UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 8-K
 
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 2, 2022 (November 2, 2022)
 
Commission
File Number	Registrant; State of Incorporation
Address; and Telephone Number	I.R.S. Employer
Identification No.	
 	 	 	
1-5324	EVERSOURCE ENERGY
(a Massachusetts voluntary association)
300 Cadwell Drive
Springfield, Massachusetts 01104
Telephone: (800) 286-5000  	04-2147929	
 	 	 	
0-00404	THE CONNECTICUT LIGHT AND POWER COMPANY
(a Connecticut corporation)
107 Selden Street
Berlin, Connecticut 06037-1616
Telephone: (800) 286-5000  	06-0303850	
 	 	 	
1-02301	NSTAR ELECTRIC COMPANY
(a Massachusetts corporation)
800 Boylston Street
Boston, Massachusetts 02199
Telephone: (800) 286-5000	04-1278810	
 	 	 	
1-6392	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  	02-0181050	
 
Not Applicable
(Former name or former address, if changed since last report)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 
	¨	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)	
 
	¨	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)	
 
	¨	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))	
 
	¨	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))	
 
Securities registered pursuant to Section 12(b) of the Act:	
Registrant	Title of each class	Trading
Symbol(s)	Name of each exchange on
which registered	
Eversource Energy	Common Shares, $5.00 par value per share
	ES	New York Stock Exchange	
The Connecticut Light and Power Company	None	N/A	N/A	
NSTAR Electric Company	None	N/A	N/A	
Public Service Company of New Hampshire	None	N/A	N/A	
 
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
 
 	Emerging growth
company	
Eversource Energy	¨	
The Connecticut Light and Power Company	¨	
NSTAR Electric Company	¨	
Public Service Company of New Hampshire	¨	
 
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.
 
Eversource Energy	¨	
The Connecticut Light and Power Company	¨	
NSTAR Electric Company	¨	
Public Service Company of New Hampshire	¨	

 

 

Section 2	Financial Information	
 
Item 2.02	Results of Operations and Financial Conditions.	
 
On November 2, 2022, Eversource Energy issued a news release announcing its unaudited results of operations for the third quarter and nine months ended September 30, 2022 and related financial information for certain of its subsidiaries as of and for the same period. A copy of the news release and related unaudited financial reports are attached as Exhibits 99.1 and 99.2 and are incorporated herein by reference thereto.
 
The information contained in this Item 2.02, including Exhibits 99.1 and 99.2, shall not be deemed “filed” with the Securities and Exchange Commission (“SEC”) nor incorporated by reference in any registration statement filed by Eversource Energy or any subsidiary thereof under the Securities Act of 1933, as amended (the “Securities Act”), unless specified otherwise.

Section 7	Regulation FD	

	Item 7.01	Regulation FD Disclosure.	
 
On November 3, 2022, Eversource Energy will webcast a conference call with financial analysts during which senior management will discuss the company’s financial performance through the third quarter of 2022. The webcast will be accessible from the Investors section of the Eversource Energy website at www.eversource.com. Attached as Exhibit 99.3 and incorporated herein by reference are the slides to be discussed by Eversource Energy during the conference call.
 
The information contained in this Item 7.01, including Exhibit 99.3, shall not be deemed “filed” with the SEC nor incorporated by reference into any registration statement filed by Eversource Energy or any subsidiary thereof under the Securities Act, unless specified otherwise.
 
Section 9	Financial Statements and Exhibits	

	Item 9.01	Financial Statements and Exhibits.	
 
Exhibit
Number	 	Description	
99.1	 	News Release of Eversource Energy dated November 2, 2022.	
99.2	 	Financial Report for the three and nine months ended September 30, 2022.	
99.3	 	November 3, 2022 presentation slides.	
104	 	Cover Page Interactive Data File (embedded within the Inline XBRL document).	
 
[The remainder of this page left blank intentionally.]

 

SIGNATURE
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned hereunto duly authorized.
 
