XML 99 R71.htm IDEA: XBRL DOCUMENT v3.25.0.1

COMMITMENTS AND CONTINGENCIES (Tables)

12 Months Ended

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.

X

- References

No definition available.

+ Details

Name:	us-gaap_CommitmentsAndContingenciesDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_LongTermPurchaseCommitmentTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_ScheduleOfEnvironmentalLossContingenciesBySiteTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_ScheduleOfGuaranteeObligationsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration