are subject to receipt of federal, state and local approvals necessary to construct and operate the projects. The federal permitting process is led by BOEM, and state approvals are required from New York, Rhode Island and Massachusetts. Significant delays in the siting and permitting process resulting from the timeline for obtaining approval from BOEM and the state and local agencies could adversely impact the timing of these projects' in-service dates.

Federal Siting and Permitting Process: The federal siting and permitting process for each of our offshore wind projects commence with the filing of a Construction and Operations Plan (COP) application with BOEM. The first major milestone in the BOEM review process is an issuance of a Notice of Intent (NOI) to complete an Environmental Impact Statement (EIS). BOEM then provides a final review schedule for the project’s COP approval. BOEM conducts environmental and technical reviews of the COP. The EIS assesses the environmental, social, and economic impacts of constructing the project and recommends measures to minimize impacts. The Final EIS will inform BOEM in deciding whether to approve the project or to approve with modifications and BOEM will then issue its Record of Decision. BOEM issues its final approval of the COP following the Record of Decision.

Revolution Wind and Sunrise Wind filed their COP applications with BOEM in March 2020 and September 2020, respectively. On April 30, 2021, Revolution Wind received BOEM’s NOI to prepare an EIS for the review of the COP submitted by Revolution Wind. For Revolution Wind, a final EIS is expected in the first quarter of 2023, the Record of Decision in the second quarter of 2023, and final approval is expected in the third quarter of 2023. On August 31, 2021, Sunrise Wind received BOEM’s NOI to prepare an EIS for the review of the COP. For Sunrise Wind, a final EIS and Record of Decision are expected in the third quarter of 2023, and final approval is expected in the fourth quarter of 2023.

South Fork Wind, Revolution Wind and Sunrise Wind are each designated as a “Covered Project” pursuant to Title 41 of the Fixing America’s Surface Transportation Act (FAST41) and a Major Infrastructure Project under Section 3(e) of Executive Order 13807, which provides greater federal attention on meeting the projects’ permitting timelines.

State and Local Siting and Permitting Process: State permitting applications in Rhode Island for Revolution Wind and in New York for Sunrise Wind were filed in December 2020. The Revolution Wind state siting application was deemed complete on January 22, 2021, and the preliminary hearing was completed on March 22, 2021. On April 26, 2021, the Rhode Island Energy Facilities Siting Board issued a Preliminary Decision and Order on scheduling with Advisory Opinions for local and state agencies. All advisory opinions were received in August, in accordance with the expedited schedule, and evidentiary hearings began in October 2021 and are ongoing. The Sunrise Wind state siting application was deemed complete on July 1, 2021, initiating the formal review process, and Sunrise Wind filed a formal notice of intent to commence settlement negotiations towards a Joint Proposal on August 31, 2021. Settlement negotiations are ongoing.

Construction Process - South Fork Wind: South Fork Wind received all required approvals to start construction and the project entered the construction phase in early 2022. Site preparation and onshore activities for the project’s underground onshore transmission line and construction of the onshore interconnection facility located in East Hampton, New York are underway. Offshore installation, including the project’s monopile foundations, 11-megawatt wind turbines, and offshore substation, is expected to occur in 2023. Construction-related purchase agreements with third-party contractors and materials contracts have largely been secured. South Fork Wind faces several challenges and appeals of New York State and federal agency approvals, however it believes it is probable it will be able to overcome these challenges.

Projected In-Service Dates: We expect the South Fork Wind project to be in-service by the end of 2023. For Revolution Wind and Sunrise Wind, based on the BOEM permit schedule included in each respective NOI outlining when BOEM will complete its review of the COP, we currently expect in-service dates in 2025 for both projects.

Projected Investments: For Revolution Wind and Sunrise Wind, we are preparing our final project designs and advancing the appropriate federal, state, and local siting and permitting processes along with our offshore wind partner, Ørsted. Construction of South Fork Wind is underway. Construction-related purchase agreements with third-party contractors and materials contracts are approximately 80 percent secured. Subject to advancing our final project designs and federal, state and local permitting processes and construction schedules, we currently expect to make investments in our offshore wind business between $0.9 billion and $1.0 billion in 2022 and expect to make investments for our three projects in total between $3.0 billion and $3.6 billion from 2023 through 2026. These estimates assume that the three projects are completed and are in-service by the end of 2025, as planned. These projected investments could be impacted by the strategic review of our offshore wind investment portfolio discussed above.

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FERC Regulatory Matters

FERC ROE Complaints: Four separate complaints were filed at the FERC by combinations of New England state attorneys general, state regulatory commissions, consumer advocates, consumer groups, municipal parties and other parties (collectively, the Complainants). In each of the first three complaints, filed on October 1, 2011, December 27, 2012, and July 31, 2014, respectively, the Complainants challenged the NETOs' base ROE of 11.14 percent that had been utilized since 2005 and sought an order to reduce it prospectively from the date of the final FERC order and for the separate 15-month complaint periods. In the fourth complaint, filed April 29, 2016, the Complainants challenged the NETOs' base ROE billed of 10.57 percent and the maximum ROE for transmission incentive (incentive cap) of 11.74 percent, asserting that these ROEs were unjust and unreasonable.

The ROE originally billed during the period October 1, 2011 (beginning of the first complaint period) through October 15, 2014 consisted of a base ROE of 11.14 percent and incentives up to 13.1 percent. On October 16, 2014, the FERC set the base ROE at 10.57 percent and the incentive cap at 11.74 percent for the first complaint period. This was also effective for all prospective billings to customers beginning October 16, 2014. This FERC order was vacated on April 14, 2017 by the U.S. Court of Appeals for the D.C. Circuit (the Court).

All amounts associated with the first complaint period have been refunded. Eversource has recorded a reserve of $39.1 million (pre-tax and excluding interest) for the second complaint period as of both March 31, 2022 and December 31, 2021. This reserve represents the difference between the billed rates during the second complaint period and a 10.57 percent base ROE and 11.74 percent incentive cap. The reserve consisted of $21.4 million for CL&P, $14.6 million for NSTAR Electric and $3.1 million for PSNH as of both March 31, 2022 and December 31, 2021.

On October 16, 2018, FERC issued an order on all four complaints describing how it intends to address the issues that were remanded by the Court. FERC proposed a new framework to determine (1) whether an existing ROE is unjust and unreasonable and, if so, (2) how to calculate a replacement ROE. Initial briefs were filed by the NETOs, Complainants and FERC Trial Staff on January 11, 2019 and reply briefs were filed on March 8, 2019. The NETOs' brief was supportive of the overall ROE methodology determined in the October 16, 2018 order provided the FERC does not change the proposed methodology or alter its implementation in a manner that has a material impact on the results.

The FERC order included illustrative calculations for the first complaint using FERC's proposed frameworks with financial data from that complaint. Those illustrative calculations indicated that for the first complaint period, for the NETOs, which FERC concludes are of average financial risk, the preliminary just and reasonable base ROE is 10.41 percent and the preliminary incentive cap on total ROE is 13.08 percent.

If the results of the illustrative calculations were included in a final FERC order for each of the complaint periods, then a 10.41 percent base ROE and a 13.08 percent incentive cap would not have a significant impact on our financial statements for all of the complaint periods. These preliminary calculations are not binding and do not represent what we believe to be the most likely outcome of a final FERC order.

On November 21, 2019, FERC issued Opinion No. 569 affecting the two pending transmission ROE complaints against the Midcontinent ISO (MISO) transmission owners, in which FERC adopted a new methodology for determining base ROEs. Various parties sought rehearing. On December 23, 2019, the NETOs filed supplementary materials in the NETOs' four pending cases to respond to this new methodology because of the uncertainty of the applicability to the NETOs' cases.

On May 21, 2020, the FERC issued its order in Opinion No. 569-A on the rehearing of the MISO transmission owners' cases, in which FERC again changed its methodology for determining the MISO transmission owners' base ROEs. On November 19, 2020, the FERC issued Opinion No. 569-B denying rehearing of Opinion No. 569-A and reaffirmed the methodology previously adopted in Opinion No. 569-A. The new methodology differs significantly from the methodology proposed by FERC in its October 16, 2018 order to determine the NETOs' base ROEs in its four pending cases. FERC Opinion Nos 569-A and 569-B are currently under appeal with the Court.

Given the significant uncertainty regarding the applicability of the FERC opinions in the MISO transmission owners' two complaint cases to the NETOs' pending four complaint cases, Eversource concluded that there is no reasonable basis for a change to the reserve or recognized ROEs for any of the complaint periods at this time. As well, Eversource cannot reasonably estimate a range of loss for any of the four complaint proceedings at this time.

Eversource, CL&P, NSTAR Electric and PSNH currently record revenues at the 10.57 percent base ROE and incentive cap at 11.74 percent established in the October 16, 2014 FERC order.

A change of 10 basis points to the base ROE used to establish the reserves would impact Eversource's after-tax earnings by an average of approximately $3 million for each of the four 15-month complaint periods. Prospectively from the date of a final FERC order implementing a new base ROE, based off of estimated 2021 rate base, a change of 10 basis points to the base ROE would impact Eversource’s future annual after-tax earnings by approximately $5 million per year, and will increase slightly over time as we continue to invest in our transmission infrastructure.

FERC Notice of Inquiry on ROE: On March 21, 2019, FERC issued a Notice of Inquiry (NOI) seeking comments from all stakeholders on FERC's policies for evaluating ROEs for electric public utilities, and interstate natural gas and oil pipelines. On June 26, 2019, the NETOs jointly filed comments supporting the methodology established in the FERC’s October 16, 2018 order with minor enhancements going forward. The NETOs jointly filed reply comments in the FERC ROE NOI on July 26, 2019. On May 12, 2020, the NETOs filed supplemental comments in the NOI ROE docket. At this time, Eversource cannot predict how this proceeding will affect its transmission ROEs.

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FERC Notice of Inquiry and Proposed Rulemaking on Transmission Incentives: On March 21, 2019, FERC issued an NOI seeking comments on FERC's policies for implementing electric transmission incentives. On June 26, 2019, Eversource filed comments requesting that FERC retain policies that have been effective in encouraging new transmission investment and remain flexible enough to attract investment in new and emerging transmission technologies. Eversource filed reply comments on August 26, 2019. On March 20, 2020, FERC issued a Notice of Proposed Rulemaking (NOPR) on transmission incentives. The NOPR intends to revise FERC’s electric transmission incentive policies to reflect competing uses of transmission due to generation resource mix, technological innovation and shifts in load patterns. FERC proposes to grant transmission incentives based on measurable project economics and reliability benefits to consumers rather than its current project risks and challenges framework. On July 1, 2020, Eversource filed comments generally supporting the NOPR.

On April 15, 2021, FERC issued a Supplemental NOPR that proposes to eliminate the existing 50 basis point return on equity for utilities that have been participating in a regional transmission organization (RTO ROE incentive) for more than three years. On June 25, 2021, the NETOs jointly filed comments strongly opposing the Commission’s proposal. On July 26, 2021, the NETOs filed Supplemental NOPR reply comments responding to various parties advocating for the elimination of the RTO Adder. If the FERC issues a final order eliminating the RTO ROE incentive as proposed in the Supplemental NOPR, the estimated annual impact (using 2021 estimated rate base) on Eversource's after-tax earnings is approximately $17 million. The Supplemental NOPR contemplates an effective date 30 days from the final order.

At this time, Eversource cannot predict the ultimate outcome of these proceedings, including possible appellate review, and the resulting impact on its transmission incentives.

Regulatory Developments and Rate Matters

Electric, Natural Gas and Water Utility Base Distribution Rates: The regulated companies’ distribution rates are set by their respective state regulatory commissions, and their tariffs include mechanisms for periodically adjusting their rates for the recovery of specific incurred costs. Other than as described below, for the first quarter of 2022, changes made to the regulated companies’ rates did not have a material impact on their earnings, financial position, or cash flows.  For further information, see "Financial Condition and Business Analysis – Regulatory Developments and Rate Matters" included in Item 7, "Management’s Discussion and Analysis of Financial Condition and Results of Operations," of the Eversource 2021 Form 10-K.

Connecticut:

CL&P Advanced Metering Infrastructure Filing: On July 31, 2020, CL&P submitted to PURA its proposed $512 million Advanced Metering Infrastructure investment and implementation plan. On August 17, 2021, PURA issued a Notice of Request for Amended EDC Advanced Metering Infrastructure Proposal. CL&P submitted an Amended Proposal in response to this request on November 8, 2021 with an updated schedule for the years 2022 through 2028, which included additional information as required by the PURA. As required, the plan includes a full deployment of advanced metering functionality and a composite business case in support of the Advanced Metering Infrastructure plan. The procedural schedule includes briefs that were filed on April 29, 2022.

Yankee Gas System Expansion Plan Order: In September 2021, PURA undertook a review of Connecticut natural gas companies’ infrastructure system expansion plan (SEP) to determine if the SEP continues to be in the best interest of the state’s comprehensive energy strategy. On April 27, 2022, PURA issued an order for the immediate winding down of the SEP by (1) ending the enrollment of new customers in the SEP program and permitting only a specific group of potential customers who have executed a services agreement with a natural gas company on or before a specified date to qualify for incentives under the current SEP; (2) directing all surplus non-firm margin to be deferred as a regulatory liability and applied to rate base in a future rate proceeding; and (3) directing the natural gas companies to cease all outbound and passive marketing regarding the SEP. Eversource is currently evaluating the prospective impact of this proceeding, however, does not believe the impact will be material to its future financial position, results of operations and cash flows.

Massachusetts:

NSTAR Electric Distribution Rates: As part of an inflation-based mechanism, NSTAR Electric submitted its fourth annual Performance Based Rate Adjustment filing on November 10, 2021 and on December 22, 2021, the DPU approved a $36.8 million increase to base distribution rates effective January 1, 2022.

NSTAR Electric Distribution Rate Case: On January 14, 2022, NSTAR Electric filed an application with the DPU for approval of an $89 million increase in base distribution rates, with new rates anticipated to be effective January 1, 2023. On April 22, 2022, NSTAR Electric updated its requested increase to $88 million. As part of this filing, NSTAR Electric is requesting a renewal of the performance-based ratemaking plan originally authorized in its last rate case for up to a ten-year term, alignment with state electrification policy, storm fund refinements, and Advanced Metering Infrastructure tariff approval. A final decision from the DPU is expected on December 1, 2022.

NSTAR Electric Grid Modernization and Advanced Metering Infrastructure Filing: On July 1, 2021, NSTAR Electric submitted for DPU approval its four-year $198.8 million grid modernization plan for the years 2022 through 2025 and proposed $620 million Advanced Metering Infrastructure investment and implementation plan (including program operating costs) for the years 2022 through 2028. As required, the plan includes a ten-year vision, five-year strategic plan, including a full deployment of advanced metering functionality, separate four-year grid-facing and customer-facing short-term investment plans, and a composite business case in support of the Advanced Metering Infrastructure plan. NSTAR Electric expects DPU guidance for all investments by the fourth quarter of 2022. For Advanced Metering Infrastructure investments, additional review of the cost recovery mechanism will be conducted in NSTAR Electric’s base distribution rate case that was filed on January 14, 2022 with a decision expected on December 1, 2022. Reply briefs are due to be filed by NSTAR Electric on June 27, 2022.

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New Hampshire:

Energy Efficiency Plan: On November 12, 2021, the NHPUC issued an order rejecting the proposed 2021 through 2023 energy efficiency plan and significantly reduced funding and operational functions of the program. The order eliminated the recovery of performance incentives and made other key changes to the energy efficiency plan beginning in 2022. PSNH sought a rehearing of the order and was denied, which resulted in PSNH filing a formal appeal to the New Hampshire Supreme Court.

On February 10, 2022, the NHPUC issued an order that restored the 2022 energy efficiency rate to be consistent with the 2021 rate, which PSNH implemented effective March 1, 2022. On February 24, 2022, state legislation was signed into law that undid the most impactful effects of the November 12, 2021 NHPUC order. The legislation directed that the joint utility energy efficiency plan and programming framework in effect on January 1, 2021 be utilized going forward, including utility performance incentive payments, lost base revenue calculations, and Evaluation, Measurement, and Verification process. Additionally, the legislation established a process for future plan proposals, including the 2024 through 2026 triennial plan, and includes a mechanism for future rate increases based on the consumer price index. As a result of the new legislation passed specific to this order, PSNH withdrew its appeal to the New Hampshire Supreme Court. PSNH made the required filing for the remainder of the 2022 through 2023 triennial plan on March 1, 2022, which was approved as filed by the NHPUC on April 29, 2022.

Critical Accounting Policies

The preparation of financial statements in conformity with GAAP requires management to make estimates, assumptions and, at times, difficult, subjective or complex judgments.  Changes in these estimates, assumptions and judgments, in and of themselves, could materially impact our financial position, results of operations or cash flows.  Our management discusses with the Audit Committee of our Board of Trustees significant matters relating to critical accounting policies.  Our critical accounting policies that we believed were the most critical in nature were reported in the Eversource 2021 Form 10-K.  There have been no material changes with regard to these critical accounting policies.

Other Matters

Web Site:  Additional financial information is available through our website at www.eversource.com.  We make available through our website a link to the SEC's EDGAR website (http://www.sec.gov/edgar/searchedgar/companysearch.html), at which site Eversource's, CL&P's, NSTAR Electric's and PSNH's combined Annual Reports on Form 10-K, combined Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and any amendments to those reports may be reviewed.  Information contained on the Company's website or that can be accessed through the website is not incorporated into and does not constitute a part of this combined Quarterly Report on Form 10-Q.

RESULTS OF OPERATIONS – EVERSOURCE ENERGY AND SUBSIDIARIES

The following provides the amounts and variances in operating revenues and expense line items in the statements of income for Eversource for the three months ended March 31, 2022 and 2021 included in this combined Quarterly Report on Form 10-Q:  

	For the Three Months Ended March 31,
(Millions of Dollars)	2022		2021		Increase/ (Decrease)
Operating Revenues	$	3,471.3	$	2,825.8	$	645.5
Operating Expenses:
Purchased Power, Fuel and Transmission	1,389.7		998.5		391.2
Operations and Maintenance	472.4		465.5		6.9
Depreciation	289.3		270.7		18.6
Amortization	236.9		108.0		128.9
Energy Efficiency Programs	199.5		188.1		11.4
Taxes Other Than Income Taxes	220.4		209.4		11.0
Total Operating Expenses	2,808.2		2,240.2		568.0
Operating Income	663.1		585.6		77.5
Interest Expense	153.3		137.8		15.5
Other Income, Net	71.6		34.2		37.4
Income Before Income Tax Expense	581.4		482.0		99.4
Income Tax Expense	136.1		114.0		22.1
Net Income	445.3		368.0		77.3
Net Income Attributable to Noncontrolling Interests	1.9		1.9		—
Net Income Attributable to Common Shareholders	$	443.4	$	366.1	$	77.3

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Operating Revenues

Sales Volumes: A summary of our retail electric GWh sales volumes, our firm natural gas MMcf sales volumes, and our water MG sales volumes, and percentage changes, is as follows: 

	Electric				Firm Natural Gas				Water
	Sales Volumes (GWh)		Percentage Increase		Sales Volumes (MMcf)		Percentage Increase		Sales Volumes (MG)		Percentage Increase/(Decrease)
Three Months Ended March 31:	2022	2021			2022	2021			2022	2021
Traditional	1,992	1,951	2.1	%	—	—	—	%	324	258	25.6	%
Decoupled and Special Contracts (1)	10,973	10,732	2.2	%	68,518	66,002	3.8	%	4,342	4,478	(3.0)	%
Total Sales Volumes	12,965	12,683	2.2	%	68,518	66,002	3.8	%	4,666	4,736	(1.5)	%

(1)    Special contracts are unique to Yankee Gas natural gas distribution customers who take service under such an arrangement and generally specify the amount of distribution revenue to be paid to Yankee Gas regardless of the customers' usage.

Weather, fluctuations in energy supply costs, conservation measures (including utility-sponsored energy efficiency programs), and economic conditions affect customer energy usage and water consumption.  Industrial sales volumes are less sensitive to temperature variations than residential and commercial sales volumes.  In our service territories, weather impacts both electric and water sales volumes during the summer and both electric and natural gas sales volumes during the winter; however, natural gas sales volumes are more sensitive to temperature variations than electric sales volumes.  Customer heating or cooling usage may not directly correlate with historical levels or with the level of degree-days that occur.

Fluctuations in retail electric sales volumes at PSNH impact earnings ("Traditional" in the table above).  For CL&P, NSTAR Electric, NSTAR Gas, EGMA, Yankee Gas, and our Connecticut water distribution business, fluctuations in retail sales volumes do not materially impact earnings due to their respective regulatory commission-approved distribution revenue decoupling mechanisms ("Decoupled" in the table above).  These distribution revenues are decoupled from their customer sales volumes, which breaks the relationship between sales volumes and revenues recognized.

Operating Revenues: Operating Revenues by segment increased for the three months ended March 31, 2022, as compared to the same period in 2021, as follows:

(Millions of Dollars)	Three Months Ended
Electric Distribution	$	486.0
Natural Gas Distribution	147.1
Electric Transmission	34.6
Water Distribution	2.1
Other	40.5
Eliminations	(64.8)
Total Operating Revenues	$	645.5

Electric and Natural Gas (excluding EGMA) Distribution Revenues:

Base Distribution Revenues:

•Base electric distribution revenues increased $9.7 million for the three months ended March 31, 2022, as compared to the same period in 2021, due primarily to the impact of base distribution rate increases at NSTAR Electric effective January 1, 2022 resulting from its annual Performance Based Rate Adjustment filing, and at PSNH effective August 1, 2021 to reflect plant additions in calendar year 2020 included in its revenue requirement.

•Base natural gas distribution revenues (excluding EGMA) increased $9.7 million for the three months ended March 31, 2022, as compared to the same period in 2021, due primarily to a base distribution rate increase at NSTAR Gas effective November 1, 2021.

Tracked Distribution Revenues: Tracked distribution revenues consist of certain costs that are recovered from customers in retail rates through regulatory commission-approved cost tracking mechanisms and therefore, recovery of these costs has no impact on earnings.  Revenues from certain of these cost tracking mechanisms also include certain incentives earned, return on capital tracking mechanisms, and carrying charges that are billed in rates to customers, which do impact earnings. Costs recovered through cost tracking mechanisms include, among others, energy supply and natural gas supply procurement and other energy-related costs, electric retail transmission charges, energy efficiency program costs, electric restructuring and stranded cost recovery revenues (including securitized RRB charges), certain capital tracking mechanisms for infrastructure improvements, and additionally for the Massachusetts utilities, pension and PBOP benefits, net metering for distributed generation, and solar-related programs. Tracked revenues also include wholesale market sales transactions, such as sales of energy and energy-related products into the ISO-NE wholesale electricity market, sales of natural gas to third party marketers, and the sale of RECs to various counterparties.

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Tracked distribution revenues increased/(decreased) for the three months ended March 31, 2022, as compared to the same period in 2021, due primarily to the following:

	Three Months Ended
(Millions of Dollars)	Electric Distribution		Natural Gas Distribution
Retail Tariff Tracked Revenues:
Energy supply procurement	$	165.0	$	42.1
Retail transmission	97.7		—
Other distribution tracking mechanisms	(3.9)		0.4
Wholesale Market Sales Revenue	216.4		2.5

The increase in energy supply procurement within both electric distribution and natural gas distribution for the three months ended March 31, 2022, as compared to the same period in 2021, was driven primarily by higher average prices and higher average supply-related sales volumes.

Fluctuations in retail transmission revenues are driven by the recovery of the costs of our wholesale transmission business, such as those billed by ISO-NE and Local and Regional Network Service charges. For further information, see "Purchased Power, Fuel and Transmission Expense" below.

The increase in electric distribution wholesale market sales revenue was due primarily to higher average electricity market prices received for wholesale sales at CL&P, NSTAR Electric and PSNH for the three months ended March 31, 2022, as compared to the same period in 2021. ISO-NE average market prices received for CL&P’s wholesale sales increased approximately 117 percent for the three months ended March 31, 2022, as compared to the same period in 2021, driven primarily by higher natural gas prices in New England. The increase was also due to higher wholesale sales at CL&P resulting from the sale of output generated by the Seabrook PPA beginning in the first quarter of 2022. Volumes sold into the market were primarily from the sale of output generated by the Millstone PPA and Seabrook PPA that CL&P entered into in 2019, as required by regulation. CL&P sells the energy purchased from Millstone and Seabrook into the wholesale market and uses the proceeds from the energy sales to offset the contract costs. The net sales or net cost amount is refunded to, or recovered from, customers in the FMCC rate.

The increase in electric distribution wholesale market sales revenues was also driven by higher proceeds from a one-year sale of transmission rights, effective June 2021, under CL&P’s, NSTAR Electric’s and PSNH’s Hydro-Quebec transmission support agreements. Proceeds from these sales are credited back to customers.

EGMA Natural Gas Distribution Revenues: EGMA total operating revenues at the natural gas distribution segment increased by $91.6 million for the three months ended March 31, 2022, as compared to the same period in 2021. Included in the total operating revenues increase was EGMA’s base natural gas distribution revenues increase of $20.9 million due primarily to a base distribution rate increase effective November 1, 2021.

Electric Transmission Revenues:  Electric transmission revenues increased $34.6 million for the three months ended March 31, 2022, as compared to the same period in 2021, due primarily to a higher transmission rate base as a result of our continued investment in our transmission infrastructure.

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 primarily 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, Fuel and Transmission expense includes costs associated with purchasing electricity and natural gas on behalf of our customers and the cost of energy purchase contracts, as required by regulation.  These electric and natural gas supply costs and other energy-related costs are recovered from customers in rates through commission-approved cost tracking mechanisms, which have no impact on earnings (tracked costs).  Purchased Power, Fuel and Transmission expense increased for the three months ended March 31, 2022, as compared to the same period in 2021, due primarily to the following:

(Millions of Dollars)	Three Months Ended
Purchased Power Costs	$	221.0
Natural Gas Costs	95.9
Transmission Costs	100.4
Eliminations	(26.1)
Total Purchased Power, Fuel and Transmission	$	391.2

The increase in purchased power expense at the electric distribution business for the three months ended March 31, 2022, as compared to the same period in 2021, was driven primarily by higher expense related to the procurement of energy supply resulting from higher average prices and higher average supply-related sales volumes, higher long-term contractual energy-related costs that are recovered in the non-bypassable component of the FMCC mechanism at CL&P, and higher net metering costs at NSTAR Electric.

The increase in costs at the natural gas distribution segment for the three months ended March 31, 2022, as compared to the same period in 2021, was due primarily to higher average prices and higher average supply-related sales volumes. The increase in transmission costs for the three months ended March 31, 2022, as compared to the same period in 2021, was primarily the result of an increase in costs billed by ISO-NE that

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support regional grid investments and an increase resulting from the retail transmission cost deferral, which reflects the actual costs of transmission service compared to estimated amounts billed to customers. This was partially offset by a decrease in Local Network Service charges, which reflects the cost of transmission service provided by Eversource over our local transmission network.

Operations and Maintenance expense includes tracked costs and costs that are part of base electric, natural gas and water distribution rates with changes impacting earnings (non-tracked costs).  Operations and Maintenance expense increased for the three months ended March 31, 2022, as compared to the same period in 2021, due primarily to the following:

(Millions of Dollars)	Three Months Ended
Base Electric Distribution (Non-Tracked Costs):
Absence in 2022 of CL&P charge for Tropical Storm Isaias response in 2021	$	(30.0)
Employee-related expenses, including labor and benefits	(6.5)
Funding of CL&P storm reserve as part of June 1, 2021 rate change (offset by lower   Amortization expense)	6.0
Storm costs	8.0
Operations-related expenses, including vehicles, vegetation management and outside services	(9.3)
Other non-tracked operations and maintenance	12.1
Total Base Electric Distribution (Non-Tracked Costs)	(19.7)
Tracked Electric Costs (Electric Distribution and Electric Transmission)	19.4
Natural Gas Distribution	11.0
Water Distribution	1.6
Parent and Other Companies and eliminations:
Eversource Parent and Other Companies - other operations and maintenance	33.2
Acquisition and Transition Costs	(1.3)
Eliminations	(37.3)
Total Operations and Maintenance	$	6.9

Depreciation expense increased for the three months ended March 31, 2022, as compared to the same period in 2021, due to higher utility plant in service balances.

Amortization expense includes the deferral of energy supply, energy-related costs and other costs that are included in certain regulatory commission-approved cost tracking mechanisms. This deferral adjusts expense to match the corresponding revenues compared to the actual costs incurred. Energy supply and energy-related costs are recovered from customers in rates and have no impact on earnings. Amortization expense also includes the amortization of certain costs as those costs are collected in rates.

Amortization increased for the three months ended March 31, 2022, as compared to the same period in 2021, due primarily to the deferral adjustment of energy supply, energy-related and other tracked costs that are included in the non-bypassable component of the FMCC mechanism at CL&P, which can fluctuate from period to period based on the timing of costs incurred and related rate changes to recover these costs. The increase was partially offset by a decrease in storm amortization expense at CL&P related to the completion of the amortization period of certain storm costs deferred assets.

Energy Efficiency Programs expense increased for the three months ended March 31, 2022, as compared to the same period in 2021, due primarily to the deferral adjustment, which reflects the actual costs of energy efficiency programs compared to the amounts billed to customers, and the timing of the recovery of energy efficiency costs. The costs for the majority of the state energy policy initiatives and expanded energy efficiency programs are recovered from customers in rates and have no impact on earnings.

Taxes Other Than Income Taxes expense increased for the three months ended March 31, 2022, as compared to the same period in 2021, due primarily to an increase in property taxes as a result of higher utility plant balances.

Interest Expense increased for the three months ended March 31, 2022, as compared to the same period in 2021, due primarily to an increase in interest on long-term debt as a result of new debt issuances ($11.6 million), an increase in interest expense on regulatory deferrals ($4.4 million), and an increase in interest on notes payable ($0.2 million), partially offset by an increase in AFUDC related to debt funds and other capitalized interest ($1.0 million) and a decrease in RRB interest expense ($0.3 million).

Other Income, Net increased for the three months ended March 31, 2022, as compared to the same period in 2021, due primarily to an increase

related to pension, SERP and PBOP non-service income components ($34.2 million), an increase in interest income primarily from regulatory deferrals ($5.2 million), an increase in AFUDC related to equity funds ($0.7 million), and a decrease in investment losses ($0.4 million), partially offset by a decrease in equity in earnings related to Eversource's equity method investments ($3.3 million).

Income Tax Expense increased for the three months ended March 31, 2022, as compared to the same period in 2021, due primarily to higher pre-tax earnings ($20.9 million), higher state taxes ($7.3 million), and lower share-based payment excess tax benefits ($1.8 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 ($3.8 million), the absence in 2022 of a valuation allowance increase in 2021 ($1.7 million), and an increase in amortization of EDIT ($2.4 million).

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RESULTS OF OPERATIONS –

THE CONNECTICUT LIGHT AND POWER COMPANY

NSTAR ELECTRIC COMPANY AND SUBSIDIARY

PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE AND SUBSIDIARIES

The following provides the amounts and variances in operating revenues and expense line items in the statements of income for CL&P, NSTAR Electric and PSNH for the three months ended March 31, 2022 and 2021 included in this combined Quarterly Report on Form 10-Q:

	For the Three Months Ended March 31,
	CL&P						NSTAR Electric						PSNH
(Millions of Dollars)	2022		2021		Increase/ (Decrease)		2022		2021		Increase/ (Decrease)		2022		2021		Increase/ (Decrease)
Operating Revenues	$	1,285.8	$	987.3	$	298.5	$	863.2	$	737.0	$	126.2	$	339.4	$	293.4	$	46.0
Operating Expenses:
Purchased Power and Transmission	523.5		373.3		150.2		313.7		226.5		87.2		125.8		91.6		34.2
Operations and Maintenance	157.1		175.4		(18.3)		164.9		143.2		21.7		59.6		54.7		4.9
Depreciation	87.3		83.4		3.9		89.0		82.8		6.2		31.3		29.5		1.8
Amortization of Regulatory Assets, Net	169.7		62.8		106.9		29.3		18.4		10.9		26.8		18.5		8.3
Energy Efficiency Programs	35.4		35.6		(0.2)		80.3		75.1		5.2		8.7		10.3		(1.6)
Taxes Other Than Income Taxes	90.3		91.4		(1.1)		59.8		54.6		5.2		22.8		22.2		0.6
Total Operating Expenses	1,063.3		821.9		241.4		737.0		600.6		136.4		275.0		226.8		48.2
Operating Income	222.5		165.4		57.1		126.2		136.4		(10.2)		64.4		66.6		(2.2)
Interest Expense	40.6		39.0		1.6		38.2		32.3		5.9		13.6		14.6		(1.0)
Other Income, Net	19.6		4.9		14.7		29.2		16.8		12.4		7.5		4.2		3.3
Income Before Income Tax Expense	201.5		131.3		70.2		117.2		120.9		(3.7)		58.3		56.2		2.1
Income Tax Expense	48.5		32.9		15.6		24.5		27.0		(2.5)		12.7		11.5		1.2
Net Income	$	153.0	$	98.4	$	54.6	$	92.7	$	93.9	$	(1.2)	$	45.6	$	44.7	$	0.9

Operating Revenues

Sales Volumes: A summary of our retail electric GWh sales volumes is as follows:

	For the Three Months Ended March 31,
	2022	2021	Increase	Percentage Increase
CL&P	5,263	5,154	109	2.1	%
NSTAR Electric	5,710	5,578	132	2.4	%
PSNH	1,992	1,951	41	2.1	%

Fluctuations in retail electric sales volumes at PSNH impact earnings.  For CL&P and NSTAR Electric, fluctuations in retail electric sales volumes do not impact earnings due to their respective regulatory commission-approved distribution revenue decoupling mechanisms.

Operating Revenues: Operating Revenues, which consist of base distribution revenues and tracked revenues further described below, increased $298.5 million at CL&P, $126.2 million at NSTAR Electric, and $46.0 million at PSNH, for the three months ended March 31, 2022, as compared to the same period in 2021.

Base Distribution Revenues:

•CL&P's distribution revenues increased $0.3 million.

•NSTAR Electric's distribution revenues increased $6.2 million due primarily to the impact of its base distribution rate increase effective January 1, 2022 resulting from its annual Performance Based Rate Adjustment filing.

•PSNH's distribution revenues increased $3.2 million due primarily to the impact of its base distribution rate increase effective August 1, 2021 to reflect plant additions in calendar year 2020 included in its revenue requirement.

Tracked Revenues: Tracked distribution revenues consist of certain costs that are recovered from customers in retail rates through regulatory commission-approved cost tracking mechanisms and therefore, recovery of these costs has no impact on earnings.  Revenues from certain of these cost tracking mechanisms also include certain incentives earned, return on capital tracking mechanisms, and carrying charges that are billed in rates to customers, which do impact earnings. Costs recovered through cost tracking mechanisms include, among others, energy supply procurement and other energy-related costs, retail transmission charges, energy efficiency program costs, electric restructuring and stranded cost recovery revenues (including securitized RRB charges), certain capital tracking mechanisms for infrastructure improvements, and additionally for NSTAR Electric, pension and PBOP benefits, net metering for distributed generation, and solar-related programs. Tracked revenues also include wholesale market sales transactions, such as sales of energy and energy-related products into the ISO-NE wholesale electricity market and the sale of RECs to various counterparties.

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Tracked revenues increased/(decreased) for the three months ended March 31, 2022, as compared to the same period in 2021, due primarily to the following:

(Millions of Dollars)	CL&P		NSTAR Electric		PSNH
Retail Tariff Tracked Revenues:
Energy supply procurement	$	104.8	$	16.3	$	43.9
Retail transmission	28.7		66.4		2.6
Other distribution tracking mechanisms	2.5		7.8		(14.2)
Wholesale Market Sales Revenue	170.2		33.5		12.7

The increase in energy supply procurement at CL&P and PSNH was driven primarily by higher average prices and higher average supply-related sales volumes. The increase in energy supply procurement at NSTAR Electric was driven primarily by higher average prices, partially offset by lower average supply-related sales volumes. Fluctuations in retail transmission revenues are driven by the recovery of the costs of our wholesale transmission business, such as those billed by ISO-NE and Local and Regional Network Service charges. For further information, see "Purchased Power and Transmission Expense" below.

The increase in wholesale market sales revenue was due primarily to higher average electricity market prices received for wholesale sales at CL&P, NSTAR Electric and PSNH for the three months ended March 31, 2022, as compared to the same period in 2021. ISO-NE average market prices received for CL&P’s wholesale sales increased approximately 117 percent for the three months ended March 31, 2022, as compared to the same period in 2021, driven primarily by higher natural gas prices in New England. The increase was also due to higher wholesale sales at CL&P resulting from the sale of output generated by the Seabrook PPA beginning in the first quarter of 2022. Volumes sold into the market were primarily from the sale of output generated by the Millstone PPA and Seabrook PPA that CL&P entered into in 2019, as required by regulation. CL&P sells the energy purchased from Millstone and Seabrook into the wholesale market and uses the proceeds from the energy sales to offset the contract costs. The net sales or net cost amount is refunded to, or recovered from, customers in the FMCC rate.

The increase in wholesale market sales revenues at CL&P, NSTAR Electric and PSNH was also driven by higher proceeds from a one-year sale of transmission rights, effective June 2021, under CL&P’s, NSTAR Electric’s and PSNH’s Hydro-Quebec transmission support agreements. Proceeds from these sales are credited back to customers.

Transmission Revenues: Transmission revenues increased $13.4 million at CL&P, $13.8 million at NSTAR Electric, and $7.4 million at PSNH for the three months ended March 31, 2022, as compared to the same period in 2021, due primarily to a higher transmission rate base as a result of our continued investment in our transmission infrastructure.

Eliminations: Eliminations are primarily 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. The impact of eliminations decreased revenues by $21.2 million at CL&P, $18.9 million at NSTAR Electric and $10.0 million at PSNH for the three months ended March 31, 2022, as compared to the same period in 2021.

Purchased Power and Transmission expense includes costs associated with purchasing electricity on behalf of CL&P, NSTAR Electric and PSNH's customers and the cost of energy purchase contracts, as required by regulation.  These energy supply and other energy-related costs are recovered from customers in rates through commission-approved cost tracking mechanisms, which have no impact on earnings (tracked costs). Purchased Power and Transmission expense increased for the three months ended March 31, 2022, as compared to the same period in 2021, due primarily to the following:

(Millions of Dollars)	CL&P		NSTAR Electric		PSNH
Purchased Power Costs	$	141.3	$	39.6	$	40.1
Transmission Costs	29.8		66.5		4.1
Eliminations	(20.9)		(18.9)		(10.0)
Total Purchased Power and Transmission	$	150.2	$	87.2	$	34.2

Purchased Power Costs: Included in purchased power costs are the costs associated with providing electric generation service supply to all customers who have not migrated to third party suppliers and the cost of energy purchase contracts, as required by regulation.

•The increase at CL&P was due primarily to higher expense related to the procurement of energy supply resulting from higher average prices and higher average supply-related volumes, and higher long-term contractual energy-related costs that are recovered in the non-bypassable component of the FMCC mechanism.