 	EVERSOURCE ENERGY
THE CONNECTICUT LIGHT AND POWER COMPANY
NSTAR ELECTRIC COMPANY
PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE
(Registrants)	

November 2, 2022	By:	/s/ John M. Moreira	
 	 	John M. Moreira	
 	 	Executive Vice President, Chief Financial Officer and Treasurer	

 

 
Exhibit 99.1

 
Eversource Energy Reports Third Quarter Results
 
(HARTFORD, Conn. and BOSTON, Mass. – November 2, 2022) Eversource Energy (NYSE: ES) today reported earnings in the third quarter of 2022 of $349.4 million, or $1.00 per share, compared with earnings of $283.2 million, or $0.82 per share, in the third quarter of 2021. Eversource Energy earnings totaled $1,084.7 million, or $3.13 per share, in the first nine months of 2022, compared with earnings of $913.8 million, or $2.65 per share, in the first nine months of 2021.
 
Results for the third quarter of 2022 included $2.2 million of after-tax transition and transaction-related charges, primarily related to the October 2020 acquisition of the assets of the former Columbia Gas of Massachusetts. Those costs totaled $13 million in the first nine months of 2022. After-tax transition charges totaled $4.3 million in the third quarter of 2021 and $17.3 million in the first nine months of 2021. Additionally, third quarter 2021 results included after-tax charges related to the settlement of multiple regulatory dockets concerning Eversource Energy’s subsidiary, The Connecticut Light and Power Company (CL&P). Those after-tax charges totaled $63.2 million in the third quarter of 2021 and $85.8 million through the first nine months of 2021. Excluding the charges noted above, Eversource Energy earned $351.6 million1, or $1.01 per share1, in the third quarter of 2022 and $1,097.7 million1, or $3.17 per share1, in the first nine months of 2022. Excluding the charges noted above, Eversource earned $350.7 million1, or $1.02 per share1, in the third quarter of 2021 and $1,016.9 million1, or $2.95 per share1, in the first nine months of 2021.
 
Eversource Energy today reaffirmed its 2022 earnings per share (EPS) projection of $4.04 to $4.14 per share, which excludes the 2022 charges noted above. Eversource Energy also today reaffirmed its long-term EPS growth rate from its existing regulated businesses in the upper half of 5-7 percent, using the $3.86 per share1 earned in 2021 as a base.
 
“Operationally, we’ve had an excellent first nine months of 2022. Our financial performance has been consistent with our projection for the year, despite increased pressures from rising interest rates, and our reliability indices remain among the top in the industry,” said Joe Nolan, Eversource Energy president and chief executive officer. “In addition, our safety ratings are strong, and our diversity and sustainability metrics are favorable.”
 
Electric Transmission
 
Eversource Energy’s transmission segment earned $155.8 million in the third quarter of 2022 and $455.8 million in the first nine months of 2022, compared with earnings of $139.4 million in the third quarter of 2021 and $412.4 million in the first nine months of 2021. Transmission segment results improved due to a higher level of investment in Eversource’s electric transmission system.

 

Electric Distribution
 
Eversource Energy’s electric distribution segment earned $225.1 million in the third quarter of 2022 and $495 million in the first nine months of 2022, compared with earnings of $213.6 million1 in the third quarter of 2021 and $451.2 million1 in the first nine months of 2021, excluding the 2021 CL&P charges noted above. Improved third-quarter results were due primarily to higher revenues and lower pension expense, partially offset by higher non-tracked operation and maintenance (O&M) expense, property taxes and depreciation expense.
 
Natural Gas Distribution
 
Eversource Energy’s natural gas distribution segment lost $24.6 million in the third quarter of 2022 and earned $147.2 million in the first nine months of 2022, compared with a loss of $22 million in the third quarter of 2021 and earnings of $129.6 million in the first nine months of 2021. Lower third-quarter results were primarily due to higher non-tracked O&M, property taxes, depreciation and interest expense, partially offset by higher revenues and lower pension expense.
 
Water Distribution
 
Eversource’s water distribution segment earned $16.7 million in the third quarter of 2022 and $29.4 million in the first nine months of 2022, compared with earnings of $17.5 million in the third quarter of 2021 and $30 million in the first nine months of 2021. Lower results were primarily due to higher O&M driven by the increased cost of water treatment chemicals.
 
Eversource Parent and Other Companies
 
Eversource parent and other companies, excluding transaction and transition-related costs, lost $21.4 million1 in the third quarter of 2022 and $29.7 million1 in the first nine months of 2022, compared with earnings of $2.2 million1 in the third quarter of 2021 and a loss of $6.3 million1 in the first nine months of 2021. Lower results primarily reflect higher interest expense and a higher effective income tax rate.
 
