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CONNECTICUT LIGHT & POWER CO

For the period ended Mar 31, 2026. Filed May 7, 2026.

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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2026 · Filed May 7, 2026

ES$69.84-2.9%Stored close · as of Nov 6, 2026
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UNITED STATES SECURITIES AND EXCHANGE COMMISSIONWASHINGTON, D.C. 20549
FORM10-Q
☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THESECURITIES EXCHANGE ACT OF 1934
For the Quarterly Period EndedMarch 31, 2026
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

Commission File Number:001-05324

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

(a Connecticut corporation)

107 Selden Street, Berlin, Connecticut 06037-1616

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

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

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 classTrading Symbol(s)Name of each exchange on which registered
Common Shares, $5.00 par value per shareESNew 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.

YesNo
☒☐

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).

YesNo
☒☐

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 EnergyLarge accelerated filer☒Acceleratedfiler☐Non-accelerated filer☐Smaller reporting company☐Emerging growth company☐
The Connecticut Light and Power CompanyLarge accelerated filer☐Acceleratedfiler☐Non-accelerated filer☒Smaller reporting company☐Emerging growth company☐
NSTAR Electric CompanyLarge accelerated filer☐Acceleratedfiler☐Non-accelerated filer☒Smaller reporting company☐Emerging growth company☐
Public Service Company of New HampshireLarge accelerated filer☐Acceleratedfiler☐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):

YesNo
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 StockOutstanding as of April 30, 2026
Eversource Energy Common Shares, $5.00 par value376,080,025shares
The Connecticut Light and Power Company Common Stock, $10.00 par value6,035,205shares
NSTAR Electric Company Common Stock, $1.00 par value200shares
Public Service Company of New Hampshire Common Stock, $1.00 par value301shares

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.

The Connecticut Light and Power Company, 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 CompanyEversource Energy and subsidiaries
Eversource parent or ES parentEversource Energy, a public utility holding company
ES parent and other companiesES parent and other companies are comprised of Eversource parent, Eversource Service, and other subsidiaries, which primarily includes our unregulated businesses, 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&PThe Connecticut Light and Power Company
NSTAR ElectricNSTAR Electric Company
PSNHPublic Service Company of New Hampshire
PSNH FundingPSNH Funding LLC 3, a bankruptcy remote, special purpose, wholly-owned subsidiary of PSNH
NSTAR GasNSTAR Gas Company
EGMAEversource Gas Company of Massachusetts
Yankee GasYankee Gas Services Company
AquarionAquarion Company and its subsidiaries
HEECHarbor Electric Energy Company, a wholly-owned subsidiary of NSTAR Electric
Eversource ServiceEversource Energy Service Company
CYAPCConnecticut Yankee Atomic Power Company
MYAPCMaine Yankee Atomic Power Company
YAECYankee Atomic Electric Company
Yankee CompaniesCYAPC, YAEC and MYAPC
Regulated companiesThe 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:
DEEPConnecticut Department of Energy and Environmental Protection
DOEU.S. Department of Energy
DOERMassachusetts Department of Energy Resources
DPUMassachusetts Department of Public Utilities
EPAU.S. Environmental Protection Agency
FERCFederal Energy Regulatory Commission
ISO-NEISO New England, Inc., the New England Independent System Operator
MA DEPMassachusetts Department of Environmental Protection
NHPUCNew Hampshire Public Utilities Commission
PURAConnecticut Public Utilities Regulatory Authority
SECU.S. Securities and Exchange Commission
Other Terms and Abbreviations:
ADITAccumulated Deferred Income Taxes
AFUDCAllowance For Funds Used During Construction
AOCIAccumulated Other Comprehensive Income
AROAsset Retirement Obligation
BcfBillion cubic feet
CfDContract for Differences
CWIPConstruction Work in Progress
EDCElectric distribution company
EDITExcess Deferred Income Taxes
EPSEarnings Per Share
ERISAEmployee Retirement Income Security Act of 1974
ESOPEmployee Stock Ownership Plan
Eversource 2025 Form 10-KThe Eversource Energy and Subsidiaries 2025 combined Annual Report on Form 10-K as filed with the SEC
FitchFitch Ratings, Inc.
FMCCFederally Mandated Congestion Charge
GAAPAccounting principles generally accepted in the United States of America
GSEPGas System Enhancement Program

i

GWhGigawatt-Hours
IPPIndependent Power Producers
ISO-NE TariffISO-NE FERC Transmission, Markets and Services Tariff
kVKilovolt
kVaKilovolt-ampere
kWKilowatt (equal to one thousand watts)
kWhKilowatt-Hours
LNGLiquefied natural gas
LPGLiquefied petroleum gas
LRSSupplier of last resort service
MGMillion gallons
MGPManufactured Gas Plant
MMBtuMillion British thermal units
MMcfMillion cubic feet
Moody'sMoody's Investors Service, Inc.
MWMegawatt
MWhMegawatt-Hours
NETOsNew England Transmission Owners (including Eversource, National Grid and Avangrid)
OCIOther Comprehensive Income/(Loss)
PAMPension and PBOP Rate Adjustment Mechanism
PBOPPostretirement Benefits Other Than Pension
PBOP PlanPostretirement Benefits Other Than Pension Plan
Pension PlanSingle uniform noncontributory defined benefit retirement plan
PPAPower purchase agreement
RECsRenewable Energy Certificates
Regulatory ROEThe average cost of capital method for calculating the return on equity related to the distribution business segment excluding the wholesale transmission segment
ROEReturn on Equity
RRBsRate Reduction Bonds or Rate Reduction Certificates
RSUsRestricted share units
S&PStandard & Poor's Financial Services LLC
SERPSupplemental Executive Retirement Plans and non-qualified defined benefit retirement plans
SSStandard service
UIThe United Illuminating Company
VIEVariable Interest Entity

