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COMMITMENTS AND CONTINGENCIES (Tables) | 12 Months Ended
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Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract] |
Schedule of Environmental Loss Contingencies by Site | A reconciliation of the activity in the environmental reserves is as follows:
(Millions of Dollars) | Eversource |  | CL&P |  | NSTAR Electric |  | PSNH
Balance as of January 1, 2022 | $ | 115.4 |  |  | $ | 13.9 |  |  | $ | 3.3 |  |  | $ | 6.3 |
Additions | 12.6 |  |  | 0.9 |  |  | 0.4 |  |  | 0.5 |
Payments/Reductions | (5.4) |  |  | (0.9) |  |  | (0.3) |  |  | (0.7) |
Balance as of December 31, 2022 | 122.6 |  |  | 13.9 |  |  | 3.4 |  |  | 6.1 |
Additions | 16.8 |  |  | 2.6 |  |  | 2.5 |  |  | 1.7 |
Payments/Reductions | (11.2) |  |  | (2.7) |  |  | (0.5) |  |  | (0.2) |
Balance as of December 31, 2023 | $ | 128.2 |  |  | $ | 13.8 |  |  | $ | 5.4 |  |  | $ | 7.6 |
The number of environmental sites for which remediation or long-term monitoring, preliminary site work or site assessment is being performed are as follows:
| Eversource |  | CL&P |  | NSTAR Electric |  | PSNH
2023 | 65 |  | 16 |  | 12 |  | 8
2022 | 59 |  | 13 |  | 10 |  | 8
Schedule of Estimated Future Annual Costs of Long term Contractual Agreement | The estimated future annual costs of significant executed, non-cancelable, long-term contractual arrangements in effect as of December 31, 2023 are as follows:
Eversource |  |  |  |  |  |  |  |  |  |  |  |  |
(Millions of Dollars) | 2024 |  | 2025 |  | 2026 |  | 2027 |  | 2028 |  | Thereafter |  | Total
Renewable Energy Purchase Contracts | $ | 769.4 |  |  | $ | 863.0 |  |  | $ | 867.9 |  |  | $ | 897.6 |  |  | $ | 893.1 |  |  | $ | 5,368.8 |  |  | $ | 9,659.8 |
Natural Gas Procurement | 423.2 |  |  | 402.3 |  |  | 317.8 |  |  | 264.8 |  |  | 236.0 |  |  | 1,211.8 |  |  | 2,855.9 |
Purchased Power and Capacity | 86.7 |  |  | 75.2 |  |  | 2.9 |  |  | 2.7 |  |  | 2.7 |  |  | 4.5 |  |  | 174.7 |
Peaker CfDs | 17.2 |  |  | 14.1 |  |  | 12.8 |  |  | 9.1 |  |  | 6.8 |  |  | 43.7 |  |  | 103.7 |
Transmission Support Commitments | 19.3 |  |  | 22.2 |  |  | 27.4 |  |  | 31.1 |  |  | 31.1 |  |  | 31.1 |  |  | 162.2 |
Total | $ | 1,315.8 |  |  | $ | 1,376.8 |  |  | $ | 1,228.8 |  |  | $ | 1,205.3 |  |  | $ | 1,169.7 |  |  | $ | 6,659.9 |  |  | $ | 12,956.3 |
CL&P |  |  |  |  |  |  |  |  |  |  |  |  |
(Millions of Dollars) | 2024 |  | 2025 |  | 2026 |  | 2027 |  | 2028 |  | Thereafter |  | Total
Renewable Energy Purchase Contracts | $ | 618.8 |  |  | $ | 628.3 |  |  | $ | 628.0 |  |  | $ | 631.2 |  |  | $ | 632.2 |  |  | $ | 2,087.8 |  |  | $ | 5,226.3 |
Purchased Power and Capacity | 83.8 |  |  | 72.4 |  |  | 0.1 |  |  | — |  |  | — |  |  | — |  |  | 156.3 |
Peaker CfDs | 17.2 |  |  | 14.1 |  |  | 12.8 |  |  | 9.1 |  |  | 6.8 |  |  | 43.7 |  |  | 103.7 |
Transmission Support Commitments | 7.6 |  |  | 8.8 |  |  | 10.8 |  |  | 12.3 |  |  | 12.3 |  |  | 12.3 |  |  | 64.1 |
Total | $ | 727.4 |  |  | $ | 723.6 |  |  | $ | 651.7 |  |  | $ | 652.6 |  |  | $ | 651.3 |  |  | $ | 2,143.8 |  |  | $ | 5,550.4 |
NSTAR Electric |  |  |  |  |  |  |  |  |  |  |  |  |
(Millions of Dollars) | 2024 |  | 2025 |  | 2026 |  | 2027 |  | 2028 |  | Thereafter |  | Total
Renewable Energy Purchase Contracts | $ | 123.0 |  |  | $ | 202.9 |  |  | $ | 206.5 |  |  | $ | 209.3 |  |  | $ | 205.1 |  |  | $ | 2,983.5 |  |  | $ | 3,930.3 |
Purchased Power and Capacity | 2.9 |  |  | 2.8 |  |  | 2.8 |  |  | 2.7 |  |  | 2.7 |  |  | 4.5 |  |  | 18.4 |
Transmission Support Commitments | 7.6 |  |  | 8.7 |  |  | 10.8 |  |  | 12.3 |  |  | 12.3 |  |  | 12.3 |  |  | 64.0 |
