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COMMITMENTS AND CONTINGENCIES (Tables) | 6 Months Ended
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Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract] |
Schedule of Environmental Loss Contingencies by Site | 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 June 30, 2024 |  | As of December 31, 2023
| Number of Sites |  | Reserve (in millions) |  | Number of Sites |  | Reserve (in millions)
Eversource | 66 |  |  | $ | 127.1 |  |  | 65 |  |  | $ | 128.2 |
CL&P | 16 |  |  | 13.4 |  |  | 16 |  |  | 13.8 |
NSTAR Electric | 13 |  |  | 5.9 |  |  | 12 |  |  | 5.4 |
PSNH | 8 |  |  | 6.5 |  |  | 8 |  |  | 7.6 |
Schedule of Estimated Future Annual Costs of Long term Contractual Agreement | The table now includes the long-term commitments of CL&P pertaining to renewable energy purchase contracts that have now commenced significant construction activities.
CL&P |  |  |  |  |  |  |  |  |  |  |  |  |
(Millions of Dollars) | 2024 |  | 2025 |  | 2026 |  | 2027 |  | 2028 |  | Thereafter |  | Total
Renewable Energy | $ | 338.1 |  |  | $ | 651.3 |  |  | $ | 728.7 |  |  | $ | 732.3 |  |  | $ | 734.5 |  |  | $ | 3,798.2 |  |  | $ | 6,983.1 |
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, and primarily relates to its offshore wind business:
As of June 30, 2024
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) (7) |  | $ | 1,418.1 |
Eversource Investment LLC and South Fork Class B Member, LLC |  | Funding and indemnification obligations of South Fork Wind and North East Offshore, LLC (2) |  | 333.9 |
Eversource Investment LLC |  | Letters of Credit (3) (7) |  | 23.2 |
Eversource TEI LLC |  | South Fork Wind Tax Equity (4) |  | 50.0 |
South Fork Wind, LLC |  | Power Purchase Agreement Security (5) |  | 7.1 |
Various Eversource subsidiaries |  | Surety bonds (6) |  | 35.1 |
(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 $2.83 billion. Eversource parent’s obligations under the guarantees expire upon the earlier of (i) dates ranging between October 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 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 June 30, 2024, EI has issued letters of credit on behalf of South Fork Wind, LLC, Sunrise Wind LLC and Revolution Wind, LLC totaling $23.2 million. The guarantee will remain in effect until full performance of the guaranteed obligations. (4) 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 $50.0 million, in connection with any remaining obligations under the LLC agreement. Eversource parent’s obligations expire upon the full performance of the guaranteed obligations. (5) 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. (6) Surety bonds expire in 2024 and 2025. 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. (7) On July 9, 2024, Eversource completed the sale to Ørsted of its 50 percent ownership interest in Sunrise Wind. In connection with the sale, (i) existing Eversource parent guarantees on behalf of Sunrise Wind of obligations under certain construction-related purchase agreements with third-party contractors with a maximum exposure of $557.2 million, and (ii) $17.8 million of letters of credit under a letter of credit facility with a financial institution on behalf of Sunrise Wind, all reflected in the table above as of June 30, 2024, were terminated. In addition, an existing guarantee agreement on behalf of NEO, that also included Sunrise Wind, with a maximum exposure of $1.2 billion ($598.6 million of which is reflected in the above table as of June 30, 2024) was terminated. Concurrent with the termination of that guarantee agreement, Eversource parent entered into a new guarantee agreement on behalf of TurbineCo, LLC (successor in interest to NEO), that also includes Sunrise Wind, with a maximum exposure of $523.8 million. However, Ørsted has agreed to indemnify Eversource parent for all claims under that new guarantee agreement related to the performance of Sunrise Wind.

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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 environmental loss contingencies by individual site. Does not include loss contingencies that are not environmental in nature. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 450 -SubTopic 20 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 5.Y.Q1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480102/450-20-S99-1 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 450 -SubTopic 20 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 5.Y.Q2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480102/450-20-S99-1 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 410 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Subparagraph (d)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481931/410-30-50-10 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 410 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Subparagraph (d)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481931/410-30-50-10 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 410 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Subparagraph (d)(3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481931/410-30-50-10 + 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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