Eversource Energy
32 named things its latest annual report says its results depend on, each in the company's own words. 12 of them are also named by other companies we've read.
Suppliers
Millstone and Seabrook nuclear PPAs
depends onCL&P is required by both state legislation and regulation to purchase electric generation from Millstone and Seabrook under PURA-approved PPAs entered in 2019.Business (Item 1)
Tennessee Gas Pipeline Company
depends onNSTAR Gas and EGMA purchase transportation, storage, and balancing services from Tennessee Gas Pipeline Company and Algonquin Gas Transmission Company, as well as other upstream pipelines that transport natural gas from major natural gas producing regions in the U.S., including the Gulf Coast, Mid-continent region, and Appalachian Shale (as well as Ontario, Canada specific to EGMA), which supply to the final delivery points in the NSTAR Gas and EGMA service areas.Business (Item 1)
Algonquin Gas Transmission Company
depends onYankee Gas obtains its interstate capacity from the three interstate pipelines that directly serve Connecticut: the Algonquin, Tennessee and Iroquois Pipelines, which connect to other upstream pipelines that transport natural gas from major natural gas producing regions, including the Gulf Coast, Mid-continent, Canadian regions and Appalachian Shale supplies.Business (Item 1)
Iroquois Pipeline
depends onYankee Gas obtains its interstate capacity from the three interstate pipelines that directly serve Connecticut: the Algonquin, Tennessee and Iroquois Pipelines, which connect to other upstream pipelines that transport natural gas from major natural gas producing regions, including the Gulf Coast, Mid-continent, Canadian regions and Appalachian Shale supplies.Business (Item 1)
Partners and platforms
ISO New England (ISO-NE)
depends on · $38.6 million of cash posted with ISO-NEnamed as a riskIn extreme cases, ISO-NE may require load shed if regional power capacity is insufficient.Risk factors (Item 1A)
Also named by PPL
Other companies
Goodwill
$4.23 billionnamed as a riskWe have a significant amount of goodwill on our consolidated balance sheet, which, as of December 31, 2025 totaled $4.23 billion.Risk factors (Item 1A)
Revolution Wind
40 percent level of federal ITCsnamed as a riskThe purchase price included the sales value related to a 40 percent level of federal ITCs, 10 percent of which is the energy community ITC adder included in the Inflation Reduction Act related to Revolution Wind.Risk factors (Item 1A)
South Fork Wind
30 percent levelnamed as a riskAdditionally, we hold a tax equity investment in South Fork Wind that is expected to result in cash flow benefits from ITCs at a 30 percent level.Risk factors (Item 1A)
International Brotherhood of Electrical Workers
Approximately 49 percent of our employeesApproximately 49 percent of our employees are members of the International Brotherhood of Electrical Workers, the Utility Workers Union of America or The United Steelworkers, and are covered by various collective bargaining agreements.Business (Item 1)
Also named by AEE, EIX, EVRG, FE, MYRG, NEE, PNW, SO and 2 more
Global Infrastructure Partners (GIP)
named as a riskNew information that becomes available or future developments that arise as the construction of Revolution Wind progresses could result in increased costs of the project that would ultimately be owed to GIP.Risk factors (Item 1A)
Also named by BLK
Places
Massachusetts
operates in · approximately 1.62 million customersAs of December 31, 2025, NSTAR Electric furnished retail franchise electric service to approximately 1.62 million customers in 159 cities and towns in eastern and western Massachusetts, including Boston, Cape Cod, Martha's Vineyard and the greater Springfield metropolitan area.Business (Item 1)
Connecticut
operates in · approximately 1.32 million customersAs of December 31, 2025, CL&P furnished retail franchise electric service to approximately 1.32 million customers in 157 cities and towns in Connecticut.Business (Item 1)
Also named by GD
Connecticut
concentrated in · approximately 91 percent of Aquarion’s customersAs of December 31, 2025, approximately 91 percent of Aquarion’s customers were based in Connecticut.Business (Item 1)
Also named by GD
New Hampshire
operates in · approximately 549,000 retail customersAs of December 31, 2025, PSNH furnished retail franchise electric service to approximately 549,000 retail customers in 206 cities and towns in New Hampshire.Business (Item 1)
Hazards
Manufactured gas plant (MGP) sites
$140.9 millionnamed as a riskWe currently have partial or full ownership responsibilities at former MGP sites that have a reserve balance of $140.9 million of the total $154.3 million as of December 31, 2025.Business (Item 1)
PFAS
subject tonamed as a riskFor our water business, compliance with water quality regulations, including those for PFAS and lead, could require the construction of facilities and replacement of customer lead service lines, respectively.Risk factors (Item 1A)
Also named by ACHR, APG, CAG, CAVA, CTVA, DD, FDX, INTC and 12 more
Drought
