Northeast Utilities

Northeast Utilities (NU) uses Yankee ingenuity, power, and gas to keep customers happy. The largest utility in New England, NU operates six electric and gas utilities in Connecticut, Massachusetts, and New Hampshire and serves more than 3.5 million electric and gas customers. It has 4,500 miles of power transmission lines, 72,000 miles electric distribution lines and 6,000 miles of gas distribution lines. Subsidiaries include Connecticut Light and Power, Public Service Company of New Hampshire, and Western Massachusetts Electric. NU's Yankee Gas supplies natural gas to 200,000 customers in Connecticut. In 2012 NU bought regional rival NSTAR (with 1.1 million power and 300,000 gas customers) for $4.2 billion.

Strategy

The "merger of equals" created a major energy player in the US Northeast which serves more than half the total utility customers in New England. NSTAR shareholders hold about 44% of the expanded company.

The acquisition boosts the financial resources of NU to pay for $9 billion of planned transmission projects aimed at bringing cleaner power from Northern New England and Canada to population centers in Southern New England.

Geographic Reach

The company operates six electric and gas utilities in Connecticut, Massachusetts, and New Hampshire.

Operations

Electric utility Connecticut Light and Power Company serves residential, commercial, and industrial customers in parts of Connecticut.

NSTAR Electric Company serves electric utility residential, commercial, and industrial customers in parts of Massachusetts.

Public Service Company of New Hampshire is a regulated electric utility that serves residential, commercial and industrial customers in parts of New Hampshire and owns generation assets used to serve customers;

Sister power utility Western Massachusetts Electric Company serves residential, commercial and industrial customers in parts of western Massachusetts and owns solar generating assets

NSTAR Gas Company is a regulated natural gas utility that serves residential, commercial and industrial customers in parts of Massachusetts.

Gas utility Yankee Gas Services Company serves residential, commercial, and industrial customers in parts of Connecticut.

NU's other subsidiaries include Northeast Utilities Service Company and Hopkinton LNG Corp.

Financial Performance

NU's revenues increased by 41% 2011 due to the addition of NSTAR,
which included electric distribution revenues of $1.7 billion, transmission
revenues of $50 million, natural gas revenues of $200 million and other revenues of $15 million, and the consolidation of Connecticut Yankee Atomic Power and Yankee Atomic Electric revenues of $40 million. The portion of electric distribution segment revenues that impacts earnings increased $8.8 million due primarily to Connecticut Light and Power's regulatory and other incentives of $17.7 million.

Its net income increased by 33% in 2012 due to higher revenues and a decrease in amortization of regulatory assets at Public Service Company of New Hampshire and Connecticut Light and Power.

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Northeast Utilities


1 Federal St Bldg 111-4
Springfield, MA 01105-2071
Phone: 1 (413) 785-5871
www.nu.com

STATS


  • Employer Type: Public
  • Stock Symbol: NU,
  • Stock Exchange: , NYSE
  • EVP and COO; CEO, CL&P, PSNH, WMECO and Yankee Gas: Leon Olivier
  • Chairman, President, and CEO: Thomas May
  • EVP and COO; CEO, CL&P, PSNH, WMECO and Yankee Gas: Leon Olivier

Major Office Locations

  • Springfield, MA

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