•The increase at NSTAR Electric was due primarily to higher net metering costs and higher expense related to the procurement of energy supply resulting from higher average prices, partially offset by lower average supply-related sales volumes.

•The increase at PSNH was due primarily to higher expense related to the procurement of energy supply resulting from higher average prices and higher average supply-related sales volumes, partially offset by lower stranded costs resulting from higher Regional Greenhouse Gas Initiative (RGGI) proceeds received, which are credited back to customers. The higher RGGI proceeds resulted from an increase in RGGI auction clearing prices for allowances in the three months ended March 31, 2022, as compared to the same period in 2021.

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Transmission Costs: Included in transmission costs are charges that recover the cost of transporting electricity over high-voltage lines from generation facilities to substations, including costs allocated by ISO-NE to maintain the wholesale electric market.

•The increase in transmission costs at CL&P and NSTAR Electric was due primarily to an increase in costs billed by ISO-NE that support regional grid investments and an increase resulting from the retail transmission cost deferral, which reflects the actual costs of transmission service compared to estimated amounts billed to customers. This was partially offset by a decrease in Local Network Service charges, which reflect the cost of transmission service provided by Eversource over our local transmission network.

•The increase in transmission costs at PSNH was due primarily to an increase in costs billed by ISO-NE that support regional grid investments, partially offset by a decrease resulting from the retail transmission cost deferral and a decrease in Local Network Service charges.

Operations and Maintenance expense includes tracked costs and costs that are part of base distribution rates with changes impacting earnings (non-tracked costs).  Operations and Maintenance expense (decreased)/increased for the three months ended March 31, 2022, as compared to the same period in 2021, due primarily to the following:

(Millions of Dollars)	CL&P		NSTAR Electric		PSNH
Base Electric Distribution (Non-Tracked Costs):
Absence in 2022 of CL&P charge for Tropical Storm Isaias response in 2021	$	(30.0)	$	—	$	—
Funding of CL&P storm reserve as part of June 1, 2021 rate change (offset by lower   Amortization expense)	6.0		—		—
Storm costs	0.9		4.2		2.9
Operations-related expenses, including employee-related costs, vehicles, vegetation management and outside services	(5.1)		(2.7)		0.6
Other non-tracked operations and maintenance	3.4		7.8		0.9
Total Base Electric Distribution (Non-Tracked Costs)	(24.8)		9.3		4.4
Tracked Costs:
Transmission expenses	3.2		3.7		1.2
Other tracked operations and maintenance	3.3		8.7		(0.7)
Total Tracked Costs	6.5		12.4		0.5
Total Operations and Maintenance	$	(18.3)	$	21.7	$	4.9

Depreciation increased for the three months ended March 31, 2022, as compared to the same period in 2021, for CL&P, NSTAR Electric and PSNH due to higher net plant in service balances.

Amortization of Regulatory Assets, Net expense includes the deferral of energy supply, energy-related costs and other costs that are included in certain regulatory-approved cost tracking mechanisms. This deferral adjusts expense to match the corresponding revenues compared to the actual costs incurred. Energy supply and energy-related costs are recovered from customers in rates and have no impact on earnings. Amortization expense also includes the amortization of certain costs as those costs are collected in rates. Amortization of Regulatory Assets, Net increased for the three months ended March 31, 2022, as compared to the same period in 2021, due primarily to the following:

•The increase at CL&P was due primarily to the deferral adjustment of energy supply, energy-related and other tracked costs that are included in the non-bypassable component of the FMCC mechanism, which can fluctuate from period to period based on the timing of costs incurred and related rate changes to recover these costs. The increase was partially offset by a decrease in storm amortization expense related to the completion of the amortization period of certain storm cost deferred assets.

•The increase at NSTAR Electric was due to the deferral adjustment of energy supply, energy-related costs and other tracked costs, which can fluctuate from period to period based on the timing of costs incurred and related rate changes to recover these costs.

•The increase at PSNH was due to the deferral adjustment of energy-related and other tracked costs, which can fluctuate from period to period based on the timing of costs incurred and related rate changes to recover these costs.

Energy Efficiency Programs expense includes costs of various state energy policy initiatives and expanded energy efficiency programs that are recovered from customers in rates, most of which have no impact on earnings. Energy Efficiency Programs expense increased/decreased for the three months ended March 31, 2022, as compared to the same period in 2021, due primarily to the following:

•The increase at NSTAR Electric was due to the deferral adjustment, which reflects actual costs of energy efficiency programs compared to the estimated amounts billed to customers, and the timing of the recovery of energy efficiency costs.

•The decrease at PSNH was due to the deferral adjustment, which reflects actual costs of energy efficiency programs compared to the estimated amounts billed to customers, and the timing of the recovery of energy efficiency costs.

Taxes Other Than Income Taxes increased/decreased for the three months ended March 31, 2022, as compared to the same period in 2021, due primarily to the following:

•The decrease at CL&P was related to lower gross earnings taxes partially offset by higher property taxes as a result of a higher utility plant balance.

•The increase at NSTAR Electric was due to higher property taxes as a result of higher utility plant balances.

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Interest Expense increased/decreased for the three months ended March 31, 2022, as compared to the same period in 2021, due primarily to the following:

•The increase at CL&P was due to higher interest on long-term debt ($0.9 million) and higher interest expense on regulatory deferrals ($0.9 million), partially offset by an increase in AFUDC related to debt funds ($0.2 million).

•The increase at NSTAR Electric was due to higher interest expense on regulatory deferrals ($3.3 million), higher interest on long-term debt ($1.6 million), and a decrease in AFUDC related to debt funds ($0.4 million).

•The decrease at PSNH was due to lower amortization of debt discounts and premiums, net ($0.8 million) and a decrease in RRB interest expense ($0.3 million).

Other Income, Net increased for the three months ended March 31, 2022, as compared to the same period in 2021, due primarily to the following:

•The increase at CL&P was due primarily to an increase related to pension, SERP and PBOP non-service income components ($13.2 million), an increase in interest income primarily on regulatory deferrals ($1.2 million), and an increase in AFUDC related to equity funds ($1.1 million), partially offset by investment losses in 2022 compared to investment income in 2021 driven by market volatility ($0.8 million).

•The increase at NSTAR Electric was due primarily to an increase related to pension, SERP and PBOP non-service income components ($10.9 million) and an increase in interest income primarily on regulatory deferrals ($3.4 million), partially offset by a decrease in AFUDC related to equity funds ($1.3 million) and investment losses in 2022 compared to investment income in 2021 driven by market volatility ($0.5 million).

•The increase at PSNH was due primarily to an increase related to pension, SERP and PBOP non-service income components ($3.9 million), partially offset by a decrease in interest income primarily on regulatory deferrals ($0.4 million) and a decrease in AFUDC related to equity funds ($0.2 million).

Income Tax Expense increased/decreased for the three months ended March 31, 2022, as compared to the same period in 2021, due primarily to the following:

•The increase at CL&P was due primarily to higher pre-tax earnings ($14.7 million) and higher state taxes ($3.8 million), partially offset by an increase in amortization of EDIT ($0.5 million), the absence in 2022 of a valuation allowance increase in 2021 ($1.7 million), and a decrease in items that impact our tax rate as a result of regulatory treatment (flow-through items) and permanent differences ($0.7 million).

•The decrease at NSTAR Electric was due primarily to a decrease in pre-tax earnings ($0.8 million), lower state taxes ($0.1 million), and an increase in amortization of EDIT ($3.3 million), partially offset by lower share-based payment excess tax benefits ($0.6 million) and an increase in items that impact our tax rate as a result of regulatory treatment (flow-through items) and permanent differences ($1.1 million).

•The increase at PSNH was due primarily to higher pre-tax earnings ($0.4 million), higher state taxes ($0.6 million), and a decrease in amortization of EDIT ($1.4 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 ($1.2 million).

EARNINGS SUMMARY

CL&P's earnings increased $54.6 million for the three months ended March 31, 2022, as compared to the same period in 2021, due primarily to the absence in 2022 of the $30.0 million pre-tax charge to earnings for the storm performance penalty imposed by PURA as a result of CL&P’s preparation for and response to Tropical Storm Isaias in August 2020 that was recorded in 2021. The after-tax impact of the storm performance penalty was $24.1 million. Earnings were also favorably impacted by higher earnings from its capital tracking mechanism due to increased electric system improvements, an increase in transmission earnings driven by a higher transmission rate base and lower pension plan expense. The earnings increase was partially offset by higher operations and maintenance expense, higher depreciation, higher property tax expense and higher interest expense.

NSTAR Electric's earnings decreased $1.2 million for the three months ended March 31, 2022, as compared to the same period in 2021, due primarily to higher operations and maintenance expense driven by higher storm costs, higher depreciation expense, and higher interest expense. The earnings decrease was partially offset by the base distribution rate increase effective January 1, 2022 and an increase in transmission earnings driven by a higher transmission rate base.

PSNH's earnings increased $0.9 million for the three months ended March 31, 2022, as compared to the same period in 2021, due primarily to an increase in transmission earnings driven by a higher transmission rate base, the base distribution rate increase effective August 1, 2021, and lower pension plan expense. The earnings increase was partially offset by the absence in 2022 of a favorable impact of a new tracker mechanism at PSNH approved as part of the 2020 rate settlement agreement that was recorded in 2021, higher operations and maintenance expense driven primarily by higher storm costs, and higher depreciation expense.

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LIQUIDITY

Cash Flows: CL&P had cash flows provided by operating activities of $135.3 million for the three months ended March 31, 2022, as compared to $156.2 million in the same period of 2021. The decrease in operating cash flows was due primarily to an increase in regulatory under-recoveries driven by the timing of collections for regulatory tracking mechanisms and an increase of $23.9 million in cash payments for storm costs, customer credits being distributed to CL&P’s customers in the first quarter of 2022 as a result of the October 2021 settlement agreement and the 2021 storm performance penalty for its response to Tropical Storm Isaias, the timing of cash collections on our accounts receivable, and the timing of other working capital items. These unfavorable impacts were partially offset by the timing of cash payments made on our accounts payable, the absence in 2022 of pension contributions of $18.9 million made in 2021, and a $14.5 million increase in income tax refunds received in 2022, as compared to 2021.

NSTAR Electric had cash flows provided by operating activities of $189.9 million for the three months ended March 31, 2022, as compared to $172.6 million in the same period of 2021. The increase in operating cash flows was due primarily to the timing of cash collections on our accounts receivable, a $12.4 million increase in income tax refunds received in 2022, as compared to 2021, and the timing of other working capital items. These favorable impacts were partially offset by the timing of cash payments made on our accounts payable, the timing of collections for regulatory tracking mechanisms, and $5.0 million of pension contributions made in 2022.

PSNH had cash flows provided by operating activities of $58.1 million for the three months ended March 31, 2022, as compared to $74.9 million in the same period of 2021.  The decrease in operating cash flows was due primarily to the timing of cash collections on our accounts receivable, the timing of collections for regulatory tracking mechanisms, the timing of other working capital items, and a $6.5 million decrease in income tax refunds received in 2022, as compared to 2021. These unfavorable impacts were partially offset by the timing of cash payments made on our accounts payable.

For further information on CL&P's, NSTAR Electric's and PSNH's liquidity and capital resources, see "Liquidity" and "Business Development and Capital Expenditures" included in this Management's Discussion and Analysis of Financial Condition and Results of Operations.

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ITEM 3.     QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Market Risk Information

Commodity Price Risk Management:  Our regulated companies enter into energy contracts to serve our customers, and the economic impacts of those contracts are passed on to our customers. Accordingly, the regulated companies have no exposure to loss of future earnings or fair values due to these market risk-sensitive instruments.  Eversource's Energy Supply Risk Committee, comprised of senior officers, reviews and approves all large-scale energy related transactions entered into by its regulated companies.

Other Risk Management Activities

Interest Rate Risk Management:  We manage our interest rate risk exposure in accordance with our written policies and procedures by maintaining a mix of fixed and variable rate long-term debt.

Credit Risk Management:  Credit risk relates to the risk of loss that we would incur as a result of non-performance by counterparties pursuant to the terms of our contractual obligations.  We serve a wide variety of customers and transact with suppliers that include IPPs, industrial companies, natural gas and electric utilities, oil and natural gas producers, financial institutions, and other energy marketers.  Margin accounts exist within this diverse group, and we realize interest receipts and payments related to balances outstanding in these margin accounts.  This wide customer and supplier mix generates a need for a variety of contractual structures, products and terms that, in turn, require us to manage the portfolio of market risk inherent in those transactions in a manner consistent with the parameters established by our risk management process.

Our regulated companies are subject to credit risk from certain long-term or high-volume supply contracts with energy marketing companies.  Our regulated companies manage the credit risk with these counterparties in accordance with established credit risk practices and monitor contracting risks, including credit risk.  As of March 31, 2022, our regulated companies held collateral (letters of credit or cash) of $92.7 million from counterparties related to our standard service contracts.  As of March 31, 2022, Eversource had $34.6 million of cash posted with ISO-NE related to energy transactions.

We have provided additional disclosures regarding interest rate risk management and credit risk management in Part II, Item 7A, "Quantitative and Qualitative Disclosures about Market Risk," in Eversource's 2021 Form 10-K, which is incorporated herein by reference. There have been no additional risks identified and no material changes with regard to the items previously disclosed in the Eversource 2021 Form 10-K.

ITEM 4.    CONTROLS AND PROCEDURES

Management, on behalf of Eversource, CL&P, NSTAR Electric and PSNH, evaluated the design and operation of the disclosure controls and procedures as of March 31, 2022 to determine whether they are effective in ensuring that the disclosure of required information is made timely and in accordance with the Securities Exchange Act of 1934 and the rules and regulations of the SEC.  This evaluation was made under management's supervision and with management's participation, including the principal executive officer and principal financial officer as of the end of the period covered by this Quarterly Report on Form 10-Q.  There are inherent limitations of disclosure controls and procedures, including the possibility of human error and the circumventing or overriding of the controls and procedures.  Accordingly, even effective disclosure controls and procedures can only provide reasonable assurance of achieving their control objectives.  The principal executive officer and principal financial officer have concluded, based on their review, that the disclosure controls and procedures of Eversource, CL&P, NSTAR Electric and PSNH are effective to ensure that information required to be disclosed by us in reports filed under the Securities Exchange Act of 1934 (i) is recorded, processed, summarized, and reported within the time periods specified in SEC rules and regulations and (ii) is accumulated and communicated to management, including the principal executive officer and principal financial officer, as appropriate to allow timely decisions regarding required disclosures.

There have been no changes in internal controls over financial reporting for Eversource, CL&P, NSTAR Electric and PSNH during the quarter ended March 31, 2022 that have materially affected, or are reasonably likely to materially affect, internal controls over financial reporting.

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PART II. OTHER INFORMATION

ITEM 1.    LEGAL PROCEEDINGS

We are parties to various legal proceedings.  We have disclosed certain legal proceedings in Part I, Item 3, "Legal Proceedings," and elsewhere in our 2021 Form 10-K.  These disclosures are incorporated herein by reference.  There have been no material legal proceedings identified and no material changes with regard to the legal proceedings previously disclosed in our 2021 Form 10-K.

ITEM 1A.    RISK FACTORS

We are subject to a variety of significant risks in addition to the matters set forth under our forward-looking statements section in Item 2, "Management's Discussion and Analysis of Financial Condition and Results of Operations," of this Quarterly Report on Form 10-Q. We have identified a number of these risk factors in Part I, Item 1A, "Risk Factors," in our 2021 Form 10-K, which risk factors are incorporated herein by reference. These risk factors should be considered carefully in evaluating our risk profile. There have been no additional risk factors identified and no material changes with regard to the risk factors previously disclosed in our 2021 Form 10-K.

ITEM 2.    UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

The following table discloses purchases of our common shares made by us or on our behalf for the periods shown below.  The common shares purchased consist of open market purchases made by the Company or an independent agent.  These share transactions related to matching contributions under the Eversource 401k Plan.

Period	Total Number of Shares Purchased	Average Price Paid per Share		Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs	Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans and Programs (at month end)
January 1 - January 31, 2022	—	$	—	—	—
February 1 - February 28, 2022	—	—		—	—
March 1 - March 31, 2022	2,244	88.99		—	—
Total	2,244	$	88.99	—	—

56

ITEM 6.    EXHIBITS    

Each document described below is filed herewith, unless designated with an asterisk (*), which exhibits are incorporated by reference by the registrant under whose name the exhibit appears.

	Exhibit No.	Description
	Listing of Exhibits (Eversource)
*	4.1	Sixteenth Supplemental Indenture between Eversource Energy and The Bank of New York Trust Company, N.A., as Trustee, dated as of February 1, 2022, relating to (i) $650 million aggregate principal amount of Senior Notes, Series V, Due 2027 and (ii) $650 million aggregate principal amount of Senior Notes, Series W, Due 2032 (Exhibit 4.1, Eversource Energy Current Report on Form 8-K filed February 25, 2022, File No. 001-05324)
	31	Certification by the Chief Executive Officer of Eversource Energy pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
	31.1	Certification by the Chief Financial Officer of Eversource Energy pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
	32	Certification by the Chief Executive Officer and Chief Financial Officer of Eversource Energy pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
	Listing of Exhibits (CL&P)
	31	Certification by the Chairman of The Connecticut Light and Power Company pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
	31.1	Certification by the Chief Financial Officer of The Connecticut Light and Power Company pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
	32	Certification by the Chairman and the Chief Financial Officer of The Connecticut Light and Power Company pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
	Listing of Exhibits (NSTAR Electric Company)
	31	Certification by the Chairman of NSTAR Electric Company pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
	31.1	Certification by the Chief Financial Officer of NSTAR Electric Company pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
	32	Certification by the Chairman and the Chief Financial Officer of NSTAR Electric Company pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
	Listing of Exhibits (PSNH)
	31	Certification by the Chairman of Public Service Company of New Hampshire pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
	31.1	Certification by the Chief Financial Officer of Public Service Company of New Hampshire pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
	32	Certification by the Chairman and the Chief Financial Officer of Public Service Company of New Hampshire pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
	Listing of Exhibits (Eversource, CL&P, NSTAR Electric, PSNH)
	101.INS	Inline XBRL Instance Document - the instance document does not appear in the interactive data file because its XBRL tags are embedded within the inline XBRL document
	101.SCH	Inline XBRL Taxonomy Extension Schema
	101.CAL	Inline XBRL Taxonomy Extension Calculation
	101.DEF	Inline XBRL Taxonomy Extension Definition
	101.LAB	Inline XBRL Taxonomy Extension Labels
	101.PRE	Inline XBRL Taxonomy Extension Presentation
	104	The cover page from the Quarterly Report on Form 10-Q for the quarter ended March 31, 2022, formatted in Inline XBRL

57

SIGNATURE

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	EVERSOURCE ENERGY
May 6, 2022	By:	/s/ Jay S. Buth
		Jay S. Buth
		Vice President, Controller and Chief Accounting Officer

SIGNATURE

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	THE CONNECTICUT LIGHT AND POWER COMPANY
May 6, 2022	By:	/s/ Jay S. Buth
		Jay S. Buth
		Vice President, Controller and Chief Accounting Officer

SIGNATURE

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	NSTAR ELECTRIC COMPANY
May 6, 2022	By:	/s/ Jay S. Buth
		Jay S. Buth
		Vice President, Controller and Chief Accounting Officer

SIGNATURE

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE
May 6, 2022	By:	/s/ Jay S. Buth
		Jay S. Buth
		Vice President, Controller and Chief Accounting Officer

58

EX-31

Exhibit 31

CERTIFICATION PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Joseph R. Nolan, Jr., certify that:

1.I have reviewed this Quarterly Report on Form 10-Q of Eversource Energy (the registrant);

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d)Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5.The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date:  May 6, 2022

/s/	Joseph R. Nolan, Jr.
	Joseph R. Nolan, Jr.
	President and Chief Executive Officer
	(Principal Executive Officer)

EX-31.1

Exhibit 31.1

CERTIFICATION PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, John M. Moreira, certify that:

1.I have reviewed this Quarterly Report on Form 10-Q of Eversource Energy (the registrant);

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d)Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5.The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date:  May 6, 2022

/s/	John M. Moreira
	John M. Moreira
	Executive Vice President, Chief Financial Officer and Treasurer
	(Principal Financial Officer)

EX-32

Exhibit 32

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with this Quarterly Report on Form 10-Q of Eversource Energy (the registrant) for the period ending March 31, 2022 as filed with the Securities and Exchange Commission (the Report), we, Joseph R. Nolan, Jr., President and Chief Executive Officer of the registrant, and John M. Moreira, Executive Vice President, Chief Financial Officer and Treasurer of the registrant, certify, pursuant to 18 U.S.C. Sec. 1350, as adopted pursuant to Sec. 906 of the Sarbanes-Oxley Act of 2002, that:

1)The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2)The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the registrant.

/s/	Joseph R. Nolan, Jr.
	Joseph R. Nolan, Jr.
	President and Chief Executive Officer

/s/	John M. Moreira
	John M. Moreira
	Executive Vice President, Chief Financial Officer and Treasurer

Date:  May 6, 2022

EX-31

Exhibit 31

CERTIFICATION PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Joseph R. Nolan, Jr., certify that:

1.I have reviewed this Quarterly Report on Form 10-Q of The Connecticut Light and Power Company (the registrant);

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d)Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5.The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date:  May 6, 2022

/s/	Joseph R. Nolan, Jr.
	Joseph R. Nolan, Jr.
	Chairman
	(Principal Executive Officer)

EX-31.1

Exhibit 31.1

CERTIFICATION PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, John M. Moreira, certify that:

1.I have reviewed this Quarterly Report on Form 10-Q of The Connecticut Light and Power Company (the registrant);

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d)Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5.The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date:  May 6, 2022

/s/	John M. Moreira
	John M. Moreira
	Executive Vice President, Chief Financial Officer and Treasurer
	(Principal Financial Officer)

EX-32

Exhibit 32

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with this Quarterly Report on Form 10-Q of The Connecticut Light and Power Company (the registrant) for the period ending March 31, 2022 as filed with the Securities and Exchange Commission (the Report), we, Joseph R. Nolan, Jr., Chairman of the registrant, and John M. Moreira, Executive Vice President, Chief Financial Officer and Treasurer of the registrant, certify, pursuant to 18 U.S.C. Sec. 1350, as adopted pursuant to Sec. 906 of the Sarbanes-Oxley Act of 2002, that:

1)The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2)The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the registrant.

/s/	Joseph R. Nolan, Jr.
	Joseph R. Nolan, Jr.
	Chairman

/s/	John M. Moreira
	John M. Moreira
	Executive Vice President, Chief Financial Officer and Treasurer

Date:  May 6, 2022

EX-31

Exhibit 31

CERTIFICATION PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Joseph R. Nolan, Jr., certify that:

1.I have reviewed this Quarterly Report on Form 10-Q of NSTAR Electric Company (the registrant);

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d)Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5.The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date:  May 6, 2022

/s/	Joseph R. Nolan, Jr.
	Joseph R. Nolan, Jr.
	Chairman
	(Principal Executive Officer)

EX-31.1

Exhibit 31.1

CERTIFICATION PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, John M. Moreira, certify that:

1.I have reviewed this Quarterly Report on Form 10-Q of NSTAR Electric Company (the registrant);

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d)Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5.The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date:  May 6, 2022

/s/	John M. Moreira
	John M. Moreira
	Executive Vice President, Chief Financial Officer and Treasurer
	(Principal Financial Officer)

EX-32

Exhibit 32

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with this Quarterly Report on Form 10-Q of NSTAR Electric Company (the registrant) for the period ending March 31, 2022 as filed with the Securities and Exchange Commission (the Report), we, Joseph R. Nolan, Jr., Chairman of the registrant, and John M. Moreira, Executive Vice President, Chief Financial Officer and Treasurer of the registrant, certify, pursuant to 18 U.S.C. Sec. 1350, as adopted pursuant to Sec. 906 of the Sarbanes-Oxley Act of 2002, that:

1)The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2)The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the registrant.

/s/	Joseph R. Nolan, Jr.
	Joseph R. Nolan, Jr.
	Chairman

/s/	John M. Moreira
	John M. Moreira
	Executive Vice President, Chief Financial Officer and Treasurer

Date:  May 6, 2022

EX-31

Exhibit 31

CERTIFICATION PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Joseph R. Nolan, Jr., certify that:

1.I have reviewed this Quarterly Report on Form 10-Q of Public Service Company of New Hampshire (the registrant);

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d)Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5.The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date:  May 6, 2022

/s/	Joseph R. Nolan, Jr.
	Joseph R. Nolan, Jr.
	Chairman
	(Principal Executive Officer)

EX-31.1

Exhibit 31.1

CERTIFICATION PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, John M. Moreira, certify that:

1.I have reviewed this Quarterly Report on Form 10-Q of Public Service Company of New Hampshire (the registrant);

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d)Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5.The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date:  May 6, 2022

/s/	John M. Moreira
	John M. Moreira
	Executive Vice President, Chief Financial Officer and Treasurer
	(Principal Financial Officer)

EX-32

Exhibit 32

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with this Quarterly Report on Form 10-Q of Public Service Company of New Hampshire (the registrant) for the period ending March 31, 2022 as filed with the Securities and Exchange Commission (the Report), we, Joseph R. Nolan, Jr., Chairman of the registrant, and John M. Moreira, Executive Vice President, Chief Financial Officer and Treasurer of the registrant, certify, pursuant to 18 U.S.C. Sec. 1350, as adopted pursuant to Sec. 906 of the Sarbanes-Oxley Act of 2002, that:

1)The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2)The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the registrant.

/s/	Joseph R. Nolan, Jr.
	Joseph R. Nolan, Jr.
	Chairman

/s/	John M. Moreira
	John M. Moreira
	Executive Vice President, Chief Financial Officer and Treasurer

Date:  May 6, 2022

XML

COVER PAGE - shares	3 Months Ended
	Mar. 31, 2022	Apr. 30, 2022
Document And Entity [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity Registrant Name	EVERSOURCE ENERGY
Entity Incorporation, State or Country Code	MA
Entity Address, Address Line One	300 Cadwell Drive
Entity Address, City or Town	Springfield
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	01104
City Area Code	800
Local Phone Number	286-5000
Entity File Number	001-05324
Entity Tax Identification Number	04-2147929
Title of 12(b) Security	Common Shares, $5.00 par value per share
Trading Symbol	ES
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Smaller Reporting Company	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		344,878,136
Entity Central Index Key	0000072741
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Amendment Flag	false
The Connecticut Light and Power Company
Document And Entity [Line Items]
Entity Registrant Name	THE CONNECTICUT LIGHT AND POWER COMPANY
Entity Incorporation, State or Country Code	CT
Entity Address, Address Line One	107 Selden Street
Entity Address, City or Town	Berlin
Entity Address, State or Province	CT
Entity Address, Postal Zip Code	06037-1616
City Area Code	800
Local Phone Number	286-5000
Entity File Number	000-00404
Entity Tax Identification Number	06-0303850
Entity Filer Category	Non-accelerated Filer
Entity Smaller Reporting Company	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		6,035,205
Entity Central Index Key	0000023426
Current Fiscal Year End Date	--12-31
NSTAR Electric Company
Document And Entity [Line Items]
Entity Registrant Name	NSTAR ELECTRIC COMPANY
Entity Incorporation, State or Country Code	MA
Entity Address, Address Line One	800 Boylston Street
Entity Address, City or Town	Boston
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02199
City Area Code	800
Local Phone Number	286-5000
Entity File Number	001-02301
Entity Tax Identification Number	04-1278810
Entity Filer Category	Non-accelerated Filer
Entity Smaller Reporting Company	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		200
Entity Central Index Key	0000013372
Current Fiscal Year End Date	--12-31
Public Service Company of New Hampshire
Document And Entity [Line Items]
Entity Registrant Name	PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE
Entity Incorporation, State or Country Code	NH
Entity Address, Address Line One	Energy Park
Entity Address, Address Line Two	780 North Commercial Street
Entity Address, City or Town	Manchester
Entity Address, State or Province	NH
Entity Address, Postal Zip Code	03101-1134
City Area Code	800
Local Phone Number	286-5000
Entity File Number	001-06392
Entity Tax Identification Number	02-0181050
Entity Filer Category	Non-accelerated Filer
Entity Smaller Reporting Company	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		301
Entity Central Index Key	0000315256
Current Fiscal Year End Date	--12-31

XML

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Current Assets:
Cash	$ 46,175	$ 66,773
Receivables, Net (net of allowance for uncollectible accounts)	1,468,558	1,226,069
Unbilled Revenues	192,913	210,879
Fuel, Materials, Supplies and REC Inventory	287,042	267,547
Regulatory Assets	1,128,088	1,129,093
Prepayments and Other Current Assets	350,907	369,759
Total Current Assets	3,473,683	3,270,120
Property, Plant and Equipment, Net	33,852,596	33,377,650
Deferred Debits and Other Assets:
Total Long-Term Regulatory Assets	4,573,309	4,586,709
Goodwill	4,477,118	4,477,269
Investments in Unconsolidated Affiliates	1,545,433	1,436,293
Marketable Securities	423,216	460,347
Other Long-Term Assets	943,797	883,756
Total Deferred Debits and Other Assets	11,962,873	11,844,374
Total Assets	49,289,152	48,492,144
Current Liabilities:
Notes Payable	1,668,800	1,505,450
Long-Term Debt – Current Portion	817,114	1,193,097
Rate Reduction Bonds – Current Portion	43,210	43,210
Accounts Payable	1,494,360	1,672,230
Regulatory Liabilities	652,358	602,432
Other Current Liabilities	925,467	830,620
Total Current Liabilities	5,601,309	5,847,039
Deferred Credits and Other Liabilities:
Accumulated Deferred Income Taxes	4,683,105	4,597,120
Regulatory Liabilities	3,894,768	3,866,251
Derivative Liabilities	209,548	235,387
Asset Retirement Obligations	500,685	500,111
Accrued Pension, SERP and PBOP	200,614	242,463
Other Long-Term Liabilities	862,304	971,080
Total Deferred Credits and Other Liabilities	10,351,024	10,412,412
Capitalization:
Long-Term Debt	17,912,462	17,023,577
Rate Reduction Bonds	432,097	453,702
Noncontrolling Interest – Preferred Stock of Subsidiaries	155,570	155,570
Common Shareholders' Equity:
Common Shares	1,789,092	1,789,092
Capital Surplus, Paid In	8,102,618	8,098,514
Retained Earnings	5,229,069	5,005,391
Accumulated Other Comprehensive Loss	(41,571)	(42,275)
Treasury Stock	(242,518)	(250,878)
Common Shareholders' Equity	14,836,690	14,599,844
Commitments and Contingencies (Note 9)
Total Liabilities and Capitalization	$ 49,289,152	$ 48,492,144

XML

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Allowance for uncollectible accounts	$ 432,174	$ 417,406

XML

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
Operating Revenues	$ 3,471,310	$ 2,825,840
Operating Expenses:
Purchased Power, Fuel and Transmission	1,389,696	998,491
Operations and Maintenance	472,433	465,542
Depreciation	289,330	270,704
Amortization	236,948	108,013
Energy Efficiency Programs	199,484	188,063
Taxes Other Than Income Taxes	220,364	209,459
Total Operating Expenses	2,808,255	2,240,272
Operating Income/(Loss)	663,055	585,568
Interest Expense	153,245	137,766
Other Income, Net	71,561	34,201
Income Before Income Tax Expense	581,371	482,003
Income Tax Expense	136,045	113,980
Net Income	445,326	368,023
Net Income Attributable to Noncontrolling Interests	1,880	1,880
Net Income Attributable to Common Shareholders	$ 443,446	$ 366,143
Basic EPS (in dollars per share)	$ 1.28	$ 1.07
Diluted EPS (in dollars per share)	$ 1.28	$ 1.06
Weighted Average Common Shares Outstanding:
Basic (in shares)	345,156,346	343,678,243
Diluted (in shares)	345,661,133	344,334,689

XML

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Net Income	$ 445,326	$ 368,023
Other Comprehensive Income (Loss), Net of Tax:
Qualified Cash Flow Hedging Instruments	5	407
Changes in Unrealized Losses on Marketable Securities	(817)	(736)
Changes in Funded Status of Pension, SERP and PBOP Benefit Plans	1,516	1,517
Net OCI	704	1,188
Comprehensive Income Attributable to Noncontrolling Interests	(1,880)	(1,880)
Comprehensive Income Attributable to Common Shareholders	$ 444,150	$ 367,331

XML

CONDENSED CONSOLIDATED STATEMENTS OF COMMON SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Shares	Capital Surplus, Paid In	Retained Earnings	Accumulated Other Comprehensive Loss	Treasury Stock
Balance (in shares) at Dec. 31, 2020		342,954,023
Balance at Dec. 31, 2020	$ 14,063,566	$ 1,789,092	$ 8,015,663	$ 4,613,201	$ (76,411)	$ (277,979)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	368,023			368,023
Dividends on Common Stock	(206,913)			(206,913)
Dividends on Preferred Stock	(1,880)			(1,880)
Long-Term Incentive Plan Activity	(15,727)		(15,727)
Issuance of Treasury Shares (in shares)		480,275
Issuance of Treasury Shares	25,163		16,182			8,981
Other Comprehensive (Loss)/Income, Net of Tax	1,188				1,188
Balance (in shares) at Mar. 31, 2021		343,434,298
Balance at Mar. 31, 2021	$ 14,233,420	$ 1,789,092	8,016,118	4,772,431	(75,223)	(268,998)
Balance (in shares) at Dec. 31, 2021	344,403,196	344,403,196
Balance at Dec. 31, 2021	$ 14,599,844	$ 1,789,092	8,098,514	5,005,391	(42,275)	(250,878)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	445,326			445,326
Dividends on Common Stock	(219,768)			(219,768)
Dividends on Preferred Stock	(1,880)			(1,880)
Long-Term Incentive Plan Activity	(16,538)		(16,538)
Issuance of Treasury Shares (in shares)		447,076
Issuance of Treasury Shares	29,002		20,642			8,360
Other Comprehensive (Loss)/Income, Net of Tax	$ 704				704
Balance (in shares) at Mar. 31, 2022	344,850,272	344,850,272
Balance at Mar. 31, 2022	$ 14,836,690	$ 1,789,092	$ 8,102,618	$ 5,229,069	$ (41,571)	$ (242,518)

XML

CONDENSED CONSOLIDATED STATEMENTS OF COMMON SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Stockholders' Equity [Abstract]
Dividends on Common Shares (in dollars per share)	$ 0.6375	$ 0.6025

XML

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Operating Activities:
Net Income	$ 445,326	$ 368,023
Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities:
Depreciation	289,330	270,704
Deferred Income Taxes	67,557	41,917
Uncollectible Expense	17,135	16,295
Pension, SERP and PBOP Income, Net	(40,642)	(2,341)
Pension and PBOP Contributions	(26,100)	(31,100)
Regulatory (Under)/Over Recoveries, Net	(107,767)	28,024
(Customer Credits)/Reserve at CL&P related to PURA Settlement Agreement and Storm Performance Penalty	(58,412)	30,000
Amortization	236,948	108,013
Cost of Removal Expenditures	(61,660)	(39,333)
Other	(21,409)	(51,913)
Changes in Current Assets and Liabilities:
Accounts Receivables from Subsidiaries	(291,723)	(124,344)
Fuel, Materials, Supplies and REC Inventory	(19,495)	(42,494)
Taxes Receivable/Accrued, Net	56,519	64,076
Accounts Payable	(68,909)	(181,725)
Other Current Assets and Liabilities, Net	(44,758)	(42,386)
Net Cash Flows Provided by Operating Activities	371,940	411,416
Investing Activities:
Investments in Property, Plant and Equipment	(764,594)	(688,983)
Proceeds from Sales of Marketable Securities	90,409	79,818
Purchases of Marketable Securities	(76,182)	(68,360)
Investments in Unconsolidated Affiliates, Net	(113,856)	(34,127)
Other Investing Activities	5,976	7,135
Net Cash Flows Used in Investing Activities	(858,247)	(704,517)
Financing Activities:
Cash Dividends on Common Shares	(213,890)	(201,013)
Cash Dividends on Preferred Stock	(1,880)	(1,880)
Increase in Notes Payable	163,350	669,919
Repayment of Rate Reduction Bonds	(21,605)	(21,605)
Issuance of Long-Term Debt	1,300,000	350,000
Retirement of Long-Term Debt	(770,000)	(572,000)
Other Financing Activities	(26,087)	(19,666)
Net Cash Flows Provided by/(Used in) Financing Activities	429,888	203,755
Net Decrease in Cash and Restricted Cash	(56,419)	(89,346)
Cash and Restricted Cash - Beginning of Period	221,008	264,950
Cash and Restricted Cash - End of Period	$ 164,589	$ 175,604

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THE CONNECTICUT LIGHT AND POWER COMPANY CONDENSED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Current Assets:
Cash	$ 46,175	$ 66,773
Receivables, Net (net of allowance for uncollectible accounts)	1,468,558	1,226,069
Unbilled Revenues	192,913	210,879
Fuel, Materials, Supplies and REC Inventory	287,042	267,547
Regulatory Assets	1,128,088	1,129,093
Prepayments and Other Current Assets	350,907	369,759
Total Current Assets	3,473,683	3,270,120
Property, Plant and Equipment, Net	33,852,596	33,377,650
Deferred Debits and Other Assets:
Total Long-Term Regulatory Assets	4,573,309	4,586,709
Other Long-Term Assets	943,797	883,756
Total Deferred Debits and Other Assets	11,962,873	11,844,374
Total Assets	49,289,152	48,492,144
Current Liabilities:
Long-Term Debt – Current Portion	817,114	1,193,097
Accounts Payable	1,494,360	1,672,230
Regulatory Liabilities	652,358	602,432
Other Current Liabilities	925,467	830,620
Total Current Liabilities	5,601,309	5,847,039
Deferred Credits and Other Liabilities:
Accumulated Deferred Income Taxes	4,683,105	4,597,120
Regulatory Liabilities	3,894,768	3,866,251
Derivative Liabilities	209,548	235,387
Other Long-Term Liabilities	862,304	971,080
Total Deferred Credits and Other Liabilities	10,351,024	10,412,412
Capitalization:
Long-Term Debt	17,912,462	17,023,577
Noncontrolling Interest – Preferred Stock of Subsidiaries	155,570	155,570
Common Shareholders' Equity:
Common Shares	1,789,092	1,789,092
Capital Surplus, Paid In	8,102,618	8,098,514
Retained Earnings	5,229,069	5,005,391
Accumulated Other Comprehensive Income	(41,571)	(42,275)
Common Shareholders' Equity	14,836,690	14,599,844
Commitments and Contingencies (Note 9)
Total Liabilities and Capitalization	49,289,152	48,492,144
The Connecticut Light and Power Company
Current Assets:
Cash	21,628	55,804
Receivables, Net (net of allowance for uncollectible accounts)	567,718	447,774
Accounts Receivable from Affiliated Companies	46,852	43,944
Unbilled Revenues	50,515	56,787
Fuel, Materials, Supplies and REC Inventory	65,196	60,264
Regulatory Assets	382,112	371,609
Prepayments and Other Current Assets	95,710	120,257
Total Current Assets	1,229,731	1,156,439
Property, Plant and Equipment, Net	10,941,005	10,803,543
Deferred Debits and Other Assets:
Total Long-Term Regulatory Assets	1,681,057	1,713,161
Other Long-Term Assets	287,028	276,513
Total Deferred Debits and Other Assets	1,968,085	1,989,674
Total Assets	14,138,821	13,949,656
Current Liabilities:
Long-Term Debt – Current Portion	400,000	0
Accounts Payable	514,385	533,454
Accounts Payable to Affiliated Companies	126,363	132,578
Regulatory Liabilities	251,555	266,489
Derivative Liabilities	74,428	73,528
Other Current Liabilities	174,210	141,955
Total Current Liabilities	1,540,941	1,148,004
Deferred Credits and Other Liabilities:
Accumulated Deferred Income Taxes	1,588,370	1,562,102
Regulatory Liabilities	1,208,297	1,193,259
Derivative Liabilities	209,548	235,387
Other Long-Term Liabilities	181,850	179,824
Total Deferred Credits and Other Liabilities	3,188,065	3,170,572
Capitalization:
Long-Term Debt	3,815,662	4,215,379
Noncontrolling Interest – Preferred Stock of Subsidiaries	116,200	116,200
Common Shareholders' Equity:
Common Shares	60,352	60,352
Capital Surplus, Paid In	3,110,765	3,010,765
Retained Earnings	2,306,620	2,228,133
Accumulated Other Comprehensive Income	216	251
Common Shareholders' Equity	5,477,953	5,299,501
Commitments and Contingencies (Note 9)
Total Liabilities and Capitalization	$ 14,138,821	$ 13,949,656