ii

TABLE OF CONTENTS

Page
PART I – FINANCIAL INFORMATION
ITEM 1. · Financial Statements (Unaudited)
Eversource Energy and Subsidiaries (Unaudited)
Condensed Consolidated Balance Sheets1
Condensed Consolidated Statements of Income2
Condensed Consolidated Statements of Comprehensive Income2
Condensed Consolidated Statements of Common Shareholders' Equity3
Condensed Consolidated Statements of Cash Flows4
The Connecticut Light and Power Company (Unaudited)
Condensed Balance Sheets5
Condensed Statements of Income6
Condensed Statements of Comprehensive Income6
Condensed Statements of Common Stockholder's Equity7
Condensed Statements of Cash Flows8
NSTAR Electric Company and Subsidiary (Unaudited)
Condensed Consolidated Balance Sheets9
Condensed Consolidated Statements of Income10
Condensed Consolidated Statements of Comprehensive Income10
Condensed Consolidated Statements of Common Stockholder's Equity11
Condensed Consolidated Statements of Cash Flows12
Public Service Company of New Hampshire and Subsidiaries (Unaudited)
Condensed Consolidated Balance Sheets13
Condensed Consolidated Statements of Income14
Condensed Consolidated Statements of Common Stockholder's Equity15
Condensed Consolidated Statements of Cash Flows16
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 Subsidiaries36
The Connecticut Light and Power Company, NSTAR Electric Company and Subsidiary, and Public Service Company of New Hampshire and Subsidiaries51
ITEM 3.Quantitative and Qualitative Disclosures About Market Risk56
ITEM 4.Controls and Procedures57
PART II – OTHER INFORMATION
ITEM 1.Legal Proceedings57
ITEM 1A.Risk Factors57
ITEM 2.Unregistered Sales of Equity Securities and Use of Proceeds57
ITEM 3.Defaults Upon Senior Securities57
ITEM 4.Mine Safety Disclosures58
ITEM 5.Other Information58
ITEM 6.Exhibits59
SIGNATURES60

iii

(Thousands of Dollars)As of March 31, 2026As of December 31, 2025
ASSETS
Current Assets:
Cash$270,184$135,351
Receivables, Net (net of allowance for uncollectible accounts of $611,700 and $580,539 as of March 31, 2026 and December 31, 2025, respectively)2,080,8051,847,094
Unbilled Revenues217,605275,108
Materials, Supplies, Natural Gas and REC Inventory489,415491,592
Regulatory Assets1,897,1911,975,083
Prepayments and Other Current Assets389,535352,958
Total Current Assets5,344,7355,077,186
Property, Plant and Equipment, Net46,470,24445,930,959
Deferred Debits and Other Assets:
Regulatory Assets5,768,1595,718,646
Goodwill4,233,7674,233,767
Prepaid Pension and PBOP1,566,4181,511,169
Marketable Securities322,189317,101
Other Long-Term Assets1,002,089997,883
Total Deferred Debits and Other Assets12,892,62212,778,566
Total Assets$64,707,601$63,786,711
LIABILITIES AND CAPITALIZATION
Current Liabilities:
Notes Payable$533,000$1,525,445
Long-Term Debt – Current Portion2,643,0971,392,948
Rate Reduction Bonds – Current Portion43,21043,210
Accounts Payable1,662,0461,859,692
Regulatory Liabilities1,739,9871,264,609
Offshore Wind Contingent Liability298,157448,158
Other Current Liabilities1,290,2261,274,450
Total Current Liabilities8,209,7237,808,512
Deferred Credits and Other Liabilities:
Accumulated Deferred Income Taxes5,894,5835,647,218
Regulatory Liabilities4,323,6194,273,465
Derivative Liabilities636,179753,149
Asset Retirement Obligations597,713595,442
Accrued SERP and PBOP100,531100,859
Other Long-Term Liabilities1,138,3471,101,932
Total Deferred Credits and Other Liabilities12,690,97212,472,065
Long-Term Debt26,861,13126,872,433
Rate Reduction Bonds259,257280,862
Noncontrolling Interest – Preferred Stock of Subsidiaries155,568155,568
Common Shareholders' Equity:
Common Shares1,914,2731,914,273
Capital Surplus, Paid In9,950,1139,937,878
Retained Earnings4,815,8464,504,983
Accumulated Other Comprehensive Loss(20,377)(20,507)
Treasury Stock(128,905)(139,356)
Common Shareholders' Equity16,530,95016,197,271
Commitments and Contingencies (Note 9)
Total Liabilities and Capitalization$64,707,601$63,786,711
For the Three Months Ended March 31,
(Thousands of Dollars, Except Share Information)20262025
Operating Revenues$4,504,363$4,118,355
Operating Expenses:
Purchased Power, Purchased Natural Gas and Transmission1,518,1741,340,337
Operations and Maintenance506,980487,451
Depreciation420,481379,579
Amortization402,764455,449
Energy Efficiency Programs291,499257,550
Taxes Other Than Income Taxes288,317271,595
Total Operating Expenses3,428,2153,191,961
Operating Income1,076,148926,394
Interest Expense365,259300,849
Other Income, Net101,15992,344
Income Before Income Tax Expense812,048717,889
Income Tax Expense203,327165,221
Net Income608,721552,668
Net Income Attributable to Noncontrolling Interests1,8801,880
Net Income Attributable to Common Shareholders$606,841$550,788
Basic and Diluted Earnings Per Common Share$1.61$1.50
Weighted Average Common Shares Outstanding:
Basic376,026,090367,320,246
Diluted376,583,614367,677,618