operates innamed as a riskThis combination of factors may cause an increased likelihood of drought emergencies and water use restrictions that could adversely affect our ability to provide water to our customers, and reputational/brand damage that could negatively impact our water business.Risk factors (Item 1A)
Also named by AESI, AM, AWK, BF/B, BMI, CEG, EOG, FPI and 8 more
Severe storms
operates innamed as a riskWe have incurred significant storm restoration costs that are not yet approved by the regulatory commissions, and though we believe those costs were prudently incurred, it is possible that some amount may be disallowed.Risk factors (Item 1A)
Commodities and inputs
New England commodity costs
exposed to its pricenamed as a riskAlso, supply constraints in New England have led to significant increases in commodity costs which may impact our ability to accomplish our strategic objectives.Risk factors (Item 1A)
Regulators
Federal Energy Regulatory Commission (FERC)
subject to · approximately $11.3 billionnamed as a riskIf FERC changes its methodology on developing ROEs or eliminates certain transmission incentives, it could negatively impact our financial position, results of operations and cash flows.Risk factors (Item 1A)
Also named by AA, AEE, AEP, AM, AMRC, AR, ARES, ATO and 62 more
New Hampshire Public Utilities Commission (NHPUC)
subject to · authorized ROE of 9.5 percentPSNH is subject to regulation by the New Hampshire Public Utilities Commission (NHPUC), which, among other things, has jurisdiction over rates, certain dispositions of property and plant, mergers and consolidations, issuances of securities, standards of service and construction and operation of facilities.Business (Item 1)
Connecticut Public Utilities Regulatory Authority (PURA)
subject tonamed as a riskWe continue to monitor the evolving regulatory environment in Connecticut, including changes in the composition of PURA, which may affect our electric, natural gas and water businesses in that state.Risk factors (Item 1A)
Massachusetts Department of Public Utilities (DPU)
subject toNSTAR Electric is subject to regulation by the Massachusetts Department of Public Utilities (DPU), which, among other things, has jurisdiction over rates, certain dispositions of property and plant, mergers and consolidations, issuances of long-term securities, acquisition of securities, standards of service and construction and operation of facilities.Business (Item 1)
Laws and programs
Renewable Portfolio Standards
subject to · 63.1 percentnamed as a riskAs the requirement for credits increases and outpace the renewable energy coming online, we may be required to pay higher prices and make alternative compliance payments to the states.Risk factors (Item 1A)
FERC NETO ROE complaints
subject to · base ROE of 11.14 percentnamed as a riskThe resolution of these proceedings could have a material impact on the financial condition, results of operations, and cash flows.Business (Item 1)
Service quality metrics
subject to · approximately $1.6 millionnamed as a riskNSTAR Gas is required to pay approximately $1.6 million to customers in SQ charges as a result of not meeting certain customer service-related performance metrics in 2025, which was recorded as a regulatory liability as of December 31, 2025.Business (Item 1)
ISO-NE Longer-Term Transmission Planning competitive solicitation
subject tonamed as a riskNew processes and planning frameworks, including ISO-NE’s Longer-Term Transmission Planning (LTTP) competitive solicitation process and advisory role as asset condition reviewer, introduce uncertainty around project timing, scope and cost recovery.Risk factors (Item 1A)
Inflation Reduction Act investment tax credits
subject tonamed as a riskIf the project does not meet the qualifications under federal tax law for the full value of the ITC or there are changes to tax law, it could have a material adverse effect on our financial position, results of operations, and cash flows.Risk factors (Item 1A)
Connecticut minimum downstream flow regulations
subject tonamed as a riskNew regulations are being phased into effect over the next one to five years that will increase the volume of downstream releases required across our Connecticut service territory, depleting the volume of supply in storage that is used to meet customer demands.Risk factors (Item 1A)
Massachusetts DPU 20-80 Future of Gas
subject tonamed as a riskIn December 2023, the DPU ordered that it would consider and, in some cases, require new processes and analysis for traditional natural gas investments, which may require significant changes to the LDC planning process and business models.Business (Item 1)
Connecticut ESI capital tracking mechanism law
subject tonamed as a riskIn 2023, the state of Connecticut enacted a law that prohibits CL&P’s ESI capital tracking mechanism from being reauthorized in the next general distribution proceeding.Business (Item 1)
Massachusetts Electric Sector Modernization Plan
subject toApproved by the DPU in 2024, the ESMP includes incremental spending for interconnections of clean energy and resiliency initiatives, and corresponding cost recovery was established in 2025.Business (Item 1)