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THE CONNECTICUT LIGHT AND POWER COMPANY CONDENSED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Allowance for uncollectible accounts	$ 432,174	$ 417,406
The Connecticut Light and Power Company
Allowance for uncollectible accounts	$ 180,524	$ 181,319

XML

THE CONNECTICUT LIGHT AND POWER COMPANY CONDENSED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Operating Revenues	$ 3,471,310	$ 2,825,840
Operating Expenses:
Purchased Power, Fuel and Transmission	1,389,696	998,491
Operations and Maintenance	472,433	465,542
Depreciation	289,330	270,704
Energy Efficiency Programs	199,484	188,063
Taxes Other Than Income Taxes	220,364	209,459
Total Operating Expenses	2,808,255	2,240,272
Operating Income/(Loss)	663,055	585,568
Interest Expense	153,245	137,766
Other Income, Net	71,561	34,201
Income Before Income Tax Expense	581,371	482,003
Income Tax Expense	136,045	113,980
Net Income	445,326	368,023
The Connecticut Light and Power Company
Operating Revenues	1,285,831	987,274
Operating Expenses:
Purchased Power, Fuel and Transmission	523,463	373,274
Operations and Maintenance	157,061	175,420
Depreciation	87,265	83,405
Amortization of Regulatory Assets, Net	169,749	62,775
Energy Efficiency Programs	35,397	35,573
Taxes Other Than Income Taxes	90,373	91,392
Total Operating Expenses	1,063,308	821,839
Operating Income/(Loss)	222,523	165,435
Interest Expense	40,586	38,979
Other Income, Net	19,564	4,908
Income Before Income Tax Expense	201,501	131,364
Income Tax Expense	48,524	32,966
Net Income	$ 152,977	$ 98,398

XML

THE CONNECTICUT LIGHT AND POWER COMPANY CONDENSED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Net Income	$ 445,326	$ 368,023
Other Comprehensive Income (Loss), Net of Tax:
Qualified Cash Flow Hedging Instruments	5	407
Changes in Unrealized Losses on Marketable Securities	(817)	(736)
Net OCI	704	1,188
Comprehensive Income Attributable to Common Shareholders	444,150	367,331
The Connecticut Light and Power Company
Net Income	152,977	98,398
Other Comprehensive Income (Loss), Net of Tax:
Qualified Cash Flow Hedging Instruments	(7)	(7)
Changes in Unrealized Losses on Marketable Securities	(28)	(25)
Net OCI	(35)	(32)
Comprehensive Income Attributable to Common Shareholders	$ 152,942	$ 98,366

XML

THE CONNECTICUT LIGHT AND POWER COMPANY CONDENSED STATEMENTS OF COMMON STOCKHOLDER'S EQUITY - USD ($) $ in Thousands	Total	Common Stock	Capital Surplus, Paid In	Retained Earnings	Accumulated Other Comprehensive Loss	The Connecticut Light and Power Company	The Connecticut Light and Power Company Common Stock	The Connecticut Light and Power Company Capital Surplus, Paid In	The Connecticut Light and Power Company Retained Earnings	The Connecticut Light and Power Company Accumulated Other Comprehensive Loss
Balance (in shares) at Dec. 31, 2020		342,954,023					6,035,205
Balance at Dec. 31, 2020	$ 14,063,566	$ 1,789,092	$ 8,015,663	$ 4,613,201	$ (76,411)	$ 5,044,786	$ 60,352	$ 2,810,765	$ 2,173,367	$ 302
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	368,023			368,023		98,398			98,398
Dividends on Preferred Stock	(1,880)			(1,880)		(1,390)			(1,390)
Dividends on Common Stock	(206,913)			(206,913)		(70,100)			(70,100)
Other Comprehensive Loss	1,188				1,188	(32)				(32)
Balance (in shares) at Mar. 31, 2021		343,434,298					6,035,205
Balance at Mar. 31, 2021	$ 14,233,420	$ 1,789,092	8,016,118	4,772,431	(75,223)	5,071,662	$ 60,352	2,810,765	2,200,275	270
Balance (in shares) at Dec. 31, 2021	344,403,196	344,403,196					6,035,205
Balance at Dec. 31, 2021	$ 14,599,844	$ 1,789,092	8,098,514	5,005,391	(42,275)	5,299,501	$ 60,352	3,010,765	2,228,133	251
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	445,326			445,326		152,977			152,977
Dividends on Preferred Stock	(1,880)			(1,880)		(1,390)			(1,390)
Dividends on Common Stock	(219,768)			(219,768)		(73,100)			(73,100)
Capital Contributions from Eversource Parent						100,000		100,000
Other Comprehensive Loss	$ 704				704	(35)				(35)
Balance (in shares) at Mar. 31, 2022	344,850,272	344,850,272					6,035,205
Balance at Mar. 31, 2022	$ 14,836,690	$ 1,789,092	$ 8,102,618	$ 5,229,069	$ (41,571)	$ 5,477,953	$ 60,352	$ 3,110,765	$ 2,306,620	$ 216

XML

THE CONNECTICUT LIGHT AND POWER COMPANY CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Operating Activities:
Net Income	$ 445,326	$ 368,023
Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities:
Depreciation	289,330	270,704
Deferred Income Taxes	67,557	41,917
Uncollectible Expense	17,135	16,295
Pension, SERP and PBOP (Income)/Expense, Net	(40,642)	(2,341)
Pension and PBOP Contributions	(26,100)	(31,100)
Regulatory (Under)/Over Recoveries, Net	(107,767)	28,024
(Customer Credits)/Reserve at CL&P related to PURA Settlement Agreement and Storm Performance Penalty	(58,412)	30,000
Cost of Removal Expenditures	(61,660)	(39,333)
Other	(21,409)	(51,913)
Changes in Current Assets and Liabilities:
Receivables and Unbilled Revenues, Net	(291,723)	(124,344)
Taxes Receivable/Accrued, Net	56,519	64,076
Accounts Payable	(68,909)	(181,725)
Other Current Assets and Liabilities, Net	(44,758)	(42,386)
Net Cash Flows Provided by Operating Activities	371,940	411,416
Investing Activities:
Investments in Property, Plant and Equipment	(764,594)	(688,983)
Other Investing Activities	5,976	7,135
Net Cash Flows Used in Investing Activities	(858,247)	(704,517)
Financing Activities:
Cash Dividends on Common Shares	(213,890)	(201,013)
Cash Dividends on Preferred Stock	(1,880)	(1,880)
Other Financing Activities	(26,087)	(19,666)
Net Cash Flows Provided by/(Used in) Financing Activities	429,888	203,755
Net Decrease in Cash and Restricted Cash	(56,419)	(89,346)
Cash and Restricted Cash - Beginning of Period	221,008	264,950
Cash and Restricted Cash - End of Period	164,589	175,604
The Connecticut Light and Power Company
Operating Activities:
Net Income	152,977	98,398
Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities:
Depreciation	87,265	83,405
Deferred Income Taxes	19,627	25,354
Uncollectible Expense	3,776	3,797
Pension, SERP and PBOP (Income)/Expense, Net	(7,330)	3,088
Pension and PBOP Contributions	0	(18,940)
Regulatory (Under)/Over Recoveries, Net	(162,474)	(59,971)
(Customer Credits)/Reserve at CL&P related to PURA Settlement Agreement and Storm Performance Penalty	(58,412)	30,000
Amortization of Regulatory Assets, Net	169,749	62,775
Cost of Removal Expenditures	(16,684)	(17,293)
Other	(9,357)	(12,777)
Changes in Current Assets and Liabilities:
Receivables and Unbilled Revenues, Net	(125,429)	(66,930)
Taxes Receivable/Accrued, Net	67,708	29,596
Accounts Payable	38,010	17,124
Other Current Assets and Liabilities, Net	(24,143)	(21,433)
Net Cash Flows Provided by Operating Activities	135,283	156,193
Investing Activities:
Investments in Property, Plant and Equipment	(205,343)	(197,954)
Other Investing Activities	346	80
Net Cash Flows Used in Investing Activities	(204,997)	(197,874)
Financing Activities:
Cash Dividends on Common Shares	(73,100)	(70,100)
Cash Dividends on Preferred Stock	(1,390)	(1,390)
Capital Contributions from Eversource Parent	100,000	0
Increase in Notes Payable to Eversource Parent	0	32,100
Other Financing Activities	0	(450)
Net Cash Flows Provided by/(Used in) Financing Activities	25,510	(39,840)
Net Decrease in Cash and Restricted Cash	(44,204)	(81,521)
Cash and Restricted Cash - Beginning of Period	74,788	99,809
Cash and Restricted Cash - End of Period	$ 30,584	$ 18,288

XML

NSTAR ELECTRIC COMPANY AND SUBSIDIARY CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Current Assets:
Cash	$ 46,175	$ 66,773
Receivables, Net (net of allowance for uncollectible accounts)	1,468,558	1,226,069
Unbilled Revenues	192,913	210,879
Fuel, Materials, Supplies and REC Inventory	287,042	267,547
Regulatory Assets	1,128,088	1,129,093
Prepayments and Other Current Assets	350,907	369,759
Total Current Assets	3,473,683	3,270,120
Property, Plant and Equipment, Net	33,852,596	33,377,650
Deferred Debits and Other Assets:
Total Long-Term Regulatory Assets	4,573,309	4,586,709
Other Long-Term Assets	943,797	883,756
Total Deferred Debits and Other Assets	11,962,873	11,844,374
Total Assets	49,289,152	48,492,144
Current Liabilities:
Notes Payable	1,668,800	1,505,450
Long-Term Debt – Current Portion	817,114	1,193,097
Accounts Payable	1,494,360	1,672,230
Regulatory Liabilities	652,358	602,432
Other Current Liabilities	925,467	830,620
Total Current Liabilities	5,601,309	5,847,039
Deferred Credits and Other Liabilities:
Accumulated Deferred Income Taxes	4,683,105	4,597,120
Regulatory Liabilities	3,894,768	3,866,251
Other Long-Term Liabilities	862,304	971,080
Total Deferred Credits and Other Liabilities	10,351,024	10,412,412
Capitalization:
Long-Term Debt	17,912,462	17,023,577
Preferred Stock Not Subject to Mandatory Redemption	155,570	155,570
Common Shareholders' Equity:
Common Shares	1,789,092	1,789,092
Capital Surplus, Paid In	8,102,618	8,098,514
Retained Earnings	5,229,069	5,005,391
Accumulated Other Comprehensive Income	(41,571)	(42,275)
Common Shareholders' Equity	14,836,690	14,599,844
Commitments and Contingencies (Note 9)
Total Liabilities and Capitalization	49,289,152	48,492,144
NSTAR Electric Company
Current Assets:
Cash	721	745
Receivables, Net (net of allowance for uncollectible accounts)	417,048	405,674
Accounts Receivable from Affiliated Companies	45,121	67,420
Unbilled Revenues	36,618	37,497
Fuel, Materials, Supplies and REC Inventory	148,084	116,712
Taxes Receivable	35,318	80,617
Regulatory Assets	433,653	443,956
Prepayments and Other Current Assets	25,465	22,397
Total Current Assets	1,142,028	1,175,018
Property, Plant and Equipment, Net	11,008,899	10,876,614
Deferred Debits and Other Assets:
Total Long-Term Regulatory Assets	1,239,773	1,135,231
Prepaid Pension and PBOP	475,602	441,426
Other Long-Term Assets	171,421	171,657
Total Deferred Debits and Other Assets	1,886,796	1,748,314
Total Assets	14,037,723	13,799,946
Current Liabilities:
Notes Payable	275,000	162,500
Notes Payable to Eversource Parent	4,000	0
Long-Term Debt – Current Portion	400,000	400,000
Accounts Payable	437,896	490,915
Accounts Payable to Affiliated Companies	139,762	129,575
Obligations to Third Party Suppliers	127,342	116,273
Renewable Portfolio Standards Compliance Obligations	129,759	100,200
Regulatory Liabilities	279,299	228,248
Other Current Liabilities	157,567	84,303
Total Current Liabilities	1,950,625	1,712,014
Deferred Credits and Other Liabilities:
Accumulated Deferred Income Taxes	1,617,909	1,579,508
Regulatory Liabilities	1,570,969	1,559,072
Other Long-Term Liabilities	275,573	347,934
Total Deferred Credits and Other Liabilities	3,464,451	3,486,514
Capitalization:
Long-Term Debt	3,586,326	3,585,399
Preferred Stock Not Subject to Mandatory Redemption	43,000	43,000
Common Shareholders' Equity:
Common Shares	0	0
Capital Surplus, Paid In	2,253,942	2,253,942
Retained Earnings	2,738,925	2,718,576
Accumulated Other Comprehensive Income	454	501
Common Shareholders' Equity	4,993,321	4,973,019
Commitments and Contingencies (Note 9)
Total Liabilities and Capitalization	$ 14,037,723	$ 13,799,946

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NSTAR ELECTRIC COMPANY AND SUBSIDIARY CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Allowance for uncollectible accounts	$ 432,174	$ 417,406
NSTAR Electric
Allowance for uncollectible accounts	$ 94,775	$ 97,005

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NSTAR ELECTRIC COMPANY AND SUBSIDIARY CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Operating Revenues	$ 3,471,310	$ 2,825,840
Operating Expenses:
Purchased Power, Fuel and Transmission	1,389,696	998,491
Operations and Maintenance	472,433	465,542
Depreciation	289,330	270,704
Energy Efficiency Programs	199,484	188,063
Taxes Other Than Income Taxes	220,364	209,459
Total Operating Expenses	2,808,255	2,240,272
Operating Income/(Loss)	663,055	585,568
Interest Expense	153,245	137,766
Other Income, Net	71,561	34,201
Income Before Income Tax Expense	581,371	482,003
Income Tax Expense	136,045	113,980
Net Income	445,326	368,023
NSTAR Electric Company
Operating Revenues	863,176	737,043
Operating Expenses:
Purchased Power, Fuel and Transmission	313,748	226,478
Operations and Maintenance	164,862	143,219
Depreciation	89,033	82,793
Amortization of Regulatory Assets, Net	29,345	18,418
Energy Efficiency Programs	80,232	75,099
Taxes Other Than Income Taxes	59,774	54,652
Total Operating Expenses	736,994	600,659
Operating Income/(Loss)	126,182	136,384
Interest Expense	38,222	32,306
Other Income, Net	29,231	16,812
Income Before Income Tax Expense	117,191	120,890
Income Tax Expense	24,452	26,966
Net Income	$ 92,739	$ 93,924

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NSTAR ELECTRIC COMPANY AND SUBSIDIARY CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Net Income	$ 445,326	$ 368,023
Other Comprehensive Income (Loss), Net of Tax:
Changes in Funded Status of Pension, SERP and PBOP Benefit Plans	1,516	1,517
Qualified Cash Flow Hedging Instruments	5	407
Changes in Unrealized Losses on Marketable Securities	(817)	(736)
Net OCI	704	1,188
Comprehensive Income Attributable to Common Shareholders	444,150	367,331
NSTAR Electric Company
Net Income	92,739	93,924
Other Comprehensive Income (Loss), Net of Tax:
Changes in Funded Status of Pension, SERP and PBOP Benefit Plans	(44)	(41)
Qualified Cash Flow Hedging Instruments	5	109
Changes in Unrealized Losses on Marketable Securities	(8)	(7)
Net OCI	(47)	61
Comprehensive Income Attributable to Common Shareholders	$ 92,692	$ 93,985

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NSTAR ELECTRIC COMPANY AND SUBSIDIARY CONDENSED CONSOLIDATED STATEMENTS OF COMMON STOCKHOLDER'S EQUITY - USD ($) $ in Thousands	Total	Common Stock	Capital Surplus, Paid In	Retained Earnings	Accumulated Other Comprehensive Loss	NSTAR Electric	NSTAR Electric Common Stock	NSTAR Electric Capital Surplus, Paid In	NSTAR Electric Retained Earnings	NSTAR Electric Accumulated Other Comprehensive Loss
Balance (in shares) at Dec. 31, 2020		342,954,023					200
Balance at Dec. 31, 2020	$ 14,063,566	$ 1,789,092	$ 8,015,663	$ 4,613,201	$ (76,411)	$ 4,521,418	$ 0	$ 1,993,942	$ 2,527,167	$ 309
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	368,023			368,023		93,924			93,924
Dividends on Preferred Stock	(1,880)			(1,880)		(490)			(490)
Dividends on Common Stock	(206,913)			(206,913)		(206,400)			(206,400)
Other Comprehensive (Loss)/Income, Net of Tax	1,188				1,188	61				61
Balance (in shares) at Mar. 31, 2021		343,434,298					200
Balance at Mar. 31, 2021	$ 14,233,420	$ 1,789,092	8,016,118	4,772,431	(75,223)	4,408,513	$ 0	1,993,942	2,414,201	370
Balance (in shares) at Dec. 31, 2021	344,403,196	344,403,196					200
Balance at Dec. 31, 2021	$ 14,599,844	$ 1,789,092	8,098,514	5,005,391	(42,275)	4,973,019	$ 0	2,253,942	2,718,576	501
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	445,326			445,326		92,739			92,739
Dividends on Preferred Stock	(1,880)			(1,880)		(490)			(490)
Dividends on Common Stock	(219,768)			(219,768)		(71,900)			(71,900)
Other Comprehensive (Loss)/Income, Net of Tax	$ 704				704	(47)				(47)
Balance (in shares) at Mar. 31, 2022	344,850,272	344,850,272					200
Balance at Mar. 31, 2022	$ 14,836,690	$ 1,789,092	$ 8,102,618	$ 5,229,069	$ (41,571)	$ 4,993,321	$ 0	$ 2,253,942	$ 2,738,925	$ 454

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NSTAR ELECTRIC COMPANY AND SUBSIDIARY CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Operating Activities:
Net Income	$ 445,326	$ 368,023
Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities:
Depreciation	289,330	270,704
Deferred Income Taxes	67,557	41,917
Uncollectible Expense	17,135	16,295
Pension and PBOP Contributions	(26,100)	(31,100)
Regulatory (Under)/Over Recoveries, Net	(107,767)	28,024
Cost of Removal Expenditures	(61,660)	(39,333)
Other	(21,409)	(51,913)
Changes in Current Assets and Liabilities:
Accounts Receivables from Subsidiaries	(291,723)	(124,344)
Fuel, Materials, Supplies and REC Inventory	(19,495)	(42,494)
Taxes Receivable/Accrued, Net	56,519	64,076
Accounts Payable	(68,909)	(181,725)
Other Current Assets and Liabilities, Net	(44,758)	(42,386)
Net Cash Flows Provided by Operating Activities	371,940	411,416
Investing Activities:
Investments in Property, Plant and Equipment	(764,594)	(688,983)
Other Investing Activities	5,976	7,135
Net Cash Flows Used in Investing Activities	(858,247)	(704,517)
Financing Activities:
Cash Dividends on Common Shares	(213,890)	(201,013)
Cash Dividends on Preferred Stock	(1,880)	(1,880)
Increase in Notes Payable	163,350	669,919
Other Financing Activities	(26,087)	(19,666)
Net Cash Flows Provided by/(Used in) Financing Activities	429,888	203,755
Net Decrease in Cash and Restricted Cash	(56,419)	(89,346)
Cash and Restricted Cash - Beginning of Period	221,008	264,950
Cash and Restricted Cash - End of Period	164,589	175,604
NSTAR Electric
Operating Activities:
Net Income	92,739	93,924
Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities:
Depreciation	89,033	82,793
Deferred Income Taxes	26,857	10,309
Uncollectible Expense	4,662	3,868
Pension, SERP and PBOP Expense, Net of Contributions	(13,742)	(6,335)
Pension and PBOP Contributions	(5,000)	0
Regulatory (Under)/Over Recoveries, Net	(10,813)	(3,405)
Amortization of Regulatory Assets, Net	29,345	18,418
Cost of Removal Expenditures	(12,852)	(10,224)
Other	(5,531)	(13,362)
Changes in Current Assets and Liabilities:
Accounts Receivables from Subsidiaries	2,051	(14,587)
Fuel, Materials, Supplies and REC Inventory	(31,372)	(52,998)
Taxes Receivable/Accrued, Net	45,299	58,353
Accounts Payable	(55,743)	(45,604)
Other Current Assets and Liabilities, Net	34,931	51,445
Net Cash Flows Provided by Operating Activities	189,864	172,595
Investing Activities:
Investments in Property, Plant and Equipment	(234,120)	(215,483)
Other Investing Activities	96	22
Net Cash Flows Used in Investing Activities	(234,024)	(215,461)
Financing Activities:
Cash Dividends on Common Shares	(71,900)	(206,400)
Cash Dividends on Preferred Stock	(490)	(490)
Increase in Notes Payable to Eversource Parent	4,000	1,200
Increase in Notes Payable	112,500	248,500
Other Financing Activities	15	19
Net Cash Flows Provided by/(Used in) Financing Activities	44,125	42,829
Net Decrease in Cash and Restricted Cash	(35)	(37)
Cash and Restricted Cash - Beginning of Period	18,179	17,410
Cash and Restricted Cash - End of Period	$ 18,144	$ 17,373

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PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Current Assets:
Cash	$ 46,175	$ 66,773
Receivables, Net (net of allowance for uncollectible accounts)	1,468,558	1,226,069
Unbilled Revenues	192,913	210,879
Fuel, Materials, Supplies and REC Inventory	287,042	267,547
Regulatory Assets	1,128,088	1,129,093
Prepayments and Other Current Assets	350,907	369,759
Total Current Assets	3,473,683	3,270,120
Property, Plant and Equipment, Net	33,852,596	33,377,650
Deferred Debits and Other Assets:
Total Long-Term Regulatory Assets	4,573,309	4,586,709
Other Long-Term Assets	943,797	883,756
Total Deferred Debits and Other Assets	11,962,873	11,844,374
Total Assets	49,289,152	48,492,144
Current Liabilities:
Rate Reduction Bonds – Current Portion	43,210	43,210
Accounts Payable	1,494,360	1,672,230
Regulatory Liabilities	652,358	602,432
Other Current Liabilities	925,467	830,620
Total Current Liabilities	5,601,309	5,847,039
Deferred Credits and Other Liabilities:
Accumulated Deferred Income Taxes	4,683,105	4,597,120
Regulatory Liabilities	3,894,768	3,866,251
Other Long-Term Liabilities	862,304	971,080
Total Deferred Credits and Other Liabilities	10,351,024	10,412,412
Capitalization:
Long-Term Debt	17,912,462	17,023,577
Rate Reduction Bonds	432,097	453,702
Common Shareholders' Equity:
Common Shares	1,789,092	1,789,092
Capital Surplus, Paid In	8,102,618	8,098,514
Retained Earnings	5,229,069	5,005,391
Accumulated Other Comprehensive Loss	(41,571)	(42,275)
Common Shareholders' Equity	14,836,690	14,599,844
Commitments and Contingencies (Note 9)
Total Liabilities and Capitalization	49,289,152	48,492,144
PSNH
Current Assets:
Cash	3,827	15
Receivables, Net (net of allowance for uncollectible accounts)	148,542	124,232
Accounts Receivable from Affiliated Companies	17,271	17,156
Unbilled Revenues	51,490	53,937
Fuel, Materials, Supplies and REC Inventory	31,963	25,930
Regulatory Assets	124,701	107,169
Special Deposits	16,557	31,390
Prepayments and Other Current Assets	8,387	22,109
Total Current Assets	402,738	381,938
Property, Plant and Equipment, Net	3,722,618	3,656,462
Deferred Debits and Other Assets:
Total Long-Term Regulatory Assets	654,507	679,182
Other Long-Term Assets	22,513	23,202
Total Deferred Debits and Other Assets	677,020	702,384
Total Assets	4,802,376	4,740,784
Current Liabilities:
Notes Payable to Eversource Parent	196,400	110,600
Rate Reduction Bonds – Current Portion	43,210	43,210
Accounts Payable	157,876	166,452
Accounts Payable to Affiliated Companies	41,508	43,485
Regulatory Liabilities	106,393	120,176
Other Current Liabilities	64,356	63,005
Total Current Liabilities	609,743	546,928
Deferred Credits and Other Liabilities:
Accumulated Deferred Income Taxes	545,593	537,978
Regulatory Liabilities	388,838	381,366
Other Long-Term Liabilities	49,844	64,264
Total Deferred Credits and Other Liabilities	984,275	983,608
Capitalization:
Long-Term Debt	1,164,010	1,163,833
Rate Reduction Bonds	432,097	453,702
Common Shareholders' Equity:
Common Shares	0	0
Capital Surplus, Paid In	1,088,134	1,088,134
Retained Earnings	524,142	504,556
Accumulated Other Comprehensive Loss	(25)	23
Common Shareholders' Equity	1,612,251	1,592,713
Commitments and Contingencies (Note 9)
Total Liabilities and Capitalization	$ 4,802,376	$ 4,740,784

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PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Allowance for uncollectible accounts	$ 432,174	$ 417,406
PSNH
Allowance for uncollectible accounts	$ 26,164	$ 24,331

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PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Operating Revenues	$ 3,471,310	$ 2,825,840
Operating Expenses:
Purchased Power, Fuel and Transmission	1,389,696	998,491
Operations and Maintenance	472,433	465,542
Depreciation	289,330	270,704
Energy Efficiency Programs	199,484	188,063
Taxes Other Than Income Taxes	220,364	209,459
Total Operating Expenses	2,808,255	2,240,272
Operating Income/(Loss)	663,055	585,568
Interest Expense	153,245	137,766
Other Income, Net	71,561	34,201
Income Before Income Tax Expense	581,371	482,003
Income Tax Expense	136,045	113,980
Net Income	445,326	368,023
PSNH
Operating Revenues	339,427	293,435
Operating Expenses:
Purchased Power, Fuel and Transmission	125,844	91,609
Operations and Maintenance	59,573	54,664
Depreciation	31,253	29,468
Amortization of Regulatory Assets, Net	26,834	18,547
Energy Efficiency Programs	8,718	10,348
Taxes Other Than Income Taxes	22,785	22,149
Total Operating Expenses	275,007	226,785
Operating Income/(Loss)	64,420	66,650
Interest Expense	13,645	14,630
Other Income, Net	7,509	4,166
Income Before Income Tax Expense	58,284	56,186
Income Tax Expense	12,698	11,510
Net Income	$ 45,586	$ 44,676

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PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Net Income	$ 445,326	$ 368,023
Other Comprehensive Income (Loss), Net of Tax:
Qualified Cash Flow Hedging Instruments	5	407
Changes in Unrealized Losses on Marketable Securities	(817)	(736)
Net OCI	704	1,188
Comprehensive Income Attributable to Common Shareholders	444,150	367,331
PSNH
Net Income	45,586	44,676
Other Comprehensive Income (Loss), Net of Tax:
Qualified Cash Flow Hedging Instruments	0	298
Changes in Unrealized Losses on Marketable Securities	(48)	(43)
Net OCI	(48)	255
Comprehensive Income Attributable to Common Shareholders	$ 45,538	$ 44,931

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PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF COMMON STOCKHOLDER'S EQUITY - USD ($) $ in Thousands	Total	Common Stock	Capital Surplus, Paid In	Retained Earnings	Accumulated Other Comprehensive Loss	PSNH	PSNH Common Stock	PSNH Capital Surplus, Paid In	PSNH Retained Earnings	PSNH Accumulated Other Comprehensive Loss
Balance (in shares) at Dec. 31, 2020		342,954,023					301
Balance at Dec. 31, 2020	$ 14,063,566	$ 1,789,092	$ 8,015,663	$ 4,613,201	$ (76,411)	$ 1,542,539	$ 0	$ 928,134	$ 615,018	$ (613)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	368,023			368,023		44,676			44,676
Dividends on Common Stock	(206,913)			(206,913)		(25,200)			(25,200)
Other Comprehensive (Loss)/Income, Net of Tax	1,188				1,188	255				255
Balance (in shares) at Mar. 31, 2021		343,434,298					301
Balance at Mar. 31, 2021	$ 14,233,420	$ 1,789,092	8,016,118	4,772,431	(75,223)	1,562,270	$ 0	928,134	634,494	(358)
Balance (in shares) at Dec. 31, 2021	344,403,196	344,403,196					301
Balance at Dec. 31, 2021	$ 14,599,844	$ 1,789,092	8,098,514	5,005,391	(42,275)	1,592,713	$ 0	1,088,134	504,556	23
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	445,326			445,326		45,586			45,586
Dividends on Common Stock	(219,768)			(219,768)		(26,000)			(26,000)
Other Comprehensive (Loss)/Income, Net of Tax	$ 704				704	(48)				(48)
Balance (in shares) at Mar. 31, 2022	344,850,272	344,850,272					301
Balance at Mar. 31, 2022	$ 14,836,690	$ 1,789,092	$ 8,102,618	$ 5,229,069	$ (41,571)	$ 1,612,251	$ 0	$ 1,088,134	$ 524,142	$ (25)

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PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Operating Activities:
Net Income	$ 445,326	$ 368,023
Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities:
Depreciation	289,330	270,704
Deferred Income Taxes	67,557	41,917
Uncollectible Expense	17,135	16,295
Regulatory Over/(Underrecoveries), Net	(107,767)	28,024
Pension, SERP and PBOP (Income)/Expense, Net	(40,642)	(2,341)
Cost of Removal Expenditures	(61,660)	(39,333)
Other	(21,409)	(51,913)
Changes in Current Assets and Liabilities:
Receivables and Unbilled Revenues, Net	(291,723)	(124,344)
Materials, Supplies and REC Inventory	(19,495)	(42,494)
Taxes Receivable/Accrued, Net	56,519	64,076
Accounts Payable	(68,909)	(181,725)
Other Current Assets and Liabilities, Net	(44,758)	(42,386)
Net Cash Flows Provided by Operating Activities	371,940	411,416
Investing Activities:
Investments in Property, Plant and Equipment	(764,594)	(688,983)
Other Investing Activities	5,976	7,135
Net Cash Flows Used in Investing Activities	(858,247)	(704,517)
Financing Activities:
Cash Dividends on Common Shares	(213,890)	(201,013)
Retirement of Long-Term Debt	(770,000)	(572,000)
Repayment of Rate Reduction Bonds	(21,605)	(21,605)
Other Financing Activities	(26,087)	(19,666)
Net Cash Flows Provided by/(Used in) Financing Activities	429,888	203,755
Net Decrease in Cash and Restricted Cash	(56,419)	(89,346)
Cash and Restricted Cash - Beginning of Period	221,008	264,950
Cash and Restricted Cash - End of Period	164,589	175,604
PSNH
Operating Activities:
Net Income	45,586	44,676
Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities:
Depreciation	31,253	29,468
Deferred Income Taxes	7,480	(378)
Uncollectible Expense	2,496	1,221
Regulatory Over/(Underrecoveries), Net	(32,186)	(14,645)
Amortization of Regulatory Assets, Net	26,834	18,547
Pension, SERP and PBOP (Income)/Expense, Net	(3,997)	(935)
Cost of Removal Expenditures	(7,131)	(5,154)
Other	(4,631)	(565)
Changes in Current Assets and Liabilities:
Receivables and Unbilled Revenues, Net	(25,972)	3,223
Materials, Supplies and REC Inventory	(6,033)	(2,296)
Taxes Receivable/Accrued, Net	8,067	9,867
Accounts Payable	9,389	(21,025)
Other Current Assets and Liabilities, Net	6,928	12,897
Net Cash Flows Provided by Operating Activities	58,083	74,901
Investing Activities:
Investments in Property, Plant and Equipment	(107,916)	(68,278)
Other Investing Activities	593	137
Net Cash Flows Used in Investing Activities	(107,323)	(68,141)
Financing Activities:
Cash Dividends on Common Shares	(26,000)	(25,200)
Retirement of Long-Term Debt	0	(122,000)
Repayment of Rate Reduction Bonds	(21,605)	(21,605)
Increase in Notes Payable to Eversource Parent	85,800	150,500
Other Financing Activities	(23)	(22)
Net Cash Flows Provided by/(Used in) Financing Activities	38,172	(18,327)
Net Decrease in Cash and Restricted Cash	(11,068)	(11,567)
Cash and Restricted Cash - Beginning of Period	35,126	39,555
Cash and Restricted Cash - End of Period	$ 24,058	$ 27,988

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

3 Months Ended

Mar. 31, 2022

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

A.    Basis of Presentation

Eversource Energy is a public utility holding company primarily engaged, through its wholly-owned regulated utility subsidiaries, in the energy delivery business.  Eversource Energy's wholly-owned regulated utility subsidiaries consist of CL&P, NSTAR Electric and PSNH (electric utilities), Yankee Gas, NSTAR Gas and Eversource Gas Company of Massachusetts (EGMA) (natural gas utilities) and Aquarion (water utilities). Eversource provides energy delivery and/or water service to approximately 4.4 million electric, natural gas and water customers through ten regulated utilities in Connecticut, Massachusetts and New Hampshire.

The unaudited condensed consolidated financial statements of Eversource, NSTAR Electric and PSNH include the accounts of each of their respective subsidiaries.  Intercompany transactions have been eliminated in consolidation.  The accompanying unaudited condensed consolidated financial statements of Eversource, NSTAR Electric and PSNH and the unaudited condensed financial statements of CL&P are herein collectively referred to as the "financial statements."

The combined notes to the financial statements have been prepared pursuant to the rules and regulations of the SEC.  Certain information and footnote disclosures included in annual financial statements prepared in accordance with GAAP have been omitted pursuant to such rules and regulations.  The accompanying financial statements should be read in conjunction with the Combined Notes to Financial Statements included in Item 8, "Financial Statements and Supplementary Data," of the Eversource 2021 Form 10-K, which was filed with the SEC on February 17, 2022. The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.  Actual results could differ from those estimates.

The financial statements contain, in the opinion of management, all adjustments (including normal, recurring adjustments) necessary to present fairly Eversource's, CL&P's, NSTAR Electric's and PSNH's financial position as of March 31, 2022 and December 31, 2021, and the results of operations, comprehensive income, common shareholders' equity and cash flows for the three months ended March 31, 2022 and 2021. The results of operations, comprehensive income and cash flows for the three months ended March 31, 2022 and 2021 are not necessarily indicative of the results expected for a full year.  

CYAPC and YAEC are inactive regional nuclear power companies engaged in the long-term storage of their spent nuclear fuel. Eversource consolidates the operations of CYAPC and YAEC because CL&P's, NSTAR Electric's and PSNH's combined ownership and voting interests in each of these entities is greater than 50 percent.  Intercompany transactions between CL&P, NSTAR Electric, PSNH and the CYAPC and YAEC companies have been eliminated in consolidation of the Eversource financial statements.

Eversource holds several equity ownership interests that are not consolidated and are accounted for under the equity method.

Eversource's utility subsidiaries' electric, natural gas and water distribution and transmission businesses are subject to rate-regulation that is based on cost recovery and meets the criteria for application of accounting guidance for entities with rate-regulated operations, which considers the effect of regulation on the differences in the timing of the recognition of certain revenues and expenses from those of other businesses and industries. See Note 2, "Regulatory Accounting," for further information.

Certain reclassifications of prior period data were made in the accompanying financial statements to conform to the current period presentation.

On May 4, 2022, Eversource announced that it had initiated a strategic review of its offshore wind investment portfolio. As part of that review, Eversource will explore strategic alternatives that could result in a potential sale of all, or part, of its 50 percent interest in its offshore wind partnership with Ørsted. Eversource expects to complete this review during 2022. Eversource’s offshore wind business includes a 50 percent ownership interest in North East Offshore, which holds PPAs and contracts for the Revolution Wind, South Fork Wind and Sunrise Wind projects, as well as undeveloped offshore lease area. As of March 31, 2022 and December 31, 2021, Eversource's total equity investment balance in its offshore wind business was $1.33 billion and $1.21 billion, respectively. Eversource’s initiation of the strategic review of its offshore wind investment does not impact the March 31, 2022 financial statements, and at this time, Eversource cannot predict the ultimate outcome or estimate the potential impact of such review.

B.    Allowance for Uncollectible Accounts

Receivables, Net on the balance sheets primarily includes trade receivables from retail customers and customers related to wholesale transmission contracts, wholesale market sales, sales of RECs, and property rentals. Receivables, Net also includes customer receivables for the purchase of electricity from a competitive third party supplier, the current portion of customer energy efficiency loans, property damage receivables and other miscellaneous receivables. There is no material concentration of receivables. Receivables are recorded at amortized cost, net of a credit loss provision (or allowance for uncollectible accounts).

Receivables are presented net of expected credit losses at estimated net realizable value by maintaining an allowance for uncollectible accounts. The current expected credit loss (CECL) model is applied to receivables for purposes of calculating the allowance for uncollectible accounts. This model is based on expected losses and results in the recognition of estimated expected credit losses, including uncollectible amounts for both billed and unbilled revenues, over the life of the receivable at the time a receivable is recorded.

The allowance for uncollectible accounts is determined based upon a variety of judgments and factors, including an aging-based quantitative assessment that applies an estimated uncollectible percentage to each receivable aging category.  Factors in determining credit loss include historical collection, write-off experience, analysis of delinquency statistics, and management's assessment of collectability from customers, including current conditions, customer payment trends, the impact on customer bills because of energy usage trends and changes in rates, flexible payment plans and financial hardship arrearage management programs being offered to customers, reasonable forecasts, and expectations of future collectability and collection efforts. Management continuously assesses the collectability of receivables and adjusts estimates based on actual experience and future expectations based on economic conditions, collection efforts and other factors.  Management also monitors the aging analysis of receivables to determine if there are changes in the collections of accounts receivable. Receivable balances are written off against the allowance for uncollectible accounts when the customer accounts are no longer in service and these balances are deemed to be uncollectible. Management concluded that the reserve balance as of March 31, 2022 adequately reflected the collection risk and net realizable value for its receivables.

