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COMMITMENTS AND CONTINGENCIES (Tables) | 12 Months Ended
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Dec. 31, 2024
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, 2023 | $ | 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 |
Additions | 11.0 |  |  | 0.8 |  |  | 1.9 |  |  | 0.2 |
Payments/Reductions | (11.2) |  |  | (1.2) |  |  | (0.7) |  |  | (1.5) |
Balance as of December 31, 2024 | $ | 128.0 |  |  | $ | 13.4 |  |  | $ | 6.6 |  |  | $ | 6.3 |
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
2024 | 65 |  | 15 |  | 14 |  | 8
2023 | 65 |  | 16 |  | 12 |  | 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, 2024 are as follows:
Eversource |  |  |  |  |  |  |  |  |  |  |  |  |
(Millions of Dollars) | 2025 |  | 2026 |  | 2027 |  | 2028 |  | 2029 |  | Thereafter |  | Total
Renewable Energy Purchase Contracts | $ | 771.8 |  |  | $ | 865.2 |  |  | $ | 919.9 |  |  | $ | 918.0 |  |  | $ | 785.5 |  |  | $ | 6,289.9 |  |  | $ | 10,550.3 |
Natural Gas Procurement | 532.6 |  |  | 486.1 |  |  | 364.6 |  |  | 308.1 |  |  | 294.9 |  |  | 1,004.4 |  |  | 2,990.7 |
Capacity and Purchased Power | 75.2 |  |  | 2.9 |  |  | 2.7 |  |  | 2.7 |  |  | 2.3 |  |  | 2.3 |  |  | 88.1 |
Peaker CfDs | 28.3 |  |  | 27.7 |  |  | 23.1 |  |  | 23.3 |  |  | 24.1 |  |  | 84.6 |  |  | 211.1 |
Transmission Support Commitments | 17.1 |  |  | 18.8 |  |  | 20.0 |  |  | 20.9 |  |  | 21.8 |  |  | 22.6 |  |  | 121.2 |
Total | $ | 1,425.0 |  |  | $ | 1,400.7 |  |  | $ | 1,330.3 |  |  | $ | 1,273.0 |  |  | $ | 1,128.6 |  |  | $ | 7,403.8 |  |  | $ | 13,961.4 |
CL&P |  |  |  |  |  |  |  |  |  |  |  |  |
(Millions of Dollars) | 2025 |  | 2026 |  | 2027 |  | 2028 |  | 2029 |  | Thereafter |  | Total
Renewable Energy Purchase Contracts | $ | 651.0 |  |  | $ | 671.9 |  |  | $ | 723.7 |  |  | $ | 724.5 |  |  | $ | 588.4 |  |  | $ | 3,473.6 |  |  | $ | 6,833.1 |
Capacity | 72.4 |  |  | 0.1 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 72.5 |
Peaker CfDs | 28.3 |  |  | 27.7 |  |  | 23.1 |  |  | 23.3 |  |  | 24.1 |  |  | 84.6 |  |  | 211.1 |
Transmission Support Commitments | 6.8 |  |  | 7.4 |  |  | 7.9 |  |  | 8.3 |  |  | 8.6 |  |  | 8.9 |  |  | 47.9 |
Total | $ | 758.5 |  |  | $ | 707.1 |  |  | $ | 754.7 |  |  | $ | 756.1 |  |  | $ | 621.1 |  |  | $ | 3,567.1 |  |  | $ | 7,164.6 |
NSTAR Electric |  |  |  |  |  |  |  |  |  |  |  |  |
(Millions of Dollars) | 2025 |  | 2026 |  | 2027 |  | 2028 |  | 2029 |  | Thereafter |  | Total
Renewable Energy Purchase Contracts | $ | 120.8 |  |  | $ | 193.3 |  |  | $ | 196.2 |  |  | $ | 193.5 |  |  | $ | 197.1 |  |  | $ | 2,816.3 |  |  | $ | 3,717.2 |
Purchased Power | 2.8 |  |  | 2.8 |  |  | 2.7 |  |  | 2.7 |  |  | 2.3 |  |  | 2.3 |  |  | 15.6 |
Transmission Support Commitments | 6.7 |  |  | 7.4 |  |  | 7.9 |  |  | 8.2 |  |  | 8.6 |  |  | 8.9 |  |  | 47.7 |
Total | $ | 130.3 |  |  | $ | 203.5 |  |  | $ | 206.8 |  |  | $ | 204.4 |  |  | $ | 208.0 |  |  | $ | 2,827.5 |  |  | $ | 3,780.5 |
PSNH |  |  |  |  |  |  |  |  |  |  |  |  |
(Millions of Dollars) | 2025 |  | 2026 |  | 2027 |  | 2028 |  | 2029 |  | Thereafter |  | Total
Transmission Support Commitments | $ | 3.6 |  |  | $ | 4.0 |  |  | $ | 4.2 |  |  | $ | 4.4 |  |  | $ | 4.6 |  |  | $ | 4.8 |  |  | $ | 25.6 |
The total costs incurred under these agreements were as follows:
Eversource | For the Years Ended December 31,
(Millions of Dollars) | 2024 |  | 2023 |  | 2022
Renewable Energy Purchase Contracts | $ | 591.4 |  |  | $ | 581.4 |  |  | $ | 678.1 |
Natural Gas Procurement | 695.0 |  |  | 695.8 |  |  | 1,042.8 |
Capacity and Purchased Power | 70.5 |  |  | 69.0 |  |  | 61.6 |
Peaker CfDs | 23.1 |  |  | 20.1 |  |  | 13.4 |
Transmission Support Commitments | 16.7 |  |  | 14.2 |  |  | 12.7 |
