Eversource 2007 Annual Report Download

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> POWERING THE FUTURE
NORTHEAST UTILITIES 2007 ANNUAL REPORT

Table of contents

  • Page 1
    NORTHEAST UTILITIES 2007 ANNUAL REPORT > POWERING THE FUTURE

  • Page 2
    ..., a gas furnace in Connecticut takes the chill out of the air as the local firehouse prepares a Saturday morning breakfast for the COMMUNITY. And with the first rays of the sun streaming through the sky in Massachusetts, solar panels supported by Northeast Utilities (NU)-sponsored research begin to...

  • Page 3
    :VX]bdgc^c\gZegZhZcihVFUTURE OF PROMISE [dgi]ZbdgZi]Vc'b^aa^dcXjhidbZghlZhZgkZZkZgnYVn#  > THIS FUTURE IS OURS TO DEFINE &

  • Page 4
    ... hnhiZbhl^aaZcVWaZjhidXdci^cjZdjgZ[[dgihidZchjgZ Vedh^i^kZXjhidbZgZmeZg^ZcXZl^i]ZkZgnXdciVXi# POWERING THE FUTURE INFRASTRUCTURE INVESTMENT LEADS THE WAY 9^hX^ea^cZYZmZXji^dcd[djgYVn"id"YVndeZgVi^dchVcY VY^a^\Zci[dXjhdcdjgWjh^cZhheaVclZgZWdi]Xg^i^XVa iddjg...

  • Page 5
    ...jaViZYeZV`^c\\ZcZgVi^dcÃ...i]ZÃ'ghihjX]deedgijc^in h^cXZYZgZ\jaVi^dc# LEADING WITH ENERGY WHERE WE LIVE AND WORK SUPPORTING OUR COMMUNITIES CJZbeadnZZh]Zaeegdk^YZgZa^VWaZ... VcYAZVYZgh]^e# H^cXZgZan! 8]VgaZhL#H]^kZgn Chairman, President and Chief Executive Officer BVgX]*!'%%- (

  • Page 6
    ... 175-foot-tall steel monopole in Wallingford, Connecticut as part of a $1.4 billion transmission line project running from Middletown to Norwalk, Connecticut. Using the helicopter reduces the impact of line construction on the environment and residents living near the transmission right of way. )

  • Page 7
    > RELIABILITY: PROVIDING ENERGY WHEN YOU NEED IT L]Vi^hgZa^VWaZZcZg\n4;gdbVXjhidbZgÉheZgheZXi^kZ! ^i^higjhi^c\i]Vii]Za^\]il^aaijgcdcl]ZcndjÃ"^ei]Z hl^iX]!dgi]Vii]ZVaVgb...

  • Page 8
    > SUPPORTING OUR COMMUNITIES A STRATEGIC BUSINESS INVESTMENT I]ZXdbbjc^i^ZhlZhZgkZVgZbdgZi]VcdjgeaVXZhd[ldg`Ã... i]ZnVgZl]ZgZlZa^kZ#I]ZhVbZCJZbeadnZZhl]d`ZZe i]Za^\]ihdcYjg^c\i]Z]Vgh]Zhid[l^ciZghVcYi]gdj\] Yg^k^c\gV^chidgbh^ci]ZhjbbZghVgZVahd\ddYcZ^\]Wdgh! ...

  • Page 9
    NU's $1 million grant to the Connecticut Science Center will allow students to develop their interest in science as they become our future leaders. ,

  • Page 10
    ... have the potential to offer another important advantage: a local renewable fuel source for electricity generation. As a founder and key participant in The Wood Energy Advisory Roundtable, PSNH works to ensure that the state's forests are protected while fulfilling this important new purpose. -

  • Page 11
    > WORKING TOWARD A SUSTAINABLE FUTURE DjgXdbb^ibZciidhjeedgi^c\i]ZgZ\^dcÉh\gdli]gZfj^gZh VcZfjVaanhigdc\Xdbb^ibZciid^beaZbZci^c\hjhiV^cVWaZ hdaji^dchi]VibZZii]ZZcZg\ncZZYhd[idYVnl]^aZegdiZXi^c\ kVajVWaZgZhdjgXZh[dgidbdggdl#6X]^Zk^c\i]^hWVaVcXZ gZfj^gZhVc^cXgZVhZY...