As of March 31, 2022 and December 31, 2021, the total amount incurred as a result of COVID-19 included in the allowance for uncollectible accounts was $58.5 million and $55.3 million at Eversource, $20.4 million and $23.9 million at CL&P, and $9.0 million and $9.0 million at NSTAR Electric, respectively. At our Connecticut and Massachusetts utilities, the COVID-19 related uncollectible amounts were deferred either as incremental regulatory costs or deferred through existing regulatory tracking mechanisms that recover uncollectible energy supply costs, as management believes it is probable that these costs will ultimately be recovered from customers in future rates. No COVID-19 related uncollectible amounts were deferred at PSNH as a result of a July 2021 NHPUC order. Based on the status of our COVID-19 regulatory dockets, and policies and practices in the jurisdictions in which we operate, we believe our state regulatory commissions in Connecticut and Massachusetts will allow us to recover our incremental uncollectible customer receivable costs associated with COVID-19.

The PURA allows CL&P and Yankee Gas to accelerate the recovery of accounts receivable balances attributable to qualified customers under financial or medical duress (uncollectible hardship accounts receivable) outstanding for greater than 180 days and 90 days, respectively.  The DPU allows NSTAR Electric, NSTAR Gas and EGMA to recover in rates amounts associated with certain uncollectible hardship accounts receivable. These uncollectible hardship customer account balances are included in Regulatory Assets or Other Long-Term Assets on the balance sheets. Hardship customers are protected from shut-off in certain circumstances, and historical collection experience has reflected a higher default risk as compared to the rest of the receivable population. Management uses a higher credit risk profile for this pool of trade receivables as compared to non-hardship receivables. The allowance for uncollectible hardship accounts is included in the total uncollectible allowance balance.

The total allowance for uncollectible accounts is included in Receivables, Net on the balance sheets. The activity in the allowance for uncollectible accounts by portfolio segment as of March 31st is as follows:

	Eversource						CL&P						NSTAR Electric						PSNH
(Millions of Dollars)	Hardship Accounts		Retail (Non-Hardship), Wholesale, and Other		Total Allowance		Hardship Accounts		Retail (Non-Hardship), Wholesale, and Other		Total Allowance		Hardship Accounts		Retail (Non-Hardship), Wholesale, and Other		Total Allowance		Total Allowance
Three Months Ended 2022
Beginning Balance	$	226.1	$	191.3	$	417.4	$	144.6	$	36.7	$	181.3	$	43.3	$	53.7	$	97.0	$	24.3
Uncollectible Expense	—		17.1		17.1		—		3.8		3.8		—		4.7		4.7		2.5
Uncollectible Costs Deferred (1)	0.9		14.8		15.7		(4.0)		(2.1)		(6.1)		(3.3)		5.4		2.1		1.0
Write-Offs	(2.3)		(22.0)		(24.3)		(1.1)		(0.5)		(1.6)		(0.3)		(10.6)		(10.9)		(1.8)
Recoveries Collected	0.8		5.5		6.3		0.6		2.5		3.1		—		1.9		1.9		0.2
Ending Balance	$	225.5	$	206.7	$	432.2	$	140.1	$	40.4	$	180.5	$	39.7	$	55.1	$	94.8	$	26.2

Three Months Ended 2021
Beginning Balance	$	194.8	$	164.1	$	358.9	$	129.1	$	28.3	$	157.4	$	39.7	$	51.9	$	91.6	$	17.2
Uncollectible Expense	—		16.3		16.3		—		3.8		3.8		—		3.9		3.9		1.2
Uncollectible Costs Deferred (1)	5.4		27.1		32.5		11.9		7.5		19.4		(8.5)		8.4		(0.1)		1.2
Write-Offs	(3.3)		(16.7)		(20.0)		(2.9)		(4.0)		(6.9)		(0.1)		(7.5)		(7.6)		(2.5)
Recoveries Collected	0.4		3.6		4.0		0.3		1.1		1.4		—		1.5		1.5		0.2
Ending Balance	$	197.3	$	194.4	$	391.7	$	138.4	$	36.7	$	175.1	$	31.1	$	58.2	$	89.3	$	17.3

(1) These expected credit losses are deferred as regulatory costs on the balance sheets, as these amounts are ultimately recovered in rates. Amounts include uncollectible costs for hardship accounts and other customer receivables, including uncollectible amounts related to uncollectible energy supply costs and COVID-19.

C.    Fair Value Measurements

Fair value measurement guidance is applied to derivative contracts that are not elected or designated as "normal purchases" or "normal sales" (normal) and to the marketable securities held in trusts.  Fair value measurement guidance is also applied to valuations of the investments used to calculate the funded status of pension and PBOP plans, the nonrecurring fair value measurements of nonfinancial assets such as goodwill, long-lived assets, equity method investments, AROs, and in the valuation of acquisitions. The fair value measurement guidance was also applied in estimating the fair value of preferred stock, long-term debt and RRBs.

Fair Value Hierarchy:  In measuring fair value, Eversource uses observable market data when available in order to minimize the use of unobservable inputs.  Inputs used in fair value measurements are categorized into three fair value hierarchy levels for disclosure purposes.  The entire fair value measurement is categorized based on the lowest level of input that is significant to the fair value measurement.  Eversource evaluates the classification of assets and liabilities measured at fair value on a quarterly basis. The levels of the fair value hierarchy are described below:

Level 1 - Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities as of the reporting date.  Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis.  

Level 2 - Inputs are quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-derived valuations in which all significant inputs are observable.

Level 3 - Quoted market prices are not available.  Fair value is derived from valuation techniques in which one or more significant inputs or assumptions are unobservable.  Where possible, valuation techniques incorporate observable market inputs that can be validated to external sources such as industry exchanges, including prices of energy and energy-related products.  

Uncategorized - Investments that are measured at net asset value are not categorized within the fair value hierarchy.

Determination of Fair Value:  The valuation techniques and inputs used in Eversource's fair value measurements are described in Note 4, "Derivative Instruments," Note 5, "Marketable Securities," and Note 10, "Fair Value of Financial Instruments," to the financial statements.

D.    Other Income, Net

The components of Other Income, Net on the statements of income were as follows:

	For the Three Months Ended
	March 31, 2022								March 31, 2021
(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric		PSNH
Pension, SERP and PBOP Non-Service    Income Components	$	54.3	$	15.9	$	21.0	$	6.6	$	20.1	$	2.7	$	10.1	$	2.7
AFUDC Equity	9.9		2.8		4.9		0.4		9.2		1.7		6.2		0.6
Equity in Earnings of Unconsolidated Affiliates	0.4		—		—		—		3.7		—		0.1		—
Investment (Loss)/Income	(0.2)		(0.4)		(0.3)		0.2		(0.6)		0.4		0.2		0.1
Interest Income	6.7		1.3		3.5		0.3		1.5		0.1		0.1		0.7
Other	0.5		—		0.1		—		0.3		—		0.1		0.1
Total Other Income, Net	$	71.6	$	19.6	$	29.2	$	7.5	$	34.2	$	4.9	$	16.8	$	4.2

E.    Other Taxes

Eversource's companies that serve customers in Connecticut collect gross receipts taxes levied by the state of Connecticut from their customers. These gross receipts taxes are recorded separately with collections in Operating Revenues and with payments in Taxes Other Than Income Taxes on the statements of income as follows:

	For the Three Months Ended
(Millions of Dollars)	March 31, 2022		March 31, 2021
Eversource	$	48.6	$	48.6
CL&P	37.8		39.2

As agents for state and local governments, Eversource's companies that serve customers in Connecticut and Massachusetts collect certain sales taxes that are recorded on a net basis with no impact on the statements of income. 

F.    Supplemental Cash Flow Information

Non-cash investing activities include plant additions included in Accounts Payable as follows:

(Millions of Dollars)	As of March 31, 2022		As of March 31, 2021
Eversource	$	385.6	$	262.9
CL&P	102.1		70.9
NSTAR Electric	85.8		68.2
PSNH	49.5		23.5

The following table reconciles cash as reported on the balance sheets to the cash and restricted cash balance as reported on the statements of cash flows:

	As of March 31, 2022								As of December 31, 2021
(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric		PSNH
Cash as reported on the Balance Sheets	$	46.2	$	21.6	$	0.7	$	3.8	$	66.8	$	55.8	$	0.7	$	—
Restricted cash included in:
Special Deposits	73.3		8.7		17.3		16.6		78.2		18.7		17.4		31.4
Marketable Securities	26.0		0.3		0.1		0.5		31.3		0.3		0.1		0.5
Other Long-Term Assets	19.1		—		—		3.2		44.7		—		—		3.2
Cash and Restricted Cash as reported on the     Statements of Cash Flows	$	164.6	$	30.6	$	18.1	$	24.1	$	221.0	$	74.8	$	18.2	$	35.1

Special Deposits represent cash collections related to the PSNH RRB customer charges that are held in trust, required ISO-NE cash deposits, and CYAPC and YAEC cash balances. The December 31, 2021 balance also included a $10 million customer assistance fund to provide bill payment assistance to certain existing non-hardship and hardship customers carrying arrearages at CL&P established under the terms of the PURA-approved October 2021 settlement agreement. Those customers were provided with $10 million of bill forgiveness in the first quarter of 2022, which represented a non-cash transaction. Special Deposits are included in Current Assets on the balance sheets. Restricted cash included in Marketable Securities represents money market funds held in trusts to fund certain non-qualified executive benefits and restricted trusts to fund CYAPC and YAEC's spent nuclear fuel storage obligations.

Restricted cash also includes an Energy Relief Fund for energy efficiency and clean energy measures in the Merrimack Valley and an additional energy efficiency program established under the terms of the EGMA 2020 settlement agreement. As of March 31, 2022, $20.0 million of this restricted cash was recorded as short-term in Special Deposits and $15.9 million was recorded in Other Long-Term Assets. As of December 31, 2021, this restricted cash totaled $41.5 million and was recorded in Other Long-Term Assets on the balance sheet.

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REGULATORY ACCOUNTING

3 Months Ended

Mar. 31, 2022

Regulated Operations [Abstract]

REGULATORY ACCOUNTING

REGULATORY ACCOUNTING

Eversource's utility companies are subject to rate regulation that is based on cost recovery and meets the criteria for application of accounting guidance for rate-regulated operations, which considers the effect of regulation on the timing of the recognition of certain revenues and expenses. The regulated companies' financial statements reflect the effects of the rate-making process.  The rates charged to the customers of Eversource's regulated companies are designed to collect each company's costs to provide service, plus a return on investment.

The application of accounting guidance for rate-regulated enterprises results in recording regulatory assets and liabilities. Regulatory assets represent the deferral of incurred costs that are probable of future recovery in customer rates. Regulatory assets are amortized as the incurred costs are recovered through customer rates. Regulatory liabilities represent either revenues received from customers to fund expected costs that have not yet been incurred or probable future refunds to customers.

Management believes it is probable that each of the regulated companies will recover its respective investments in long-lived assets and the regulatory assets that have been recorded.  If management were to determine that it could no longer apply the accounting guidance applicable to rate-regulated enterprises, or if management could not conclude it is probable that costs would be recovered from customers in future rates, the applicable costs would be charged to net income in the period in which the determination is made.

Regulatory Assets:  The components of regulatory assets were as follows:

	As of March 31, 2022								As of December 31, 2021
(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric		PSNH
Benefit Costs	$	1,452.5	$	268.0	$	386.9	$	116.5	$	1,481.0	$	272.4	$	395.5	$	118.9
Storm Costs, Net	1,249.3		735.7		449.4		64.2		1,102.7		695.6		341.3		65.8
Regulatory Tracking Mechanisms	937.7		295.2		375.0		97.0		1,050.5		333.6		376.6		85.4
Income Taxes, Net	791.2		471.8		112.8		14.5		790.7		470.5		112.6		17.5
Securitized Stranded Costs	468.1		—		—		468.1		478.9		—		—		478.9
Goodwill-related	293.6		—		252.1		—		297.8		—		255.7		—
Derivative Liabilities	229.4		229.4		—		—		249.2		249.2		—		—
Asset Retirement Obligations	117.5		34.2		61.9		4.2		115.0		33.6		59.8		4.1
Other Regulatory Assets	162.1		28.9		35.4		14.7		150.0		29.9		37.7		15.8
Total Regulatory Assets	5,701.4		2,063.2		1,673.5		779.2		5,715.8		2,084.8		1,579.2		786.4
Less:  Current Portion	1,128.1		382.1		433.7		124.7		1,129.1		371.6		444.0		107.2
Total Long-Term Regulatory Assets	$	4,573.3	$	1,681.1	$	1,239.8	$	654.5	$	4,586.7	$	1,713.2	$	1,135.2	$	679.2

Regulatory Costs in Long-Term Assets:  Eversource's regulated companies had $262.5 million (including $113.4 million for CL&P, $84.2 million for NSTAR Electric and $3.4 million for PSNH) and $252.5 million (including $114.9 million for CL&P, $85.0 million for NSTAR Electric and $3.4 million for PSNH) of additional regulatory costs as of March 31, 2022 and December 31, 2021, respectively, that were included in long-term assets on the balance sheets.  These amounts represent incurred costs for which recovery has not yet been specifically approved by the applicable regulatory agency.  However, based on regulatory policies or past precedent on similar costs, management believes it is probable that these costs will ultimately be approved and recovered from customers in rates.

As of March 31, 2022 and December 31, 2021, these regulatory costs included incremental COVID-19 related non-tracked uncollectible expense deferred of $35.0 million and $33.0 million at Eversource, $15.3 million and $18.0 million at CL&P, and $6.1 million and $6.1 million at NSTAR Electric, respectively.

Regulatory Liabilities:  The components of regulatory liabilities were as follows:

	As of March 31, 2022								As of December 31, 2021
(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric		PSNH
EDIT due to Tax Cuts and Jobs Act of 2017	$	2,665.7	$	992.7	$	973.3	$	356.1	$	2,685.2	$	996.1	$	984.5	$	359.2
Cost of Removal	667.2		108.6		388.2		19.1		649.6		100.1		381.0		17.2
Regulatory Tracking Mechanisms	571.8		226.7		237.2		94.9		448.4		182.0		185.1		107.0
Benefit Costs	128.3		—		103.1		—		133.5		—		107.4		—
AFUDC - Transmission	85.1		44.0		41.1		—		81.0		43.2		37.8		—
CL&P Settlement Agreement and Storm   Performance Penalty	12.9		12.9		—		—		81.3		81.3		—		—
Other Regulatory Liabilities	416.2		75.0		107.4		25.1		389.7		57.1		91.5		18.2
Total Regulatory Liabilities	4,547.2		1,459.9		1,850.3		495.2		4,468.7		1,459.8		1,787.3		501.6
Less:  Current Portion	652.4		251.6		279.3		106.4		602.4		266.5		228.2		120.2
Total Long-Term Regulatory Liabilities	$	3,894.8	$	1,208.3	$	1,571.0	$	388.8	$	3,866.3	$	1,193.3	$	1,559.1	$	381.4

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PROPERTY, PLANT AND EQUIPMENT AND ACCUMULATED DEPRECIATION

3 Months Ended

Mar. 31, 2022

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT AND ACCUMULATED DEPRECIATION

PROPERTY, PLANT AND EQUIPMENT AND ACCUMULATED DEPRECIATION

The following tables summarize property, plant and equipment by asset category:

Eversource	As of March 31, 2022		As of December 31, 2021
(Millions of Dollars)
Distribution - Electric	$	17,809.0	$	17,679.1
Distribution - Natural Gas	6,713.7		6,694.8
Transmission - Electric	13,011.0		12,882.4
Distribution - Water	1,924.9		1,900.9
Solar	200.9		200.9
Utility	39,659.5		39,358.1
Other (1)	1,509.6		1,469.5
Property, Plant and Equipment, Gross	41,169.1		40,827.6
Less:  Accumulated Depreciation
Utility	(8,976.2)		(8,885.2)
Other	(609.8)		(580.1)
Total Accumulated Depreciation	(9,586.0)		(9,465.3)
Property, Plant and Equipment, Net	31,583.1		31,362.3
Construction Work in Progress	2,269.5		2,015.4
Total Property, Plant and Equipment, Net	$	33,852.6	$	33,377.7

	As of March 31, 2022						As of December 31, 2021
(Millions of Dollars)	CL&P		NSTAR Electric		PSNH		CL&P		NSTAR Electric		PSNH
Distribution - Electric	$	7,188.9	$	8,151.1	$	2,509.3	$	7,117.6	$	8,105.5	$	2,496.2
Transmission - Electric	5,912.5		5,137.1		1,963.1		5,859.0		5,090.5		1,934.6
Solar	—		200.9		—		—		200.9		—
Property, Plant and Equipment, Gross	13,101.4		13,489.1		4,472.4		12,976.6		13,396.9		4,430.8
Less:  Accumulated Depreciation	(2,592.6)		(3,271.8)		(912.8)		(2,572.1)		(3,227.3)		(908.4)
Property, Plant and Equipment, Net	10,508.8		10,217.3		3,559.6		10,404.5		10,169.6		3,522.4
Construction Work in Progress	432.2		791.6		163.0		399.0		707.0		134.1
Total Property, Plant and Equipment, Net	$	10,941.0	$	11,008.9	$	3,722.6	$	10,803.5	$	10,876.6	$	3,656.5

(1)    These assets are primarily comprised of computer software, hardware and equipment at Eversource Service and buildings at The Rocky River Realty Company.

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DERIVATIVE INSTRUMENTS

3 Months Ended

Mar. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

DERIVATIVE INSTRUMENTS

DERIVATIVE INSTRUMENTS

The electric and natural gas companies purchase and procure energy and energy-related products, which are subject to price volatility, for their customers.  The costs associated with supplying energy to customers are recoverable from customers in future rates.  These regulated companies manage the risks associated with the price volatility of energy and energy-related products through the use of derivative and non-derivative contracts.  

Many of the derivative contracts meet the definition of, and are designated as, normal and qualify for accrual accounting under the applicable accounting guidance.  The costs and benefits of derivative contracts that meet the definition of normal are recognized in Operating Expenses on the statements of income as electricity or natural gas is delivered.

Derivative contracts that are not designated as normal are recorded at fair value as current or long-term Derivative Assets or Derivative Liabilities on the balance sheets.  For the electric and natural gas companies, regulatory assets or regulatory liabilities are recorded to offset the fair values of derivatives, as contract settlement amounts are recovered from, or refunded to, customers in their respective energy supply rates.  

The gross fair values of derivative assets and liabilities with the same counterparty are offset and reported as net Derivative Assets or Derivative Liabilities, with current and long-term portions, on the balance sheets.  The following table presents the gross fair values of contracts, categorized by risk type, and the net amounts recorded as current or long-term derivative assets or liabilities:

		As of March 31, 2022						As of December 31, 2021
CL&P (Millions of Dollars)	Fair Value Hierarchy	Commodity Supply and Price Risk Management		Netting (1)		Net Amount Recorded as a Derivative		Commodity Supply and Price Risk Management		Netting (1)		Net Amount Recorded as a Derivative
Current Derivative Assets	Level 3	$	14.8	$	(0.4)	$	14.4	$	14.7	$	(1.0)	$	13.7
Long-Term Derivative Assets	Level 3	41.4		(1.3)		40.1		46.9		(0.9)		46.0
Current Derivative Liabilities	Level 3	(74.4)		—		(74.4)		(73.5)		—		(73.5)
Long-Term Derivative Liabilities	Level 3	(209.5)		—		(209.5)		(235.4)		—		(235.4)

    

(1)    Amounts represent derivative assets and liabilities that Eversource elected to record net on the balance sheets.  These amounts are subject to master netting agreements or similar agreements for which the right of offset exists.

Derivative Contracts at Fair Value with Offsetting Regulatory Amounts

Commodity Supply and Price Risk Management:  As required by regulation, CL&P, along with UI, has capacity-related contracts with generation facilities.  CL&P has a sharing agreement with UI, with 80 percent of the costs or benefits of each contract borne by or allocated to CL&P and 20 percent borne by or allocated to UI.  The combined capacities of these contracts as of both March 31, 2022 and December 31, 2021 were 675 MW. The capacity contracts extend through 2026 and obligate both CL&P and UI to make or receive payments on a monthly basis to or from the generation facilities based on the difference between a set capacity price and the capacity market price received in the ISO-NE capacity markets. 

For the three months ended March 31, 2022 and 2021, there were gains of $6.2 million and losses of $11.1 million, respectively, deferred as regulatory costs, which reflect the change in fair value associated with Eversource's derivative contracts.

Fair Value Measurements of Derivative Instruments

The fair value of derivative contracts classified as Level 3 utilizes both significant observable and unobservable inputs.  The fair value is modeled using income techniques, such as discounted cash flow valuations adjusted for assumptions related to exit price.  Valuations of derivative contracts using a discounted cash flow methodology include assumptions regarding the timing and likelihood of scheduled payments and also reflect non-performance risk, including credit, using the default probability approach based on the counterparty's credit rating for assets and the Company's credit rating for liabilities.  Significant observable inputs for valuations of these contracts include energy-related product prices in future years for which quoted prices in an active market exist. Valuations incorporate estimates of premiums or discounts that would be required by a market participant to arrive at an exit price, using historical market transactions adjusted for the terms of the contract.  Fair value measurements categorized in Level 3 of the fair value hierarchy are prepared by individuals with expertise in valuation techniques, pricing of energy-related products, and accounting requirements.

The following is a summary of the significant unobservable inputs utilized in the valuations of the derivative contracts classified as Level 3:

	As of March 31, 2022								As of December 31, 2021
CL&P	Range				Average			Period Covered	Range				Average			Period Covered
Forward Reserve Prices	$	0.50	—	$1.15	$	0.82	per kW-Month	2022 - 2024	$	0.50	—	$1.15	$	0.82	per kW-Month	2022 - 2024

Exit price premiums of 4.5 percent through 8.8 percent, or a weighted average of 7.7 percent, are also Level 3 significant unobservable inputs applied to these contracts and reflect the uncertainty and illiquidity premiums that would be required based on the most recent market activity available for similar type contracts. The risk premium was weighted by the relative fair value of the net derivative instruments.

As of December 31, 2021, Level 3 unobservable inputs also utilized in the valuation of CL&P’s capacity-related contracts included capacity prices of $2.61 per kW-Month over the period 2025 through 2026. As of March 31, 2022, these capacity price inputs are now observable.

Significant increases or decreases in future capacity or forward reserve prices in isolation would decrease or increase, respectively, the fair value of the derivative liability.  Any increases in risk premiums would increase the fair value of the derivative liability.  Changes in these fair values are recorded as a regulatory asset or liability and do not impact net income.  

The following table presents changes in the Level 3 category of derivative assets and derivative liabilities measured at fair value on a recurring basis.  The derivative assets and liabilities are presented on a net basis.

CL&P	For the Three Months Ended March 31,
(Millions of Dollars)	2022		2021
Derivatives, Net:
Fair Value as of Beginning of Period	$	(249.2)	$	(293.1)
Net Realized/Unrealized Gains/(Losses) Included in Regulatory Assets	6.2		(12.5)
Settlements	13.6		12.5
Fair Value as of End of Period	$	(229.4)	$	(293.1)

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MARKETABLE SECURITIES

3 Months Ended

Mar. 31, 2022

Investments, Debt and Equity Securities [Abstract]

MARKETABLE SECURITIES

MARKETABLE SECURITIES

Eversource holds marketable securities that are primarily used to fund certain non-qualified executive benefits.  The trusts that hold these marketable securities are not subject to regulatory oversight by state or federal agencies.  Eversource’s marketable securities also include CYAPC and YAEC legally restricted trusts that each hold equity and available-for-sale debt securities to fund the spent nuclear fuel removal obligations of their nuclear fuel storage facilities. Equity and available-for-sale debt marketable securities are recorded at fair value, with the current portion recorded in Prepayments and Other Current Assets and the long-term portion recorded in Marketable Securities on the balance sheets.

Equity Securities: Unrealized gains and losses on equity securities held in Eversource's non-qualified executive benefit trust are recorded in Other Income, Net on the statements of income. The fair value of these equity securities as of March 31, 2022 and December 31, 2021 was $31.5 million and $40.2 million, respectively.  For the three months ended March 31, 2022 and 2021, there were unrealized losses of $4.4 million and unrealized gains of $1.1 million recorded in Other Income, Net related to these equity securities, respectively.

Eversource's equity securities also include CYAPC's and YAEC's marketable securities held in spent nuclear fuel trusts, which had fair values of $195.5 million and $214.0 million as of March 31, 2022 and December 31, 2021, respectively.  Unrealized gains and losses for these spent nuclear fuel trusts are subject to regulatory accounting treatment and are recorded in Marketable Securities with the corresponding offset to long-term liabilities on the balance sheets, with no impact on the statements of income.

Available-for-Sale Debt Securities: The following is a summary of the available-for-sale debt securities:

	As of March 31, 2022								As of December 31, 2021
Eversource (Millions of Dollars)	Amortized Cost		Pre-Tax Unrealized Gains		Pre-Tax Unrealized Losses		Fair Value		Amortized Cost		Pre-Tax Unrealized Gains		Pre-Tax Unrealized Losses		Fair Value
Debt Securities	$	211.4	$	0.5	$	(3.6)	$	208.3	$	214.5	$	5.1	$	(0.2)	$	219.4

Eversource's debt securities include CYAPC's and YAEC's marketable securities held in spent nuclear fuel trusts in the amounts of $183.4 million and $189.9 million as of March 31, 2022 and December 31, 2021, respectively.

Unrealized gains and losses on available-for-sale debt securities held in Eversource's non-qualified benefit trust are recorded in Accumulated Other Comprehensive Income, excluding amounts related to credit losses or losses on securities intended to be sold, which are recorded in Other Income, Net. There have been no significant unrealized losses and no credit losses for the three months ended March 31, 2022 and 2021, and no allowance for credit losses as of March 31, 2022. Factors considered in determining whether a credit loss exists include adverse conditions specifically affecting the issuer, the payment history, ratings and rating changes of the security, and the severity of the impairment.  For asset-backed debt securities, underlying collateral and expected future cash flows are also evaluated. Debt securities included in Eversource's non-qualified benefit trust portfolio are investment-grade bonds with a lower default risk based on their credit quality.

As of March 31, 2022, the contractual maturities of available-for-sale debt securities were as follows:

 

Eversource (Millions of Dollars)	Amortized Cost		Fair Value
Less than one year (1)	$	27.0	$	27.0
One to five years	61.9		61.6
Six to ten years	36.3		35.5
Greater than ten years	86.2		84.2
Total Debt Securities	$	211.4	$	208.3

(1)    Amounts in the Less than one year category include securities in the CYAPC and YAEC spent nuclear fuel trusts, which are restricted and are classified in long-term Marketable Securities on the balance sheets.

Realized Gains and Losses:  Realized gains and losses are recorded in Other Income, Net for Eversource's benefit trust and are offset in long-term liabilities for CYAPC and YAEC.  Eversource utilizes the specific identification basis method for the Eversource non-qualified benefit trust, and the average cost basis method for the CYAPC and YAEC spent nuclear fuel trusts to compute the realized gains and losses on the sale of marketable securities.

Fair Value Measurements:  The following table presents the marketable securities recorded at fair value on a recurring basis by the level in which they are classified within the fair value hierarchy:

Eversource (Millions of Dollars)	As of March 31, 2022		As of December 31, 2021
Level 1:
Mutual Funds and Equities	$	227.0	$	254.2
Money Market Funds	26.0		31.3
Total Level 1	$	253.0	$	285.5
Level 2:
U.S. Government Issued Debt Securities (Agency and Treasury)	$	80.0	$	81.3
Corporate Debt Securities	62.5		65.3
Asset-Backed Debt Securities	11.6		12.6
Municipal Bonds	11.7		12.3
Other Fixed Income Securities	16.5		16.6
Total Level 2	$	182.3	$	188.1
Total Marketable Securities	$	435.3	$	473.6

U.S. government issued debt securities are valued using market approaches that incorporate transactions for the same or similar bonds and adjustments for yields and maturity dates.  Corporate debt securities are valued using a market approach, utilizing recent trades of the same or similar instruments and also incorporating yield curves, credit spreads and specific bond terms and conditions.  Asset-backed debt securities include collateralized mortgage obligations, commercial mortgage backed securities, and securities collateralized by auto loans, credit card loans or receivables.  Asset-backed debt securities are valued using recent trades of similar instruments, prepayment assumptions, yield curves, issuance and maturity dates, and tranche information.  Municipal bonds are valued using a market approach that incorporates reported trades and benchmark yields.  Other fixed income securities are valued using pricing models, quoted prices of securities with similar characteristics, and discounted cash flows.

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SHORT-TERM AND LONG-TERM DEBT

3 Months Ended

Mar. 31, 2022

Debt Disclosure [Abstract]

SHORT-TERM AND LONG-TERM DEBT

SHORT-TERM AND LONG-TERM DEBT

Short-Term Debt - Commercial Paper Programs and Credit Agreements: Eversource parent has a $2.00 billion commercial paper program allowing Eversource parent to issue commercial paper as a form of short-term debt. Eversource parent, CL&P, PSNH, NSTAR Gas, Yankee Gas, EGMA and Aquarion Water Company of Connecticut are parties to a five-year $2.00 billion revolving credit facility, which terminates on October 15, 2026. This revolving credit facility serves to backstop Eversource parent's $2.00 billion commercial paper program.  

NSTAR Electric has a $650 million commercial paper program allowing NSTAR Electric to issue commercial paper as a form of short-term debt. NSTAR Electric is also a party to a five-year $650 million revolving credit facility, which terminates on October 15, 2026. The revolving credit facility serves to backstop NSTAR Electric's $650 million commercial paper program.  

The amount of borrowings outstanding and available under the commercial paper programs were as follows:

	Borrowings Outstanding as of				Available Borrowing Capacity as of				Weighted-Average Interest Rate as of
	March 31, 2022		December 31, 2021		March 31, 2022		December 31, 2021		March 31, 2022		December 31, 2021
(Millions of Dollars)
Eversource Parent Commercial Paper Program	$	1,393.8	$	1,343.0	$	606.2	$	657.0	0.93	%	0.31	%
NSTAR Electric Commercial Paper Program	275.0		162.5		375.0		487.5		0.43	%	0.14	%

There were no borrowings outstanding on the revolving credit facilities as of March 31, 2022 or December 31, 2021.

CL&P and PSNH have uncommitted line of credit agreements totaling $450 million and $300 million, respectively, which will expire on May 12, 2022. There are no borrowings outstanding on either the CL&P or PSNH uncommitted line of credit agreements as of March 31, 2022.

Amounts outstanding under the commercial paper programs are included in Notes Payable and classified in current liabilities on the Eversource and NSTAR Electric balance sheets, as all borrowings are outstanding for no more than 364 days at one time.

The Company expects the future operating cash flows of Eversource, CL&P, NSTAR Electric and PSNH, along with existing borrowing availability and access to both debt and equity markets, will be sufficient to meet any working capital and future operating requirements, and capital investment forecasted opportunities.

Intercompany Borrowings: Eversource parent uses its available capital resources to provide loans to its subsidiaries to assist in meeting their short-term borrowing needs. Eversource parent records intercompany interest income from its loans to subsidiaries, which is eliminated in consolidation. Intercompany loans from Eversource parent to its subsidiaries are eliminated in consolidation on Eversource's balance sheets. As of March 31, 2022, there were intercompany loans from Eversource parent to PSNH of $196.4 million and to a subsidiary of NSTAR Electric of $4.0 million. As of December 31, 2021, there were intercompany loans from Eversource parent to PSNH of $110.6 million. Intercompany loans from Eversource parent are included in Notes Payable to Eversource Parent and classified in current liabilities on the respective subsidiary's balance sheets.

Long-Term Debt Issuances and Repayments: The following table summarizes long-term debt issuances and repayments:

(Millions of Dollars)	Issuance/(Repayment)		Issue Date or Repayment Date	Maturity Date	Use of Proceeds for Issuance/ Repayment Information
Eversource Parent 2.90% Series V Senior Notes	$	650.0	February 2022	March 2027	Repaid Series K Senior Notes at maturity and short-term debt
Eversource Parent 3.38% Series W Senior Notes	650.0		February 2022	March 2032	Repaid Series K Senior Notes at maturity and short-term debt
Eversource Parent 2.75% Series K Senior Notes	(750.0)		March 2022	March 2022	Paid at maturity
Yankee Gas 8.48% Series B First Mortgage Bonds	(20.0)		March 2022	March 2022	Paid at maturity

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RATE REDUCTION BONDS AND VARIABLE INTEREST ENTITIES

3 Months Ended

Mar. 31, 2022

Rate Reduction Bonds and Variable Interest Entity [Abstract]

RATE REDUCTION BONDS AND VARIABLE INTEREST ENTITIES

RATE REDUCTION BONDS AND VARIABLE INTEREST ENTITIES

Rate Reduction Bonds: In May 2018, PSNH Funding, a wholly-owned subsidiary of PSNH, issued $635.7 million of securitized RRBs in multiple tranches with a weighted average interest rate of 3.66 percent, and final maturity dates ranging from 2026 to 2035.  The RRBs are expected to be repaid by February 1, 2033. RRB payments consist of principal and interest and are paid semi-annually, beginning on February 1, 2019. The RRBs were issued pursuant to a finance order issued by the NHPUC in January 2018 to recover remaining costs resulting from the divestiture of PSNH’s generation assets.

PSNH Funding was formed solely to issue RRBs to finance PSNH's unrecovered remaining costs associated with the divestiture of its generation assets. PSNH Funding is considered a VIE primarily because the equity capitalization is insufficient to support its operations. PSNH has the power to direct the significant activities of the VIE and is most closely associated with the VIE as compared to other interest holders. Therefore, PSNH is considered the primary beneficiary and consolidates PSNH Funding in its consolidated financial statements.

The following tables summarize the impact of PSNH Funding on PSNH's balance sheets and income statements:

(Millions of Dollars)
PSNH Balance Sheets:	As of March 31, 2022		As of December 31, 2021
Restricted Cash - Current Portion (included in Current Assets)	$	16.3	$	31.1
Restricted Cash - Long-Term Portion (included in Other Long-Term Assets)	3.2		3.2
Securitized Stranded Cost (included in Regulatory Assets)	468.1		478.9
Other Regulatory Liabilities (included in Regulatory Liabilities)	6.0		5.4
Accrued Interest (included in Other Current Liabilities)	2.9		7.5
Rate Reduction Bonds - Current Portion	43.2		43.2
Rate Reduction Bonds - Long-Term Portion	432.1		453.7

(Millions of Dollars) PSNH Income Statements:	For the Three Months Ended
	March 31, 2022		March 31, 2021
Amortization of RRB Principal (included in Amortization of Regulatory Assets, Net)	$	10.8	$	10.8
Interest Expense on RRB Principal (included in Interest Expense)	4.4		4.7

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PENSION BENEFITS AND POSTRETIREMENT BENEFITS OTHER THAN PENSION

3 Months Ended

Mar. 31, 2022

Postemployment Benefits [Abstract]

PENSION BENEFITS AND POSTRETIREMENT BENEFITS OTHER THAN PENSION

PENSION BENEFITS AND POSTRETIREMENT BENEFITS OTHER THAN PENSION

Eversource provides defined benefit retirement plans (Pension Plans) that cover eligible employees.  In addition to the Pension Plans, Eversource maintains non-qualified defined benefit retirement plans (SERP Plans), which provide benefits in excess of Internal Revenue Code limitations to eligible participants consisting of current and retired employees. Eversource also provides defined benefit postretirement plans (PBOP Plans) that provide life insurance and a health reimbursement arrangement created for the purpose of reimbursing retirees and dependents for health insurance premiums and certain medical expenses to eligible employees that meet certain age and service eligibility requirements.

The components of net periodic benefit plan expense/(income) for the Pension, SERP and PBOP Plans, prior to amounts capitalized as Property, Plant and Equipment or deferred as regulatory assets/(liabilities) for future recovery or refund, are shown below.  The service cost component of net periodic benefit plan expense/(income), less the capitalized portion, is included in Operations and Maintenance expense on the statements of income. The remaining components of net periodic benefit plan expense/(income), less the deferred portion, are included in Other Income, Net on the statements of income. Pension, SERP and PBOP expense/(income) reflected in the statements of cash flows for CL&P, NSTAR Electric and PSNH does not include intercompany allocations of net periodic benefit plan expense/(income), as these amounts are cash settled on a short-term basis.

	Pension and SERP								PBOP
	For the Three Months Ended March 31, 2022								For the Three Months Ended March 31, 2022
(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric		PSNH
Service Cost	$	17.7	$	4.5	$	3.6	$	1.8	$	2.8	$	0.5	$	0.5	$	0.2
Interest Cost	38.6		7.8		8.1		4.2		5.0		0.9		1.3		0.5
Expected Return on Plan Assets	(131.7)		(26.6)		(32.0)		(14.1)		(22.4)		(2.8)		(10.6)		(1.6)
Actuarial Losses, net	30.7		4.2		8.5		2.2		—		—		—		—
Prior Service Cost/(Credit)	0.4		—		0.1		—		(5.4)		0.2		(4.3)		0.1
Total Net Periodic Benefit Plan Income	$	(44.3)	$	(10.1)	$	(11.7)	$	(5.9)	$	(20.0)	$	(1.2)	$	(13.1)	$	(0.8)
Intercompany Income Allocations	N/A		$	(3.8)	$	(2.9)	$	(0.8)	N/A		$	(0.9)	$	(0.9)	$	(0.3)

	Pension and SERP								PBOP
	For the Three Months Ended March 31, 2021								For the Three Months Ended March 31, 2021
(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric		PSNH
Service Cost	$	21.3	$	6.3	$	4.0	$	2.2	$	3.5	$	0.6	$	0.6	$	0.3
Interest Cost	32.6		7.3		6.7		3.6		4.4		0.8		1.1		0.5
Expected Return on Plan Assets	(108.9)		(21.6)		(26.9)		(11.9)		(19.7)		(2.6)		(9.3)		(1.5)
Actuarial Loss	61.6		13.0		15.5		4.9		2.6		0.4		0.6		0.3
Prior Service Cost/(Credit)	0.3		—		0.1		—		(5.3)		0.2		(4.2)		0.1
Total Net Periodic Benefit Plan Expense/(Income)	$	6.9	$	5.0	$	(0.6)	$	(1.2)	$	(14.5)	$	(0.6)	$	(11.2)	$	(0.3)
Intercompany Expense/(Income) Allocations	N/A		$	1.3	$	1.5	$	0.5	N/A		$	(0.3)	$	(0.4)	$	(0.1)

Eversource Contributions: Based on the current status of the Pension Plans and federal pension funding requirements, there is no minimum funding requirement for our Pension Plans for 2022. Eversource currently expects to make contributions between $100 million to $175 million in 2022, most of which will be contributed by Eversource Service, however the planned contribution is discretionary and subject to change. Eversource currently estimates contributing $2.4 million to the PBOP Plans in 2022.

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COMMITMENTS AND CONTINGENCIES

3 Months Ended

Mar. 31, 2022

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES

A.    Environmental Matters

Eversource, CL&P, NSTAR Electric and PSNH are subject to environmental laws and regulations intended to mitigate or remove the effect of past operations and improve or maintain the quality of the environment. These laws and regulations require the removal or the remedy of the effect on the environment of the disposal or release of certain specified hazardous substances at current and former operating sites. Eversource, CL&P, NSTAR Electric and PSNH have an active environmental auditing and training program and each believes it is substantially in compliance with all enacted laws and regulations.

