Eversource 2000 Annual Report Download

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evolution
Northeast Utilities
2000 SUMMARY ANNUAL REPORT

Table of contents

  • Page 1
    N o r t h e a s t 2 0 0 0 S U M M A R Y U t i l i t i e s A N N U A L R E P O R T evolution

  • Page 2
    ... Percentage Increase/(Decrease)...Customers (Average) Gas Customers (Average) Net Utility Plant (a) Percentage greater than 100. At right is Michael G. Morris, chairman, president and chief executive officer, in front of NU's corporate headquarters in Berlin, Connecticut with a 1953 CL&P line truck...

  • Page 3
    ... on your NU investment of approximately 20 percent, once dividends are included. This followed total re t u rn so f roughly 35 percent in 1998 and 30 percent in 1999. Our competitive energy subsidiaries ended the year well in the black. We agreed to sell the Millstone Station nuclear power plant for...

  • Page 4
    ...of hydroelectric generating assets in Massachusetts, NU reported a net loss of $28.6 million, or 20 cents per share, for the year. There were multiple rounds of credit rating upgrades for Northeast Utilities and its operating companies. NU's unsecured debt is now rated investment grade for the first...

  • Page 5
    ..., the Connecticut Department of Public Utility Control announced an agreement for the 0 sale of the three-plant Millstone Station to Dominion Resources, Inc. of Vi rg i n i af o r$ 1 . 3b i l l i o n ,a 99 00 r ecord price for the sale of a nuclear power facility in the country. NU received all...

  • Page 6
    ... million in 1999 and $195.7 million in 1998. NU recorded record revenues of $5.9 billion for 2000, primarily due to increased sales in its competitive energy subsidiaries, offset by rate decreases in its regulated subsidiaries. MERGERS In 2000, NU and Consolidated Edison, Inc. (Con Edison) received...

  • Page 7
    ...As a result of industry restructuring, CL&P and Western Massachusetts Electric Company (WMECO) stopped supplying power directly to customers in 2000. Instead, CL&P and WMECO became energy delivery companies, delivering electricity to customers that is produced by other companies and sometimes bought...

  • Page 8
    ... OF OPERATIONS NU's revenues increased by $1.4 billion, or 31 percent, in 2000, primarily due to higher revenues from the competitive energy subsidiaries, the acquisition of Yankee and higher wholesale revenues. Fuel, purchased and net interchange power expense increased in 2000, primarily due...

  • Page 9
    ...annual report on Form 10-K filed with the Securities and Exchange Commission. The consolidated financial statements of Northeast Utilities and subsidiaries were prepared by the company in accordance with accounting... Northeast Utilities (a Massachusetts trust) and subsidiaries as of December 31, 2000 ...

  • Page 10
    ... the Years Ended December 31, (Thousands of Dollars, except share information) 2000 $5,876,620 1999 $4,471,251 1998 $3,767,714 Operating revenues OPERATING EXPENSES Fuel, purchased and net interchange power Other operation and maintenance Depreciation and amortization Federal income taxes and...

  • Page 11
    ...) 2000 1999 ASSETS Net utility plant Cash and cash equivalents Accounts receivable and unbilled revenues, net Fuel, materials and supplies, at average cost Other current assets Total current assets Total other property and investments Regulatory assets Goodwill and other purchased intangible...

  • Page 12
    ...nuclear decommissioning trusts Net proceeds from the sale of utility plant Payment for the purchase of Yankee, net of cash acquired Other investing ...stock Cash dividends on preferred stock Cash dividends on common stock Net cash flows provided by/(used in) financing activities Net (decrease)/increase...

  • Page 13
    ...Years Ended December 31, 2000 1999 1998 1997 1996 REVENUES: (Thousands) Residential Commercial Industrial Other utilities Streetlighting and railroads Other ... ANNUAL USE PER RESIDENTIAL CUSTOMER (kWh) AVERAGE ANNUAL BILL PER RESIDENTIAL CUSTOMER AVERAGE REVENUE PER KWH: Residential Commercial...

  • Page 14
    ... Vice President-Human Resources and Organizational Development Keith R. Marvin Vice President-Customer Services, PSNH John J. Roman Vice President-Customer Service, HEC David S. Dayton Attorney John F. Turner Vice President and Chief Information Officer David R. McHale Vice President and...

  • Page 15
    ... Bank and Trust Company Corporate Stock Transfer Department P.O. Box 8200 Boston, Massachusetts 02266-8200 Northeast Generation Services Company (generation services) Select Energy, Inc. (energy services) SUPPORT SUBSIDIARIES North Atlantic Energy Service Corporation (Seabrook nuclear operations...

  • Page 16
    Northeast Utilities P.O. Box 270 Hartford, Connecticut 06141-0270 1 800.286.5000 www.nu.com