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2
NORTHEAST UTILITIES AND SUBSIDIARIES
THE CONNECTICUT LIGHT AND POWER COMPANY
NSTAR ELECTRIC COMPANY AND SUBSIDIARY
PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE AND SUBSIDIARY
WESTERN MASSACHUSETTS ELECTRIC COMPANY
PART I
Item 1. Business
Please refer to the Glossary of Terms for definitions of defined terms and abbreviations used in this Annual Report on Form 10-K.
NU, headquartered in Boston, Massachusetts and Hartford, Connecticut, is a public utility holding company subject to regulation by
FERC under the Public Utility Holding Company Act of 2005. We are engaged primarily in the energy delivery business through the
following wholly owned utility subsidiaries:
● The Connecticut Light and Power Company (CL&P), a regulated electric utility that serves residential, commercial and
industrial customers in parts of Connecticut;
● NSTAR Electric Company (NSTAR Electric), a regulated electric utility that serves residential, commercial and industrial
customers in parts of Massachusetts;
● Public Service Company of New Hampshire (PSNH), a regulated electric utility that serves residential, commercial and
industrial customers in parts of New Hampshire and owns generation assets used to serve customers;
● Western Massachusetts Electric Company (WMECO), a regulated electric utility that serves residential, commercial and
industrial customers in parts of western Massachusetts and owns solar generating assets;
● NSTAR Gas Company (NSTAR Gas), a regulated natural gas utility that serves residential, commercial and industrial
customers in parts of Massachusetts; and
● Yankee Gas Services Company (Yankee Gas), a regulated natural gas utility that serves residential, commercial and industrial
customers in parts of Connecticut.
NU also owns certain unregulated businesses through its wholly owned subsidiary, NU Enterprises, which is included in its Parent and
other companies’ results of operations.
NU, CL&P, NSTAR Electric, PSNH and WMECO each report their financial results separately. We also include information in this
report on a segment basis for NU. NU recognizes three reportable segments, which are electric distribution, electric transmission and
natural gas distribution. NU’s electric distribution segment includes the generation businesses of PSNH and WMECO. These three
segments represented substantially all of NU's total consolidated revenues for the years ended December 31, 2013 and 2012. CL&P,
NSTAR Electric, PSNH and WMECO do not report separate business segments.
MERGER WITH NSTAR
On April 10, 2012, NU completed its merger with NSTAR (Merger). Pursuant to the terms and conditions of the Agreement and Plan of
Merger, as amended, NSTAR and its subsidiaries became wholly-owned subsidiaries of NU. NU’s consolidated financial statements
include the results of operations of NSTAR and its subsidiaries (NSTAR) for the period after April 10, 2012.
ELECTRIC DISTRIBUTION SEGMENT
General
NU’s electric distribution segment consists of the distribution businesses of CL&P, NSTAR Electric, PSNH and WMECO, which are
engaged in the distribution of electricity to retail customers in Connecticut, eastern Massachusetts, New Hampshire and western
Massachusetts, respectively, plus the regulated electric generation businesses of PSNH and WMECO.