Total | $ | 133.5 |  |  | $ | 214.4 |  |  | $ | 220.1 |  |  | $ | 224.3 |  |  | $ | 220.1 |  |  | $ | 3,000.3 |  |  | $ | 4,012.7 |
PSNH |  |  |  |  |  |  |  |  |  |  |  |  |
(Millions of Dollars) | 2024 |  | 2025 |  | 2026 |  | 2027 |  | 2028 |  | Thereafter |  | Total
Renewable Energy Purchase Contracts | $ | 27.6 |  |  | $ | 31.8 |  |  | $ | 33.4 |  |  | $ | 57.1 |  |  | $ | 55.8 |  |  | $ | 297.5 |  |  | $ | 503.2 |
Transmission Support Commitments | 4.1 |  |  | 4.7 |  |  | 5.8 |  |  | 6.5 |  |  | 6.5 |  |  | 6.5 |  |  | 34.1 |
Total | $ | 31.7 |  |  | $ | 36.5 |  |  | $ | 39.2 |  |  | $ | 63.6 |  |  | $ | 62.3 |  |  | $ | 304.0 |  |  | $ | 537.3 |
The total costs incurred under these agreements were as follows:
Eversource | For the Years Ended December 31,
(Millions of Dollars) | 2023 |  | 2022 |  | 2021
Renewable Energy Purchase Contracts | $ | 581.4 |  |  | $ | 678.1 |  |  | $ | 609.2 |
Natural Gas Procurement | 695.8 |  |  | 1,042.8 |  |  | 712.7 |
Purchased Power and Capacity | 69.0 |  |  | 61.6 |  |  | 56.4 |
Peaker CfDs | 20.1 |  |  | 13.4 |  |  | 24.3 |
Transmission Support Commitments | 14.2 |  |  | 12.7 |  |  | 15.4 |
| For the Years Ended December 31,
| 2023 |  | 2022 |  | 2021
(Millions of Dollars) | CL&P |  | NSTAR Electric |  | PSNH |  | CL&P |  | NSTAR Electric |  | PSNH |  | CL&P |  | NSTAR Electric |  | PSNH
Renewable Energy Purchase Contracts | $ | 474.1 |  |  | $ | 60.0 |  |  | $ | 47.3 |  |  | $ | 513.2 |  |  | $ | 90.8 |  |  | $ | 74.1 |  |  | $ | 457.1 |  |  | $ | 84.7 |  |  | $ | 67.4 |
Purchased Power and Capacity | 65.5 |  |  | 2.9 |  |  | 0.6 |  |  | 57.7 |  |  | 3.0 |  |  | 0.9 |  |  | 53.1 |  |  | 3.0 |  |  | 0.3 |
Peaker CfDs | 20.1 |  |  | — |  |  | — |  |  | 13.4 |  |  | — |  |  | — |  |  | 24.3 |  |  | — |  |  | — |
Transmission Support Commitments | 5.6 |  |  | 5.6 |  |  | 3.0 |  |  | 5.0 |  |  | 5.0 |  |  | 2.7 |  |  | 6.1 |  |  | 6.0 |  |  | 3.3 |
Schedule of Guarantor Obligations | The following table summarizes Eversource parent's exposure to guarantees and indemnifications of its subsidiaries and affiliates to external parties, and primarily relates to its offshore wind business:
As of December 31, 2023
Company (Obligor) |  | Description |  | Maximum Exposure (in millions)
North East Offshore, LLC, Sunrise Wind LLC, Revolution Wind, LLC and South Fork Wind, LLC |  | Offshore wind construction-related purchase agreements with third-party contractors (1) |  | $ | 1,941.1 |
Eversource Investment LLC and South Fork Class B Member, LLC |  | Funding and indemnification obligations of South Fork Wind and North East Offshore, LLC (2) |  | 485.9 |
Sunrise Wind LLC |  | OREC capacity production (3) |  | 11.0 |
South Fork Wind, LLC |  | Power Purchase Agreement Security (4) |  | 7.1 |
Eversource Investment LLC |  | Letters of Credit (5) |  | 15.2 |
Eversource TEI LLC |  | South Fork Wind Tax Equity (6) |  | — |
Various |  | Surety bonds (7) |  | 38.8 |
Sunrise Wind LLC |  | Surety bonds (8) |  | 20.5 |
(1) Eversource parent issued guarantees on behalf of its 50 percent-owned affiliates, North East Offshore, LLC (NEO), Sunrise Wind LLC, Revolution Wind, LLC and South Fork Wind, LLC, under which Eversource parent agreed to guarantee each entity’s performance of obligations under certain construction-related purchase agreements with third-party contractors, in an aggregate amount not to exceed $3.03 billion. Eversource parent’s obligations under the guarantees expire upon the earlier of (i) dates ranging between May 2024 and October 2028 and (ii) full performance of the guaranteed obligations. 