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COMMITMENTS AND CONTINGENCIES (Tables) | 9 Months Ended
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Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract] |
Environmental Sites and Related Reserves | The number of environmental sites and related reserves for which remediation or long-term monitoring, preliminary site work or site assessment is being performed are as follows:
| As of September 30, 2021 |  | As of December 31, 2020
| Number of Sites |  | Reserve (in millions) |  | Number of Sites |  | Reserve (in millions)
Eversource | 62 |  |  | $ | 111.9 |  |  | 63 |  |  | $ | 102.4 |
CL&P | 14 |  |  | 12.5 |  |  | 15 |  |  | 12.3 |
NSTAR Electric | 12 |  |  | 3.7 |  |  | 12 |  |  | 4.7 |
PSNH | 9 |  |  | 6.4 |  |  | 9 |  |  | 7.1 |
Non-Cancelable Commitments under Purchase Commitment Contracts | Renewable energy contracts include non-cancelable commitments under contracts of NSTAR Electric for the purchase of energy and RECs from renewable energy facilities.
NSTAR Electric |  |  |  |  |  |  |  |  |  |  |  |  |
(Millions of Dollars) | 2021 |  | 2022 |  | 2023 |  | 2024 |  | 2025 |  | Thereafter |  | Total
Renewable Energy | $ | 27.1 |  |  | $ | 103.9 |  |  | $ | 230.5 |  |  | $ | 341.2 |  |  | $ | 348.1 |  |  | $ | 6,564.2 |  |  | $ | 7,615.0 |
Summary of Exposure to Guarantees and Indemnifications | The following table summarizes Eversource parent's exposure to guarantees and indemnifications of its subsidiaries and affiliates to external parties:
As of September 30, 2021
Company (Obligor) |  | Description |  | Maximum Exposure (in millions) |  | Expiration Dates
North East Offshore LLC |  | Construction-related purchase agreements with third-party contractors (1) |  | $ | 1,093.5 |  |  | (1)
Eversource Investment LLC |  | Funding and indemnification obligations of North East Offshore LLC (2) |  | — |  |  | (2)
Sunrise Wind LLC |  | OREC capacity production (3) |  | 2.2 |  |  | (3)
Sunrise Wind LLC |  | Construction-related purchase agreements with third-party contractors (4) |  | 386.4 |  |  | —
South Fork Wind, LLC |  | Transmission interconnection |  | 1.2 |  |  | —
South Fork Wind, LLC |  | Construction-related purchase agreements with third-party contractors (5) |  | 40.6 |  |  | 2023
Bay State Wind LLC |  | Real estate purchase |  | 2.5 |  |  | 2022
Various |  | Surety bonds (6) |  | 67.5 |  |  | 2021 - 2023
Rocky River Realty Company and Eversource Service |  | Lease payments for real estate |  | 4.0 |  |  | 2024
(1) Eversource parent issued guarantees on behalf of its 50 percent-owned affiliate, North East Offshore LLC (NEO), under which Eversource parent agreed to guarantee 50 percent of NEO’s performance of obligations under certain purchase agreements with third-party contactors, in an aggregate amount not to exceed $1.3 billion with an expiration date in 2025. Eversource parent also issued a separate guarantee to Ørsted on behalf of NEO, under which Eversource parent agreed to guarantee 50 percent of NEO’s payment obligations under certain offshore wind project construction-related agreements with Ørsted in an aggregate amount not to exceed $62.5 million. Any amounts paid under this guarantee to Ørsted will count toward, but not increase, the maximum amount of the Funding Guarantee described in Note 2, below. The guarantee expires upon the full performance of the guaranteed obligations. (2) Eversource parent issued a guarantee (Funding Guarantee) on behalf of Eversource Investment LLC (EI), its wholly-owned subsidiary that holds a 50 percent ownership interest in NEO, under which Eversource parent agreed to guarantee certain funding obligations and certain indemnification payments of EI under the Amended and Restated Limited Liability Company Operating Agreement of NEO, in an aggregate amount not to exceed $910 million. The guaranteed obligations include payment of EI's funding obligations during the construction phase of NEO’s underlying offshore wind projects and indemnification obligations associated with third party credit support for its investment in NEO. Eversource parent’s obligations under the Funding Guarantee expire upon the full performance of the guaranteed obligations. (3) Eversource parent issued a guarantee on behalf of its 50 percent-owned affiliate, Sunrise Wind LLC, whereby Eversource parent will guarantee Sunrise Wind LLC's performance of certain obligations, in an aggregate amount not to exceed $15.4 million, under the Offshore Wind Renewable Energy Certificate Purchase and Sale Agreement (the Agreement). The Agreement was executed on October 23, 2019, by and between the New York State Energy Research and Development Authority (NYSERDA) and Sunrise Wind LLC. The guarantee expires upon the full performance of the guaranteed obligations. (4) Eversource parent issued a guaranty on behalf of its 50 percent-owned affiliate, Sunrise Wind LLC, whereby Eversource parent will guarantee Sunrise Wind LLC's performance of certain obligations, in an aggregate amount not to exceed $420.6 million, in connection with a construction-related purchase agreement. Eversource parent’s obligations under the guarantee expire upon the earlier of (i) April 14, 2026 and (ii) full performance of the guaranteed obligations. (5) Eversource parent issued two guarantees on behalf of its 50 percent-owned affiliate, South Fork Wind, LLC, whereby Eversource parent will guarantee South Fork Wind, LLC's performance of certain obligations in connection with two construction-related purchase agreements. Under one guarantee, Eversource parent will guarantee South Fork Wind, LLC's performance of certain obligations, in an aggregate amount not to exceed $25.8 million. Eversource parent’s obligations under the guarantee expire upon the earlier of (i) October 4, 2023 and (ii) full performance of the guaranteed obligations. Under the second guaranty, Eversource parent will guarantee South Fork Wind, LLC's performance of certain obligations, in an aggregate amount not to exceed $14.8 million. Eversource parent’s obligations under the guarantee expire upon the earlier of (i) October 18, 2023 and (ii) full performance of the guaranteed obligations. (6) Surety bond expiration dates reflect termination dates, the majority of which will be renewed or extended. Certain surety bonds contain credit ratings triggers that would require Eversource parent to post collateral in the event that the unsecured debt credit ratings of Eversource parent are downgraded.

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- Definition Tabular disclosure of each guarantee obligation, or each group of similar guarantee obligations, including (a) the nature of the guarantee, including its term, how it arose, and the events or circumstances that would require the guarantor to perform under the guarantee; (b) the maximum potential amount of future payments (undiscounted) the guarantor could be required to make under the guarantee; (c) the current carrying amount of the liability, if any, for the guarantor's obligations under the guarantee; and (d) the nature of any recourse provisions under the guarantee, and any assets held either as collateral or by third parties, and any relevant related party disclosure. Excludes disclosures about product warranties. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=124440162&loc=d3e12069-110248 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=124440162&loc=d3e12265-110248 + Details
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