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, 2023
	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, 2023
Eversource Energy Common Shares, $5.00 par value	348,841,840	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 2022 Form 10-K	The Eversource Energy and Subsidiaries 2022 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
LPG	Liquefied petroleum gas
LRS	Supplier of last resort service
MG	Million gallons
MGP	Manufactured Gas Plant
MMBtu	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	35
	The Connecticut Light and Power Company, NSTAR Electric Company and Subsidiary, and Public Service Company of New Hampshire and Subsidiaries	49
ITEM 3.	Quantitative and Qualitative Disclosures About Market Risk	54
ITEM 4.	Controls and Procedures	54
PART II – OTHER INFORMATION
ITEM 1.	Legal Proceedings	55
ITEM 1A.	Risk Factors	55
ITEM 2.	Unregistered Sales of Equity Securities and Use of Proceeds	55
ITEM 6.	Exhibits	56
SIGNATURES		57

iii

EVERSOURCE ENERGY AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)

(Thousands of Dollars)	As of March 31, 2023		As of December 31, 2022
ASSETS
Current Assets:
Cash	$	35,975	$	47,597
Cash Equivalents	—		327,006
Receivables, Net (net of allowance for uncollectible accounts of $535,114    and $486,297 as of March 31, 2023 and December 31, 2022, respectively)	1,660,076		1,517,138
Unbilled Revenues	216,715		238,968
Materials, Supplies, Natural Gas and REC Inventory	423,343		374,395
Regulatory Assets	1,332,028		1,335,491
Prepayments and Other Current Assets	468,292		382,603
Total Current Assets	4,136,429		4,223,198
Property, Plant and Equipment, Net	36,744,855		36,112,820
Deferred Debits and Other Assets:
Regulatory Assets	4,407,875		4,242,794
Goodwill	4,522,632		4,522,632
Investments in Unconsolidated Affiliates	2,302,880		2,176,080
Prepaid Pension and PBOP	1,097,814		1,045,524
Marketable Securities	332,050		366,508
Other Long-Term Assets	560,632		541,344
Total Deferred Debits and Other Assets	13,223,883		12,894,882
Total Assets	$	54,105,167	$	53,230,900
LIABILITIES AND CAPITALIZATION
Current Liabilities:
Notes Payable	$	1,195,500	$	1,442,200
Long-Term Debt – Current Portion	1,615,461		1,320,129
Rate Reduction Bonds – Current Portion	43,210		43,210
Accounts Payable	1,821,911		2,113,905
Regulatory Liabilities	650,538		890,786
Other Current Liabilities	1,078,421		989,053
Total Current Liabilities	6,405,041		6,799,283
Deferred Credits and Other Liabilities:
Accumulated Deferred Income Taxes	5,239,443		5,067,902
Regulatory Liabilities	3,974,374		3,930,305
Derivative Liabilities	124,281		143,929
Asset Retirement Obligations	500,695		502,713
Accrued Pension, SERP and PBOP	120,200		135,473
Other Long-Term Liabilities	884,717		888,081
Total Deferred Credits and Other Liabilities	10,843,710		10,668,403
Long-Term Debt	20,562,588		19,723,994
Rate Reduction Bonds	388,887		410,492
Noncontrolling Interest – Preferred Stock of Subsidiaries	155,570		155,570
Common Shareholders' Equity:
Common Shares	1,799,920		1,799,920
Capital Surplus, Paid In	8,412,085		8,401,731
Retained Earnings	5,782,958		5,527,153
Accumulated Other Comprehensive Loss	(36,191)		(39,421)
Treasury Stock	(209,401)		(216,225)
Common Shareholders' Equity	15,749,371		15,473,158
Commitments and Contingencies (Note 9)
Total Liabilities and Capitalization	$	54,105,167	$	53,230,900

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)	2023		2022
Operating Revenues	$	3,795,643	$	3,471,310
Operating Expenses:
Purchased Power, Purchased Natural Gas and Transmission	1,903,246		1,389,696
Operations and Maintenance	454,562		472,433
Depreciation	312,955		289,330
Amortization	(76,059)		236,948
Energy Efficiency Programs	222,952		199,484
Taxes Other Than Income Taxes	228,414		220,364
Total Operating Expenses	3,046,070		2,808,255
Operating Income	749,573		663,055
Interest Expense	194,543		153,245
Other Income, Net	88,981		71,561
Income Before Income Tax Expense	644,011		581,371
Income Tax Expense	150,972		136,045
Net Income	493,039		445,326
Net Income Attributable to Noncontrolling Interests	1,880		1,880
Net Income Attributable to Common Shareholders	$	491,159	$	443,446
Basic and Diluted Earnings Per Common Share	$	1.41	$	1.28
Weighted Average Common Shares Outstanding:
Basic	349,217,147		345,156,346
Diluted	349,612,013		345,661,133

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)	2023		2022
Net Income	$	493,039	$	445,326
Other Comprehensive Income, Net of Tax:
Qualified Cash Flow Hedging Instruments	5		5
Changes in Unrealized Gains/(Losses) on Marketable Securities	1,254		(817)
Changes in Funded Status of Pension, SERP and PBOP Benefit Plans	1,971		1,516
Other Comprehensive Income, Net of Tax	3,230		704
Comprehensive Income Attributable to Noncontrolling Interests	(1,880)		(1,880)
Comprehensive Income Attributable to Common Shareholders	$	494,389	$	444,150