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 and expiring upon full performance of the guaranteed obligation. (2) Eversource parent issued guarantees on behalf of its wholly-owned subsidiary Eversource Investment LLC (EI), which holds Eversource's investments in offshore wind-related equity method investments, and on behalf of its 50 percent-owned affiliate, South Fork Class B Member, LLC, whereby Eversource parent will guarantee each entity’s performance of certain capital expenditure funding obligations during the construction phases of the South Fork Wind project and NEO’s underlying offshore wind projects. Eversource parent also guaranteed certain indemnification obligations of EI associated with third party credit support for EI’s investment in NEO. These guarantees will not exceed $1.52 billion and 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 amount not to exceed $15.4 million, under the Offshore Wind Renewable Energy Certificate Purchase and Sale Agreement (the Agreement). The Agreement was executed 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. Effective January 1, 2024, the maximum exposure under the guarantee increased from $11.0 million to $15.4 million. (4) Eversource parent issued a guarantee 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 an amount not to exceed $7.1 million, under a Power Purchase Agreement between the Long Island Power Authority and South Fork Wind, LLC (the Agreement). The guarantee expires upon the later of (i) the end of the Agreement term and (ii) full performance of the guaranteed obligations. (5) Eversource parent entered into a guarantee on behalf of EI, under which Eversource parent would guarantee EI's obligations under a letter of credit facility with a financial institution that EI may request in an aggregate amount of up to approximately $25 million. As of December 31, 2023, EI has issued letters of credit on behalf of South Fork Wind, LLC, Sunrise Wind LLC and Revolution Wind, LLC totaling $15.2 million. In January 2024, EI issued two additional letters of credit on behalf of Sunrise Wind LLC totaling $8.0 million. The guarantee will remain in effect until full performance of the guaranteed obligations. (6) Eversource parent issued a guarantee on behalf of its wholly-owned subsidiary, Eversource TEI LLC, whereby Eversource parent will guarantee Eversource TEI LLC’s performance of certain obligations, in an amount not to exceed $528.4 million, primarily in connection with tax equity funding obligations during the construction phase of the South Fork Wind project. Eversource parent’s obligations expire upon the full performance of the guaranteed obligations. (7) Surety bonds expire in 2024. 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. (8) In December 2023, Sunrise Wind LLC issued a surety bond related to future decommissioning obligations of certain onshore transmission assets in the amount of $20.5 million. The surety bond shall remain outstanding until full performance of the obligations.

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- Definition Tabular disclosure of key provisions of an arrangement under which the entity has agreed to purchase goods or services over a period of time greater than one year or the normal operating cycle, if longer, including the item for which expenditures will be made, minimum quantities, milestones, time period and committed amount. + References No definition available. + Details
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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://www.xbrl.org/2009/role/commonPracticeRef -Topic 460 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482425/460-10-50-4 + Details
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