The following table reconciles 2022 and 2021 third quarter and first nine months earnings per share:
 
 	 	 	 	Third Quarter	 	First Nine Months	 	
2021	 	Reported GAAP EPS	 	$	0.82	 	$	2.65	 	
 	 	Higher electric transmission earnings in 2022, net of dilution	 	 	0.04	 	 	0.12	 	
 	 	Higher natural gas revenues and lower pension expense in 2022, offset by higher O&M, property taxes, depreciation and interest, net of dilution	 	 	(0.01	)	 	0.05	 	
 	 	Higher electric distribution revenues and lower pension expense in 2022, partially offset by higher O&M, depreciation, and property taxes, net of dilution	 	 	0.03	 	 	0.12	 	
 	 	Parent & Other, including a higher effective income tax rate	 	 	(0.07	)	 	(0.07	)	
 	 	Absence in 2022 of CL&P regulatory settlement charges	 	 	0.19	 	 	0.25	 	
 	 	Charges related to transactions in 2022, compared with 2021	 	 	0.00	 	 	0.01	 	
2022	 	Reported GAAP EPS	 	$	1.00	 	$	3.13	 	

 

Financial results by segment for the third quarter and first nine months of 2022 and 2021 are noted below:
 
Three months ended:

(in millions, except EPS)	 	September 30,
2022	 	 	September 30,
2021	 	 	Increase/
(Decrease)	 	 	2022 EPS1	 	
Electric Transmission	 	$	155.8	 	 	$	139.4	 	 	$	16.4	 	 	$	0.44	 	
Electric Distribution, ex. 2021 settlement1	 	 	225.1	 	 	 	213.6	 	 	 	11.5	 	 	 	0.65	 	
Natural Gas Distribution	 	 	(24.6	)	 	 	(22.0	)	 	 	(2.6	)	 	 	(0.07	)	
Water Distribution	 	 	16.7	 	 	 	17.5	 	 	 	(0.8	)	 	 	0.05	 	
Eversource Parent and Other Companies1	 	 	(21.4	)	 	 	2.2	 	 	 	(23.6	)	 	 	(0.06	)	
Charges related to 2021 regulatory settlement	 	 	0.0	 	 	 	(63.2	)	 	 	63.2	 	 	 	0.00	 	
Transition/transaction-related charges	 	 	(2.2	)	 	 	(4.3	)	 	 	2.1	 	 	 	(0.01	)	
Reported Earnings	 	$	349.4	 	 	$	283.2	 	 	$	66.2	 	 	$	1.00	 	
 
Nine months ended:

(in millions, except EPS)	 	September 30,
2022	 	 	September 30,
2021	 	 	Increase/
(Decrease)	 	 	2022 EPS1	 	
Electric Transmission	 	$	455.8	 	 	$	412.4	 	 	$	43.4	 	 	$	1.32	 	
Electric Distribution, ex. 2021 settlement1	 	 	495.0	 	 	 	451.2	 	 	 	43.8	 	 	 	1.43	 	
Natural Gas Distribution	 	 	147.2	 	 	 	129.6	 	 	 	17.6	 	 	 	0.42	 	
Water Distribution	 	 	29.4	 	 	 	30.0	 	 	 	(0.6	)	 	 	0.09	 	
Eversource Parent and Other Companies1	 	 	(29.7	)	 	 	(6.3	)	 	 	(23.4	)	 	 	(0.09	)	
Charges related to 2021 regulatory settlement	 	 	0.0	 	 	 	(85.8	)	 	 	85.8	 	 	 	0.00	 	
Transition/transaction-related charges	 	 	(13.0	)	 	 	(17.3	)	 	 	4.3	 	 	 	(0.04	)	
Reported Earnings	 	$	1,084.7	 	 	$	913.8	 	 	$	170.9	 	 	$	3.13	 	
 
Eversource Energy has approximately 348 million common shares outstanding and operates New England’s largest energy delivery system. It serves approximately 4.4 million electric, natural gas and water customers in Connecticut, Massachusetts and New Hampshire.
 
CONTACT:
Jeffrey R. Kotkin
(860) 665-5154
 
Note:  Eversource Energy will webcast a conference call with senior management on November 3, 2022, beginning at 9 a.m. Eastern Time.  The webcast and associated slides can be accessed through Eversource Energy’s website at www.eversource.com.	

