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REGULATORY ACCOUNTING (Tables)

3 Months Ended

Mar. 31, 2025

Regulated Operations [Abstract]

Components of Regulatory Assets

The components of regulatory assets were as follows:

			As of March 31, 2025																								As of December 31, 2024
(Millions of Dollars)			Eversource						CL&P						NSTAR Electric						PSNH						Eversource						CL&P						NSTAR Electric						PSNH
Storm Costs, Net			$	2,034.1					$	986.5					$	579.9					$	467.7					$	2,039.4					$	971.1					$	609.8					$	458.5
Regulatory Tracking Mechanisms			1,416.0						311.3						622.8						147.6						1,781.6						507.7						650.0						162.8
Income Taxes, Net			979.1						525.0						149.5						20.5						968.4						521.0						145.4						20.7
Benefit Costs			957.9						167.5						290.4						65.0						967.4						168.8						293.6						65.6
Securitized Stranded Costs			338.5						—						—						338.5						349.3						—						—						349.3
Goodwill-related			243.0						—						208.6						—						247.2						—						212.3						—
Asset Retirement Obligations			153.2						42.0						79.8						5.2						150.2						41.2						78.3						5.1
Derivative Liabilities			41.8						41.8						—						—						57.2						57.2						—						—
Other Regulatory Assets			527.7						51.4						111.9						3.5						510.0						58.5						117.7						3.7
Total Regulatory Assets			6,691.3						2,125.5						2,042.9						1,048.0						7,070.7						2,325.5						2,107.1						1,065.7
Less:  Current Portion			1,793.3						417.3						874.1						153.6						2,189.7						638.5						902.8						173.3
Total Long-Term Regulatory Assets			$	4,898.0					$	1,708.2					$	1,168.8					$	894.4					$	4,881.0					$	1,687.0					$	1,204.3					$	892.4

Components of Regulatory Liabilities

The components of regulatory liabilities were as follows:

			As of March 31, 2025																								As of December 31, 2024
(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			$	2,432.4					$	954.6					$	872.0					$	328.6					$	2,442.7					$	956.6					$	877.6					$	330.6
Regulatory Tracking Mechanisms			840.5						221.8						475.0						96.1						702.4						180.3						413.6						114.4
Cost of Removal			711.0						226.8						457.6						26.6						684.1						212.8						451.3						20.1
Deferred Portion of Non-Service Income    Components of Pension, SERP and PBOP			448.1						64.5						222.3						44.1						427.1						61.6						211.6						42.6
AFUDC - Transmission			160.3						66.6						93.7						—						154.8						65.1						89.7						—
Benefit Costs			63.4						4.7						17.1						4.0						69.3						4.5						21.4						3.9
Other Regulatory Liabilities			187.1						42.8						14.1						4.6						184.5						39.1						14.2						4.5
Total Regulatory Liabilities			4,842.8						1,581.8						2,151.8						504.0						4,664.9						1,520.0						2,079.4						516.1
Less:  Current Portion			774.5						169.1						497.4						103.1						632.3						124.1						436.3						121.1
Total Long-Term Regulatory Liabilities			$	4,068.3					$	1,412.7					$	1,654.4					$	400.9					$	4,032.6					$	1,395.9					$	1,643.1					$	395.0

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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
-Paragraph 1
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