The number of environmental sites and related reserves for which remediation or long-term monitoring, preliminary site work or site assessment is being performed are as follows:

	As of March 31, 2022			As of December 31, 2021
	Number of Sites	Reserve (in millions)		Number of Sites	Reserve (in millions)
Eversource	61	$	117.8	61	$	115.4
CL&P	14	14.3		14	13.9
NSTAR Electric	11	3.2		11	3.3
PSNH	9	6.4		9	6.3

Included in the number of sites and reserve amounts above are former MGP sites that were operated several decades ago and manufactured natural gas from coal and other processes, which resulted in certain by-products remaining in the environment that may pose a potential risk to human health and the environment, for which Eversource may have potential liability.  The reserve balances related to these former MGP sites were $108.3 million and $105.6 million as of March 31, 2022 and December 31, 2021, respectively, and related primarily to the natural gas business segment.

These reserve estimates are subjective in nature as they take into consideration several different remediation options at each specific site.  The reliability and precision of these estimates can be affected by several factors, including new information concerning either the level of contamination at the site, the extent of Eversource's, CL&P's, NSTAR Electric's and PSNH's responsibility for remediation or the extent of remediation required, recently enacted laws and regulations or changes in cost estimates due to certain economic factors.  It is possible that new information or future developments could require a reassessment of the potential exposure to required environmental remediation.  As this information becomes available, management will continue to assess the potential exposure and adjust the reserves accordingly.

B.    Long-Term Contractual Arrangements

The following is an update to the current status of long-term contractual arrangements set forth in Note 13B of the Eversource 2021 Form 10-K.

Renewable Energy: Renewable energy contracts include non-cancelable commitments under contracts of NSTAR Electric for the purchase of energy and RECs from renewable energy facilities.

NSTAR Electric
(Millions of Dollars)	2022		2023		2024		2025		2026		Thereafter		Total
Renewable Energy	$	75.6	$	78.3	$	269.4	$	315.8	$	322.1	$	5,812.2	$	6,873.4

The table has been updated to include long-term commitments of NSTAR Electric pertaining to the Vineyard Wind LLC contract awarded under the Massachusetts Clean Energy 83C procurement solicitation. NSTAR Electric, along with other Massachusetts distribution companies, entered into 20-year contracts for this 800 megawatt offshore wind project. Construction on the Vineyard Wind project commenced in 2022. Estimated costs under this contract are expected to begin in 2024 and range between $240 million and $375 million per year under NSTAR Electric’s 20-year contract, totaling approximately $6.0 billion.

C.    Guarantees and Indemnifications

In the normal course of business, Eversource parent provides credit assurances on behalf of its subsidiaries, including CL&P, NSTAR Electric and PSNH, in the form of guarantees. Management does not anticipate a material impact to net income or cash flows as a result of these various guarantees and indemnifications. 

Guarantees issued on behalf of unconsolidated entities, including equity method offshore wind investments, for which Eversource parent is the guarantor, are recorded at fair value as a liability on the balance sheet at the inception of the guarantee. Eversource regularly reviews performance risk under these guarantee arrangements, and in the event it becomes probable that Eversource parent will be required to perform under the guarantee, the amount of probable payment will be recorded. The fair value of guarantees issued on behalf of unconsolidated entities are recorded within Other Long-Term Liabilities on the balance sheet, and were $7.0 million and $7.3 million as of March 31, 2022 and December 31, 2021, respectively.

The following table summarizes Eversource parent's exposure to guarantees and indemnifications of its subsidiaries and affiliates to external parties:  

As of March 31, 2022
Company (Obligor)	Description	Maximum Exposure (in millions)		Expiration Dates
North East Offshore LLC	Construction-related purchase agreements with third-party contractors (1)	$	936.3	(1)
Sunrise Wind LLC	Construction-related purchase agreements with third-party contractors (2)	330.6		2026
Revolution Wind, LLC	Construction-related purchase agreements with third-party contractors (3)	254.7		2024 - 2027
South Fork Wind, LLC	Construction-related purchase agreements with third-party contractors (4)	165.3		2023 - 2026
Eversource Investment LLC	Funding and indemnification obligations of North East Offshore LLC (5)	107.8		(5)
South Fork Wind, LLC	Power Purchase Agreement Security (6)	7.1		(6)
Sunrise Wind LLC	OREC capacity production (7)	2.2		(7)
Bay State Wind LLC	Real estate purchase	2.5		2022
South Fork Wind, LLC	Transmission interconnection	1.2		—
Eversource Investment LLC	Letters of Credit (8)	4.3		—
Various	Surety bonds (9)	35.0		2022 - 2023
Eversource Service	Lease payments for real estate	0.7		2024

(1)    Eversource parent issued guarantees on behalf of its 50 percent-owned affiliate, North East Offshore LLC (NEO), under which Eversource parent agreed to guarantee 50 percent of NEO’s performance of obligations under certain purchase agreements with third-party contactors, in an aggregate amount not to exceed $1.3 billion with an expiration date in 2025. Eversource parent also issued a separate guarantee to Ørsted on behalf of NEO, under which Eversource parent agreed to guarantee 50 percent of NEO’s payment obligations under certain offshore wind project construction-related agreements with Ørsted in an aggregate amount not to exceed $62.5 million and expiring upon full performance of the guaranteed obligation. Any amounts paid under this guarantee to Ørsted will count toward, but not increase, the maximum amount of the Funding Guarantee described in Note 5, below. The guarantee expires upon the full performance of the guaranteed obligations.

(2)     Eversource parent issued a guaranty on behalf of its 50 percent-owned affiliate, Sunrise Wind LLC, whereby Eversource parent will guarantee Sunrise Wind LLC's performance of certain obligations, in an aggregate amount not to exceed $420.6 million, in connection with a construction-related purchase agreement. Eversource parent’s obligations under the guarantee expire upon the earlier of (i) April 2026 and (ii) full performance of the guaranteed obligations.     

(3)    Eversource parent issued guarantees on behalf of its 50 percent-owned affiliate, Revolution Wind, LLC, whereby Eversource parent will guarantee Revolution Wind, LLC's performance of certain obligations, in an aggregate amount not to exceed $268.5 million, in connection with construction-related purchase agreements. Eversource parent’s obligations under the guarantees expire upon the earlier of (i) dates ranging from November 2024 and November 2027 and (ii) full performance of the guaranteed obligations.

(4)    Eversource parent issued guarantees on behalf of its 50 percent-owned affiliate, South Fork Wind, LLC, whereby Eversource parent will guarantee South Fork Wind, LLC's performance of certain obligations in connection with construction-related purchase agreements. Under these guarantees, Eversource parent will guarantee South Fork Wind, LLC's performance of certain obligations, in a total aggregate amount not to exceed $184.0 million. Eversource parent’s obligations under these guarantees expire upon the earlier of (i) dates ranging from June 2023 and August 2026 and (ii) full performance of the guaranteed obligations.

(5)    Eversource parent issued a guarantee (Funding Guarantee) on behalf of Eversource Investment LLC (EI), its wholly-owned subsidiary that holds a 50 percent ownership interest in NEO, under which Eversource parent agreed to guarantee certain funding obligations and certain indemnification payments of EI under the operating agreement of NEO, in an amount not to exceed $910 million. The guaranteed obligations include payment of EI's funding obligations during the construction phase of NEO’s underlying offshore wind projects and indemnification obligations associated with third party credit support for its investment in NEO. Eversource parent’s obligations under the Funding Guarantee expire upon the full performance of the guaranteed obligations.

(6)    Eversource parent issued a guarantee on behalf of its 50 percent-owned affiliate, South Fork Wind, LLC, whereby Eversource parent will guarantee South Fork Wind, LLC's performance of certain obligations, in an amount not to exceed $7.1 million, under a Power Purchase Agreement between the Long Island Power Authority and South Fork Wind, LLC (the Agreement). The guarantee expires upon the later of (i) the end of the Agreement term and (ii) full performance of the guarantee obligations.

(7)    Eversource parent issued a guarantee on behalf of its 50 percent-owned affiliate, Sunrise Wind LLC, whereby Eversource parent will guarantee Sunrise Wind LLC's performance of certain obligations, in an amount not to exceed $15.4 million, under the Offshore Wind Renewable Energy Certificate Purchase and Sale Agreement (the Agreement). The Agreement was executed by and between the New York State Energy Research and Development Authority (NYSERDA) and Sunrise Wind LLC. The guarantee expires upon the full performance of the guaranteed obligations.    

(8)    On September 16, 2020, Eversource parent entered into a guarantee on behalf of EI, which holds Eversource's investments in offshore wind-related equity method investments, under which Eversource parent would guarantee EI's obligations under a letter of credit facility with a financial institution that EI may request in an aggregate amount of up to approximately $25 million. In January 2022, Eversource parent issued two letters of credit on behalf of South Fork Wind, LLC related to future decommissioning obligations of certain onshore transmission assets totaling $4.3 million.

(9)    Surety bond expiration dates reflect termination dates, the majority of which will be renewed or extended.  Certain surety bonds contain credit ratings triggers that would require Eversource parent to post collateral in the event that the unsecured debt credit ratings of Eversource parent are downgraded.

Second Quarter 2022 Guarantees: In April 2022, Eversource parent issued three additional guarantees, two on behalf of Revolution Wind, LLC and one on behalf of South Fork Wind, LLC, whereby Eversource parent will guarantee performance of construction-related purchase agreements in an aggregate amount not to exceed $160.2 million.

D.     Spent Nuclear Fuel Obligations - Yankee Companies

CL&P, NSTAR Electric and PSNH have plant closure and fuel storage cost obligations to the Yankee Companies, which have each completed the physical decommissioning of their respective nuclear power facilities and are now engaged in the long-term storage of their spent fuel. The Yankee Companies fund these costs through litigation proceeds received from the DOE and, to the extent necessary, through wholesale, FERC-approved rates charged under power purchase agreements with several New England utilities, including CL&P, NSTAR Electric and PSNH. CL&P, NSTAR Electric and PSNH, in turn recover these costs from their customers through state regulatory commission-approved retail rates. The Yankee Companies collect amounts that management believes are adequate to recover the remaining plant closure and fuel storage cost estimates for the respective plants. Management believes CL&P and NSTAR Electric will recover their shares of these obligations from their customers. PSNH has recovered its total share of these costs from its customers.

Spent Nuclear Fuel Litigation:

The Yankee Companies have filed complaints against the DOE in the Court of Federal Claims seeking monetary damages resulting from the DOE's failure to accept delivery of, and provide for a permanent facility to store, spent nuclear fuel pursuant to the terms of the 1983 spent fuel and high-level waste disposal contracts between the Yankee Companies and the DOE. The court previously awarded the Yankee Companies damages for Phases I, II, III and IV of litigation resulting from the DOE's failure to meet its contractual obligations. These Phases covered damages incurred in the years 1998 through 2016, and the awarded damages have been received by the Yankee Companies with certain amounts of the damages refunded to their customers.

DOE Phase V Damages - On March 25, 2021, each of the Yankee Companies filed a fifth set of lawsuits against the DOE in the Court of Federal Claims. The Yankee Companies filed claims seeking monetary damages totaling $120.4 million for CYAPC, YAEC and MYAPC, resulting from the DOE's failure to begin accepting spent nuclear fuel for disposal covering the years from 2017 to 2020 (DOE Phase V). The DOE Phase V trial is expected to begin in the third quarter of 2023.

E.    FERC ROE Complaints

Four separate complaints were filed at the FERC by combinations of New England state attorneys general, state regulatory commissions, consumer advocates, consumer groups, municipal parties and other parties (collectively, the Complainants). In each of the first three complaints, filed on October 1, 2011, December 27, 2012, and July 31, 2014, respectively, the Complainants challenged the NETOs' base ROE of 11.14 percent that had been utilized since 2005 and sought an order to reduce it prospectively from the date of the final FERC order and for the separate 15-month complaint periods. In the fourth complaint, filed April 29, 2016, the Complainants challenged the NETOs' base ROE billed of 10.57 percent and the maximum ROE for transmission incentive (incentive cap) of 11.74 percent, asserting that these ROEs were unjust and unreasonable.

The ROE originally billed during the period October 1, 2011 (beginning of the first complaint period) through October 15, 2014 consisted of a base ROE of 11.14 percent and incentives up to 13.1 percent. On October 16, 2014, the FERC set the base ROE at 10.57 percent and the incentive cap at 11.74 percent for the first complaint period. This was also effective for all prospective billings to customers beginning October 16, 2014. This FERC order was vacated on April 14, 2017 by the U.S. Court of Appeals for the D.C. Circuit (the Court).

All amounts associated with the first complaint period have been refunded, which totaled $38.9 million (pre-tax and excluding interest) at Eversource and reflected both the base ROE and incentive cap prescribed by the FERC order. The refund consisted of $22.4 million for CL&P, $13.7 million for NSTAR Electric and $2.8 million for PSNH.

Eversource has recorded a reserve of $39.1 million (pre-tax and excluding interest) for the second complaint period as of both March 31, 2022 and December 31, 2021. This reserve represents the difference between the billed rates during the second complaint period and a 10.57 percent base ROE and 11.74 percent incentive cap. The reserve consisted of $21.4 million for CL&P, $14.6 million for NSTAR Electric and $3.1 million for PSNH as of both March 31, 2022 and December 31, 2021.

On October 16, 2018, FERC issued an order on all four complaints describing how it intends to address the issues that were remanded by the Court. FERC proposed a new framework to determine (1) whether an existing ROE is unjust and unreasonable and, if so, (2) how to calculate a replacement ROE. Initial briefs were filed by the NETOs, Complainants and FERC Trial Staff on January 11, 2019 and reply briefs were filed on March 8, 2019. The NETOs' brief was supportive of the overall ROE methodology determined in the October 16, 2018 order provided the FERC does not change the proposed methodology or alter its implementation in a manner that has a material impact on the results.

The FERC order included illustrative calculations for the first complaint using FERC's proposed frameworks with financial data from that complaint. Those illustrative calculations indicated that for the first complaint period, for the NETOs, which FERC concludes are of average financial risk, the preliminary just and reasonable base ROE is 10.41 percent and the preliminary incentive cap on total ROE is 13.08 percent.

If the results of the illustrative calculations were included in a final FERC order for each of the complaint periods, then a 10.41 percent base ROE and a 13.08 percent incentive cap would not have a significant impact on our financial statements for all of the complaint periods. These preliminary calculations are not binding and do not represent what we believe to be the most likely outcome of a final FERC order.

On November 21, 2019, FERC issued Opinion No. 569 affecting the two pending transmission ROE complaints against the Midcontinent ISO (MISO) transmission owners, in which FERC adopted a new methodology for determining base ROEs. Various parties sought rehearing. On December 23, 2019, the NETOs filed supplementary materials in the NETOs' four pending cases to respond to this new methodology because of the uncertainty of the applicability to the NETOs' cases.

On May 21, 2020, the FERC issued its order in Opinion No. 569-A on the rehearing of the MISO transmission owners' cases, in which FERC again changed its methodology for determining the MISO transmission owners' base ROEs. On November 19, 2020, the FERC issued Opinion No. 569-B denying rehearing of Opinion No. 569-A and reaffirmed the methodology previously adopted in Opinion No. 569-A. The new methodology differs significantly from the methodology proposed by FERC in its October 16, 2018 order to determine the NETOs' base ROEs in its four pending cases. FERC Opinion Nos. 569-A and 569-B are currently under appeal with the Court.

Given the significant uncertainty regarding the applicability of the FERC opinions in the MISO transmission owners' two complaint cases to the NETOs' pending four complaint cases, Eversource concluded that there is no reasonable basis for a change to the reserve or recognized ROEs for any of the complaint periods at this time. As well, Eversource cannot reasonably estimate a range of loss for any of the four complaint proceedings at this time.

Eversource, CL&P, NSTAR Electric and PSNH currently record revenues at the 10.57 percent base ROE and incentive cap at 11.74 percent established in the October 16, 2014 FERC order.

A change of 10 basis points to the base ROE used to establish the reserves would impact Eversource's after-tax earnings by an average of approximately $3 million for each of the four 15-month complaint periods.

F.    Eversource and NSTAR Electric Boston Harbor Civil Action

In 2016, the United States Attorney on behalf of the United States Army Corps of Engineers filed a civil action in the United States District Court for the District of Massachusetts against NSTAR Electric, HEEC, and the Massachusetts Water Resources Authority (together with NSTAR Electric and HEEC, the "Defendants").  The action alleged that the Defendants failed to comply with certain permitting requirements related to the placement of the HEEC-owned electric distribution cable beneath Boston Harbor.

The parties reached a settlement pursuant to which HEEC agreed to install a new 115kV distribution cable across Boston Harbor to Deer Island, utilizing a different route, and remove portions of the existing cable. Construction of the new distribution cable was completed in August 2019, and removal of the portions of the existing cable was completed in January 2020. All issues surrounding the current permit from the United States Army Corps of Engineers are expected to be resolved and remaining restoration efforts completed, at which time such litigation is expected to be dismissed with prejudice.

G.    CL&P Regulatory Matters

CL&P Tropical Storm Isaias Response Investigation: In August 2020, PURA opened a docket to investigate the preparation for and response to Tropical Storm Isaias by Connecticut utilities, including CL&P. On April 28, 2021, PURA issued a final decision on CL&P’s compliance with its emergency response plan that concluded CL&P failed to comply with certain storm performance standards and was imprudent in certain instances. Specifically, PURA concluded that CL&P did not satisfy the performance standards for managing its municipal liaison program, timely removing electrical hazards from blocked roads, communicating critical information to its customers, or meeting its obligation to secure adequate external contractor and mutual aid resources in a timely manner. Based on its findings, PURA ordered CL&P to adjust its future rates in a pending or future rate proceeding to reflect a monetary penalty in the form of a downward adjustment of 90 basis points in its allowed rate of return on equity (ROE), which is currently 9.25 percent. In its decision, PURA explained that additional monetary penalties and further enforcement orders pursuant to Connecticut statute would be considered in a separate proceeding that was initiated on May 6, 2021.

On May 6, 2021, as part of the penalty proceeding, PURA issued a notice of violation that included an assessment of $30 million, consisting of a $28.4 million civil penalty for non-compliance with storm performance standards to be provided as credits on customer bills and a $1.6 million fine for violations of accident reporting requirements to be paid to the State of Connecticut’s general fund. On July 14, 2021, PURA issued a final decision in this penalty proceeding that included an assessment of $28.6 million, maintaining the $28.4 million performance penalty and reducing the $1.6 million fine for accident reporting to $0.2 million. The $28.4 million performance penalty is currently being credited to customers on electric bills beginning on September 1, 2021 over a one-year period. The $28.4 million is the maximum statutory penalty amount under applicable Connecticut law in effect at the time of Tropical Storm Isaias, which is 2.5 percent of CL&P’s annual distribution revenues. In the first quarter of 2021, the liability for the performance penalty of $30 million was recorded as a current regulatory liability on CL&P’s balance sheet and as a charge to Operations and Maintenance expense on the income statement. The after-tax earnings impact of this charge was $0.07 per share. The penalty was subsequently reclassified from Operations and Maintenance expense to a reduction of Operating Revenues in the third quarter of 2021 in connection with the finalization of an October 1, 2021 settlement agreement that was approved by PURA on October 27, 2021.

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FAIR VALUE OF FINANCIAL INSTRUMENTS

3 Months Ended

Mar. 31, 2022

Fair Value Disclosures [Abstract]

FAIR VALUE OF FINANCIAL INSTRUMENTS

FAIR VALUE OF FINANCIAL INSTRUMENTS

The following methods and assumptions were used to estimate the fair value of each of the following financial instruments:

Preferred Stock, Long-Term Debt and Rate Reduction Bonds:  The fair value of CL&P's and NSTAR Electric's preferred stock is based upon pricing models that incorporate interest rates and other market factors, valuations or trades of similar securities and cash flow projections.  The fair value of long-term debt and RRB debt securities is based upon pricing models that incorporate quoted market prices for those issues or similar issues adjusted for market conditions, credit ratings of the respective companies and treasury benchmark yields.  The fair values provided in the table below are classified as Level 2 within the fair value hierarchy.  Carrying amounts and estimated fair values are as follows:

	Eversource				CL&P				NSTAR Electric				PSNH
(Millions of Dollars)	Carrying Amount		Fair Value		Carrying Amount		Fair Value		Carrying Amount		Fair Value		Carrying Amount		Fair Value
As of March 31, 2022:
Preferred Stock Not Subject to Mandatory Redemption	$	155.6	$	158.3	$	116.2	$	115.5	$	43.0	$	42.8	$	—	$	—
Long-Term Debt	18,729.6		18,562.3		4,215.7		4,392.2		3,986.3		4,094.1		1,164.0		1,086.3
Rate Reduction Bonds	475.3		492.8		—		—		—		—		475.3		492.8
As of December 31, 2021:
Preferred Stock Not Subject to Mandatory Redemption	$	155.6	$	166.3	$	116.2	$	122.3	$	43.0	$	44.0	$	—	$	—
Long-Term Debt	18,216.7		19,636.3		4,215.4		4,848.9		3,985.4		4,453.5		1,163.8		1,220.6
Rate Reduction Bonds	496.9		543.3		—		—		—		—		496.9		543.3

Derivative Instruments and Marketable Securities: Derivative instruments and investments in marketable securities are carried at fair value.  For further information, see Note 4, "Derivative Instruments," and Note 5, "Marketable Securities," to the financial statements.  

See Note 1C, "Summary of Significant Accounting Policies – Fair Value Measurements," for the fair value measurement policy and the fair value hierarchy.

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ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS)

3 Months Ended

Mar. 31, 2022

Equity [Abstract]

ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS)

ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS)

The changes in accumulated other comprehensive income/(loss) by component, net of tax, are as follows:

	For the Three Months Ended March 31, 2022								For the Three Months Ended March 31, 2021
Eversource (Millions of Dollars)	Qualified Cash Flow Hedging Instruments		Unrealized Gains/(Losses) on Marketable Securities		Defined Benefit Plans		Total		Qualified Cash Flow Hedging Instruments		Unrealized Gains/(Losses) on Marketable Securities		Defined Benefit Plans		Total
Balance as of Beginning of Period	$	(0.4)	$	0.4	$	(42.3)	$	(42.3)	$	(1.4)	$	1.1	$	(76.1)	$	(76.4)
OCI Before Reclassifications	—		(0.8)		—		(0.8)		—		(0.7)		—		(0.7)
Amounts Reclassified from AOCI	—		—		1.5		1.5		0.4		—		1.5		1.9
Net OCI	—		(0.8)		1.5		0.7		0.4		(0.7)		1.5		1.2
Balance as of End of Period	$	(0.4)	$	(0.4)	$	(40.8)	$	(41.6)	$	(1.0)	$	0.4	$	(74.6)	$	(75.2)

Defined benefit plan OCI amounts before reclassifications relate to actuarial gains and losses that arose during the year and were recognized in AOCI. The unamortized actuarial gains and losses and prior service costs on the defined benefit plans are amortized from AOCI into Other Income, Net over the average future employee service period, and are reflected in amounts reclassified from AOCI.

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COMMON SHARES

3 Months Ended

Mar. 31, 2022

Equity [Abstract]

COMMON SHARES

COMMON SHARES

The following table sets forth the Eversource parent common shares and the shares of common stock of CL&P, NSTAR Electric and PSNH that were authorized and issued, as well as the respective per share par values:  

	Shares
			Authorized as of March 31, 2022 and December 31, 2021	Issued as of
	Par Value			March 31, 2022	December 31, 2021
Eversource	$	5	380,000,000	357,818,402	357,818,402
CL&P	$	10	24,500,000	6,035,205	6,035,205
NSTAR Electric	$	1	100,000,000	200	200
PSNH	$	1	100,000,000	301	301

Treasury Shares: As of March 31, 2022 and December 31, 2021, there were 12,968,130 and 13,415,206 Eversource common shares held as treasury shares, respectively. As of March 31, 2022 and December 31, 2021, there were 344,850,272 and 344,403,196 Eversource common shares outstanding, respectively.

Eversource issues treasury shares to satisfy awards under the Company's incentive plans, shares issued under the dividend reinvestment and share purchase plan, and matching contributions under the Eversource 401k Plan. Eversource also issued treasury shares for its 2021 water business acquisition. The issuance of treasury shares represents a non-cash transaction, as the treasury shares were used to fulfill Eversource's obligations that require the issuance of common shares.COMMON SHAREHOLDERS' EQUITY AND NONCONTROLLING INTERESTSDividends on the preferred stock of CL&P and NSTAR Electric totaled $1.9 million for each of the three months ended March 31, 2022 and 2021. These dividends were presented as Net Income Attributable to Noncontrolling Interests on the Eversource statements of income. Noncontrolling Interest – Preferred Stock of Subsidiaries on the Eversource balance sheets totaled $155.6 million as of March 31, 2022 and December 31, 2021. On the Eversource balance sheets, Common Shareholders' Equity was fully attributable to Eversource parent and Noncontrolling Interest – Preferred Stock of Subsidiaries was fully attributable to the noncontrolling interest.

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COMMON SHAREHOLDERS' EQUITY AND NONCONTROLLING INTERESTS

3 Months Ended

Mar. 31, 2022

Equity [Abstract]

COMMON SHAREHOLDERS' EQUITY AND NONCONTROLLING INTERESTS

COMMON SHARES

The following table sets forth the Eversource parent common shares and the shares of common stock of CL&P, NSTAR Electric and PSNH that were authorized and issued, as well as the respective per share par values:  

	Shares
			Authorized as of March 31, 2022 and December 31, 2021	Issued as of
	Par Value			March 31, 2022	December 31, 2021
Eversource	$	5	380,000,000	357,818,402	357,818,402
CL&P	$	10	24,500,000	6,035,205	6,035,205
NSTAR Electric	$	1	100,000,000	200	200
PSNH	$	1	100,000,000	301	301

Treasury Shares: As of March 31, 2022 and December 31, 2021, there were 12,968,130 and 13,415,206 Eversource common shares held as treasury shares, respectively. As of March 31, 2022 and December 31, 2021, there were 344,850,272 and 344,403,196 Eversource common shares outstanding, respectively.

Eversource issues treasury shares to satisfy awards under the Company's incentive plans, shares issued under the dividend reinvestment and share purchase plan, and matching contributions under the Eversource 401k Plan. Eversource also issued treasury shares for its 2021 water business acquisition. The issuance of treasury shares represents a non-cash transaction, as the treasury shares were used to fulfill Eversource's obligations that require the issuance of common shares.COMMON SHAREHOLDERS' EQUITY AND NONCONTROLLING INTERESTSDividends on the preferred stock of CL&P and NSTAR Electric totaled $1.9 million for each of the three months ended March 31, 2022 and 2021. These dividends were presented as Net Income Attributable to Noncontrolling Interests on the Eversource statements of income. Noncontrolling Interest – Preferred Stock of Subsidiaries on the Eversource balance sheets totaled $155.6 million as of March 31, 2022 and December 31, 2021. On the Eversource balance sheets, Common Shareholders' Equity was fully attributable to Eversource parent and Noncontrolling Interest – Preferred Stock of Subsidiaries was fully attributable to the noncontrolling interest.

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EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2022

Earnings Per Share [Abstract]

EARNINGS PER SHARE

EARNINGS PER SHARE

Basic EPS is computed based upon the weighted average number of common shares outstanding during each period.  Diluted EPS is computed on the basis of the weighted average number of common shares outstanding plus the potential dilutive effect of certain share-based compensation awards as if they were converted into outstanding common shares.  The dilutive effect of unvested RSU and performance share awards is calculated using the treasury stock method.  RSU and performance share awards are included in basic weighted average common shares outstanding as of the date that all necessary vesting conditions have been satisfied. For the three months ended March 31, 2022 and 2021, there were no antidilutive share awards excluded from the computation of diluted EPS.

The following table sets forth the components of basic and diluted EPS:

Eversource (Millions of Dollars, except share information)	For the Three Months Ended
	March 31, 2022		March 31, 2021
Net Income Attributable to Common Shareholders	$	443.4	$	366.1
Weighted Average Common Shares Outstanding:
Basic	345,156,346		343,678,243
Dilutive Effect	504,787		656,446
Diluted	345,661,133		344,334,689
Basic EPS	$	1.28	$	1.07
Diluted EPS	$	1.28	$	1.06

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REVENUES

3 Months Ended

Mar. 31, 2022

Revenue from Contract with Customer [Abstract]

REVENUES

REVENUES

The following tables present operating revenues disaggregated by revenue source:

	For the Three Months Ended March 31, 2022
Eversource (Millions of Dollars)	Electric Distribution		Natural Gas Distribution		Electric Transmission		Water Distribution		Other		Eliminations		Total
Revenues from Contracts with Customers
Retail Tariff Sales
Residential	$	1,186.2	$	556.8	$	—	$	28.2	$	—	$	—	$	1,771.2
Commercial	661.3		257.6		—		14.6		—		(1.1)		932.4
Industrial	89.6		68.1		—		1.1		—		(4.5)		154.3
Total Retail Tariff Sales Revenues	1,937.1		882.5		—		43.9		—		(5.6)		2,857.9
Wholesale Transmission Revenues	—		—		446.2		—		24.4		(364.7)		105.9
Wholesale Market Sales Revenues	365.5		33.5		—		0.8		—		—		399.8
Other Revenues from Contracts with Customers	17.7		1.0		3.8		1.9		359.1		(353.1)		30.4
Amortization of/(Reserve for)     Revenues Subject to Refund (1)	58.4		—		—		(0.4)		—		—		58.0
Total Revenues from Contracts with Customers	2,378.7		917.0		450.0		46.2		383.5		(723.4)		3,452.0
Alternative Revenue Programs	4.8		10.2		(15.0)		2.2		—		13.6		15.8
Other Revenues (2)	2.8		0.4		0.2		0.1		—		—		3.5
Total Operating Revenues	$	2,386.3	$	927.6	$	435.2	$	48.5	$	383.5	$	(709.8)	$	3,471.3

	For the Three Months Ended March 31, 2021
Eversource (Millions of Dollars)	Electric Distribution		Natural Gas Distribution		Electric Transmission		Water Distribution		Other		Eliminations		Total
Revenues from Contracts with Customers
Retail Tariff Sales
Residential	$	1,066.0	$	466.3	$	—	$	27.7	$	—	$	—	$	1,560.0
Commercial	559.9		207.6		—		13.8		—		(1.4)		779.9
Industrial	83.0		55.9		—		1.0		—		(3.5)		136.4
Total Retail Tariff Sales Revenues	1,708.9		729.8		—		42.5		—		(4.9)		2,476.3
Wholesale Transmission Revenues	—		—		394.3		—		19.2		(321.0)		92.5
Wholesale Market Sales Revenues	149.1		26.4		—		0.8		—		—		176.3
Other Revenues from Contracts with Customers	18.2		1.3		3.4		1.2		323.8		(321.3)		26.6
Total Revenues from Contracts with Customers	1,876.2		757.5		397.7		44.5		343.0		(647.2)		2,771.7
Alternative Revenue Programs	23.0		22.8		2.7		1.8		—		2.2		52.5
Other Revenues (2)	1.1		0.2		0.2		0.1		—		—		1.6
Total Operating Revenues	$	1,900.3	$	780.5	$	400.6	$	46.4	$	343.0	$	(645.0)	$	2,825.8

	For the Three Months Ended March 31, 2022						For the Three Months Ended March 31, 2021
(Millions of Dollars)	CL&P		NSTAR Electric		PSNH		CL&P		NSTAR Electric		PSNH
Revenues from Contracts with Customers
Retail Tariff Sales
Residential	$	599.1	$	404.6	$	182.5	$	545.8	$	362.4	$	157.8
Commercial	242.2		331.3		88.4		214.2		268.3		77.8
Industrial	33.5		34.1		22.0		36.7		24.6		21.7
Total Retail Tariff Sales Revenues	874.8		770.0		292.9		796.7		655.3		257.3
Wholesale Transmission Revenues	209.1		165.2		71.9		189.0		147.1		58.2
Wholesale Market Sales Revenues	279.9		57.9		27.7		109.7		24.4		15.0
Other Revenues from Contracts with Customers	7.9		11.6		2.6		7.3		11.7		3.2
Amortization of Revenues Subject to Refund (1)	58.4		—		—		—		—		—
Total Revenues from Contracts with Customers	1,430.1		1,004.7		395.1		1,102.7		838.5		333.7
Alternative Revenue Programs	1.3		(8.2)		(3.3)		8.9		13.8		3.0
Other Revenues (2)	0.1		2.0		0.9		0.2		1.1		—
Eliminations	(145.7)		(135.3)		(53.3)		(124.5)		(116.4)		(43.3)
Total Operating Revenues	$	1,285.8	$	863.2	$	339.4	$	987.3	$	737.0	$	293.4

(1)    Amortization of Revenues Subject to Refund within the Electric Distribution segment in the first quarter of 2022 represents customer credits being distributed to CL&P’s customers on retail electric bills as a result of the October 2021 CL&P settlement agreement and the 2021 civil penalty for non-compliance with storm performance standards. Total customer credits as a result of the 2021 settlement and civil penalty were $93.4 million. The settlement amount of $65 million was refunded over a two-month billing period from December 1, 2021 to January 31, 2022 and the civil penalty of $28.4 million is being refunded over a one year billing period, which began September 1, 2021. (2)    Other Revenues include certain fees charged to customers that are not considered revenue from contracts with customers. Other Revenues also include lease revenues under lessor accounting guidance of $1.0 million (including $0.2 million at CL&P and $0.6 million at NSTAR Electric) and $1.6 million (including $0.2 million at CL&P and $1.1 million at NSTAR Electric) for the three months ended March 31, 2022 and 2021, respectively.

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SEGMENT INFORMATION

3 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

SEGMENT INFORMATION

SEGMENT INFORMATION

Eversource is organized into the Electric Distribution, Electric Transmission, Natural Gas Distribution and Water Distribution reportable segments and Other based on a combination of factors, including the characteristics of each segments' services, the sources of operating revenues and expenses and the regulatory environment in which each segment operates.  These reportable segments represent substantially all of Eversource's total consolidated revenues.  Revenues from the sale of electricity, natural gas and water primarily are derived from residential, commercial and industrial customers and are not dependent on any single customer.  The Electric Distribution reportable segment includes the results of NSTAR Electric's solar power facilities. Eversource's reportable segments are determined based upon the level at which Eversource's chief operating decision maker assesses performance and makes decisions about the allocation of company resources.

The remainder of Eversource's operations is presented as Other in the tables below and primarily consists of 1) the equity in earnings of Eversource parent from its subsidiaries and intercompany interest income, both of which are eliminated in consolidation, and interest expense related to the debt of Eversource parent, 2) the revenues and expenses of Eversource Service, most of which are eliminated in consolidation, 3) the operations of CYAPC and YAEC, 4) the results of other unregulated subsidiaries, which are not part of its core business, and 5) Eversource parent's equity ownership interests that are not consolidated, which primarily include the offshore wind business, a natural gas pipeline owned by Enbridge, Inc., and a renewable energy investment fund.

In the ordinary course of business, Yankee Gas, NSTAR Gas and EGMA purchase natural gas transmission services from the Enbridge, Inc. natural gas pipeline project described above. These affiliate transaction costs total $77.7 million annually and are classified as Purchased Power, Fuel and Transmission on the Eversource statements of income.

Each of Eversource's subsidiaries, including CL&P, NSTAR Electric and PSNH, has one reportable segment.

Cash flows used for investments in plant included in the segment information below are cash capital expenditures that do not include amounts incurred but not paid, cost of removal, AFUDC related to equity funds, and the capitalized portions of pension and PBOP expense.   

Eversource's segment information is as follows:

	For the Three Months Ended March 31, 2022
Eversource (Millions of Dollars)	Electric Distribution		Natural Gas Distribution		Electric Transmission		Water Distribution		Other		Eliminations		Total
Operating Revenues	$	2,386.3	$	927.6	$	435.2	$	48.5	$	383.5	$	(709.8)	$	3,471.3
Depreciation and Amortization	(351.6)		(51.9)		(81.9)		(12.3)		(30.2)		1.6		(526.3)
Other Operating Expenses	(1,845.6)		(657.3)		(129.3)		(27.1)		(331.4)		708.8		(2,281.9)
Operating Income	$	189.1	$	218.4	$	224.0	$	9.1	$	21.9	$	0.6	$	663.1
Interest Expense	$	(59.4)	$	(15.8)	$	(33.2)	$	(8.2)	$	(46.8)	$	10.1	$	(153.3)
Other Income, Net	47.6		10.1		8.9		2.2		495.9		(493.1)		71.6
Net Income Attributable to Common Shareholders	140.9		164.0		148.5		3.7		468.7		(482.4)		443.4
Cash Flows Used for Investments in Plant	280.5		127.3		266.9		27.8		62.1		—		764.6

	For the Three Months Ended March 31, 2021
Eversource (Millions of Dollars)	Electric Distribution		Natural Gas Distribution		Electric Transmission		Water Distribution		Other		Eliminations		Total
Operating Revenues	$	1,900.3	$	780.5	$	400.6	$	46.4	$	343.0	$	(645.0)	$	2,825.8
Depreciation and Amortization	(221.9)		(45.7)		(73.5)		(11.3)		(27.3)		1.0		(378.7)
Other Operating Expenses	(1,530.5)		(535.8)		(115.4)		(25.1)		(299.5)		644.8		(1,861.5)
Operating Income	$	147.9	$	199.0	$	211.7	$	10.0	$	16.2	$	0.8	$	585.6
Interest Expense	$	(53.3)	$	(13.9)	$	(32.7)	$	(7.9)	$	(41.6)	$	11.6	$	(137.8)
Other Income, Net	20.7		3.9		5.5		1.0		424.1		(421.0)		34.2
Net Income Attributable to Common Shareholders	93.2		147.6		135.4		3.6		394.9		(408.6)		366.1
Cash Flows Used for Investments in Plant	256.6		131.8		225.2		27.6		47.8		—		689.0

The following table summarizes Eversource's segmented total assets:

Eversource (Millions of Dollars)	Electric Distribution		Natural Gas Distribution		Electric Transmission		Water Distribution		Other		Eliminations		Total
As of March 31, 2022	$	25,883.2	$	7,329.7	$	12,757.8	$	2,572.1	$	23,394.3	$	(22,647.9)	$	49,289.2
As of December 31, 2021	25,411.2		7,215.9		12,377.8		2,551.1		22,674.7		(21,738.6)		48,492.1

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

3 Months Ended

Mar. 31, 2022

Accounting Policies [Abstract]

Basis of Presentation

Basis of Presentation

Eversource Energy is a public utility holding company primarily engaged, through its wholly-owned regulated utility subsidiaries, in the energy delivery business.  Eversource Energy's wholly-owned regulated utility subsidiaries consist of CL&P, NSTAR Electric and PSNH (electric utilities), Yankee Gas, NSTAR Gas and Eversource Gas Company of Massachusetts (EGMA) (natural gas utilities) and Aquarion (water utilities). Eversource provides energy delivery and/or water service to approximately 4.4 million electric, natural gas and water customers through ten regulated utilities in Connecticut, Massachusetts and New Hampshire.