 

1 All per-share amounts in this news release are reported on a diluted basis. The only common equity securities that are publicly traded are common shares of Eversource Energy. The earnings and EPS of each business do not represent a direct legal interest in the assets and liabilities of such business, but rather represent a direct interest in Eversource Energy's assets and liabilities as a whole. EPS by business is a financial measure that is not recognized under generally accepted accounting principles (non-GAAP) and is calculated by dividing the net income or loss attributable to common shareholders of each business by the weighted average diluted Eversource Energy common shares outstanding for the period. Earnings discussions also include non-GAAP financial measures referencing 2022 and 2021 earnings and EPS excluding certain transaction and transition costs, and 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. Eversource Energy uses these non-GAAP financial measures to evaluate and provide details of earnings results by business and to more fully compare and explain 2022 and 2021 results without including these items. This information is among the primary indicators management uses as a basis for evaluating performance and planning and forecasting of future periods. Management believes the impacts of transaction and transition costs, the CL&P October 2021 settlement agreement in Connecticut and the 2021 storm performance penalty imposed on CL&P by the PURA, are not indicative of Eversource Energy’s ongoing costs and performance.  Management views 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, management believes that the non-GAAP presentation is a more meaningful representation of Eversource Energy’s financial performance and provides additional and useful information to readers in analyzing historical and future performance of the business. These non-GAAP financial measures should not be considered as alternatives to Eversource Energy’s consolidated net income attributable to common shareholders or EPS determined in accordance with GAAP as indicators of Eversource Energy’s operating performance.
 
This document includes statements concerning Eversource Energy’s 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.  Generally, readers can identify these 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 the forward-looking statements.  Factors that may cause actual results to differ materially from those included in the forward-looking statements include, but are 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 Eversource Energy’s reports filed with the Securities and Exchange Commission (SEC). They are updated as necessary and available on Eversource Energy’s website at www.eversource.com and on the SEC’s website at www.sec.gov. All such factors are difficult to predict and contain uncertainties that may materially affect Eversource Energy’s 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, Eversource Energy undertakes 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.
 
###

 

 
Exhibit 99.2 

EVERSOURCE ENERGY AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)
 
 	 	For the Three Months Ended September 30,	 	 	For the Nine Months Ended September 30,	 	
(Thousands of Dollars, Except Share Information)	 	2022	 	 	2021	 	 	2022	 	 	2021	 	
Operating Revenues	 	$	3,215,645	 	 	$	2,432,794	 	 	$	9,259,596	 	 	$	7,381,172	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Operating Expenses:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Purchased Power, Fuel and Transmission	 	 	1,388,041	 	 	 	880,639	 	 	 	3,718,278	 	 	 	2,529,217	 	
Operations and Maintenance	 	 	454,289	 	 	 	389,065	 	 	 	1,378,897	 	 	 	1,265,754	 	
Depreciation	 	 	302,143	 	 	 	276,846	 	 	 	885,711	 	 	 	822,197	 	
Amortization	 	 	111,287	 	 	 	45,236	 	 	 	418,644	 	 	 	158,860	 	
Energy Efficiency Programs	 	 	162,545	 	 	 	143,796	 	 	 	498,708	 	 	 	460,814	 	
Taxes Other Than Income Taxes	 	 	240,047	 	 	 	213,881	 	 	 	683,441	 	 	 	623,827	 	
Total Operating Expenses	 	 	2,658,352	 	 	 	1,949,463	 	 	 	7,583,679	 	 	 	5,860,669	 	
Operating Income	 	 	557,293	 	 	 	483,331	 	 	 	1,675,917	 	 	 	1,520,503	 	
Interest Expense	 	 	178,174	 	 	 	147,962	 	 	 	491,509	 	 	 	431,162	 	
Other Income, Net	 	 	89,831	 	 	 	43,768	 	 	 	255,253	 	 	 	124,588	 	
Income Before Income Tax Expense	 	 	468,950	 	 	 	379,137	 	 	 	1,439,661	 	 	 	1,213,929	 	
Income Tax Expense	 	 	117,661	 	 	 	94,091	 	 	 	349,305	 	 	 	294,461	 	
Net Income	 	 	351,289	 	 	 	285,046	 	 	 	1,090,356	 	 	 	919,468	 	
Net Income Attributable to Noncontrolling Interests	 	 	1,880	 	 	 	1,880	 	 	 	5,639	 	 	 	5,639	 	
Net Income Attributable to Common Shareholders	 	$	349,409	 	 	$	283,166	 	 	$	1,084,717	 	 	$	913,829	 	
Basic Earnings Per Common Share	 	$	1.01	 	 	$	0.82	 	 	$	3.13	 	 	$	2.66	 	
Diluted Earnings Per Common Share	 	$	1.00	 	 	$	0.82	 	 	$	3.13	 	 	$	2.65	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Weighted Average Common Shares Outstanding:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Basic	 	 	347,297,411	 	 	 	344,023,846	 	 	 	346,115,823	 	 	 	343,848,905	 	
Diluted	 	 	347,762,693	 	 	 	344,669,782	 	 	 	346,573,101	 	 	 	344,480,056	 	
 