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

For the Three Months Ended March 31,
(Thousands of Dollars)20262025
Net Income$608,721$552,668
Other Comprehensive Income, Net of Tax:
Qualified Cash Flow Hedging Instruments55
Changes in Funded Status of Pension, SERP and PBOP Benefit Plans1252,518
Other Comprehensive Income, Net of Tax1302,523
Comprehensive Income Attributable to Noncontrolling Interests(1,880)(1,880)
Comprehensive Income Attributable to Common Shareholders$606,971$553,311

CONDENSED CONSOLIDATED STATEMENTS OF COMMON SHAREHOLDERS' EQUITY

For the Three Months Ended March 31, 2026
Common Shares · CapitalSurplus,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, 2026375,416,880$1,914,273$9,937,878$4,504,983$(20,507)$(139,356)$16,197,271
Net Income608,721608,721
Dividends on Common Shares - $0.7875 Per Share(295,978)(295,978)
Dividends on Preferred Stock(1,880)(1,880)
Long-Term Incentive Plan Activity(24,577)(24,577)
Issuance of Treasury Shares557,76436,81210,45147,263
Other Comprehensive Income130130
Balance as of March 31, 2026375,974,644$1,914,273$9,950,113$4,815,846$(20,377)$(128,905)$16,530,950
For the Three Months Ended March 31, 2025
Common Shares · CapitalSurplus,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, 2025366,608,052$1,878,622$9,428,905$3,929,141$(26,472)$(170,809)$15,039,387
Net Income552,668552,668
Dividends on Common Shares - $0.7525 Per Share(276,229)(276,229)
Dividends on Preferred Stock(1,880)(1,880)
Long-Term Incentive Plan Activity(28,230)(28,230)
Issuance of Treasury Shares699,03139,92113,09753,018
Other Comprehensive Income2,5232,523
Balance as of March 31, 2025367,307,083$1,878,622$9,440,596$4,203,700$(23,949)$(157,712)$15,341,257
For the Three Months Ended March 31,
(Thousands of Dollars)20262025
Operating Activities:
Net Income$608,721$552,668
Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities:
Depreciation420,481379,579
Deferred Income Taxes81,402(56,524)
Uncollectible Expense30,79522,863
Pension, SERP and PBOP Income, Net(28,287)(18,811)
Regulatory Over Recoveries, Net126,33984,461
Amortization402,764455,449
Cost of Removal Expenditures(41,385)(67,151)
Other28,25515,840
Changes in Current Assets and Liabilities:
Receivables and Unbilled Revenues, Net(264,738)(288,984)
Taxes Receivable/Accrued, Net247,015288,790
Accounts Payable(145,387)(131,367)
Other Current Assets and Liabilities, Net(141,649)(196,218)
Net Cash Flows Provided by Operating Activities1,324,3261,040,595
Investing Activities:
Investments in Property, Plant and Equipment(1,009,311)(1,007,384)
Proceeds from Sales of Marketable Securities40,95464,007
Purchases of Marketable Securities(37,075)(61,049)
Payments for Offshore Wind Contingent Liability(150,001)—
Investments in Unconsolidated Affiliates—(504)
Other Investing Activities5,4905,700
Net Cash Flows Used in Investing Activities(1,149,943)(999,230)
Financing Activities:
Cash Dividends on Common Shares(290,023)(270,232)
Cash Dividends on Preferred Stock(1,880)(1,880)
Decrease in Notes Payable(992,445)(552,694)
Repayment of Rate Reduction Bonds(21,605)(21,605)
Issuance of Long-Term Debt1,502,5741,201,407
Retirement of Long-Term Debt(250,116)(300,051)
Other Financing Activities(29,342)(23,000)
Net Cash Flows (Used In)/Provided by Financing Activities(82,837)31,945
Net Increase in Cash and Restricted Cash91,54673,310
Cash and Restricted Cash - Beginning of Period246,245127,308
Cash and Restricted Cash - End of Period$337,791$200,618
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.