The unaudited condensed consolidated financial statements of Eversource, NSTAR Electric and PSNH include the accounts of each of their respective subsidiaries.  Intercompany transactions have been eliminated in consolidation.  The accompanying unaudited condensed consolidated financial statements of Eversource, NSTAR Electric and PSNH and the unaudited condensed financial statements of CL&P are herein collectively referred to as the "financial statements."

The combined notes to the financial statements have been prepared pursuant to the rules and regulations of the SEC.  Certain information and footnote disclosures included in annual financial statements prepared in accordance with GAAP have been omitted pursuant to such rules and regulations.  The accompanying financial statements should be read in conjunction with the Combined Notes to Financial Statements included in Item 8, "Financial Statements and Supplementary Data," of the Eversource 2021 Form 10-K, which was filed with the SEC on February 17, 2022. The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.  Actual results could differ from those estimates.

The financial statements contain, in the opinion of management, all adjustments (including normal, recurring adjustments) necessary to present fairly Eversource's, CL&P's, NSTAR Electric's and PSNH's financial position as of March 31, 2022 and December 31, 2021, and the results of operations, comprehensive income, common shareholders' equity and cash flows for the three months ended March 31, 2022 and 2021. The results of operations, comprehensive income and cash flows for the three months ended March 31, 2022 and 2021 are not necessarily indicative of the results expected for a full year.  

CYAPC and YAEC are inactive regional nuclear power companies engaged in the long-term storage of their spent nuclear fuel. Eversource consolidates the operations of CYAPC and YAEC because CL&P's, NSTAR Electric's and PSNH's combined ownership and voting interests in each of these entities is greater than 50 percent.  Intercompany transactions between CL&P, NSTAR Electric, PSNH and the CYAPC and YAEC companies have been eliminated in consolidation of the Eversource financial statements.

Eversource holds several equity ownership interests that are not consolidated and are accounted for under the equity method.

Eversource's utility subsidiaries' electric, natural gas and water distribution and transmission businesses are subject to rate-regulation that is based on cost recovery and meets the criteria for application of accounting guidance for entities with rate-regulated operations, which considers the effect of regulation on the differences in the timing of the recognition of certain revenues and expenses from those of other businesses and industries. See Note 2, "Regulatory Accounting," for further information.

Certain reclassifications of prior period data were made in the accompanying financial statements to conform to the current period presentation.

On May 4, 2022, Eversource announced that it had initiated a strategic review of its offshore wind investment portfolio. As part of that review, Eversource will explore strategic alternatives that could result in a potential sale of all, or part, of its 50 percent interest in its offshore wind partnership with Ørsted. Eversource expects to complete this review during 2022. Eversource’s offshore wind business includes a 50 percent ownership interest in North East Offshore, which holds PPAs and contracts for the Revolution Wind, South Fork Wind and Sunrise Wind projects, as well as undeveloped offshore lease area. As of March 31, 2022 and December 31, 2021, Eversource's total equity investment balance in its offshore wind business was $1.33 billion and $1.21 billion, respectively. Eversource’s initiation of the strategic review of its offshore wind investment does not impact the March 31, 2022 financial statements, and at this time, Eversource cannot predict the ultimate outcome or estimate the potential impact of such review.

Allowance for Uncollectible Accounts

Allowance for Uncollectible Accounts

Receivables, Net on the balance sheets primarily includes trade receivables from retail customers and customers related to wholesale transmission contracts, wholesale market sales, sales of RECs, and property rentals. Receivables, Net also includes customer receivables for the purchase of electricity from a competitive third party supplier, the current portion of customer energy efficiency loans, property damage receivables and other miscellaneous receivables. There is no material concentration of receivables. Receivables are recorded at amortized cost, net of a credit loss provision (or allowance for uncollectible accounts).

Receivables are presented net of expected credit losses at estimated net realizable value by maintaining an allowance for uncollectible accounts. The current expected credit loss (CECL) model is applied to receivables for purposes of calculating the allowance for uncollectible accounts. This model is based on expected losses and results in the recognition of estimated expected credit losses, including uncollectible amounts for both billed and unbilled revenues, over the life of the receivable at the time a receivable is recorded.

The allowance for uncollectible accounts is determined based upon a variety of judgments and factors, including an aging-based quantitative assessment that applies an estimated uncollectible percentage to each receivable aging category.  Factors in determining credit loss include historical collection, write-off experience, analysis of delinquency statistics, and management's assessment of collectability from customers, including current conditions, customer payment trends, the impact on customer bills because of energy usage trends and changes in rates, flexible payment plans and financial hardship arrearage management programs being offered to customers, reasonable forecasts, and expectations of future collectability and collection efforts. Management continuously assesses the collectability of receivables and adjusts estimates based on actual experience and future expectations based on economic conditions, collection efforts and other factors.  Management also monitors the aging analysis of receivables to determine if there are changes in the collections of accounts receivable. Receivable balances are written off against the allowance for uncollectible accounts when the customer accounts are no longer in service and these balances are deemed to be uncollectible. Management concluded that the reserve balance as of March 31, 2022 adequately reflected the collection risk and net realizable value for its receivables.

As of March 31, 2022 and December 31, 2021, the total amount incurred as a result of COVID-19 included in the allowance for uncollectible accounts was $58.5 million and $55.3 million at Eversource, $20.4 million and $23.9 million at CL&P, and $9.0 million and $9.0 million at NSTAR Electric, respectively. At our Connecticut and Massachusetts utilities, the COVID-19 related uncollectible amounts were deferred either as incremental regulatory costs or deferred through existing regulatory tracking mechanisms that recover uncollectible energy supply costs, as management believes it is probable that these costs will ultimately be recovered from customers in future rates. No COVID-19 related uncollectible amounts were deferred at PSNH as a result of a July 2021 NHPUC order. Based on the status of our COVID-19 regulatory dockets, and policies and practices in the jurisdictions in which we operate, we believe our state regulatory commissions in Connecticut and Massachusetts will allow us to recover our incremental uncollectible customer receivable costs associated with COVID-19.

The PURA allows CL&P and Yankee Gas to accelerate the recovery of accounts receivable balances attributable to qualified customers under financial or medical duress (uncollectible hardship accounts receivable) outstanding for greater than 180 days and 90 days, respectively.  The DPU allows NSTAR Electric, NSTAR Gas and EGMA to recover in rates amounts associated with certain uncollectible hardship accounts receivable. These uncollectible hardship customer account balances are included in Regulatory Assets or Other Long-Term Assets on the balance sheets. Hardship customers are protected from shut-off in certain circumstances, and historical collection experience has reflected a higher default risk as compared to the rest of the receivable population. Management uses a higher credit risk profile for this pool of trade receivables as compared to non-hardship receivables. The allowance for uncollectible hardship accounts is included in the total uncollectible allowance balance.

The total allowance for uncollectible accounts is included in Receivables, Net on the balance sheets.

Fair Value Measurements

Fair Value Measurements

Fair value measurement guidance is applied to derivative contracts that are not elected or designated as "normal purchases" or "normal sales" (normal) and to the marketable securities held in trusts.  Fair value measurement guidance is also applied to valuations of the investments used to calculate the funded status of pension and PBOP plans, the nonrecurring fair value measurements of nonfinancial assets such as goodwill, long-lived assets, equity method investments, AROs, and in the valuation of acquisitions. The fair value measurement guidance was also applied in estimating the fair value of preferred stock, long-term debt and RRBs.

Fair Value Hierarchy:  In measuring fair value, Eversource uses observable market data when available in order to minimize the use of unobservable inputs.  Inputs used in fair value measurements are categorized into three fair value hierarchy levels for disclosure purposes.  The entire fair value measurement is categorized based on the lowest level of input that is significant to the fair value measurement.  Eversource evaluates the classification of assets and liabilities measured at fair value on a quarterly basis. The levels of the fair value hierarchy are described below:

Level 1 - Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities as of the reporting date.  Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis.  

Level 2 - Inputs are quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-derived valuations in which all significant inputs are observable.

Level 3 - Quoted market prices are not available.  Fair value is derived from valuation techniques in which one or more significant inputs or assumptions are unobservable.  Where possible, valuation techniques incorporate observable market inputs that can be validated to external sources such as industry exchanges, including prices of energy and energy-related products.  

Uncategorized - Investments that are measured at net asset value are not categorized within the fair value hierarchy.

Other Taxes

Other TaxesEversource's companies that serve customers in Connecticut collect gross receipts taxes levied by the state of Connecticut from their customers. These gross receipts taxes are recorded separately with collections in Operating Revenues and with payments in Taxes Other Than Income Taxes on the statements of incomeAs agents for state and local governments, Eversource's companies that serve customers in Connecticut and Massachusetts collect certain sales taxes that are recorded on a net basis with no impact on the statements of income.

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

Mar. 31, 2022

Accounting Policies [Abstract]

Allowance for Uncollectible Accounts

The activity in the allowance for uncollectible accounts by portfolio segment as of March 31st is as follows:

	Eversource						CL&P						NSTAR Electric						PSNH
(Millions of Dollars)	Hardship Accounts		Retail (Non-Hardship), Wholesale, and Other		Total Allowance		Hardship Accounts		Retail (Non-Hardship), Wholesale, and Other		Total Allowance		Hardship Accounts		Retail (Non-Hardship), Wholesale, and Other		Total Allowance		Total Allowance
Three Months Ended 2022
Beginning Balance	$	226.1	$	191.3	$	417.4	$	144.6	$	36.7	$	181.3	$	43.3	$	53.7	$	97.0	$	24.3
Uncollectible Expense	—		17.1		17.1		—		3.8		3.8		—		4.7		4.7		2.5
Uncollectible Costs Deferred (1)	0.9		14.8		15.7		(4.0)		(2.1)		(6.1)		(3.3)		5.4		2.1		1.0
Write-Offs	(2.3)		(22.0)		(24.3)		(1.1)		(0.5)		(1.6)		(0.3)		(10.6)		(10.9)		(1.8)
Recoveries Collected	0.8		5.5		6.3		0.6		2.5		3.1		—		1.9		1.9		0.2
Ending Balance	$	225.5	$	206.7	$	432.2	$	140.1	$	40.4	$	180.5	$	39.7	$	55.1	$	94.8	$	26.2

Three Months Ended 2021
Beginning Balance	$	194.8	$	164.1	$	358.9	$	129.1	$	28.3	$	157.4	$	39.7	$	51.9	$	91.6	$	17.2
Uncollectible Expense	—		16.3		16.3		—		3.8		3.8		—		3.9		3.9		1.2
Uncollectible Costs Deferred (1)	5.4		27.1		32.5		11.9		7.5		19.4		(8.5)		8.4		(0.1)		1.2
Write-Offs	(3.3)		(16.7)		(20.0)		(2.9)		(4.0)		(6.9)		(0.1)		(7.5)		(7.6)		(2.5)
Recoveries Collected	0.4		3.6		4.0		0.3		1.1		1.4		—		1.5		1.5		0.2
Ending Balance	$	197.3	$	194.4	$	391.7	$	138.4	$	36.7	$	175.1	$	31.1	$	58.2	$	89.3	$	17.3

(1) These expected credit losses are deferred as regulatory costs on the balance sheets, as these amounts are ultimately recovered in rates. Amounts include uncollectible costs for hardship accounts and other customer receivables, including uncollectible amounts related to uncollectible energy supply costs and COVID-19.

Components of Other Income, Net

The components of Other Income, Net on the statements of income were as follows:

	For the Three Months Ended
	March 31, 2022								March 31, 2021
(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric		PSNH
Pension, SERP and PBOP Non-Service    Income Components	$	54.3	$	15.9	$	21.0	$	6.6	$	20.1	$	2.7	$	10.1	$	2.7
AFUDC Equity	9.9		2.8		4.9		0.4		9.2		1.7		6.2		0.6
Equity in Earnings of Unconsolidated Affiliates	0.4		—		—		—		3.7		—		0.1		—
Investment (Loss)/Income	(0.2)		(0.4)		(0.3)		0.2		(0.6)		0.4		0.2		0.1
Interest Income	6.7		1.3		3.5		0.3		1.5		0.1		0.1		0.7
Other	0.5		—		0.1		—		0.3		—		0.1		0.1
Total Other Income, Net	$	71.6	$	19.6	$	29.2	$	7.5	$	34.2	$	4.9	$	16.8	$	4.2

Other Taxes

These gross receipts taxes are recorded separately with collections in Operating Revenues and with payments in Taxes Other Than Income Taxes on the statements of income as follows:

	For the Three Months Ended
(Millions of Dollars)	March 31, 2022		March 31, 2021
Eversource	$	48.6	$	48.6
CL&P	37.8		39.2

Non-cash Investing Activities

Non-cash investing activities include plant additions included in Accounts Payable as follows:

(Millions of Dollars)	As of March 31, 2022		As of March 31, 2021
Eversource	$	385.6	$	262.9
CL&P	102.1		70.9
NSTAR Electric	85.8		68.2
PSNH	49.5		23.5

Reconciliation of Cash Balances to Cash and Restricted Cash

The following table reconciles cash as reported on the balance sheets to the cash and restricted cash balance as reported on the statements of cash flows:

	As of March 31, 2022								As of December 31, 2021
(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric		PSNH
Cash as reported on the Balance Sheets	$	46.2	$	21.6	$	0.7	$	3.8	$	66.8	$	55.8	$	0.7	$	—
Restricted cash included in:
Special Deposits	73.3		8.7		17.3		16.6		78.2		18.7		17.4		31.4
Marketable Securities	26.0		0.3		0.1		0.5		31.3		0.3		0.1		0.5
Other Long-Term Assets	19.1		—		—		3.2		44.7		—		—		3.2
Cash and Restricted Cash as reported on the     Statements of Cash Flows	$	164.6	$	30.6	$	18.1	$	24.1	$	221.0	$	74.8	$	18.2	$	35.1

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REGULATORY ACCOUNTING (Tables)

3 Months Ended

Mar. 31, 2022

Regulated Operations [Abstract]

Components of Regulatory Assets

The components of regulatory assets were as follows:

	As of March 31, 2022								As of December 31, 2021
(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric		PSNH
Benefit Costs	$	1,452.5	$	268.0	$	386.9	$	116.5	$	1,481.0	$	272.4	$	395.5	$	118.9
Storm Costs, Net	1,249.3		735.7		449.4		64.2		1,102.7		695.6		341.3		65.8
Regulatory Tracking Mechanisms	937.7		295.2		375.0		97.0		1,050.5		333.6		376.6		85.4
Income Taxes, Net	791.2		471.8		112.8		14.5		790.7		470.5		112.6		17.5
Securitized Stranded Costs	468.1		—		—		468.1		478.9		—		—		478.9
Goodwill-related	293.6		—		252.1		—		297.8		—		255.7		—
Derivative Liabilities	229.4		229.4		—		—		249.2		249.2		—		—
Asset Retirement Obligations	117.5		34.2		61.9		4.2		115.0		33.6		59.8		4.1
Other Regulatory Assets	162.1		28.9		35.4		14.7		150.0		29.9		37.7		15.8
Total Regulatory Assets	5,701.4		2,063.2		1,673.5		779.2		5,715.8		2,084.8		1,579.2		786.4
Less:  Current Portion	1,128.1		382.1		433.7		124.7		1,129.1		371.6		444.0		107.2
Total Long-Term Regulatory Assets	$	4,573.3	$	1,681.1	$	1,239.8	$	654.5	$	4,586.7	$	1,713.2	$	1,135.2	$	679.2

Components of Regulatory Liabilities

The components of regulatory liabilities were as follows:

	As of March 31, 2022								As of December 31, 2021
(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric		PSNH
EDIT due to Tax Cuts and Jobs Act of 2017	$	2,665.7	$	992.7	$	973.3	$	356.1	$	2,685.2	$	996.1	$	984.5	$	359.2
Cost of Removal	667.2		108.6		388.2		19.1		649.6		100.1		381.0		17.2
Regulatory Tracking Mechanisms	571.8		226.7		237.2		94.9		448.4		182.0		185.1		107.0
Benefit Costs	128.3		—		103.1		—		133.5		—		107.4		—
AFUDC - Transmission	85.1		44.0		41.1		—		81.0		43.2		37.8		—
CL&P Settlement Agreement and Storm   Performance Penalty	12.9		12.9		—		—		81.3		81.3		—		—
Other Regulatory Liabilities	416.2		75.0		107.4		25.1		389.7		57.1		91.5		18.2
Total Regulatory Liabilities	4,547.2		1,459.9		1,850.3		495.2		4,468.7		1,459.8		1,787.3		501.6
Less:  Current Portion	652.4		251.6		279.3		106.4		602.4		266.5		228.2		120.2
Total Long-Term Regulatory Liabilities	$	3,894.8	$	1,208.3	$	1,571.0	$	388.8	$	3,866.3	$	1,193.3	$	1,559.1	$	381.4

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PROPERTY, PLANT AND EQUIPMENT AND ACCUMULATED DEPRECIATION (Tables)

3 Months Ended

Mar. 31, 2022

Property, Plant and Equipment [Abstract]

Summary of Property, Plant, and Equipment

The following tables summarize property, plant and equipment by asset category:

Eversource	As of March 31, 2022		As of December 31, 2021
(Millions of Dollars)
Distribution - Electric	$	17,809.0	$	17,679.1
Distribution - Natural Gas	6,713.7		6,694.8
Transmission - Electric	13,011.0		12,882.4
Distribution - Water	1,924.9		1,900.9
Solar	200.9		200.9
Utility	39,659.5		39,358.1
Other (1)	1,509.6		1,469.5
Property, Plant and Equipment, Gross	41,169.1		40,827.6
Less:  Accumulated Depreciation
Utility	(8,976.2)		(8,885.2)
Other	(609.8)		(580.1)
Total Accumulated Depreciation	(9,586.0)		(9,465.3)
Property, Plant and Equipment, Net	31,583.1		31,362.3
Construction Work in Progress	2,269.5		2,015.4
Total Property, Plant and Equipment, Net	$	33,852.6	$	33,377.7

	As of March 31, 2022						As of December 31, 2021
(Millions of Dollars)	CL&P		NSTAR Electric		PSNH		CL&P		NSTAR Electric		PSNH
Distribution - Electric	$	7,188.9	$	8,151.1	$	2,509.3	$	7,117.6	$	8,105.5	$	2,496.2
Transmission - Electric	5,912.5		5,137.1		1,963.1		5,859.0		5,090.5		1,934.6
Solar	—		200.9		—		—		200.9		—
Property, Plant and Equipment, Gross	13,101.4		13,489.1		4,472.4		12,976.6		13,396.9		4,430.8
Less:  Accumulated Depreciation	(2,592.6)		(3,271.8)		(912.8)		(2,572.1)		(3,227.3)		(908.4)
Property, Plant and Equipment, Net	10,508.8		10,217.3		3,559.6		10,404.5		10,169.6		3,522.4
Construction Work in Progress	432.2		791.6		163.0		399.0		707.0		134.1
Total Property, Plant and Equipment, Net	$	10,941.0	$	11,008.9	$	3,722.6	$	10,803.5	$	10,876.6	$	3,656.5

(1)    These assets are primarily comprised of computer software, hardware and equipment at Eversource Service and buildings at The Rocky River Realty Company.

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DERIVATIVE INSTRUMENTS (Tables)

3 Months Ended

Mar. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Gross Fair Values and Net Amounts of Contracts

The following table presents the gross fair values of contracts, categorized by risk type, and the net amounts recorded as current or long-term derivative assets or liabilities:

		As of March 31, 2022						As of December 31, 2021
CL&P (Millions of Dollars)	Fair Value Hierarchy	Commodity Supply and Price Risk Management		Netting (1)		Net Amount Recorded as a Derivative		Commodity Supply and Price Risk Management		Netting (1)		Net Amount Recorded as a Derivative
Current Derivative Assets	Level 3	$	14.8	$	(0.4)	$	14.4	$	14.7	$	(1.0)	$	13.7
Long-Term Derivative Assets	Level 3	41.4		(1.3)		40.1		46.9		(0.9)		46.0
Current Derivative Liabilities	Level 3	(74.4)		—		(74.4)		(73.5)		—		(73.5)
Long-Term Derivative Liabilities	Level 3	(209.5)		—		(209.5)		(235.4)		—		(235.4)

    (1)    Amounts represent derivative assets and liabilities that Eversource elected to record net on the balance sheets.  These amounts are subject to master netting agreements or similar agreements for which the right of offset exists.

Summary of Level 3 Derivative Contracts and Significant Unobservable Inputs Used

The following is a summary of the significant unobservable inputs utilized in the valuations of the derivative contracts classified as Level 3:

	As of March 31, 2022								As of December 31, 2021
CL&P	Range				Average			Period Covered	Range				Average			Period Covered
Forward Reserve Prices	$	0.50	—	$1.15	$	0.82	per kW-Month	2022 - 2024	$	0.50	—	$1.15	$	0.82	per kW-Month	2022 - 2024

Changes in the Level 3 Category of Derivative Assets Measured at Fair Value on a Recurring Basis

The following table presents changes in the Level 3 category of derivative assets and derivative liabilities measured at fair value on a recurring basis.  The derivative assets and liabilities are presented on a net basis.

CL&P	For the Three Months Ended March 31,
(Millions of Dollars)	2022		2021
Derivatives, Net:
Fair Value as of Beginning of Period	$	(249.2)	$	(293.1)
Net Realized/Unrealized Gains/(Losses) Included in Regulatory Assets	6.2		(12.5)
Settlements	13.6		12.5
Fair Value as of End of Period	$	(229.4)	$	(293.1)

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MARKETABLE SECURITIES (Tables)

3 Months Ended

Mar. 31, 2022

Investments, Debt and Equity Securities [Abstract]

Summary of Available-for-Sale Debt Securities

The following is a summary of the available-for-sale debt securities:

	As of March 31, 2022								As of December 31, 2021
Eversource (Millions of Dollars)	Amortized Cost		Pre-Tax Unrealized Gains		Pre-Tax Unrealized Losses		Fair Value		Amortized Cost		Pre-Tax Unrealized Gains		Pre-Tax Unrealized Losses		Fair Value
Debt Securities	$	211.4	$	0.5	$	(3.6)	$	208.3	$	214.5	$	5.1	$	(0.2)	$	219.4

Contractual Maturities of Available-for-Sale Debt Securities

As of March 31, 2022, the contractual maturities of available-for-sale debt securities were as follows:

 

Eversource (Millions of Dollars)	Amortized Cost		Fair Value
Less than one year (1)	$	27.0	$	27.0
One to five years	61.9		61.6
Six to ten years	36.3		35.5
Greater than ten years	86.2		84.2
Total Debt Securities	$	211.4	$	208.3

(1)    Amounts in the Less than one year category include securities in the CYAPC and YAEC spent nuclear fuel trusts, which are restricted and are classified in long-term Marketable Securities on the balance sheets.

Marketable Securities Recorded at Fair Value on a Recurring Basis by Level

The following table presents the marketable securities recorded at fair value on a recurring basis by the level in which they are classified within the fair value hierarchy:

Eversource (Millions of Dollars)	As of March 31, 2022		As of December 31, 2021
Level 1:
Mutual Funds and Equities	$	227.0	$	254.2
Money Market Funds	26.0		31.3
Total Level 1	$	253.0	$	285.5
Level 2:
U.S. Government Issued Debt Securities (Agency and Treasury)	$	80.0	$	81.3
Corporate Debt Securities	62.5		65.3
Asset-Backed Debt Securities	11.6		12.6
Municipal Bonds	11.7		12.3
Other Fixed Income Securities	16.5		16.6
Total Level 2	$	182.3	$	188.1
Total Marketable Securities	$	435.3	$	473.6

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SHORT-TERM AND LONG-TERM DEBT (Tables)

3 Months Ended

Mar. 31, 2022

Debt Disclosure [Abstract]

Borrowings Outstanding and Available under the Commercial Paper Programs

The amount of borrowings outstanding and available under the commercial paper programs were as follows:

	Borrowings Outstanding as of				Available Borrowing Capacity as of				Weighted-Average Interest Rate as of
	March 31, 2022		December 31, 2021		March 31, 2022		December 31, 2021		March 31, 2022		December 31, 2021
(Millions of Dollars)
Eversource Parent Commercial Paper Program	$	1,393.8	$	1,343.0	$	606.2	$	657.0	0.93	%	0.31	%
NSTAR Electric Commercial Paper Program	275.0		162.5		375.0		487.5		0.43	%	0.14	%

Summary of Long-Term Debt Issuance and Repayments

The following table summarizes long-term debt issuances and repayments:

(Millions of Dollars)	Issuance/(Repayment)		Issue Date or Repayment Date	Maturity Date	Use of Proceeds for Issuance/ Repayment Information
Eversource Parent 2.90% Series V Senior Notes	$	650.0	February 2022	March 2027	Repaid Series K Senior Notes at maturity and short-term debt
Eversource Parent 3.38% Series W Senior Notes	650.0		February 2022	March 2032	Repaid Series K Senior Notes at maturity and short-term debt
Eversource Parent 2.75% Series K Senior Notes	(750.0)		March 2022	March 2022	Paid at maturity
Yankee Gas 8.48% Series B First Mortgage Bonds	(20.0)		March 2022	March 2022	Paid at maturity

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RATE REDUCTION BONDS AND VARIABLE INTEREST ENTITIES (Tables)

3 Months Ended

Mar. 31, 2022

Rate Reduction Bonds and Variable Interest Entity [Abstract]

Summary of the Impact of Funding on the Balance Sheets and Income Statements

The following tables summarize the impact of PSNH Funding on PSNH's balance sheets and income statements:

(Millions of Dollars)
PSNH Balance Sheets:	As of March 31, 2022		As of December 31, 2021
Restricted Cash - Current Portion (included in Current Assets)	$	16.3	$	31.1
Restricted Cash - Long-Term Portion (included in Other Long-Term Assets)	3.2		3.2
Securitized Stranded Cost (included in Regulatory Assets)	468.1		478.9
Other Regulatory Liabilities (included in Regulatory Liabilities)	6.0		5.4
Accrued Interest (included in Other Current Liabilities)	2.9		7.5
Rate Reduction Bonds - Current Portion	43.2		43.2
Rate Reduction Bonds - Long-Term Portion	432.1		453.7

(Millions of Dollars) PSNH Income Statements:	For the Three Months Ended
	March 31, 2022		March 31, 2021
Amortization of RRB Principal (included in Amortization of Regulatory Assets, Net)	$	10.8	$	10.8
Interest Expense on RRB Principal (included in Interest Expense)	4.4		4.7

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PENSION BENEFITS AND POSTRETIREMENT BENEFITS OTHER THAN PENSION (Tables)

3 Months Ended

Mar. 31, 2022

Postemployment Benefits [Abstract]

Components of Net Periodic Benefit Expense/(Income)

The components of net periodic benefit plan expense/(income) for the Pension, SERP and PBOP Plans, prior to amounts capitalized as Property, Plant and Equipment or deferred as regulatory assets/(liabilities) for future recovery or refund, are shown below.  The service cost component of net periodic benefit plan expense/(income), less the capitalized portion, is included in Operations and Maintenance expense on the statements of income. The remaining components of net periodic benefit plan expense/(income), less the deferred portion, are included in Other Income, Net on the statements of income. Pension, SERP and PBOP expense/(income) reflected in the statements of cash flows for CL&P, NSTAR Electric and PSNH does not include intercompany allocations of net periodic benefit plan expense/(income), as these amounts are cash settled on a short-term basis.

	Pension and SERP								PBOP
	For the Three Months Ended March 31, 2022								For the Three Months Ended March 31, 2022
(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric		PSNH
Service Cost	$	17.7	$	4.5	$	3.6	$	1.8	$	2.8	$	0.5	$	0.5	$	0.2
Interest Cost	38.6		7.8		8.1		4.2		5.0		0.9		1.3		0.5
Expected Return on Plan Assets	(131.7)		(26.6)		(32.0)		(14.1)		(22.4)		(2.8)		(10.6)		(1.6)
Actuarial Losses, net	30.7		4.2		8.5		2.2		—		—		—		—
Prior Service Cost/(Credit)	0.4		—		0.1		—		(5.4)		0.2		(4.3)		0.1
Total Net Periodic Benefit Plan Income	$	(44.3)	$	(10.1)	$	(11.7)	$	(5.9)	$	(20.0)	$	(1.2)	$	(13.1)	$	(0.8)
Intercompany Income Allocations	N/A		$	(3.8)	$	(2.9)	$	(0.8)	N/A		$	(0.9)	$	(0.9)	$	(0.3)

	Pension and SERP								PBOP
	For the Three Months Ended March 31, 2021								For the Three Months Ended March 31, 2021
(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric		PSNH
Service Cost	$	21.3	$	6.3	$	4.0	$	2.2	$	3.5	$	0.6	$	0.6	$	0.3
Interest Cost	32.6		7.3		6.7		3.6		4.4		0.8		1.1		0.5
Expected Return on Plan Assets	(108.9)		(21.6)		(26.9)		(11.9)		(19.7)		(2.6)		(9.3)		(1.5)
Actuarial Loss	61.6		13.0		15.5		4.9		2.6		0.4		0.6		0.3
Prior Service Cost/(Credit)	0.3		—		0.1		—		(5.3)		0.2		(4.2)		0.1
Total Net Periodic Benefit Plan Expense/(Income)	$	6.9	$	5.0	$	(0.6)	$	(1.2)	$	(14.5)	$	(0.6)	$	(11.2)	$	(0.3)
Intercompany Expense/(Income) Allocations	N/A		$	1.3	$	1.5	$	0.5	N/A		$	(0.3)	$	(0.4)	$	(0.1)

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COMMITMENTS AND CONTINGENCIES (Tables)

3 Months Ended

Mar. 31, 2022

Commitments and Contingencies Disclosure [Abstract]

Environmental Sites and Related Reserves

The number of environmental sites and related reserves for which remediation or long-term monitoring, preliminary site work or site assessment is being performed are as follows:

	As of March 31, 2022			As of December 31, 2021
	Number of Sites	Reserve (in millions)		Number of Sites	Reserve (in millions)
Eversource	61	$	117.8	61	$	115.4
CL&P	14	14.3		14	13.9
NSTAR Electric	11	3.2		11	3.3
PSNH	9	6.4		9	6.3

Non-Cancelable Commitments under Purchase Commitment Contracts

Renewable energy contracts include non-cancelable commitments under contracts of NSTAR Electric for the purchase of energy and RECs from renewable energy facilities.

NSTAR Electric
(Millions of Dollars)	2022		2023		2024		2025		2026		Thereafter		Total
Renewable Energy	$	75.6	$	78.3	$	269.4	$	315.8	$	322.1	$	5,812.2	$	6,873.4

Summary of Exposure to Guarantees and Indemnifications

The following table summarizes Eversource parent's exposure to guarantees and indemnifications of its subsidiaries and affiliates to external parties:  

As of March 31, 2022
Company (Obligor)	Description	Maximum Exposure (in millions)		Expiration Dates
North East Offshore LLC	Construction-related purchase agreements with third-party contractors (1)	$	936.3	(1)
Sunrise Wind LLC	Construction-related purchase agreements with third-party contractors (2)	330.6		2026
Revolution Wind, LLC	Construction-related purchase agreements with third-party contractors (3)	254.7		2024 - 2027
South Fork Wind, LLC	Construction-related purchase agreements with third-party contractors (4)	165.3		2023 - 2026
Eversource Investment LLC	Funding and indemnification obligations of North East Offshore LLC (5)	107.8		(5)
South Fork Wind, LLC	Power Purchase Agreement Security (6)	7.1		(6)
Sunrise Wind LLC	OREC capacity production (7)	2.2		(7)
Bay State Wind LLC	Real estate purchase	2.5		2022
South Fork Wind, LLC	Transmission interconnection	1.2		—
Eversource Investment LLC	Letters of Credit (8)	4.3		—
Various	Surety bonds (9)	35.0		2022 - 2023
Eversource Service	Lease payments for real estate	0.7		2024

(1)    Eversource parent issued guarantees on behalf of its 50 percent-owned affiliate, North East Offshore LLC (NEO), under which Eversource parent agreed to guarantee 50 percent of NEO’s performance of obligations under certain purchase agreements with third-party contactors, in an aggregate amount not to exceed $1.3 billion with an expiration date in 2025. Eversource parent also issued a separate guarantee to Ørsted on behalf of NEO, under which Eversource parent agreed to guarantee 50 percent of NEO’s payment obligations under certain offshore wind project construction-related agreements with Ørsted in an aggregate amount not to exceed $62.5 million and expiring upon full performance of the guaranteed obligation. Any amounts paid under this guarantee to Ørsted will count toward, but not increase, the maximum amount of the Funding Guarantee described in Note 5, below. The guarantee expires upon the full performance of the guaranteed obligations.

(2)     Eversource parent issued a guaranty on behalf of its 50 percent-owned affiliate, Sunrise Wind LLC, whereby Eversource parent will guarantee Sunrise Wind LLC's performance of certain obligations, in an aggregate amount not to exceed $420.6 million, in connection with a construction-related purchase agreement. Eversource parent’s obligations under the guarantee expire upon the earlier of (i) April 2026 and (ii) full performance of the guaranteed obligations.     

(3)    Eversource parent issued guarantees on behalf of its 50 percent-owned affiliate, Revolution Wind, LLC, whereby Eversource parent will guarantee Revolution Wind, LLC's performance of certain obligations, in an aggregate amount not to exceed $268.5 million, in connection with construction-related purchase agreements. Eversource parent’s obligations under the guarantees expire upon the earlier of (i) dates ranging from November 2024 and November 2027 and (ii) full performance of the guaranteed obligations.

(4)    Eversource parent issued guarantees on behalf of its 50 percent-owned affiliate, South Fork Wind, LLC, whereby Eversource parent will guarantee South Fork Wind, LLC's performance of certain obligations in connection with construction-related purchase agreements. Under these guarantees, Eversource parent will guarantee South Fork Wind, LLC's performance of certain obligations, in a total aggregate amount not to exceed $184.0 million. Eversource parent’s obligations under these guarantees expire upon the earlier of (i) dates ranging from June 2023 and August 2026 and (ii) full performance of the guaranteed obligations.

(5)    Eversource parent issued a guarantee (Funding Guarantee) on behalf of Eversource Investment LLC (EI), its wholly-owned subsidiary that holds a 50 percent ownership interest in NEO, under which Eversource parent agreed to guarantee certain funding obligations and certain indemnification payments of EI under the operating agreement of NEO, in an amount not to exceed $910 million. The guaranteed obligations include payment of EI's funding obligations during the construction phase of NEO’s underlying offshore wind projects and indemnification obligations associated with third party credit support for its investment in NEO. Eversource parent’s obligations under the Funding Guarantee expire upon the full performance of the guaranteed obligations.

(6)    Eversource parent issued a guarantee on behalf of its 50 percent-owned affiliate, South Fork Wind, LLC, whereby Eversource parent will guarantee South Fork Wind, LLC's performance of certain obligations, in an amount not to exceed $7.1 million, under a Power Purchase Agreement between the Long Island Power Authority and South Fork Wind, LLC (the Agreement). The guarantee expires upon the later of (i) the end of the Agreement term and (ii) full performance of the guarantee obligations.

(7)    Eversource parent issued a guarantee on behalf of its 50 percent-owned affiliate, Sunrise Wind LLC, whereby Eversource parent will guarantee Sunrise Wind LLC's performance of certain obligations, in an amount not to exceed $15.4 million, under the Offshore Wind Renewable Energy Certificate Purchase and Sale Agreement (the Agreement). The Agreement was executed by and between the New York State Energy Research and Development Authority (NYSERDA) and Sunrise Wind LLC. The guarantee expires upon the full performance of the guaranteed obligations.    

(8)    On September 16, 2020, Eversource parent entered into a guarantee on behalf of EI, which holds Eversource's investments in offshore wind-related equity method investments, under which Eversource parent would guarantee EI's obligations under a letter of credit facility with a financial institution that EI may request in an aggregate amount of up to approximately $25 million. In January 2022, Eversource parent issued two letters of credit on behalf of South Fork Wind, LLC related to future decommissioning obligations of certain onshore transmission assets totaling $4.3 million.

(9)    Surety bond expiration dates reflect termination dates, the majority of which will be renewed or extended.  Certain surety bonds contain credit ratings triggers that would require Eversource parent to post collateral in the event that the unsecured debt credit ratings of Eversource parent are downgraded.