The data contained in this report is preliminary and is unaudited. This report is being submitted for the sole purpose of providing information to shareholders about Eversource Energy and Subsidiaries and is not a representation, prospectus, or intended for use in connection with any purchase or sale of securities.

 

 

EVERSOURCE ENERGY Q3 2022 RESULTS November 3, 2022 2022 Third Quarter Results Exhibit 99.3

EVERSOURCE ENERGY Q3 2022 RESULTS Safe Harbor Statement 1 All per - share amounts in this presentation are reported on a diluted basis. The only common equity securities that are publicly traded are common shares of Eversource Energy. The earnings and EPS of each business do not represent a direct legal interest in the assets and liabilities of such business, bu t r ather represent a direct interest in Eversource Energy's assets and liabilities as a whole. EPS by business is a financial measure not recognized under generally accepted accounting pr inciples (non - GAAP) that is calculated by dividing the net income or loss attributable to common shareholders of each business by the weighted average diluted Eversource Energy com mon shares outstanding for the period. Earnings discussions also include non - GAAP financial measures referencing 2022 and 2021 earnings and EPS excluding certain transaction an d 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. Eversource Energy uses these non - GAAP financial measures to evaluate and provide details of earnings results by business and to more fully compare and explain 2022 and 2021 results without including these items. This information is amon g t he primary indicators management uses as a basis for evaluating performance and planning and forecasting of future periods. Management believes the impacts of transaction and tr ansition 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 Eversource Energy’s ongo ing costs and performance. Due to the nature and significance of the effect of these items on net income attributable to common shareholders and EPS, management believes tha t the non - GAAP presentation is a more meaningful representation of Eversource Energy’s financial performance and provides additional and useful information to read ers in analyzing historical and future performance of the business. These non - GAAP financial measures should not be considered as alternatives to Eversource Energy’s reported net in come attributable to common shareholders or EPS determined in accordance with GAAP as indicators of Eversource Energy’s operating performance. This document includes statements concerning Eversource Energy’s expectations, beliefs, plans, objectives, goals, strategies, as sumptions of future events, future financial performance or growth and other statements that are not historical facts. These statements are “forward - looking statements” with in the meaning of the Private Securities Litigation Reform Act of 1995. Generally, readers can identify these forward - looking statements through the use of words or phrases such a s “estimate,” “expect,” “anticipate,” “intend,” “plan,” “project,” “believe,” “forecast,” “should,” “could” and other similar expressions. Forward - looking statements involve r isks and uncertainties that may cause actual results or outcomes to differ materially from those included in the 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 project ions 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: cyberattack s or breaches, including those resulting in the compromise of the confidentiality of our proprietary information and the personal information of our customers; disruptions i n t he 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, includi ng any new or emerging variants, on our customers, vendors, employees, regulators, and operations; changes in economic conditions, including impact on interest rates, tax polic ies , 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, phys ica l 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, st ate and federal regulatory, public policy and taxing bodies; substandard performance of third - party suppliers and service providers; fluctuations in weather patterns, including extreme weat her due to climate change; changes in business conditions, which could include disruptive technology or development of alternative energy sources related to our current or fut ure business model; contamination of, or disruption in, our water supplies; changes in levels or timing of capital expenditures; changes in laws, regulations or regulatory polic y, including compliance with environmental laws and regulations; changes in accounting standards and financial reporting regulations; actions of rating agencies; and other prese ntl y unknown or unforeseen factors. Other risk factors are detailed in Eversource Energy’s reports filed with the Securities and Exchange Commission (SEC). They ar e updated as necessary and available on Eversource Energy’s website at www.eversource.com and on the SEC’s website at www.sec.gov. All such factors are difficult to predict an d c ontain uncertainties that may materially affect Eversource Energy’s actual results, many of which are beyond our control. You should not place undue reliance on the forward - lo oking statements, as each speaks only as of the date on which such statement is made, and, except as required by federal securities laws, Eversource Energy undertakes no obl iga tion 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 una nticipated events.