  • Page 12
    FINANCIAL HIGHLIGHTS SELECTED FINANCIAL DATA I]djhVcYhd[YdaaVgh!ZmXZeih]VgZ^c[dgbVi^dcVcYhiVi^hi^XVaYViV >  DeZgVi^c\GZkZcjZh DeZgVi^c\>cXdbZ CZi>cXdbZ ;jaan9^ajiZY:Vgc^c\heZg8dbbdcH]VgZ ;jaan9^ajiZY8dbbdcH]VgZhDjihiVcY^c\ LZ^\]iZY6kZgV\Z 9^k^YZcYh...

  • Page 13
    ...gZedgi^c\lZgZZ[[ZXi^kZVhd[9ZXZbWZg(&!'%%,# (. REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM I]ZgZedgid[9Zad^iiZIdjX]ZAAE ...Zch^kZ^cXdbZ[dg'%%,lVh'*&#(b^aa^dc# )( > 2007 FINANCIAL INFORMATION CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY >c'%%,!i]ZXdbeVcn...

  • Page 14
    MANAGEMENT'S DISCUSSION AND ANALYSIS I]Z[daadl^c\Y^hXjhh^dcVcYVcVanh^hh]djaYWZgZVY^cXdc_jcXi^dcl^i] djgXdchda^YViZY[^cVcX^VahiViZbZcihVcYi]ZgZaViZYcdiZh^cXajYZY^c i]^hVccjVagZedgi#GZ[ZgZcXZh^ci]^hZm]^W^iidÆCJÇdgÆi]ZXdbeVcnÇ VgZidCdgi]ZVhiJi^a^i^Zh!VcYi]Z...

  • Page 15
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  • Page 16
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  • Page 17
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  • Page 21
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  • Page 22
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  • Page 26
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  • Page 27
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  • Page 31
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  • Page 32
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  • Page 33
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  • Page 34
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  • Page 35
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  • Page 36
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  • Page 37
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  • Page 38
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  • Page 39
    gZXdkZgnd[igVch^i^dcX]Vg\Zh,%b^aa^dc#I]ZLB:8DYZXgZVhZ ^heg^bVg^anYjZidi]ZYZ[ZggVad[igVchb^hh^dcXdhih&-b^aa^dc! bV^canVhVgZhjaid[]^\]ZgGBGXdhih!VcYi]ZYZ[ZggVad[igVch^i^dc Xdhih*b^aa^dcVhVgZhjaid[adlZgigVch^i^dcgZkZcjZhVcY]^\]Zg igVch^i^dcXdhih# ...

  • Page 40
    ... INTERNAL CONTROLS OVER FINANCIAL REPORTING BVcV\ZbZci^hgZhedch^WaZ[dgi]ZegZeVgVi^dc!^ciZ\g^in!VcY[V^g egZhZciVi^dcd[i]ZVXXdbeVcn^c\Xdchda^YViZY[^cVcX^VahiViZbZcihd[ Cdgi]ZVhiJi^a^i^ZhVcYhjWh^Y^Vg^...

  • Page 41
    REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM Idi]Z7dVgYd[IgjhiZZhVcYH]VgZ]daYZghd[Cdgi]ZVhiJi^a^i^Zh/ LZ]VkZVjY^iZYi]ZVXXdbeVcn^c\Xdchda^YViZYWVaVcXZh]ZZihVcY Xdchda^YViZYhiViZbZcihd[XVe^...

  • Page 42
    CONSOLIDATED BALANCE SHEETS  I]djhVcYhd[9daaVgh 6hhZih  8jggZci6hhZih/  8Vh]VcYXVh]Zfj^kVaZcih  HeZX^VaYZedh^ih  >ckZhibZcih^chZXjg^i^oVWaZVhhZih  GZXZ^kVWaZh!aZhhegdk^h^dc[dgjcXdaaZXi^WaZ   VXXdjcihd['*!*'.^c'%%,VcY''!(+.^c'%%+  JcW^aaZYgZkZcjZh  IVmZh...

