Eversource Energy (ES) Wolfe Research Utilities, Midstream & Clean Energy Conference 2026-Virtual summary

Business overview and recent developments

• Serves a diverse, stable customer base across New England, including hospitals, universities, and defense contractors.

• Exited the wind business; final wind turbine installed with commercial operation expected by year-end.

• Sold water business for $2.4 billion, bringing in $1.7 billion in cash and resulting in credit rating upgrades.

• Secured $960 million in storm cost recovery in Connecticut and expects further cash inflows from New Hampshire.

• Five-year capital plan totals $26.5 billion, with new projects and opportunities being added.

Regulatory and political environment

• Connecticut's regulatory commission now consists of five experienced professionals, improving stability and engagement.

• Productive relationships with regulators and state leadership in Connecticut and Massachusetts, with collaboration on customer rate reductions.

• Political noise expected to subside after upcoming elections, reducing external pressures on rate cases.

• Recent commission actions have resulted in favorable outcomes, including high ROEs and significant storm cost recovery.

• All five commissioners are actively engaged, increasing confidence in fair regulatory treatment.

Financial and operational outlook

• Securitization plan filed for storm cost recovery, with over $1 billion in cash expected.

• Won a $2.2 billion transmission project with Iberdrola; $700 million share to be added to capital plan.

• Advanced Metering Infrastructure (AMI) in Connecticut represents a $1 billion opportunity, with plans for timely cost recovery.

• Additional investments in substations and clean energy hubs are planned, with significant growth in electrification.

• Federal grant secured for a $100 million project with Dartmouth College, highlighting success in leveraging external funding.