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, 2023
	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, 2023	348,443,855	$	1,799,920	$	8,401,731	$	5,527,153	$	(39,421)	$	(216,225)	$	15,473,158
Net Income						493,039						493,039
Dividends on Common Shares - $0.675 Per Share						(235,354)						(235,354)
Dividends on Preferred Stock						(1,880)						(1,880)
Long-Term Incentive Plan Activity				(13,141)								(13,141)
Issuance of Treasury Shares	364,227			23,495						6,824		30,319
Other Comprehensive Income								3,230				3,230
Balance as of March 31, 2023	348,808,082	$	1,799,920	$	8,412,085	$	5,782,958	$	(36,191)	$	(209,401)	$	15,749,371

	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

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)	2023		2022
Operating Activities:
Net Income	$	493,039	$	445,326
Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities:
Depreciation	312,955		289,330
Deferred Income Taxes	149,197		67,557
Uncollectible Expense	22,821		17,135
Pension, SERP and PBOP Income, Net	(24,563)		(40,642)
Pension Contributions	(1,100)		(26,100)
Regulatory Under Recoveries, Net	(158,964)		(107,767)
Customer Credits at CL&P related to PURA Settlement Agreement and Storm     Performance Penalty	—		(58,412)
Amortization	(76,059)		236,948
Cost of Removal Expenditures	(70,514)		(61,660)
Other	(54,486)		(21,409)
Changes in Current Assets and Liabilities:
Receivables and Unbilled Revenues, Net	(225,609)		(291,723)
Taxes Receivable/Accrued, Net	284		56,519
Accounts Payable	(258,476)		(68,909)
Other Current Assets and Liabilities, Net	(39,368)		(64,253)
Net Cash Flows Provided by Operating Activities	69,157		371,940
Investing Activities:
Investments in Property, Plant and Equipment	(977,144)		(764,594)
Proceeds from Sales of Marketable Securities	64,307		90,409
Purchases of Marketable Securities	(56,508)		(76,182)
Investments in Unconsolidated Affiliates	(87,845)		(113,856)
Other Investing Activities	5,640		5,976
Net Cash Flows Used in Investing Activities	(1,051,550)		(858,247)
Financing Activities:
Cash Dividends on Common Shares	(229,405)		(213,890)
Cash Dividends on Preferred Stock	(1,880)		(1,880)
(Decrease)/Increase in Notes Payable	(246,700)		163,350
Repayment of Rate Reduction Bonds	(21,605)		(21,605)
Issuance of Long-Term Debt	1,550,000		1,300,000
Retirement of Long-Term Debt	(400,000)		(770,000)
Other Financing Activities	(27,002)		(26,087)
Net Cash Flows Provided by Financing Activities	623,408		429,888
Net Decrease in Cash, Cash Equivalents and Restricted Cash	(358,985)		(56,419)
Cash, Cash Equivalents and Restricted Cash - Beginning of Period	521,752		221,008
Cash and Restricted Cash - End of Period	$	162,767	$	164,589

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, 2023		As of December 31, 2022
ASSETS
Current Assets:
Cash	$	9,340	$	11,312
Receivables, Net (net of allowance for uncollectible accounts of $253,376 and    $225,320 as of March 31, 2023 and December 31, 2022, respectively)	633,048		612,052
Accounts Receivable from Affiliated Companies	69,095		46,439
Unbilled Revenues	54,048		59,363
Materials and Supplies	103,987		88,157
Taxes Receivable	26,723		65,785
Regulatory Assets	356,468		314,089
Prepayments and Other Current Assets	93,078		62,524
Total Current Assets	1,345,787		1,259,721
Property, Plant and Equipment, Net	11,630,278		11,467,024
Deferred Debits and Other Assets:
Regulatory Assets	1,639,960		1,593,693
Prepaid Pension	155,856		147,914
Other Long-Term Assets	302,817		290,444
Total Deferred Debits and Other Assets	2,098,633		2,032,051
Total Assets	$	15,074,698	$	14,758,796
LIABILITIES AND CAPITALIZATION
Current Liabilities:
Notes Payable to Eversource Parent	$	318,000	$	—
Accounts Payable	622,024		710,500
Accounts Payable to Affiliated Companies	141,792		136,277
Regulatory Liabilities	124,640		336,048
Derivative Liabilities	85,105		81,588
Other Current Liabilities	205,692		163,875
Total Current Liabilities	1,497,253		1,428,288
Deferred Credits and Other Liabilities:
Accumulated Deferred Income Taxes	1,740,504		1,640,034
Regulatory Liabilities	1,277,281		1,263,396
Derivative Liabilities	124,281		143,929
Other Long-Term Liabilities	160,104		166,081
Total Deferred Credits and Other Liabilities	3,302,170		3,213,440
Long-Term Debt	4,310,233		4,216,488
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	3,260,765		3,260,765
Retained Earnings	2,527,520		2,463,094
Accumulated Other Comprehensive Income	205		169
Common Stockholder's Equity	5,848,842		5,784,380
Commitments and Contingencies (Note 9)
Total Liabilities and Capitalization	$	15,074,698	$	14,758,796

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)	2023		2022
Operating Revenues	$	1,338,905	$	1,285,831