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FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Mar. 31, 2022

Fair Value Disclosures [Abstract]

Carrying Amounts and Estimated Fair Values of Financial Instruments

Carrying amounts and estimated fair values are as follows:

	Eversource				CL&P				NSTAR Electric				PSNH
(Millions of Dollars)	Carrying Amount		Fair Value		Carrying Amount		Fair Value		Carrying Amount		Fair Value		Carrying Amount		Fair Value
As of March 31, 2022:
Preferred Stock Not Subject to Mandatory Redemption	$	155.6	$	158.3	$	116.2	$	115.5	$	43.0	$	42.8	$	—	$	—
Long-Term Debt	18,729.6		18,562.3		4,215.7		4,392.2		3,986.3		4,094.1		1,164.0		1,086.3
Rate Reduction Bonds	475.3		492.8		—		—		—		—		475.3		492.8
As of December 31, 2021:
Preferred Stock Not Subject to Mandatory Redemption	$	155.6	$	166.3	$	116.2	$	122.3	$	43.0	$	44.0	$	—	$	—
Long-Term Debt	18,216.7		19,636.3		4,215.4		4,848.9		3,985.4		4,453.5		1,163.8		1,220.6
Rate Reduction Bonds	496.9		543.3		—		—		—		—		496.9		543.3

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ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS) (Tables)

3 Months Ended

Mar. 31, 2022

Equity [Abstract]

Changes in Accumulated Other Comprehensive Income/(Loss) by Component, Net of Tax

The changes in accumulated other comprehensive income/(loss) by component, net of tax, are as follows:

	For the Three Months Ended March 31, 2022								For the Three Months Ended March 31, 2021
Eversource (Millions of Dollars)	Qualified Cash Flow Hedging Instruments		Unrealized Gains/(Losses) on Marketable Securities		Defined Benefit Plans		Total		Qualified Cash Flow Hedging Instruments		Unrealized Gains/(Losses) on Marketable Securities		Defined Benefit Plans		Total
Balance as of Beginning of Period	$	(0.4)	$	0.4	$	(42.3)	$	(42.3)	$	(1.4)	$	1.1	$	(76.1)	$	(76.4)
OCI Before Reclassifications	—		(0.8)		—		(0.8)		—		(0.7)		—		(0.7)
Amounts Reclassified from AOCI	—		—		1.5		1.5		0.4		—		1.5		1.9
Net OCI	—		(0.8)		1.5		0.7		0.4		(0.7)		1.5		1.2
Balance as of End of Period	$	(0.4)	$	(0.4)	$	(40.8)	$	(41.6)	$	(1.0)	$	0.4	$	(74.6)	$	(75.2)

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COMMON SHARES (Tables)

3 Months Ended

Mar. 31, 2022

Equity [Abstract]

Common Shares Authorized and Issued

The following table sets forth the Eversource parent common shares and the shares of common stock of CL&P, NSTAR Electric and PSNH that were authorized and issued, as well as the respective per share par values:  

	Shares
			Authorized as of March 31, 2022 and December 31, 2021	Issued as of
	Par Value			March 31, 2022	December 31, 2021
Eversource	$	5	380,000,000	357,818,402	357,818,402
CL&P	$	10	24,500,000	6,035,205	6,035,205
NSTAR Electric	$	1	100,000,000	200	200
PSNH	$	1	100,000,000	301	301

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EARNINGS PER SHARE (Tables)

3 Months Ended

Mar. 31, 2022

Earnings Per Share [Abstract]

Components of Basic and Diluted EPS

The following table sets forth the components of basic and diluted EPS:

Eversource (Millions of Dollars, except share information)	For the Three Months Ended
	March 31, 2022		March 31, 2021
Net Income Attributable to Common Shareholders	$	443.4	$	366.1
Weighted Average Common Shares Outstanding:
Basic	345,156,346		343,678,243
Dilutive Effect	504,787		656,446
Diluted	345,661,133		344,334,689
Basic EPS	$	1.28	$	1.07
Diluted EPS	$	1.28	$	1.06

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REVENUES (Tables)

3 Months Ended

Mar. 31, 2022

Revenue from Contract with Customer [Abstract]

Operating Revenues Disaggregated by Revenue Source

The following tables present operating revenues disaggregated by revenue source:

	For the Three Months Ended March 31, 2022
Eversource (Millions of Dollars)	Electric Distribution		Natural Gas Distribution		Electric Transmission		Water Distribution		Other		Eliminations		Total
Revenues from Contracts with Customers
Retail Tariff Sales
Residential	$	1,186.2	$	556.8	$	—	$	28.2	$	—	$	—	$	1,771.2
Commercial	661.3		257.6		—		14.6		—		(1.1)		932.4
Industrial	89.6		68.1		—		1.1		—		(4.5)		154.3
Total Retail Tariff Sales Revenues	1,937.1		882.5		—		43.9		—		(5.6)		2,857.9
Wholesale Transmission Revenues	—		—		446.2		—		24.4		(364.7)		105.9
Wholesale Market Sales Revenues	365.5		33.5		—		0.8		—		—		399.8
Other Revenues from Contracts with Customers	17.7		1.0		3.8		1.9		359.1		(353.1)		30.4
Amortization of/(Reserve for)     Revenues Subject to Refund (1)	58.4		—		—		(0.4)		—		—		58.0
Total Revenues from Contracts with Customers	2,378.7		917.0		450.0		46.2		383.5		(723.4)		3,452.0
Alternative Revenue Programs	4.8		10.2		(15.0)		2.2		—		13.6		15.8
Other Revenues (2)	2.8		0.4		0.2		0.1		—		—		3.5
Total Operating Revenues	$	2,386.3	$	927.6	$	435.2	$	48.5	$	383.5	$	(709.8)	$	3,471.3

	For the Three Months Ended March 31, 2021
Eversource (Millions of Dollars)	Electric Distribution		Natural Gas Distribution		Electric Transmission		Water Distribution		Other		Eliminations		Total
Revenues from Contracts with Customers
Retail Tariff Sales
Residential	$	1,066.0	$	466.3	$	—	$	27.7	$	—	$	—	$	1,560.0
Commercial	559.9		207.6		—		13.8		—		(1.4)		779.9
Industrial	83.0		55.9		—		1.0		—		(3.5)		136.4
Total Retail Tariff Sales Revenues	1,708.9		729.8		—		42.5		—		(4.9)		2,476.3
Wholesale Transmission Revenues	—		—		394.3		—		19.2		(321.0)		92.5
Wholesale Market Sales Revenues	149.1		26.4		—		0.8		—		—		176.3
Other Revenues from Contracts with Customers	18.2		1.3		3.4		1.2		323.8		(321.3)		26.6
Total Revenues from Contracts with Customers	1,876.2		757.5		397.7		44.5		343.0		(647.2)		2,771.7
Alternative Revenue Programs	23.0		22.8		2.7		1.8		—		2.2		52.5
Other Revenues (2)	1.1		0.2		0.2		0.1		—		—		1.6
Total Operating Revenues	$	1,900.3	$	780.5	$	400.6	$	46.4	$	343.0	$	(645.0)	$	2,825.8

	For the Three Months Ended March 31, 2022						For the Three Months Ended March 31, 2021
(Millions of Dollars)	CL&P		NSTAR Electric		PSNH		CL&P		NSTAR Electric		PSNH
Revenues from Contracts with Customers
Retail Tariff Sales
Residential	$	599.1	$	404.6	$	182.5	$	545.8	$	362.4	$	157.8
Commercial	242.2		331.3		88.4		214.2		268.3		77.8
Industrial	33.5		34.1		22.0		36.7		24.6		21.7
Total Retail Tariff Sales Revenues	874.8		770.0		292.9		796.7		655.3		257.3
Wholesale Transmission Revenues	209.1		165.2		71.9		189.0		147.1		58.2
Wholesale Market Sales Revenues	279.9		57.9		27.7		109.7		24.4		15.0
Other Revenues from Contracts with Customers	7.9		11.6		2.6		7.3		11.7		3.2
Amortization of Revenues Subject to Refund (1)	58.4		—		—		—		—		—
Total Revenues from Contracts with Customers	1,430.1		1,004.7		395.1		1,102.7		838.5		333.7
Alternative Revenue Programs	1.3		(8.2)		(3.3)		8.9		13.8		3.0
Other Revenues (2)	0.1		2.0		0.9		0.2		1.1		—
Eliminations	(145.7)		(135.3)		(53.3)		(124.5)		(116.4)		(43.3)
Total Operating Revenues	$	1,285.8	$	863.2	$	339.4	$	987.3	$	737.0	$	293.4

(1)    Amortization of Revenues Subject to Refund within the Electric Distribution segment in the first quarter of 2022 represents customer credits being distributed to CL&P’s customers on retail electric bills as a result of the October 2021 CL&P settlement agreement and the 2021 civil penalty for non-compliance with storm performance standards. Total customer credits as a result of the 2021 settlement and civil penalty were $93.4 million. The settlement amount of $65 million was refunded over a two-month billing period from December 1, 2021 to January 31, 2022 and the civil penalty of $28.4 million is being refunded over a one year billing period, which began September 1, 2021. (2)    Other Revenues include certain fees charged to customers that are not considered revenue from contracts with customers. Other Revenues also include lease revenues under lessor accounting guidance of $1.0 million (including $0.2 million at CL&P and $0.6 million at NSTAR Electric) and $1.6 million (including $0.2 million at CL&P and $1.1 million at NSTAR Electric) for the three months ended March 31, 2022 and 2021, respectively.

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SEGMENT INFORMATION (Tables)

3 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

Summary of Segment Information and Segmented Total Assets

Eversource's segment information is as follows:

	For the Three Months Ended March 31, 2022
Eversource (Millions of Dollars)	Electric Distribution		Natural Gas Distribution		Electric Transmission		Water Distribution		Other		Eliminations		Total
Operating Revenues	$	2,386.3	$	927.6	$	435.2	$	48.5	$	383.5	$	(709.8)	$	3,471.3
Depreciation and Amortization	(351.6)		(51.9)		(81.9)		(12.3)		(30.2)		1.6		(526.3)
Other Operating Expenses	(1,845.6)		(657.3)		(129.3)		(27.1)		(331.4)		708.8		(2,281.9)
Operating Income	$	189.1	$	218.4	$	224.0	$	9.1	$	21.9	$	0.6	$	663.1
Interest Expense	$	(59.4)	$	(15.8)	$	(33.2)	$	(8.2)	$	(46.8)	$	10.1	$	(153.3)
Other Income, Net	47.6		10.1		8.9		2.2		495.9		(493.1)		71.6
Net Income Attributable to Common Shareholders	140.9		164.0		148.5		3.7		468.7		(482.4)		443.4
Cash Flows Used for Investments in Plant	280.5		127.3		266.9		27.8		62.1		—		764.6

	For the Three Months Ended March 31, 2021
Eversource (Millions of Dollars)	Electric Distribution		Natural Gas Distribution		Electric Transmission		Water Distribution		Other		Eliminations		Total
Operating Revenues	$	1,900.3	$	780.5	$	400.6	$	46.4	$	343.0	$	(645.0)	$	2,825.8
Depreciation and Amortization	(221.9)		(45.7)		(73.5)		(11.3)		(27.3)		1.0		(378.7)
Other Operating Expenses	(1,530.5)		(535.8)		(115.4)		(25.1)		(299.5)		644.8		(1,861.5)
Operating Income	$	147.9	$	199.0	$	211.7	$	10.0	$	16.2	$	0.8	$	585.6
Interest Expense	$	(53.3)	$	(13.9)	$	(32.7)	$	(7.9)	$	(41.6)	$	11.6	$	(137.8)
Other Income, Net	20.7		3.9		5.5		1.0		424.1		(421.0)		34.2
Net Income Attributable to Common Shareholders	93.2		147.6		135.4		3.6		394.9		(408.6)		366.1
Cash Flows Used for Investments in Plant	256.6		131.8		225.2		27.6		47.8		—		689.0

The following table summarizes Eversource's segmented total assets:

Eversource (Millions of Dollars)	Electric Distribution		Natural Gas Distribution		Electric Transmission		Water Distribution		Other		Eliminations		Total
As of March 31, 2022	$	25,883.2	$	7,329.7	$	12,757.8	$	2,572.1	$	23,394.3	$	(22,647.9)	$	49,289.2
As of December 31, 2021	25,411.2		7,215.9		12,377.8		2,551.1		22,674.7		(21,738.6)		48,492.1

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) $ in Thousands, customer in Millions	3 Months Ended
	Mar. 31, 2022 USD ($) customer utility	May 04, 2022	Dec. 31, 2021 USD ($)	Mar. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Summary of Accounting Policies [Line Items]
Investments in unconsolidated affiliates	$ 1,545,433		$ 1,436,293
Number of electric, natural gas and water customers | customer	4.4
Allowance for uncollectible accounts for late fees and other receivable amounts	$ 432,200		417,400	$ 391,700	$ 358,900
Cash, cash equivalents, restricted cash and restricted cash equivalents	164,589		221,008	175,604	264,950
Energy Relief Fund - Merrimack Valley Programs
Summary of Accounting Policies [Line Items]
Restricted cash, current	20,000
Energy Relief Fund - Merrimack Valley Programs | Other Long-Term Assets
Summary of Accounting Policies [Line Items]
Restricted cash, noncurrent	15,900
Restricted cash			41,500
COVID-19
Summary of Accounting Policies [Line Items]
Allowance for uncollectible accounts for late fees and other receivable amounts	58,500		55,300
CL&P
Summary of Accounting Policies [Line Items]
Allowance for uncollectible accounts for late fees and other receivable amounts	$ 180,500		181,300	175,100	157,400
Period of accounts receivable recoverable under financial or medical duress	180 days
Cash, cash equivalents, restricted cash and restricted cash equivalents	$ 30,584		74,788	18,288	99,809
CL&P | Customer Assistance Fund
Summary of Accounting Policies [Line Items]
Cash, cash equivalents, restricted cash and restricted cash equivalents	10,000		10,000
CL&P | COVID-19
Summary of Accounting Policies [Line Items]
Allowance for uncollectible accounts for late fees and other receivable amounts	20,400		23,900
NSTAR Electric
Summary of Accounting Policies [Line Items]
Allowance for uncollectible accounts for late fees and other receivable amounts	94,800		97,000	89,300	91,600
Cash, cash equivalents, restricted cash and restricted cash equivalents	18,144		18,179	17,373	17,410
NSTAR Electric | COVID-19
Summary of Accounting Policies [Line Items]
Allowance for uncollectible accounts for late fees and other receivable amounts	9,000		9,000
PSNH
Summary of Accounting Policies [Line Items]
Allowance for uncollectible accounts for late fees and other receivable amounts	26,200		24,300	17,300	17,200
Cash, cash equivalents, restricted cash and restricted cash equivalents	24,058		35,126	$ 27,988	$ 39,555
PSNH | COVID-19
Summary of Accounting Policies [Line Items]
Allowance for uncollectible accounts for late fees and other receivable amounts	$ 0		0
Yankee Gas
Summary of Accounting Policies [Line Items]
Period of accounts receivable recoverable under financial or medical duress	90 days
Connecticut, Massachusetts and New Hampshire
Summary of Accounting Policies [Line Items]
Number of regulated utilities | utility	10
Offshore Wind Business
Summary of Accounting Policies [Line Items]
Investments in unconsolidated affiliates	$ 1,330,000		$ 1,210,000
Offshore Wind Business | Subsequent Event
Summary of Accounting Policies [Line Items]
Ownership interest		50.00%
North East Offshore LLC
Summary of Accounting Policies [Line Items]
Ownership interest	50.00%
North East Offshore LLC | Subsequent Event
Summary of Accounting Policies [Line Items]
Ownership interest		50.00%

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Provision for Uncollectible Accounts (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	$ 417,400	$ 358,900
Uncollectible Expense	17,135	16,295
Uncollectible Costs Deferred	15,700	32,500
Write-Offs	(24,300)	(20,000)
Recoveries Collected	6,300	4,000
Ending Balance	432,200	391,700
CL&P
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	181,300	157,400
Uncollectible Expense	3,776	3,797
Uncollectible Costs Deferred	(6,100)	19,400
Write-Offs	(1,600)	(6,900)
Recoveries Collected	3,100	1,400
Ending Balance	180,500	175,100
NSTAR Electric
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	97,000	91,600
Uncollectible Expense	4,662	3,868
Uncollectible Costs Deferred	2,100	(100)
Write-Offs	(10,900)	(7,600)
Recoveries Collected	1,900	1,500
Ending Balance	94,800	89,300
PSNH
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	24,300	17,200
Uncollectible Expense	2,496	1,221
Uncollectible Costs Deferred	1,000	1,200
Write-Offs	(1,800)	(2,500)
Recoveries Collected	200	200
Ending Balance	26,200	17,300
Hardship Accounts
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	226,100	194,800
Uncollectible Expense	0	0
Uncollectible Costs Deferred	900	5,400
Write-Offs	(2,300)	(3,300)
Recoveries Collected	800	400
Ending Balance	225,500	197,300
Hardship Accounts | CL&P
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	144,600	129,100
Uncollectible Expense	0	0
Uncollectible Costs Deferred	(4,000)	11,900
Write-Offs	(1,100)	(2,900)
Recoveries Collected	600	300
Ending Balance	140,100	138,400
Hardship Accounts | NSTAR Electric
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	43,300	39,700
Uncollectible Expense	0	0
Uncollectible Costs Deferred	(3,300)	(8,500)
Write-Offs	(300)	(100)
Recoveries Collected	0	0
Ending Balance	39,700	31,100
Retail (Non-Hardship), Wholesale, and Other
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	191,300	164,100
Uncollectible Expense	17,100	16,300
Uncollectible Costs Deferred	14,800	27,100
Write-Offs	(22,000)	(16,700)
Recoveries Collected	5,500	3,600
Ending Balance	206,700	194,400
Retail (Non-Hardship), Wholesale, and Other | CL&P
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	36,700	28,300
Uncollectible Expense	3,800	3,800
Uncollectible Costs Deferred	(2,100)	7,500
Write-Offs	(500)	(4,000)
Recoveries Collected	2,500	1,100
Ending Balance	40,400	36,700
Retail (Non-Hardship), Wholesale, and Other | NSTAR Electric
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	53,700	51,900
Uncollectible Expense	4,700	3,900
Uncollectible Costs Deferred	5,400	8,400
Write-Offs	(10,600)	(7,500)
Recoveries Collected	1,900	1,500
Ending Balance	$ 55,100	$ 58,200

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Components of Other Income, Net (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Summary of Accounting Policies [Line Items]
Other income, net	$ 71,561	$ 34,201
Pension, SERP and PBOP Non-Service   Income Components
Summary of Accounting Policies [Line Items]
Other income, net	54,300	20,100
AFUDC Equity
Summary of Accounting Policies [Line Items]
Other income, net	9,900	9,200
Equity in Earnings of Unconsolidated Affiliates
Summary of Accounting Policies [Line Items]
Other income, net	400	3,700
Investment (Loss)/Income
Summary of Accounting Policies [Line Items]
Other income, net	(200)	(600)
Interest Income
Summary of Accounting Policies [Line Items]
Other income, net	6,700	1,500
Other
Summary of Accounting Policies [Line Items]
Other income, net	500	300
CL&P
Summary of Accounting Policies [Line Items]
Other income, net	19,564	4,908
CL&P | Pension, SERP and PBOP Non-Service   Income Components
Summary of Accounting Policies [Line Items]
Other income, net	15,900	2,700
CL&P | AFUDC Equity
Summary of Accounting Policies [Line Items]
Other income, net	2,800	1,700
CL&P | Equity in Earnings of Unconsolidated Affiliates
Summary of Accounting Policies [Line Items]
Other income, net	0	0
CL&P | Investment (Loss)/Income
Summary of Accounting Policies [Line Items]
Other income, net	(400)	400
CL&P | Interest Income
Summary of Accounting Policies [Line Items]
Other income, net	1,300	100
CL&P | Other
Summary of Accounting Policies [Line Items]
Other income, net	0	0
NSTAR Electric
Summary of Accounting Policies [Line Items]
Other income, net	29,231	16,812
NSTAR Electric | Pension, SERP and PBOP Non-Service   Income Components
Summary of Accounting Policies [Line Items]
Other income, net	21,000	10,100
NSTAR Electric | AFUDC Equity
Summary of Accounting Policies [Line Items]
Other income, net	4,900	6,200
NSTAR Electric | Equity in Earnings of Unconsolidated Affiliates
Summary of Accounting Policies [Line Items]
Other income, net	0	100
NSTAR Electric | Investment (Loss)/Income
Summary of Accounting Policies [Line Items]
Other income, net	(300)	200
NSTAR Electric | Interest Income
Summary of Accounting Policies [Line Items]
Other income, net	3,500	100
NSTAR Electric | Other
Summary of Accounting Policies [Line Items]
Other income, net	100	100
PSNH
Summary of Accounting Policies [Line Items]
Other income, net	7,509	4,166
PSNH | Pension, SERP and PBOP Non-Service   Income Components
Summary of Accounting Policies [Line Items]
Other income, net	6,600	2,700
PSNH | AFUDC Equity
Summary of Accounting Policies [Line Items]
Other income, net	400	600
PSNH | Equity in Earnings of Unconsolidated Affiliates
Summary of Accounting Policies [Line Items]
Other income, net	0	0
PSNH | Investment (Loss)/Income
Summary of Accounting Policies [Line Items]
Other income, net	200	100
PSNH | Interest Income
Summary of Accounting Policies [Line Items]
Other income, net	300	700
PSNH | Other
Summary of Accounting Policies [Line Items]
Other income, net	$ 0	$ 100

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Other Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Schedule of Gross Tax Receipts [Line Items]
Gross receipts taxes	$ 48.6	$ 48.6
CL&P
Schedule of Gross Tax Receipts [Line Items]
Gross receipts taxes	$ 37.8	$ 39.2

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Non-cash Investing Activities (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Schedule of Supplemental Cash Flow [Line Items]
Plant additions included in accounts payable	$ 385.6	$ 262.9
CL&P
Schedule of Supplemental Cash Flow [Line Items]
Plant additions included in accounts payable	102.1	70.9
NSTAR Electric
Schedule of Supplemental Cash Flow [Line Items]
Plant additions included in accounts payable	85.8	68.2
PSNH
Schedule of Supplemental Cash Flow [Line Items]
Plant additions included in accounts payable	$ 49.5	$ 23.5

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Reconciliation of Cash Balances to Cash and Restricted Cash (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Restricted Cash and Cash Equivalents Items [Line Items]
Cash as reported on the Balance Sheets	$ 46,175	$ 66,773
Cash and Restricted Cash as reported on the Statements of Cash Flows	164,589	221,008	$ 175,604	$ 264,950
Special Deposits
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	73,300	78,200
Marketable Securities
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	26,000	31,300
Other Long-Term Assets
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	19,100	44,700
CL&P
Restricted Cash and Cash Equivalents Items [Line Items]
Cash as reported on the Balance Sheets	21,628	55,804
Cash and Restricted Cash as reported on the Statements of Cash Flows	30,584	74,788	18,288	99,809
CL&P | Special Deposits
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	8,700	18,700
CL&P | Marketable Securities
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	300	300
CL&P | Other Long-Term Assets
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	0	0
NSTAR Electric
Restricted Cash and Cash Equivalents Items [Line Items]
Cash as reported on the Balance Sheets	721	745
Cash and Restricted Cash as reported on the Statements of Cash Flows	18,144	18,179	17,373	17,410
NSTAR Electric | Special Deposits
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	17,300	17,400
NSTAR Electric | Marketable Securities
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	100	100
NSTAR Electric | Other Long-Term Assets
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	0	0
PSNH
Restricted Cash and Cash Equivalents Items [Line Items]
Cash as reported on the Balance Sheets	3,827	15
Cash and Restricted Cash as reported on the Statements of Cash Flows	24,058	35,126	$ 27,988	$ 39,555
PSNH | Special Deposits
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	16,600	31,400
PSNH | Marketable Securities
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	500	500
PSNH | Other Long-Term Assets
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	$ 3,200	$ 3,200

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REGULATORY ACCOUNTING - Components of Regulatory Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Regulatory Assets [Line Items]
Total Regulatory Assets	$ 5,701,400	$ 5,715,800
Less:  Current Portion	1,128,088	1,129,093
Total Long-Term Regulatory Assets	4,573,309	4,586,709
Benefit Costs
Regulatory Assets [Line Items]
Total Regulatory Assets	1,452,500	1,481,000
Storm Costs, Net
Regulatory Assets [Line Items]
Total Regulatory Assets	1,249,300	1,102,700
Regulatory Tracking Mechanisms
Regulatory Assets [Line Items]
Total Regulatory Assets	937,700	1,050,500
Income Taxes, Net
Regulatory Assets [Line Items]
Total Regulatory Assets	791,200	790,700
Securitized Stranded Costs
Regulatory Assets [Line Items]
Total Regulatory Assets	468,100	478,900
Goodwill-related
Regulatory Assets [Line Items]
Total Regulatory Assets	293,600	297,800
Derivative Liabilities
Regulatory Assets [Line Items]
Total Regulatory Assets	229,400	249,200
Asset Retirement Obligations
Regulatory Assets [Line Items]
Total Regulatory Assets	117,500	115,000
Other Regulatory Assets
Regulatory Assets [Line Items]
Total Regulatory Assets	162,100	150,000
CL&P
Regulatory Assets [Line Items]
Total Regulatory Assets	2,063,200	2,084,800
Less:  Current Portion	382,112	371,609
Total Long-Term Regulatory Assets	1,681,057	1,713,161
CL&P | Benefit Costs
Regulatory Assets [Line Items]
Total Regulatory Assets	268,000	272,400
CL&P | Storm Costs, Net
Regulatory Assets [Line Items]
Total Regulatory Assets	735,700	695,600
CL&P | Regulatory Tracking Mechanisms
Regulatory Assets [Line Items]
Total Regulatory Assets	295,200	333,600
CL&P | Income Taxes, Net
Regulatory Assets [Line Items]
Total Regulatory Assets	471,800	470,500
CL&P | Securitized Stranded Costs
Regulatory Assets [Line Items]
Total Regulatory Assets	0	0
CL&P | Goodwill-related
Regulatory Assets [Line Items]
Total Regulatory Assets	0	0
CL&P | Derivative Liabilities
Regulatory Assets [Line Items]
Total Regulatory Assets	229,400	249,200
CL&P | Asset Retirement Obligations
Regulatory Assets [Line Items]
Total Regulatory Assets	34,200	33,600
CL&P | Other Regulatory Assets
Regulatory Assets [Line Items]
Total Regulatory Assets	28,900	29,900
NSTAR Electric
Regulatory Assets [Line Items]
Total Regulatory Assets	1,673,500	1,579,200
Less:  Current Portion	433,653	443,956
Total Long-Term Regulatory Assets	1,239,773	1,135,231
NSTAR Electric | Benefit Costs
Regulatory Assets [Line Items]
Total Regulatory Assets	386,900	395,500
NSTAR Electric | Storm Costs, Net
Regulatory Assets [Line Items]
Total Regulatory Assets	449,400	341,300
NSTAR Electric | Regulatory Tracking Mechanisms
Regulatory Assets [Line Items]
Total Regulatory Assets	375,000	376,600
NSTAR Electric | Income Taxes, Net
Regulatory Assets [Line Items]
Total Regulatory Assets	112,800	112,600
NSTAR Electric | Securitized Stranded Costs
Regulatory Assets [Line Items]
Total Regulatory Assets	0	0
NSTAR Electric | Goodwill-related
Regulatory Assets [Line Items]
Total Regulatory Assets	252,100	255,700
NSTAR Electric | Derivative Liabilities
Regulatory Assets [Line Items]
Total Regulatory Assets	0	0
NSTAR Electric | Asset Retirement Obligations
Regulatory Assets [Line Items]
Total Regulatory Assets	61,900	59,800
NSTAR Electric | Other Regulatory Assets
Regulatory Assets [Line Items]
Total Regulatory Assets	35,400	37,700
PSNH
Regulatory Assets [Line Items]
Total Regulatory Assets	779,200	786,400
Less:  Current Portion	124,701	107,169
Total Long-Term Regulatory Assets	654,507	679,182
PSNH | Benefit Costs
Regulatory Assets [Line Items]
Total Regulatory Assets	116,500	118,900
PSNH | Storm Costs, Net
Regulatory Assets [Line Items]
Total Regulatory Assets	64,200	65,800
PSNH | Regulatory Tracking Mechanisms
Regulatory Assets [Line Items]
Total Regulatory Assets	97,000	85,400
PSNH | Income Taxes, Net
Regulatory Assets [Line Items]
Total Regulatory Assets	14,500	17,500
PSNH | Securitized Stranded Costs
Regulatory Assets [Line Items]
Total Regulatory Assets	468,100	478,900
PSNH | Goodwill-related
Regulatory Assets [Line Items]
Total Regulatory Assets	0	0
PSNH | Derivative Liabilities
Regulatory Assets [Line Items]
Total Regulatory Assets	0	0
PSNH | Asset Retirement Obligations
Regulatory Assets [Line Items]
Total Regulatory Assets	4,200	4,100
PSNH | Other Regulatory Assets
Regulatory Assets [Line Items]
Total Regulatory Assets	$ 14,700	$ 15,800

XML

REGULATORY ACCOUNTING - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Regulatory Assets [Line Items]
Amount of regulatory costs not yet approved	$ 262.5	$ 252.5
COVID-19
Regulatory Assets [Line Items]
Net incremental deferred costs	35.0	33.0
CL&P
Regulatory Assets [Line Items]
Amount of regulatory costs not yet approved	113.4	114.9
CL&P | COVID-19
Regulatory Assets [Line Items]
Net incremental deferred costs	15.3	18.0
NSTAR Electric
Regulatory Assets [Line Items]
Amount of regulatory costs not yet approved	84.2	85.0
NSTAR Electric | COVID-19
Regulatory Assets [Line Items]
Net incremental deferred costs	6.1	6.1
PSNH
Regulatory Assets [Line Items]
Amount of regulatory costs not yet approved	$ 3.4	$ 3.4

XML

REGULATORY ACCOUNTING - Components of Regulatory Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	$ 4,547,200	$ 4,468,700
Less:  Current Portion	652,358	602,432
Total Long-Term Regulatory Liabilities	3,894,768	3,866,251
EDIT due to Tax Cuts and Jobs Act of 2017
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	2,665,700	2,685,200
Cost of Removal
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	667,200	649,600
Regulatory Tracking Mechanisms
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	571,800	448,400
Benefit Costs
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	128,300	133,500
AFUDC - Transmission
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	85,100	81,000
CL&P Settlement Agreement and Storm Performance Penalty
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	12,900	81,300
Other Regulatory Liabilities
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	416,200	389,700
CL&P
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	1,459,900	1,459,800
Less:  Current Portion	251,555	266,489
Total Long-Term Regulatory Liabilities	1,208,297	1,193,259
CL&P | EDIT due to Tax Cuts and Jobs Act of 2017
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	992,700	996,100
CL&P | Cost of Removal
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	108,600	100,100
CL&P | Regulatory Tracking Mechanisms
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	226,700	182,000
CL&P | Benefit Costs
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	0	0
CL&P | AFUDC - Transmission
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	44,000	43,200
CL&P | CL&P Settlement Agreement and Storm Performance Penalty
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	12,900	81,300
CL&P | Other Regulatory Liabilities
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	75,000	57,100
NSTAR Electric
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	1,850,300	1,787,300
Less:  Current Portion	279,299	228,248
Total Long-Term Regulatory Liabilities	1,570,969	1,559,072
NSTAR Electric | EDIT due to Tax Cuts and Jobs Act of 2017
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	973,300	984,500
NSTAR Electric | Cost of Removal
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	388,200	381,000
NSTAR Electric | Regulatory Tracking Mechanisms
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	237,200	185,100
NSTAR Electric | Benefit Costs
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	103,100	107,400
NSTAR Electric | AFUDC - Transmission
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	41,100	37,800
NSTAR Electric | CL&P Settlement Agreement and Storm Performance Penalty
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	0	0
NSTAR Electric | Other Regulatory Liabilities
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	107,400	91,500
PSNH
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	495,200	501,600
Less:  Current Portion	106,393	120,176
Total Long-Term Regulatory Liabilities	388,838	381,366
PSNH | EDIT due to Tax Cuts and Jobs Act of 2017
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	356,100	359,200
PSNH | Cost of Removal
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	19,100	17,200
PSNH | Regulatory Tracking Mechanisms
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	94,900	107,000
PSNH | Benefit Costs
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	0	0
PSNH | AFUDC - Transmission
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	0	0
PSNH | CL&P Settlement Agreement and Storm Performance Penalty
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	0	0
PSNH | Other Regulatory Liabilities
Regulatory Liabilities [Line Items]
Total Regulatory Liabilities	$ 25,100	$ 18,200

XML

PROPERTY, PLANT AND EQUIPMENT AND ACCUMULATED DEPRECIATION - Summary of Property, Plant, and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Public Utility, Property, Plant and Equipment [Line Items]
Distribution - Electric	$ 17,809,000	$ 17,679,100
Distribution - Natural Gas	6,713,700	6,694,800
Transmission - Electric	13,011,000	12,882,400
Distribution - Water	1,924,900	1,900,900
Solar	200,900	200,900
Utility	39,659,500	39,358,100
Other	1,509,600	1,469,500
Property, Plant and Equipment, Gross	41,169,100	40,827,600
Less:  Accumulated Depreciation
Utility	(8,976,200)	(8,885,200)
Other	(609,800)	(580,100)
Total Accumulated Depreciation	(9,586,000)	(9,465,300)
Property, Plant and Equipment, Net	31,583,100	31,362,300
Construction Work in Progress	2,269,500	2,015,400
Total Property, Plant and Equipment, Net	33,852,596	33,377,650
CL&P
Public Utility, Property, Plant and Equipment [Line Items]
Distribution - Electric	7,188,900	7,117,600
Transmission - Electric	5,912,500	5,859,000
Solar	0	0
Property, Plant and Equipment, Gross	13,101,400	12,976,600
Less:  Accumulated Depreciation
Total Accumulated Depreciation	(2,592,600)	(2,572,100)
Property, Plant and Equipment, Net	10,508,800	10,404,500
Construction Work in Progress	432,200	399,000
Total Property, Plant and Equipment, Net	10,941,005	10,803,543
NSTAR Electric
Public Utility, Property, Plant and Equipment [Line Items]
Distribution - Electric	8,151,100	8,105,500
Transmission - Electric	5,137,100	5,090,500
Solar	200,900	200,900
Property, Plant and Equipment, Gross	13,489,100	13,396,900
Less:  Accumulated Depreciation
Total Accumulated Depreciation	(3,271,800)	(3,227,300)
Property, Plant and Equipment, Net	10,217,300	10,169,600
Construction Work in Progress	791,600	707,000
Total Property, Plant and Equipment, Net	11,008,899	10,876,614
PSNH
Public Utility, Property, Plant and Equipment [Line Items]
Distribution - Electric	2,509,300	2,496,200
Transmission - Electric	1,963,100	1,934,600
Solar	0	0
Property, Plant and Equipment, Gross	4,472,400	4,430,800
Less:  Accumulated Depreciation
Total Accumulated Depreciation	(912,800)	(908,400)
Property, Plant and Equipment, Net	3,559,600	3,522,400
Construction Work in Progress	163,000	134,100
Total Property, Plant and Equipment, Net	$ 3,722,618	$ 3,656,462

XML

DERIVATIVE INSTRUMENTS - Gross Fair Values and Net Amounts of Contracts (Details) - CL&P - Level 3 - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Current Derivative Assets
Derivative Assets (Liabilities), at Fair Value, Net, by Balance Sheet Classification [Abstract]
Commodity Supply and Price Risk Management	$ 14.8	$ 14.7
Netting	(0.4)	(1.0)
Net Amount Recorded as a Derivative	14.4	13.7
Other Long-Term Assets
Derivative Assets (Liabilities), at Fair Value, Net, by Balance Sheet Classification [Abstract]
Commodity Supply and Price Risk Management	41.4	46.9
Netting	(1.3)	(0.9)
Net Amount Recorded as a Derivative	40.1	46.0
Current Derivative Liabilities
Current and Long-Term Derivative Liabilities
Commodity Supply and Price Risk Management	(74.4)	(73.5)
Netting	0.0	0.0
Net Amount Recorded as a Derivative	(74.4)	(73.5)
Long-Term Derivative Liabilities
Current and Long-Term Derivative Liabilities
Commodity Supply and Price Risk Management	(209.5)	(235.4)
Netting	0.0	0.0
Net Amount Recorded as a Derivative	$ (209.5)	$ (235.4)

XML

DERIVATIVE INSTRUMENTS - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2022 USD ($) MW	Mar. 31, 2021 USD ($)	Dec. 31, 2021 $ / KWmo MW
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Percentage of costs or benefits borne under capacity-related contracts by United Illuminated Company	20.00%
Amount of power to be purchased under capacity-related contract (in MW) | MW	675		675
Gains (losses) on deferred as regulatory costs | $	$ 6.2	$ (11.1)
Level 3 | Minimum
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Percentage of exit price premiums related to derivative contracts	4.50%
Level 3 | Maximum
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Percentage of exit price premiums related to derivative contracts	8.80%
Level 3 | Weighted Average
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Percentage of exit price premiums related to derivative contracts	7.70%
CL&P
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Percentage of costs or benefits borne under capacity-related contracts	80.00%
CL&P | Weighted Average | Measurement Input, Capacity Prices
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative measurement input | $ / KWmo			2.61

XML

DERIVATIVE INSTRUMENTS - Summary of Level 3 Derivative Contracts and Significant Unobservable Inputs Used (Details) - CL&P - Forward Reserve Prices - Level 3 - $ / KWmo	Mar. 31, 2022	Dec. 31, 2021
Minimum
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative measurement input	0.50	0.50
Maximum
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative measurement input	1.15	1.15
Weighted Average
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative measurement input	0.82	0.82

XML

DERIVATIVE INSTRUMENTS - Changes in the Level 3 Category of Derivative Assets Measured at Fair Value on a Recurring Basis (Details) - CL&P - Level 3 - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Derivatives, Net [Rollforward]
Fair Value as of Beginning of Period	$ (249.2)	$ (293.1)
Net Realized/Unrealized Gains/(Losses) Included in Regulatory Assets	6.2	(12.5)
Settlements	13.6	12.5
Fair Value as of End of Period	$ (229.4)	$ (293.1)

XML

MARKETABLE SECURITIES - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Available-for-sale equity securities	$ 31.5		$ 40.2
Unrealized (loss) gain recorded in other income	(4.4)	$ 1.1
CYAPC and YAEC
Debt Securities, Available-for-sale [Line Items]
Available-for-sale equity securities	195.5		214.0
Marketable securities held in nuclear decommissioning trust	$ 183.4		$ 189.9

XML

MARKETABLE SECURITIES - Summary of Available-for-Sale Debt Securities (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Amortized Cost	$ 211.4	$ 214.5
Pre-Tax Unrealized Gains	0.5	5.1
Pre-Tax Unrealized Losses	(3.6)	(0.2)
Fair Value	$ 208.3	$ 219.4

XML

MARKETABLE SECURITIES - Contractual Maturities of Available-for-Sale Debt Securities (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Amortized Cost
Less than one year	$ 27.0
One to five years	61.9
Six to ten years	36.3
Greater than ten years	86.2
Amortized Cost	211.4	$ 214.5
Fair Value
Less than one year	27.0
One to five years	61.6
Six to ten years	35.5
Greater than ten years	84.2
Fair Value	$ 208.3	$ 219.4

XML

MARKETABLE SECURITIES - Marketable Securities Recorded at Fair Value on a Recurring Basis by Level (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	$ 435.3	$ 473.6
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	253.0	285.5
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	182.3	188.1
Mutual Funds and Equities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	227.0	254.2
Money Market Funds | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	26.0	31.3
U.S. Government Issued Debt Securities (Agency and Treasury) | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	80.0	81.3
Corporate Debt Securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	62.5	65.3
Asset-Backed Debt Securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	11.6	12.6
Municipal Bonds | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	11.7	12.3
Other Fixed Income Securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	$ 16.5	$ 16.6

XML

SHORT-TERM AND LONG-TERM DEBT - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
NSTAR Electric
Line of Credit Facility [Line Items]
Notes payable to Eversource parent	$ 4,000,000
PSNH
Line of Credit Facility [Line Items]
Notes payable to Eversource parent	196,400,000	$ 110,600,000
Line of Credit | CL&P
Line of Credit Facility [Line Items]
Maximum borrowing capacity	450,000,000
Amount outstanding under line of credit	0
Line of Credit | PSNH
Line of Credit Facility [Line Items]
Maximum borrowing capacity	300,000,000
Amount outstanding under line of credit	0
Commercial Paper | NSTAR Electric
Line of Credit Facility [Line Items]
Maximum borrowing capacity	650,000,000
Line of Credit
Line of Credit Facility [Line Items]
Amount outstanding under line of credit	0	$ 0
Line of Credit | NSTAR Electric
Line of Credit Facility [Line Items]
Maximum borrowing capacity	650,000,000
Eversource Parent | Commercial Paper
Line of Credit Facility [Line Items]
Maximum borrowing capacity	2,000,000,000
Eversource Parent | Line of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 2,000,000,000
Debt instrument term	5 years
NSTAR Electric | Line of Credit | NSTAR Electric
Line of Credit Facility [Line Items]
Debt instrument term	5 years

XML

SHORT-TERM AND LONG-TERM DEBT - Borrowings Outstanding and Available under the Commercial Paper Programs (Details) - Commercial Paper - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Borrowings outstanding	$ 1,393.8	$ 1,343.0
Available borrowing capacity	$ 606.2	$ 657.0
Weighted-average interest rate	0.93%	0.31%
NSTAR Electric
Debt Instrument [Line Items]
Borrowings outstanding	$ 275.0	$ 162.5
Available borrowing capacity	$ 375.0	$ 487.5
Weighted-average interest rate	0.43%	0.14%