EVERSOURCE ENERGY Q3 2022 RESULTS Agenda 2 Joe Nolan President & CEO ▪ Business Update ▪ Winter Energy Pricing ▪ Offshore Wind Update ▪ Q3 2022 Financial Results ▪ Regulatory Update ▪ Financing Activity Update John Moreira CFO & Treasurer

EVERSOURCE ENERGY Q3 2022 RESULTS ▪ South Fork Wind construction continues to progress – Construction of conduit system in town roads and along the Long Island Railroad is ahead of schedule and nearly complete – Construction of the marine portion of the project will begin this month with the sea to shore conduit system ▪ Other projects progressing through siting and permitting – Revolution Wind Draft Environmental Impact Statement issued by BOEM on September 2 – Sunrise Wind’s New York State Article VII settlement discussions recently concluded; New York PSC expected to issue certificate before end of year ▪ Strategic review of offshore wind assets advancing – Engaging with potential buyers – Could result in potential sale of all or part of our 50% interest in the Joint Venture – Process expected to continue through end of year 3 Offshore Wind Update

EVERSOURCE ENERGY Q3 2022 RESULTS 4 Overview of Offshore Wind Procurement by State (In MWs) OSW Target Awarded Remaining Authority Massachusetts 5,600 3,209 2,391 Rhode Island 1,438 438 1,000 Connecticut 2,304 1,108 1,196 New York 9,000 4,362 4,638 Total 18,342 9,117 9,225 ▪ New York and Rhode Island conducting solicitations for up to 4,600 MW and 1,000 MW, respectively

EVERSOURCE ENERGY Q3 2022 RESULTS 5 3Q 2022 3Q 2021 3Q Change 9M 2022 9M 2021 9M Change $0.44 $0.40 $0.04 $1.32 $1.20 $0.12 0.65 0.62 0.03 1.43 1.31 0.12 (0.07) (0.06) (0.01) 0.42 0.37 0.05 0.05 0.05 0.00 0.09 0.09 0.00 (0.06) 0.01 (0.07) (0.09) (0.02) (0.07) 1.01 1.02 (0.01) 3.17 2.95 0.22 (0.01) (0.20) 0.19 (0.04) (0.30) 0.26 $1.00 $0.82 $0.18 $3.13 $2.65 $0.48 Electric Transmission Electric Distribution (Non - GAAP) Natural Gas Distribution Parent & Other (Non - GAAP) Water Distribution EPS, Ex. CL&P Settlement Charge, Transaction/Transition Costs (Non - GAAP) CL&P Settlement Charge & Transaction/Transition Costs Reported EPS (GAAP) Third Quarter and Nine Months 2022 Financial Results

EVERSOURCE ENERGY Q3 2022 RESULTS 6 Well Performing Core Businesses Expected to Drive EPS CAGR to Upper Half of 5 – 7% Through 2026 $2.28 $2.53 $2.65 $2.81 $2.96 $3.11 $3.25 $3.45 $3.64 $3.86 $4.04 - $4.14 2012A* 2013A* 2014A* 2015A* 2016A 2017A 2018A 2019A* 2020A* 2021A* 2022E* 2023E 2024E 2025E 2026E * Reflects non - GAAP results, excludes nonrecurring charges

EVERSOURCE ENERGY Q3 2022 RESULTS 7 Proposed Capital Investments Needed to Unlock Renewable Distributed Energy Resources (DER) in Massachusetts ▪ Interconnection upgrades needed to deliver additional clean energy into our system – Current proposal would enable up to 1 GW of solar ▪ Proposal establishes fixed construction schedule, fixed fee and fixed enabled capacity for DER customers ▪ Portion of costs recovered from local transmission and distribution customers, and portion from developers ▪ Six NSTAR Electric solar cluster proposals are now under DPU review ▪ Eversource targeting completion of these projects over the next 4 - 5 years ▪ Investments not currently included in our capital investment forecast

