About Eversource Energy

Eversource Energy uses Yankee ingenuity, power, and gas to keep its customers happy. The largest energy delivery company in New England, Eversource serves 3.6 million electric and gas customers via its six distinct utility companies in Connecticut, Massachusetts, and New Hampshire. Eversource delivers its energy over nearly 4,000 miles of power transmission lines, 40,000 miles of electric distribution lines, and more than 6,500 miles of gas distribution lines. Its electricity-focused utility companies include Public Service Company of New Hampshire (PNSH) and Western Massachusetts Electric. Eversource’s gas utilities are NSTAR Gas and Yankee Gas, the latter of which supplies natural gas to nearly 230,000 customers in more than 70 cities and towns in Connecticut. Although PNSH generates its own power, Eversource buys most of its electricity from third parties before distributing it to its customers.


Eversource Energy reports financial information for three segments, Electric Distribution, Electric Transmission, and Natural Gas Distribution.

Organizationally, the company’s operations are mostly managed within its regulated utility companies: Connecticut Light and Power Company (CL&P), NSTAR Electric, Public Service Company of New Hampshire (PSNH), Western Massachusetts Electric Company (WMECO), NSTAR Gas, and Yankee Gas Services Company (Yankee Gas).

Eversource’s Electric Distribution segment accounts for roughly 75% of total revenue. It distributes electricity to retail customers in Connecticut, eastern Massachusetts, New Hampshire and western Massachusetts through the company’s regulated utilities of CL&P, NSTAR Electric, PSNH and WMECO, respectively. It also manages electric generation assets, such as plants owned by PSNH that have a combined 1,200 MW of capacity and the three solar sites WMECO owns that have 8 MW of capacity. The segment owns more than 500 substations and 55,000 miles of overhead and underground lines. A little more than 50% of the segment’s revenue comes from residential customers and about 35% comes from commercial clients.

The Electric Transmission segment owns and maintains transmission facilities that are part of an interstate power transmission grid over which electricity is transmitted throughout New England. The segment owns some 70 substations, about 4,000 miles of overhead and underground lines, and about 16.3 million kVa of transformer capacity. It makes some 15% of Eversource’s revenue.

Eversource’s Natural Gas Distribution segment delivers product though NSTAR Gas and Yankee Gas to almost 300,000 Massachusetts customers across a 1,000-mile service area, and to just more than 225,000 customers in Connecticut across a 2,100-mile service area. The segment accounts for a little more than 10% of total revenue, and within the segment it obtains 55% of revenue from residential customers, 35% from commercial clients, and 10% from industrial companies.

Geographic Reach

Eversource Energy provides regulated electricity and gas service to about 1.4 million customers in Connecticut, nearly 1.7 million in Massachusetts, and some 500,000 in New Hampshire. It is headquartered in both Boston, Massachusetts and Hartford, Connecticut.

It owns and operates electricity generation facilities in New Hampshire, as part of its Public Service Company of New Hampshire utility.

Sales and Marketing

Eversource serves some 2.8 million residential customers, almost 380,000 commercial customers, and about 7,800 industrial companies. The greatest use of electricity is by commercial customers (27,000 GWh) followed closely by residential users (21,000 GWh).

Connecticut and Massachusetts law allows customers to choose their energy supplier, however Eversource’s subsidiaries are deemed the sole provider of electric distribution. The same is true for New Hampshire customers, though Eversource generates electricity in the state and therefore has competition with respect to supplying energy (as opposed to just distributing it).

Financial Performance

Eversource’s 2016 operating revenue broke a five year upward trend during which it rose from $4.5 billion in 2011 to a peak of nearly $8.0 billion in 2015. In 2016, operating revenue dipped by 4% to $7.6 billion compared to 2015’s $8.0 billion. The main cause was a 5% decline in electric distribution revenue and an almost 14% fall in natural gas distribution sales (due to warmer than normal winter weather).

For the past decade, Eversource’s net income rose each year, building from $240 million in 2007 to exceeding $500 million in 2012 to 2016’s $942 million (up 7% from 2015). 2016’s increase is due to a substantial $580 million drop in purchased fuel costs, partially offset by expense rises of less than $50 million in each of depreciation, funding for energy efficiency programs, taxes, and interest expense.