XML

SHORT-TERM AND LONG-TERM DEBT - Summary of Long-Term Debt Issuance and Repayments (Details) - USD ($) $ in Thousands	1 Months Ended		3 Months Ended
	Mar. 31, 2022	Feb. 28, 2022	Mar. 31, 2022	Mar. 31, 2021
Debt Instrument [Line Items]
Repayments			$ (770,000)	$ (572,000)
Yankee Gas | First Mortgage | Yankee Gas 8.48% Series B First Mortgage Bonds
Debt Instrument [Line Items]
Interest rate, stated percentage	8.48%		8.48%
Repayments	$ (20,000)
Eversource Parent | Senior Notes | Eversource Parent 2.90% Series V Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage		2.90%
Issuances		$ 650,000
Eversource Parent | Senior Notes | Eversource Parent 3.38% Series W Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage		3.38%
Issuances		$ 650,000
Eversource Parent | Senior Notes | Eversource Parent 2.75% Series K Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage	2.75%		2.75%
Repayments	$ (750,000)

XML

RATE REDUCTION BONDS AND VARIABLE INTEREST ENTITIES - Narrative (Details) - PSNH - Rate Reduction Bonds	May 31, 2018 USD ($)
Debt Instrument [Line Items]
Amount of securitized rate reduction bonds issued	$ 635,700,000
Weighted average interest rate	3.66%

XML

RATE REDUCTION BONDS AND VARIABLE INTEREST ENTITIES - Summary of the Impact of Funding on the Balance Sheets (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Condensed Balance Sheet Statements, Captions [Line Items]
Securitized Stranded Cost (included in Regulatory Assets)	$ 5,701,400	$ 5,715,800
Regulatory Liabilities	3,894,768	3,866,251
Accrued Interest (included in Other Current Liabilities)	925,467	830,620
Rate Reduction Bonds - Current Portion	43,210	43,210
Rate Reduction Bonds - Long-Term Portion	432,097	453,702
Securitized Stranded Costs
Condensed Balance Sheet Statements, Captions [Line Items]
Securitized Stranded Cost (included in Regulatory Assets)	468,100	478,900
Other Regulatory Assets
Condensed Balance Sheet Statements, Captions [Line Items]
Securitized Stranded Cost (included in Regulatory Assets)	162,100	150,000
Current Derivative Assets
Condensed Balance Sheet Statements, Captions [Line Items]
Restricted Cash	73,300	78,200
Other Long-Term Assets
Condensed Balance Sheet Statements, Captions [Line Items]
Restricted Cash	19,100	44,700
PSNH
Condensed Balance Sheet Statements, Captions [Line Items]
Securitized Stranded Cost (included in Regulatory Assets)	779,200	786,400
Regulatory Liabilities	388,838	381,366
Accrued Interest (included in Other Current Liabilities)	64,356	63,005
Rate Reduction Bonds - Current Portion	43,210	43,210
Rate Reduction Bonds - Long-Term Portion	432,097	453,702
PSNH | VIE
Condensed Balance Sheet Statements, Captions [Line Items]
Rate Reduction Bonds - Current Portion	43,200	43,200
Rate Reduction Bonds - Long-Term Portion	432,100	453,700
PSNH | Securitized Stranded Costs
Condensed Balance Sheet Statements, Captions [Line Items]
Securitized Stranded Cost (included in Regulatory Assets)	468,100	478,900
PSNH | Securitized Stranded Costs | VIE
Condensed Balance Sheet Statements, Captions [Line Items]
Securitized Stranded Cost (included in Regulatory Assets)	468,100	478,900
PSNH | Other Regulatory Assets
Condensed Balance Sheet Statements, Captions [Line Items]
Securitized Stranded Cost (included in Regulatory Assets)	14,700	15,800
PSNH | Other Regulatory Assets | VIE
Condensed Balance Sheet Statements, Captions [Line Items]
Regulatory Liabilities	6,000	5,400
Accrued Interest (included in Other Current Liabilities)	2,900	7,500
PSNH | Current Derivative Assets
Condensed Balance Sheet Statements, Captions [Line Items]
Restricted Cash	16,600	31,400
PSNH | Current Derivative Assets | VIE
Condensed Balance Sheet Statements, Captions [Line Items]
Restricted Cash	16,300	31,100
PSNH | Other Long-Term Assets
Condensed Balance Sheet Statements, Captions [Line Items]
Restricted Cash	3,200	3,200
PSNH | Other Long-Term Assets | VIE
Condensed Balance Sheet Statements, Captions [Line Items]
Restricted Cash	$ 3,200	$ 3,200

XML

RATE REDUCTION BONDS AND VARIABLE INTEREST ENTITIES - Summary of the Impact of Funding on the Income Statements (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Condensed Income Statements, Captions [Line Items]
Interest Expense on RRB Principal (included in Interest Expense)	$ 153,245	$ 137,766
PSNH
Condensed Income Statements, Captions [Line Items]
Amortization of RRB Principal (included in Amortization of Regulatory Assets, Net)	(26,834)	(18,547)
Interest Expense on RRB Principal (included in Interest Expense)	13,645	14,630
PSNH | VIE | Rate Reduction Bonds
Condensed Income Statements, Captions [Line Items]
Amortization of RRB Principal (included in Amortization of Regulatory Assets, Net)	10,800	10,800
Interest Expense on RRB Principal (included in Interest Expense)	$ 4,400	$ 4,700

XML

PENSION BENEFITS AND POSTRETIREMENT BENEFITS OTHER THAN PENSION - Components of Net Periodic Benefit Expense/(Income) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Pension and SERP
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service Cost	$ 17.7	$ 21.3
Interest Cost	38.6	32.6
Expected Return on Plan Assets	(131.7)	(108.9)
Actuarial Loss	30.7	61.6
Prior Service Cost/(Credit)	0.4	0.3
Total Net Periodic Benefit Plan Expense/(Income)	(44.3)	6.9
PBOP
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service Cost	2.8	3.5
Interest Cost	5.0	4.4
Expected Return on Plan Assets	(22.4)	(19.7)
Actuarial Loss	0.0	2.6
Prior Service Cost/(Credit)	(5.4)	(5.3)
Total Net Periodic Benefit Plan Expense/(Income)	(20.0)	(14.5)
CL&P | Pension and SERP
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service Cost	4.5	6.3
Interest Cost	7.8	7.3
Expected Return on Plan Assets	(26.6)	(21.6)
Actuarial Loss	4.2	13.0
Prior Service Cost/(Credit)	0.0	0.0
Total Net Periodic Benefit Plan Expense/(Income)	(10.1)	5.0
Intercompany Expense/(Income) Allocations	(3.8)	1.3
CL&P | PBOP
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service Cost	0.5	0.6
Interest Cost	0.9	0.8
Expected Return on Plan Assets	(2.8)	(2.6)
Actuarial Loss	0.0	0.4
Prior Service Cost/(Credit)	0.2	0.2
Total Net Periodic Benefit Plan Expense/(Income)	(1.2)	(0.6)
Intercompany Expense/(Income) Allocations	(0.9)	(0.3)
NSTAR Electric | Pension and SERP
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service Cost	3.6	4.0
Interest Cost	8.1	6.7
Expected Return on Plan Assets	(32.0)	(26.9)
Actuarial Loss	8.5	15.5
Prior Service Cost/(Credit)	0.1	0.1
Total Net Periodic Benefit Plan Expense/(Income)	(11.7)	(0.6)
Intercompany Expense/(Income) Allocations	(2.9)	1.5
NSTAR Electric | PBOP
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service Cost	0.5	0.6
Interest Cost	1.3	1.1
Expected Return on Plan Assets	(10.6)	(9.3)
Actuarial Loss	0.0	0.6
Prior Service Cost/(Credit)	(4.3)	(4.2)
Total Net Periodic Benefit Plan Expense/(Income)	(13.1)	(11.2)
Intercompany Expense/(Income) Allocations	(0.9)	(0.4)
PSNH | Pension and SERP
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service Cost	1.8	2.2
Interest Cost	4.2	3.6
Expected Return on Plan Assets	(14.1)	(11.9)
Actuarial Loss	2.2	4.9
Prior Service Cost/(Credit)	0.0	0.0
Total Net Periodic Benefit Plan Expense/(Income)	(5.9)	(1.2)
Intercompany Expense/(Income) Allocations	(0.8)	0.5
PSNH | PBOP
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service Cost	0.2	0.3
Interest Cost	0.5	0.5
Expected Return on Plan Assets	(1.6)	(1.5)
Actuarial Loss	0.0	0.3
Prior Service Cost/(Credit)	0.1	0.1
Total Net Periodic Benefit Plan Expense/(Income)	(0.8)	(0.3)
Intercompany Expense/(Income) Allocations	$ (0.3)	$ (0.1)

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PENSION BENEFITS AND POSTRETIREMENT BENEFITS OTHER THAN PENSION - Narrative (Details) $ in Millions	Mar. 31, 2022 USD ($)
PBOP
Defined Benefit Plan Disclosure [Line Items]
Expected pension plan contributions	$ 2.4
Minimum
Defined Benefit Plan Disclosure [Line Items]
Expected pension plan contributions	100.0
Maximum
Defined Benefit Plan Disclosure [Line Items]
Expected pension plan contributions	$ 175.0

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COMMITMENTS AND CONTINGENCIES - Environmental Sites and Related Reserves (Details) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2022 USD ($) site	Dec. 31, 2021 USD ($) site
Site Contingency [Line Items]
Number of Sites | site	61	61
Reserve | $	$ 117.8	$ 115.4
CL&P
Site Contingency [Line Items]
Number of Sites | site	14	14
Reserve | $	$ 14.3	$ 13.9
NSTAR Electric
Site Contingency [Line Items]
Number of Sites | site	11	11
Reserve | $	$ 3.2	$ 3.3
PSNH
Site Contingency [Line Items]
Number of Sites | site	9	9
Reserve | $	$ 6.4	$ 6.3

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COMMITMENTS AND CONTINGENCIES - Environmental Matters (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Site Contingency [Line Items]
Reserve balance	$ 117.8	$ 115.4
MGP Sites
Site Contingency [Line Items]
Reserve balance	$ 108.3	$ 105.6

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COMMITMENTS AND CONTINGENCIES - Non-Cancellable Commitments under Purchase Commitment Contracts (Details) $ in Millions	3 Months Ended
	Mar. 31, 2022 USD ($) megawatt
Offshore Wind Project
Unrecorded Unconditional Purchase Obligation [Line Items]
Contract term	20 years
Energy capacity (in MW) | megawatt	800
Renewable Energy | NSTAR Electric
Unrecorded Unconditional Purchase Obligation [Line Items]
2022	$ 75.6
2023	78.3
2024	269.4
2025	315.8
2026	322.1
Thereafter	5,812.2
Total	6,873.4
Renewable Energy | NSTAR Electric | Massachusetts Clean Energy 83D Contract
Unrecorded Unconditional Purchase Obligation [Line Items]
Total	$ 6,000.0
Contract term	20 years
Renewable Energy | NSTAR Electric | Minimum | Massachusetts Clean Energy 83D Contract
Unrecorded Unconditional Purchase Obligation [Line Items]
Estimated costs	$ 240.0
Renewable Energy | NSTAR Electric | Maximum | Massachusetts Clean Energy 83D Contract
Unrecorded Unconditional Purchase Obligation [Line Items]
Estimated costs	$ 375.0

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COMMITMENTS AND CONTINGENCIES - Guarantees and Obligations Narrative (Details) - USD ($)	Apr. 30, 2022	Mar. 31, 2022	Jan. 31, 2022	Dec. 31, 2021	Sep. 16, 2020
Loss Contingencies [Line Items]
Fair value of guarantees		$ 7,000,000		$ 7,300,000
Letter of Credit | South Fork Wind, LLC
Loss Contingencies [Line Items]
Amount outstanding under line of credit			$ 4,300,000
Letter of Credit | Eversource Investment LLC
Loss Contingencies [Line Items]
Maximum borrowing capacity					$ 25,000,000
Subsequent Event | Letter of Credit | South Fork Wind, LLC
Loss Contingencies [Line Items]
Amount outstanding under line of credit	$ 160,200,000

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COMMITMENTS AND CONTINGENCIES - Guarantees and Indemnifications (Details) - USD ($) $ in Millions	Mar. 31, 2022	Oct. 23, 2019	Jan. 25, 2017
North East Offshore LLC
Guarantor Obligations [Line Items]
Ownership interest	50.00%
Sunrise Wind LLC
Guarantor Obligations [Line Items]
Maximum exposure (up to)	$ 420.6
Ownership interest	50.00%
Revolution Wind, LLC
Guarantor Obligations [Line Items]
Maximum exposure (up to)	$ 268.5
Ownership interest	50.00%
South Fork Wind, LLC
Guarantor Obligations [Line Items]
Maximum exposure (up to)	$ 184.0
Eversource Investment LLC | North East Offshore LLC
Guarantor Obligations [Line Items]
Ownership interest	50.00%
Construction-related purchase agreements with third-party contractors | South Fork Wind, LLC
Guarantor Obligations [Line Items]
Ownership interest	50.00%
Construction-related purchase agreements with third-party contractors | North East Offshore LLC
Guarantor Obligations [Line Items]
Maximum exposure (up to)	$ 936.3
Construction-related purchase agreements with third-party contractors | Sunrise Wind LLC
Guarantor Obligations [Line Items]
Maximum exposure (up to)	330.6
Construction-related purchase agreements with third-party contractors | Revolution Wind, LLC
Guarantor Obligations [Line Items]
Maximum exposure (up to)	254.7
Construction-related purchase agreements with third-party contractors | South Fork Wind, LLC
Guarantor Obligations [Line Items]
Maximum exposure (up to)	165.3
Funding and indemnification obligations of North East Offshore LLC | Eversource Investment LLC
Guarantor Obligations [Line Items]
Maximum exposure (up to)	107.8
Funding and indemnification obligations of North East Offshore LLC | Eversource Investment LLC | North East Offshore LLC
Guarantor Obligations [Line Items]
Maximum exposure (up to)	910.0
Power Purchase Agreement | South Fork Wind, LLC
Guarantor Obligations [Line Items]
Maximum exposure (up to)	$ 7.1		$ 7.1
Ownership interest	50.00%
OREC capacity production | Sunrise Wind LLC
Guarantor Obligations [Line Items]
Maximum exposure (up to)	$ 2.2	$ 15.4
Ownership interest	50.00%
Real estate purchase | Bay State Wind LLC
Guarantor Obligations [Line Items]
Maximum exposure (up to)	$ 2.5
Transmission interconnection | South Fork Wind, LLC
Guarantor Obligations [Line Items]
Maximum exposure (up to)	1.2
Letter of Credit | Eversource Investment LLC
Guarantor Obligations [Line Items]
Maximum exposure (up to)	4.3
Surety bonds | Various
Guarantor Obligations [Line Items]
Maximum exposure (up to)	35.0
Lease payments for real estate | Eversource Service
Guarantor Obligations [Line Items]
Maximum exposure (up to)	0.7
Performance guarantee | North East Offshore LLC
Guarantor Obligations [Line Items]
Maximum exposure (up to)	$ 1,300.0
Percent of obligations guaranteed	50.00%
Payment guarantee | North East Offshore LLC
Guarantor Obligations [Line Items]
Maximum exposure (up to)	$ 62.5
Percent of obligations guaranteed	50.00%

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COMMITMENTS AND CONTINGENCIES - Spent Nuclear Fuel Obligations - Yankee Companies (Details) $ in Millions	Mar. 25, 2021 USD ($)
CYAPC, YAEC, and MYAPC | Yankee Companies
Loss Contingencies [Line Items]
Damages sought	$ 120.4

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COMMITMENTS AND CONTINGENCIES - FERC ROE Complaints (Details) $ in Millions			3 Months Ended	36 Months Ended
	Apr. 29, 2016 complaint	Oct. 16, 2014	Mar. 31, 2022 USD ($)	Oct. 15, 2014	Dec. 31, 2021 USD ($)	Oct. 16, 2018 complaint	Jul. 31, 2014 complaint
Loss Contingencies [Line Items]
Percentage of base ROE reasonably justified			10.41%
Percentage of incentive cap on total ROE			13.08%
FERC ROE Complaints
Loss Contingencies [Line Items]
Number of complaints filed | complaint	4					4
Period of complaint			15 months
Basis point change			0.10%
Estimate of possible loss for each 10 basis point change to base ROE			$ 3.0
FERC ROE First, Second and Third Complaints
Loss Contingencies [Line Items]
Number of complaints filed | complaint							3
Base ROE subsequently authorized			11.14%
FERC ROE First, Second and Third Complaints | Minimum
Loss Contingencies [Line Items]
Percentage of maximum ROE for any incentive project				11.14%
FERC ROE First, Second and Third Complaints | Maximum
Loss Contingencies [Line Items]
Percentage of maximum ROE for any incentive project				13.10%
FERC ROE Fourth Complaint
Loss Contingencies [Line Items]
Base ROE percentage of complaint period	10.57%
Maximum percentage cap of ROE for incentive projects	11.74%
FERC ROE First Complaint
Loss Contingencies [Line Items]
Base ROE subsequently authorized		10.57%
Percentage of maximum ROE for any incentive project		11.74%
Amounts associated with first complaint refunded			$ 38.9
FERC ROE First Complaint | CL&P
Loss Contingencies [Line Items]
Amounts associated with first complaint refunded			22.4
FERC ROE First Complaint | NSTAR Electric
Loss Contingencies [Line Items]
Amounts associated with first complaint refunded			13.7
FERC ROE First Complaint | PSNH
Loss Contingencies [Line Items]
Amounts associated with first complaint refunded			$ 2.8
FERC ROE Second Complaint
Loss Contingencies [Line Items]
Base ROE percentage of complaint period			10.57%
Percentage of maximum ROE for any incentive project			11.74%
Loss contingency, estimate of possible earnings impact			$ 39.1		$ 39.1
FERC ROE Second Complaint | CL&P
Loss Contingencies [Line Items]
Loss contingency, estimate of possible earnings impact			21.4		21.4
FERC ROE Second Complaint | NSTAR Electric
Loss Contingencies [Line Items]
Loss contingency, estimate of possible earnings impact			14.6		14.6
FERC ROE Second Complaint | PSNH
Loss Contingencies [Line Items]
Loss contingency, estimate of possible earnings impact			$ 3.1		$ 3.1

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COMMITMENTS AND CONTINGENCIES - Eversource and NSTAR Electric Boston Harbor Civil Action (Details)	Jul. 15, 2016 kV
Commitments and Contingencies Disclosure [Abstract]
Amount of capacity required for installation of distribution cable (in kV)	115

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COMMITMENTS AND CONTINGENCIES - CL&P Tropical Storm Isaias Response Investigation (Details) - USD ($) $ / shares in Units, $ in Millions	Jul. 14, 2021	May 07, 2021	May 06, 2021	Apr. 28, 2021
Loss Contingencies [Line Items]
Loss contingency, allowed rate of ROE				9.25%
Unfavorable Regulatory Action
Loss Contingencies [Line Items]
Loss contingency, estimate of possible earnings impact			$ 30.0
Loss contingency, estimate of possible earnings impact, non-compliance with performance standards			28.4
Loss contingency, estimate of possible earnings impact, accident reporting violation fines			$ 1.6
Non-compliance fine	$ 28.6
Loss contingency, accident reporting violation fines	$ 0.2
Loss contingency, penalty rate as a percent of distribution revenues		2.50%
Loss contingency, after-tax earnings impact per share (in dollars per share)	$ 0.07

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FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Preferred Stock Not Subject to Mandatory Redemption	$ 155,570	$ 155,570
Rate Reduction Bonds	432,097	453,702
Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Preferred Stock Not Subject to Mandatory Redemption	155,600	155,600
Long-Term Debt	18,729,600	18,216,700
Rate Reduction Bonds	475,300	496,900
Fair Value | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Preferred Stock Not Subject to Mandatory Redemption	158,300	166,300
Long-Term Debt	18,562,300	19,636,300
Rate Reduction Bonds	492,800	543,300
CL&P
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Preferred Stock Not Subject to Mandatory Redemption	116,200	116,200
CL&P | Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Preferred Stock Not Subject to Mandatory Redemption	116,200	116,200
Long-Term Debt	4,215,700	4,215,400
Rate Reduction Bonds	0	0
CL&P | Fair Value | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Preferred Stock Not Subject to Mandatory Redemption	115,500	122,300
Long-Term Debt	4,392,200	4,848,900
Rate Reduction Bonds	0	0
NSTAR Electric
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Preferred Stock Not Subject to Mandatory Redemption	43,000	43,000
NSTAR Electric | Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Preferred Stock Not Subject to Mandatory Redemption	43,000	43,000
Long-Term Debt	3,986,300	3,985,400
Rate Reduction Bonds	0	0
NSTAR Electric | Fair Value | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Preferred Stock Not Subject to Mandatory Redemption	42,800	44,000
Long-Term Debt	4,094,100	4,453,500
Rate Reduction Bonds	0	0
PSNH
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Rate Reduction Bonds	432,097	453,702
PSNH | Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Preferred Stock Not Subject to Mandatory Redemption	0	0
Long-Term Debt	1,164,000	1,163,800
Rate Reduction Bonds	475,300	496,900
PSNH | Fair Value | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Preferred Stock Not Subject to Mandatory Redemption	0	0
Long-Term Debt	1,086,300	1,220,600
Rate Reduction Bonds	$ 492,800	$ 543,300

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ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
AOCI Attributable to Parent [Roll Forward]
OCI Before Reclassifications	$ (800)	$ (700)
Amounts Reclassified from AOCI	1,500	1,900
Net OCI	704	1,188
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent [Roll Forward]
Beginning balance	(42,300)	(76,400)
Net OCI	704	1,188
Ending balance	(41,600)	(75,200)
Qualified Cash Flow Hedging Instruments
AOCI Attributable to Parent [Roll Forward]
Beginning balance	(400)	(1,400)
OCI Before Reclassifications	0	0
Amounts Reclassified from AOCI	0	400
Net OCI	0	400
Ending balance	(400)	(1,000)
Unrealized Gains/(Losses) on Marketable Securities
AOCI Attributable to Parent [Roll Forward]
Beginning balance	400	1,100
OCI Before Reclassifications	(800)	(700)
Amounts Reclassified from AOCI	0	0
Net OCI	(800)	(700)
Ending balance	(400)	400
Defined Benefit Plans
AOCI Attributable to Parent [Roll Forward]
Beginning balance	(42,300)	(76,100)
OCI Before Reclassifications	0	0
Amounts Reclassified from AOCI	1,500	1,500
Net OCI	1,500	1,500
Ending balance	$ (40,800)	$ (74,600)

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COMMON SHARES - Common Shares Authorized and Issued (Details) - $ / shares	Mar. 31, 2022	Dec. 31, 2021
Class of Stock [Line Items]
Par value (in dollars per share)	$ 5
Authorized (in shares)	380,000,000	380,000,000
Issued (in shares)	357,818,402	357,818,402
CL&P
Class of Stock [Line Items]
Par value (in dollars per share)	$ 10
Authorized (in shares)	24,500,000	24,500,000
Issued (in shares)	6,035,205	6,035,205
NSTAR Electric
Class of Stock [Line Items]
Par value (in dollars per share)	$ 1
Authorized (in shares)	100,000,000	100,000,000
Issued (in shares)	200	200
PSNH
Class of Stock [Line Items]
Par value (in dollars per share)	$ 1
Authorized (in shares)	100,000,000	100,000,000
Issued (in shares)	301	301

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COMMON SHARES - Narrative (Details) - shares	Mar. 31, 2022	Dec. 31, 2021
Equity [Abstract]
Treasury stock (in shares)	12,968,130	13,415,206
Common stock outstanding (in shares)	344,850,272	344,403,196

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COMMON SHAREHOLDERS' EQUITY AND NONCONTROLLING INTERESTS (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Equity [Abstract]
Dividends on preferred stock	$ 1,880	$ 1,880
Noncontrolling interest attributed to preferred stock of subsidiaries	$ 155,570		$ 155,570

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EARNINGS PER SHARE - Narrative (Details) shares in Thousands	3 Months Ended
	Mar. 31, 2022 shares
Earnings Per Share [Abstract]
Antidilutive share awards excluded from the EPS computation (in shares)	0

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EARNINGS PER SHARE - Components of Basic and Diluted EPS (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Earnings Per Share [Abstract]
Net Income Attributable to Common Shareholders	$ 443,446	$ 366,143
Net Income Attributable to Common Shareholders	$ 443,400	$ 366,100
Weighted Average Common Shares Outstanding:
Basic (in shares)	345,156,346	343,678,243
Share-Based Compensation Awards and Other (in shares)	504,787	656,446
Diluted (in shares)	345,661,133	344,334,689
Basic EPS (in dollars per share)	$ 1.28	$ 1.07
Diluted EPS (in dollars per share)	$ 1.28	$ 1.06

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REVENUES (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Sep. 01, 2021	May 06, 2021
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	$ 3,452,000	$ 2,771,700
Alternative Revenue Programs	15,800	52,500
Other Revenues	3,500	1,600
Operating Revenues	3,471,310	2,825,840
(Customer Credits)/Reserve at CL&P related to PURA Settlement Agreement and Storm Performance Penalty	$ (58,412)	$ 30,000
Operating Lease, Income, Comprehensive Income [Extensible Enumeration]	Operating Revenues	Operating Revenues
Lease revenue	$ 1,000	$ 1,600
Unfavorable Regulatory Action
Disaggregation of Revenue [Line Items]
Loss contingency, estimate of possible earnings impact, non-compliance with performance standards					$ 28,400
CL&P
Disaggregation of Revenue [Line Items]
Operating Revenues	1,285,831	987,274
(Customer Credits)/Reserve at CL&P related to PURA Settlement Agreement and Storm Performance Penalty	$ (58,412)	$ 30,000
Operating Lease, Income, Comprehensive Income [Extensible Enumeration]	Operating Revenues	Operating Revenues
Lease revenue	$ 200	$ 200
CL&P | Unfavorable Regulatory Action
Disaggregation of Revenue [Line Items]
Loss contingency, estimate of possible earnings impact, non-compliance with performance standards				$ 28,400
CL&P | Unfavorable Regulatory Action | Sales
Disaggregation of Revenue [Line Items]
(Customer Credits)/Reserve at CL&P related to PURA Settlement Agreement and Storm Performance Penalty	65,000
NSTAR Electric
Disaggregation of Revenue [Line Items]
Operating Revenues	$ 863,176	$ 737,043
Operating Lease, Income, Comprehensive Income [Extensible Enumeration]	Operating Revenues	Operating Revenues
Lease revenue	$ 600	$ 1,100
PSNH
Disaggregation of Revenue [Line Items]
Operating Revenues	$ 339,427	$ 293,435
Operating Lease, Income, Comprehensive Income [Extensible Enumeration]	Operating Revenues	Operating Revenues
Total Retail Tariff Sales Revenues
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	$ 2,857,900	$ 2,476,300
Residential
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	1,771,200	1,560,000
Commercial
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	932,400	779,900
Industrial
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	154,300	136,400
Wholesale Transmission Revenues
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	105,900	92,500
Wholesale Market Sales Revenues
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	399,800	176,300
Other Revenues from Contracts with Customers
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	30,400	26,600
(Reserve for)/Amortization of Revenues Subject to Refund
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	58,000
Operating Segments | CL&P
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	1,430,100	1,102,700
Alternative Revenue Programs	1,300	8,900
Other Revenues	100	200
Operating Segments | NSTAR Electric
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	1,004,700	838,500
Alternative Revenue Programs	(8,200)	13,800
Other Revenues	2,000	1,100
Operating Segments | PSNH
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	395,100	333,700
Alternative Revenue Programs	(3,300)	3,000
Other Revenues	900	0
Operating Segments | Total Retail Tariff Sales Revenues | CL&P
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	874,800	796,700
Operating Segments | Total Retail Tariff Sales Revenues | NSTAR Electric
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	770,000	655,300
Operating Segments | Total Retail Tariff Sales Revenues | PSNH
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	292,900	257,300
Operating Segments | Residential | CL&P
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	599,100	545,800
Operating Segments | Residential | NSTAR Electric
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	404,600	362,400
Operating Segments | Residential | PSNH
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	182,500	157,800
Operating Segments | Commercial | CL&P
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	242,200	214,200
Operating Segments | Commercial | NSTAR Electric
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	331,300	268,300
Operating Segments | Commercial | PSNH
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	88,400	77,800
Operating Segments | Industrial | CL&P
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	33,500	36,700
Operating Segments | Industrial | NSTAR Electric
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	34,100	24,600
Operating Segments | Industrial | PSNH
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	22,000	21,700
Operating Segments | Wholesale Transmission Revenues | CL&P
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	209,100	189,000
Operating Segments | Wholesale Transmission Revenues | NSTAR Electric
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	165,200	147,100
Operating Segments | Wholesale Transmission Revenues | PSNH
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	71,900	58,200
Operating Segments | Wholesale Market Sales Revenues | CL&P
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	279,900	109,700
Operating Segments | Wholesale Market Sales Revenues | NSTAR Electric
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	57,900	24,400
Operating Segments | Wholesale Market Sales Revenues | PSNH
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	27,700	15,000
Operating Segments | Other Revenues from Contracts with Customers | CL&P
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	7,900	7,300
Operating Segments | Other Revenues from Contracts with Customers | NSTAR Electric
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	11,600	11,700
Operating Segments | Other Revenues from Contracts with Customers | PSNH
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	2,600	3,200
Operating Segments | (Reserve for)/Amortization of Revenues Subject to Refund | CL&P
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	58,400	0
Operating Segments | (Reserve for)/Amortization of Revenues Subject to Refund | NSTAR Electric
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	0	0
Operating Segments | (Reserve for)/Amortization of Revenues Subject to Refund | PSNH
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	0	0
Operating Segments | Reserves For Revenues Subject To Refund | CL&P | Unfavorable Regulatory Action
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers			$ 93,400
Other
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	383,500	343,000
Alternative Revenue Programs	0	0
Other Revenues	0	0
Operating Revenues	383,500	343,000
Other | Total Retail Tariff Sales Revenues
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	0	0
Other | Residential
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	0	0
Other | Commercial
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	0	0
Other | Industrial
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	0	0
Other | Wholesale Transmission Revenues
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	24,400	19,200
Other | Wholesale Market Sales Revenues
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	0	0
Other | Other Revenues from Contracts with Customers
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	359,100	323,800
Other | (Reserve for)/Amortization of Revenues Subject to Refund
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	0
Eliminations
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	(723,400)	(647,200)
Alternative Revenue Programs	13,600	2,200
Other Revenues	0	0
Operating Revenues	(709,800)	(645,000)
Eliminations | Total Retail Tariff Sales Revenues
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	(5,600)	(4,900)
Eliminations | Residential
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	0	0
Eliminations | Commercial
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	(1,100)	(1,400)
Eliminations | Industrial
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	(4,500)	(3,500)
Eliminations | Wholesale Transmission Revenues
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	(364,700)	(321,000)
Eliminations | Wholesale Market Sales Revenues
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	0	0
Eliminations | Other Revenues from Contracts with Customers
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	(353,100)	(321,300)
Eliminations | (Reserve for)/Amortization of Revenues Subject to Refund
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	0
Eliminations | CL&P
Disaggregation of Revenue [Line Items]
Operating Revenues	(145,700)	(124,500)
Eliminations | NSTAR Electric
Disaggregation of Revenue [Line Items]
Operating Revenues	(135,300)	(116,400)
Eliminations | PSNH
Disaggregation of Revenue [Line Items]
Operating Revenues	(53,300)	(43,300)
Electric Distribution | Operating Segments
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	2,378,700	1,876,200
Alternative Revenue Programs	4,800	23,000
Other Revenues	2,800	1,100
Operating Revenues	2,386,300	1,900,300
Electric Distribution | Operating Segments | Total Retail Tariff Sales Revenues
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	1,937,100	1,708,900
Electric Distribution | Operating Segments | Residential
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	1,186,200	1,066,000
Electric Distribution | Operating Segments | Commercial
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	661,300	559,900
Electric Distribution | Operating Segments | Industrial
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	89,600	83,000
Electric Distribution | Operating Segments | Wholesale Transmission Revenues
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	0	0
Electric Distribution | Operating Segments | Wholesale Market Sales Revenues
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	365,500	149,100
Electric Distribution | Operating Segments | Other Revenues from Contracts with Customers
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	17,700	18,200
Electric Distribution | Operating Segments | (Reserve for)/Amortization of Revenues Subject to Refund
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	58,400
Natural Gas Distribution | Operating Segments
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	917,000	757,500
Alternative Revenue Programs	10,200	22,800
Other Revenues	400	200
Operating Revenues	927,600	780,500
Natural Gas Distribution | Operating Segments | Total Retail Tariff Sales Revenues
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	882,500	729,800
Natural Gas Distribution | Operating Segments | Residential
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	556,800	466,300
Natural Gas Distribution | Operating Segments | Commercial
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	257,600	207,600
Natural Gas Distribution | Operating Segments | Industrial
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	68,100	55,900
Natural Gas Distribution | Operating Segments | Wholesale Transmission Revenues
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	0	0
Natural Gas Distribution | Operating Segments | Wholesale Market Sales Revenues
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	33,500	26,400
Natural Gas Distribution | Operating Segments | Other Revenues from Contracts with Customers
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	1,000	1,300
Natural Gas Distribution | Operating Segments | (Reserve for)/Amortization of Revenues Subject to Refund
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	0
Electric Transmission | Operating Segments
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	450,000	397,700
Alternative Revenue Programs	(15,000)	2,700
Other Revenues	200	200
Operating Revenues	435,200	400,600
Electric Transmission | Operating Segments | Total Retail Tariff Sales Revenues
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	0	0
Electric Transmission | Operating Segments | Residential
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	0	0
Electric Transmission | Operating Segments | Commercial
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	0	0
Electric Transmission | Operating Segments | Industrial
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	0	0
Electric Transmission | Operating Segments | Wholesale Transmission Revenues
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	446,200	394,300
Electric Transmission | Operating Segments | Wholesale Market Sales Revenues
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	0	0
Electric Transmission | Operating Segments | Other Revenues from Contracts with Customers
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	3,800	3,400
Electric Transmission | Operating Segments | (Reserve for)/Amortization of Revenues Subject to Refund
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	0
Water Distribution | Operating Segments
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	46,200	44,500
Alternative Revenue Programs	2,200	1,800
Other Revenues	100	100
Operating Revenues	48,500	46,400
Water Distribution | Operating Segments | Total Retail Tariff Sales Revenues
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	43,900	42,500
Water Distribution | Operating Segments | Residential
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	28,200	27,700
Water Distribution | Operating Segments | Commercial
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	14,600	13,800
Water Distribution | Operating Segments | Industrial
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	1,100	1,000
Water Distribution | Operating Segments | Wholesale Transmission Revenues
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	0	0
Water Distribution | Operating Segments | Wholesale Market Sales Revenues
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	800	800
Water Distribution | Operating Segments | Other Revenues from Contracts with Customers
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	1,900	$ 1,200
Water Distribution | Operating Segments | (Reserve for)/Amortization of Revenues Subject to Refund
Disaggregation of Revenue [Line Items]
Revenues from Contracts with Customers	$ (400)

XML

SEGMENT INFORMATION - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2022 USD ($) segment
CL&P
Segment Reporting Information [Line Items]
Number of reportable segments	1
NSTAR Electric
Segment Reporting Information [Line Items]
Number of reportable segments	1
PSNH
Segment Reporting Information [Line Items]
Number of reportable segments	1
Affiliated Entity
Segment Reporting Information [Line Items]
Amount of natural gas transmission purchased | $	$ 77.7

XML

SEGMENT INFORMATION - Summary of Segment Information and Segmented Total Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Segment Reporting Information [Line Items]
Operating Revenues	$ 3,471,310	$ 2,825,840
Depreciation and Amortization	(526,300)	(378,700)
Other Operating Expenses	(2,281,900)	(1,861,500)
Operating Income/(Loss)	663,055	585,568
Interest Expense	(153,245)	(137,766)
Other Income, Net	71,561	34,201
Net Income/(Loss) Attributable to Common Shareholders	443,446	366,143
Cash Flows Used for Investments in Plant	764,594	688,983
Assets	49,289,152		$ 48,492,144
Other
Segment Reporting Information [Line Items]
Operating Revenues	383,500	343,000
Depreciation and Amortization	(30,200)	(27,300)
Other Operating Expenses	(331,400)	(299,500)
Operating Income/(Loss)	21,900	16,200
Interest Expense	(46,800)	(41,600)
Other Income, Net	495,900	424,100
Net Income/(Loss) Attributable to Common Shareholders	468,700	394,900
Cash Flows Used for Investments in Plant	62,100	47,800
Assets	23,394,300		22,674,700
Eliminations
Segment Reporting Information [Line Items]
Operating Revenues	(709,800)	(645,000)
Depreciation and Amortization	1,600	1,000
Other Operating Expenses	708,800	644,800
Operating Income/(Loss)	600	800
Interest Expense	10,100	11,600
Other Income, Net	(493,100)	(421,000)
Net Income/(Loss) Attributable to Common Shareholders	(482,400)	(408,600)
Cash Flows Used for Investments in Plant	0	0
Assets	(22,647,900)		(21,738,600)
Electric Distribution | Operating Segments
Segment Reporting Information [Line Items]
Operating Revenues	2,386,300	1,900,300
Depreciation and Amortization	(351,600)	(221,900)
Other Operating Expenses	(1,845,600)	(1,530,500)
Operating Income/(Loss)	189,100	147,900
Interest Expense	(59,400)	(53,300)
Other Income, Net	47,600	20,700
Net Income/(Loss) Attributable to Common Shareholders	140,900	93,200
Cash Flows Used for Investments in Plant	280,500	256,600
Assets	25,883,200		25,411,200
Natural Gas Distribution | Operating Segments
Segment Reporting Information [Line Items]
Operating Revenues	927,600	780,500
Depreciation and Amortization	(51,900)	(45,700)
Other Operating Expenses	(657,300)	(535,800)
Operating Income/(Loss)	218,400	199,000
Interest Expense	(15,800)	(13,900)
Other Income, Net	10,100	3,900
Net Income/(Loss) Attributable to Common Shareholders	164,000	147,600
Cash Flows Used for Investments in Plant	127,300	131,800
Assets	7,329,700		7,215,900
Electric Transmission | Operating Segments
Segment Reporting Information [Line Items]
Operating Revenues	435,200	400,600
Depreciation and Amortization	(81,900)	(73,500)
Other Operating Expenses	(129,300)	(115,400)
Operating Income/(Loss)	224,000	211,700
Interest Expense	(33,200)	(32,700)
Other Income, Net	8,900	5,500
Net Income/(Loss) Attributable to Common Shareholders	148,500	135,400
Cash Flows Used for Investments in Plant	266,900	225,200
Assets	12,757,800		12,377,800
Water Distribution | Operating Segments
Segment Reporting Information [Line Items]
Operating Revenues	48,500	46,400
Depreciation and Amortization	(12,300)	(11,300)
Other Operating Expenses	(27,100)	(25,100)
Operating Income/(Loss)	9,100	10,000
Interest Expense	(8,200)	(7,900)
Other Income, Net	2,200	1,000
Net Income/(Loss) Attributable to Common Shareholders	3,700	3,600
Cash Flows Used for Investments in Plant	27,800	$ 27,600
Assets	$ 2,572,100		$ 2,551,100