| For the Years Ended December 31,
| 2024 |  | 2023 |  | 2022
(Millions of Dollars) | CL&P |  | NSTAR Electric |  | PSNH |  | CL&P |  | NSTAR Electric |  | PSNH |  | CL&P |  | NSTAR Electric |  | PSNH
Renewable Energy Purchase Contracts | $ | 529.0 |  |  | $ | 62.4 |  |  | $ | — |  |  | $ | 474.1 |  |  | $ | 60.0 |  |  | $ | 47.3 |  |  | $ | 513.2 |  |  | $ | 90.8 |  |  | $ | 74.1 |
Capacity and Purchased Power | 67.6 |  |  | 2.9 |  |  | — |  |  | 65.5 |  |  | 2.9 |  |  | 0.6 |  |  | 57.7 |  |  | 3.0 |  |  | 0.9 |
Peaker CfDs | 23.1 |  |  | — |  |  | — |  |  | 20.1 |  |  | — |  |  | — |  |  | 13.4 |  |  | — |  |  | — |
Transmission Support Commitments | 6.6 |  |  | 6.6 |  |  | 3.5 |  |  | 5.6 |  |  | 5.6 |  |  | 3.0 |  |  | 5.0 |  |  | 5.0 |  |  | 2.7 |
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 previously-owned offshore wind investments:
As of December 31, 2024
Company (Obligor) |  | Description |  | Maximum Exposure (in millions)
Revolution Wind, LLC and TurbineCo, LLC |  | Offshore wind construction-related purchase agreements with third-party contractors (1) |  | $ | 357.0 |
Eversource Investment LLC, Eversource Investment Service Company LLC and South Fork Class B Member, LLC |  | Offshore wind funding and indemnification obligations (2) |  | 277.5 |
Eversource Investment LLC |  | Letters of Credit (3) |  | 5.3 |
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) |  | 30.7 |
(1) Eversource parent issued guarantees on behalf of its previously 50 percent-owned affiliate, Revolution Wind, LLC, and on behalf of TurbineCo, LLC (successor in interest to North East Offshore, LLC (NEO)), 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 $935.6 million. Eversource parent’s obligations under the guarantees expire upon the earlier of (i) dates ranging between December 2024 and November 2027 and (ii) full performance of the guaranteed obligations. (2) Eversource parent issued guarantees on behalf of its wholly-owned subsidiary Eversource Investment LLC (EI), which held Eversource's previous investments in offshore wind-related equity method investments until sale, and on behalf of its previously 50 percent-owned affiliate, South Fork Class B Member, LLC, whereby Eversource parent will guarantee each entity’s performance of certain funding obligations of the South Fork and Revolution Wind projects. Eversource parent also guaranteed certain indemnification obligations of EI associated with third party credit support for EI’s investment in NEO. On September 30, 2024, Eversource parent issued a guaranty on behalf of its wholly-owned subsidiary, Eversource Investment Service Company LLC, whereby Eversource parent will guarantee Eversource Investment Service Company LLC’s performance of certain indemnification obligations during the onshore construction phase of the Revolution Wind project, in an amount not to exceed $100.0 million. These guarantees will not exceed $1.62 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 December 31, 2024, EI has issued two letters of credit on behalf of South Fork Wind, LLC and one letter of credit on behalf of Revolution Wind, LLC totaling $5.3 million. The guarantee will remain in effect until full performance of the guaranteed obligations. On January 24, 2025, the $1.0 million letter of credit issued on behalf of Revolution Wind, LLC was terminated. (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 previously 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, January 2044, with the option to extend to January 2049 and (ii) full performance of the guaranteed obligations. (6) Surety bonds expire in 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.

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