Eversource 2012 Annual Report Download - page 15

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NORTHEAST UTILITIES AND SUBSIDIARIES
THE CONNECTICUT LIGHT AND POWER COMPANY AND SUBSIDIARIES
NSTAR ELECTRIC COMPANY AND SUBSIDIARIES
PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE AND SUBSIDIARIES
WESTERN MASSACHUSETTS ELECTRIC COMPANY AND SUBSIDIARY
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 subsidiaries, NU Enterprises and NSTAR LLC, which are
included in its Parent and other companies’ results of operations.
Although NU, CL&P, NSTAR Electric, PSNH and WMECO each report their financial results separately, we also include information in
this report on a segment, or line-of-business, basis. The Regulated companies' segments include the electric distribution segment, the
natural gas distribution segment and the electric transmission segment. The electric distribution segment includes the generation
businesses of PSNH and WMECO. The Regulated companies' segments represented substantially all of NU's total consolidated
revenues for years ended December 31, 2012 and 2011.
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 was merged with and into a wholly owned subsidiary of NU, which was subsequently renamed NSTAR
LLC. NU’s consolidated financial statements include the results of operations of NSTAR LLC and its subsidiaries 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.
The following table shows the sources of 2012 electric franchise retail revenues for NU’s electric distribution companies, collectively,
based on categories of customers, including the electric franchise retail revenues of NSTAR Electric from the date of merger, April 10,
2012, through December 31, 2012: