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REGULATORY ACCOUNTING (Tables)

12 Months Ended

Dec. 31, 2024

Regulated Operations [Abstract]

Components of Regulatory Assets

The components of regulatory assets were as follows:

			As of December 31,
			2024																								2023
(Millions of Dollars)			Eversource						CL&P						NSTAR Electric						PSNH						Eversource						CL&P						NSTAR Electric						PSNH
Storm Costs, Net			$	2,039.4					$	971.1					$	609.8					$	458.5					$	1,785.9					$	896.6					$	609.1					$	280.2
Regulatory Tracking Mechanisms			1,781.6						507.7						650.0						162.8						1,319.2						354.5						482.9						182.2
Benefit Costs			967.4						168.8						293.6						65.6						1,117.3						197.4						336.7						79.3
Income Taxes, Net			968.4						521.0						145.4						20.7						912.4						512.6						128.6						16.4
Securitized Stranded Costs			349.3						—						—						349.3						392.5						—						—						392.5
Goodwill-related			247.2						—						212.3						—						264.1						—						226.7						—
Asset Retirement Obligations			150.2						41.2						78.3						5.1						137.9						38.5						72.3						4.7
Derivative Liabilities			57.2						57.2						—						—						120.9						120.9						—						—
Other Regulatory Assets			510.0						58.5						117.7						3.7						339.0						22.7						101.6						8.0
Total Regulatory Assets			7,070.7						2,325.5						2,107.1						1,065.7						6,389.2						2,143.2						1,957.9						963.3
Less:  Current Portion			2,189.7						638.5						902.8						173.3						1,674.2						480.4						676.1						189.5
Total Long-Term Regulatory Assets			$	4,881.0					$	1,687.0					$	1,204.3					$	892.4					$	4,715.0					$	1,662.8					$	1,281.8					$	773.8

Components of Regulatory Liabilities

The components of regulatory liabilities were as follows:

			As of December 31,
			2024																								2023
(Millions of Dollars)			Eversource						CL&P						NSTAR Electric						PSNH						Eversource						CL&P						NSTAR Electric						PSNH
EDIT due to Tax Cuts and Jobs Act of 2017			$	2,442.7					$	956.6					$	877.6					$	330.6					$	2,548.6					$	969.2					$	905.1					$	339.3
Regulatory Tracking Mechanisms			702.4						180.3						413.6						114.4						668.3						154.0						347.2						114.4
Cost of Removal			684.1						212.8						451.3						20.1						666.6						157.9						420.9						16.2
Deferred Portion of Non-Service Income    Components of Pension, SERP and PBOP			427.1						61.6						211.6						42.6						354.0						49.9						175.9						36.6
AFUDC - Transmission			154.8						65.1						89.7						—						124.3						56.1						68.2						—
Benefit Costs			69.3						4.5						21.4						3.9						51.0						0.6						22.2						—
Other Regulatory Liabilities			184.5						39.1						14.2						4.5						201.9						30.4						13.9						4.6
Total Regulatory Liabilities			4,664.9						1,520.0						2,079.4						516.1						4,614.7						1,418.1						1,953.4						511.1
Less:  Current Portion			632.3						124.1						436.3						121.1						591.8						102.2						368.1						117.5
Total Long-Term Regulatory Liabilities			$	4,032.6					$	1,395.9					$	1,643.1					$	395.0					$	4,022.9					$	1,315.9					$	1,585.3					$	393.6

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- Definition

Tabular disclosure of assets that are created when regulatory agencies permit public utilities to defer certain costs included in rate-setting to the balance sheet.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 980
-SubTopic 340
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478742/980-340-50-1

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-Name Accounting Standards Codification
-Topic 980
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Tabular disclosure of regulatory liabilities. Detailed information about liabilities that result from rate actions of a regulator. Rate actions of a regulator can impose a liability on a regulated enterprise resulting in a regulatory liability.

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-Topic 980
-SubTopic 405
-Name Accounting Standards Codification
-Section 25
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477571/980-405-25-1

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