EVERSOURCE ENERGY Q3 2022 RESULTS DER – Area Map of Six Solar Cluster Proposals Plymouth Cape Marion/ Fairhaven Dartmouth/ Westport Freetown I - 90 CT MA Plainfield - Blandford I - 91 8

EVERSOURCE ENERGY Q3 2022 RESULTS 9 DER Projects – Expected Investment Amounts Investment ($ in Millions) Transmission Investment Distribution Investment Total Investment $902 (1) (1) Approximately 50% of the distribution cost (no transmission) would be reimbursed over time by the developers, based on Eversource’s proposal to the DPU $637 $265

EVERSOURCE ENERGY Q3 2022 RESULTS Rate Review Summary NSTAR Electric ▪ Expected decision date of December 1, 2022 ▪ Rates effective on January 1, 2023 ▪ Revenue deficiency of $93M ▪ Requested return on equity of 10.5% ▪ Requested capital structure of 53.21% common equity Aquarion Connecticut ▪ Rate review filed on August 29, 2022 ▪ First rate review in nearly a decade ▪ Expected decision date of March 15, 2023 ▪ Revenue deficiency requested: – $27.5M in Year 1, or 13.9% – $22.4M over 2 subsequent rate years 10

EVERSOURCE ENERGY Q3 2022 RESULTS 11 Equity Issuance Update New Shares ▪ $1.2 billion At - The - Market Program has issued 2.17M shares at a weighted average price of $92.31 through October with proceeds of approximately $200 million Treasury Shares ▪ Dividend reinvestment, employee equity programs continue with approximately 810,000 shares issued YTD through October

EVERSOURCE ENERGY Q3 2022 RESULTS APPENDIX 12

EVERSOURCE ENERGY Q3 2022 RESULTS Inflation Reduction Act Impact on Offshore Wind Review ▪ Tax credits extended to 2032 ▪ Additional 10% if qualified for domestic content ▪ More seamless transferability of tax benefits to 3 rd parties 13 Impact on Regulated Businesses ▪ Lower cost for customers related to regulated business investments in solar and battery storage ▪ Near term cash benefit ▪ No material impact expected from the Alternative Minimum Tax provision

EVERSOURCE ENERGY Q3 2022 RESULTS 14 Assumptions July 2022 October 2022 Costs Locked in for Three Projects 82% 82% Offshore Investment to Date $1.5B $1.8B Expected Spending in 2022 $900M - $1B $900M - $1B Expected Spending 2023 - 2026 $3B - $3.6B $3B - $3.6B Expected Long - Term Average ROE 11 - 13% 11 - 13% (Likely higher due to impact of IRA) South Fork Wind In Service Late 2023 (Under Construction) Late 2023 (Under Construction) Revolution Wind In Service In 2025 In 2025 Sunrise Wind In Service Late 2025 Late 2025 Offshore Wind Updates

EVERSOURCE ENERGY Q3 2022 RESULTS Projected Capital Expenditures For Core Businesses $1,030 $964 $1,115 $1,118 $979 $861 $834 $808 $1,221 $1,189 $1,244 $1,450 $1,469 $1,391 $1,372 $1,338 $453 $545 $799 $921 $849 $926 $895 $938 $110 $127 $144 $154 $163 $176 $190 $206 $239 $239 $239 $254 $224 $208 $203 $214 $3,053 $3,064 $3,541 $3,897 $3,684 $3,562 $3,494 $3,504 $0 $500 $1,000 $1,500 $2,000 $2,500 $3,000 $3,500 $4,000 $4,500 2019A 2020A 2021A 2022E 2023E 2024E 2025E 2026E Transmission Electric Distribution Natural Gas Distribution Water IT and Facilities $ In Millions $18.1 Billion 2022 - 2026 15

EVERSOURCE ENERGY Q3 2022 RESULTS 16 AMI Implementation Under Active Review by MA and CT Regulators AMI - MA Briefing period ended June 27, 2022 Decision expected Q4 2022 AMI - CT Briefing period ended April 29, 2022 Additional written comments filed on July 20, 2022 Decision expected by either year end 2022 or early 2023 What does AMI do for . . . The Customer? System Performance?