Cash and cash equivalents at the end of 2016 were $30.3 million, up $6.3 million from 2015. It is the result of $2.18 billion of cash provided by operating activities, offset by $2.15 billion used by investing and $20 million used for financing activities.


Eversource’s corporate strategy includes continuing its investment in existing and new infrastructure, lowering finance costs via improved credit ratings, and extending into renewable energy (both as generator and distributor) while divesting older generation assets.

For the year 2016 the company increased its capital expenditures (CAPEX) by 11% over the prior year, to nearly $900 million. Approximately half was spent on projects to improve reliability of electric transmission and gas distribution including $300 million to install new gas pipes and equipment. Looking forward, in the period from 2017 to 2020 it plans to spend $9.6 billion in CAPEX: $5.3 billion for the Electric and Gas Distribution segments, $3.9 billion for the Electric Transmission segment, and $400,000 for facilities and IT.

Through its Access Northeast joint venture, of which Eversource has a 40% interest, the company hopes to deliver an additional 900 million cubic feet per day of natural gas to New England. The venture will provide New England natural gas distribution companies and generators with additional access to gas supplies from multiple, diverse receipt points along the Algonquin pipeline system.

The Eversource parent company has the highest credit rating in the industry and has a stated corporate objective to maintain it. With nearly $745 million in debt due in 2017, the company maintained its ‘A’ credit rating to ensure favorable refinance terms on the borrowings.

The company focus on sourcing renewable energy gained traction in 2016. It joined Hydro Quebec to create the Northern Pass Transmission partnership to distribute clean hydro power from Canada into New England. It joined Danish Oil and Natural Gas (DONG) in a partnership to launch Bay State Wind to develop a 2,000 MW wind farm off the Massachusetts coast. In 2017 Eversource expects to invest about $200 million in utility-scale solar developments in Massachusetts. As an additional nod to its shift to clean energy, the company awaits final regulatory approval to divest its New Hampshire-based generation assets, which use mainly coal, gas, and oil-based inputs.

Mergers and Acquisitions

In late-2017 Eversource Energy purchased New England’s largest private water firm, Aquarion Water Company, for $800 million in cash and assumption of $795 million of Aquarion debt.

In 2016, Eversource entered into a 50/50 partnership with Denmark-based DONG Energy, one of the world leaders in off-shore wind development. The JV company, Bay State Wind, plans to develop a 2,000 MW wind farm in a 300-quare mile area south of Martha’s Vineyard island.

Internally, Eversource is seeking regulatory approval to merge its two Massachusetts regulated utilities, NSTAR Electric and WMECO, into one entity. Approval is expected in 2017. Additionally, in late 2016, Eversource’s PSNH utility received initial approval to divest itself of its 1,200 MW of coal-, natural gas-, and oil-fired electricity generation plants. The plants provide just less than 50% of PSNH’s delivered power. Eversource anticipates completion of the sale by the end of 2017.

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Eversource Energy

300 Cadwell Dr
Springfield, MA 01104-1742
Phone: 1 (800) 286-5000
Fax: 1 (860) 665-5418


  • Employer Type: Public
  • Stock Symbol: ES
  • Stock Exchange: NYSE
  • President and CEO: James J. Judge
  • Chairman: Thomas J. May
  • EVP and COO: Werner J. Schweiger
  • 2016 Employees: 7,762

Major Office Locations

  • Springfield, MA

Other Locations

  • Berlin, CT
  • Cheshire, CT
  • Danielson, CT
  • East Hartford, CT
  • Hartford, CT
  • Monroe, CT
  • Newington, CT
  • Simsbury, CT
  • Stonington, CT
  • Tolland, CT
  • Waterbury, CT
  • Windsor, CT
  • Amherst, MA
  • Boston, MA
  • Hingham, MA
  • Millbury, MA
  • Pittsfield, MA
  • Plymouth, MA
  • Rowe, MA
  • Somerville, MA
  • Waltham, MA
  • Westwood, MA
  • Auburn, ME
  • Berlin, NH
  • Hooksett, NH
  • Keene, NH
  • Nashua, NH
  • Portsmouth, NH
  • Roslyn, NY
  • East Providence, RI
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