  • Page 43
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  • Page 44
    CONSOLIDATED STATEMENTS OF INCOME/(LOSS)  I]djhVcYhd[9daaVgh!ZmXZeih]VgZ^c[dgbVi^dc DeZgVi^c\GZkZcjZh DeZgVi^c\:meZchZh/  DeZgVi^dcÄ   ;jZa!ejgX]VhZYVcYcZi^ciZgX]Vc\ZedlZg   Di]Zg   GZhigjXijg^c\VcY^beV^gbZciX]Vg\Zh  BV^ciZcVcXZ  9ZegZX^Vi^dc  6bdgi^oVi^dc  ...

  • Page 45
    CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY   I]djhVcYhd[9daaVgh! ZmXZeih]VgZ^c[dgbVi^dc 7VaVcXZVhd[  ?VcjVgn&!'%%*                   8dbbdcH]VgZh H]VgZh 6bdjci &'.!%()!))'  8Ve^iVa Hjgeajh! EV^Y>c  9Z[ZggZY 8dcig^Wji^dc EaVc·:HDE   GZiV^cZY...

  • Page 46
    CONSOLIDATED STATEMENTS OF CASH FLOWS  I]djhVcYhd[9daaVgh  DeZgVi^c\6Xi^k^i^Zh/  CZi^cXdbZ$adhh  6Y_jhibZcihidgZXdcX^aZidcZiXVh][adlhegdk^YZYWndeZgVi^c\VXi^k^i^Zh/   EgZ"iVm\V^ch$adhhZh[gdbhVaZ$Y^hedh^i^dcd[Y^hXdci^cjZYdeZgVi^dch   GZhigjXijg^c\VcY^beV^gbZci...

  • Page 47
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  • Page 48
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    CONSOLIDATED STATEMENTS OF QUARTERLY FINANCIAL DATA (UNAUDITED)  I]djhVcYhd[9daaVgh!ZmXZeieZgh]VgZ^c[dgbVi^dc BVgX](&! FjVgiZg:cYZYVW ?jcZ(%! HZeiZbWZg(%! 9ZXZbWZg(&! '%%, DeZgVi^c\GZkZcjZh DeZgVi^c\>cXdbZ >cXdbZ[gdb8dci^cj^c\DeZgVi^dch Adhh$>cXdbZ[gdb9^hXdci^...

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    SELECTED CONSOLIDATED FINANCIAL DATA (UNAUDITED) I]djhVcYhd[9daaVgh!ZmXZeieZgXZciV\ZhVcYh]VgZ^c[dgbVi^dc '%%, ,!''.!.)* &&!*-&!-'' +!++,!.'% &)!,)( *!-''!''+ ')*!-.+ *-, ')+!)-( Ã... '%%+ +!')'!&-+ &&!(%(!'(+ *!-,.!+.& &)!)'* +!-,,!+-, ...

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    SELECTED CONSOLIDATED SALES STATISTICS (UNAUDITED)  '%%, '%%+ '%%* '%%) '%%( GZkZcjZh/I]djhVcYh GZ\jaViZYXdbeVc^Zh/ GZh^YZci^Va 8dbbZgX^Va >cYjhig^Va L]daZhVaZ HigZZia^\]i^c\VcYGV^agdVYh B^hXZaaVcZdjhVcYZa^b^cVi^dch IdiVa:aZXig^X IdiVa

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    ... President - Transmission Projects, Engineering and Maintenance, CL&P, PSNH and WMECO ?d]c;#HldeZ Attorney EZiZg?#8aVg`Z Vice President - Shared Services ?Z[[gZnG#@di`^c Vice President - Investor Relations Cdgi]ZVhiJi^a^i^ZhD[[^XZgh 8]VgaZhL#H]^kZgn Chairman of the Board, President...

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    ... Assistant Secretary Northeast Utilities P.O. Box 270 Hartford, Connecticut 06141-0270 Transfer Agent and Registrar The Bank of New York Shareowner Services 480 Washington Boulevard Jersey City, NJ 07310-1900 1-800-999-7269 Investor Relations You can contact our Investor Relations Department...

  • Page 90
    P.O. Box 270 Hartford, Connecticut 06141-0270 1 800.286.5000 www.nu.com