Eversource 2012 Annual Report Download - page 6

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response was excellent. Northeast Utilities also answered calls for assistance from
electric and gas utilities in New York and New Jersey. Our coordinated response—
spanning all of our operating companies—underscored the resiliency of our newly
formed company and the determination of our dedicated employees, whose restoration
work received two prestigious Edison Electric Institute awards.
Our future success will be built on running our business well and investing in the energy
infrastructure New England needs. We have developed a new fi ve-year transmission
capital plan beginning in 2013 to enhance reliability and improve the effi ciency of the
power markets for our customers, and to grow our transmission business. The plan
includes a $900 million increase over our previous fi ve-year plan. Two key transmission
projects designed to strengthen the reliability of the power grid—the Greater
Springfi eld Reliability Project in western Massachusetts and northern Connecticut,
and the Southeast Massachusetts Reliability project—will be completed in 2013.
Regulators also approved the Connecticut segment of the Interstate Reliability Project
and we expect construction to begin next year. Additionally, our plans are progressing
well on the Northern Pass transmission line—a line that will deliver clean energy from
Quebec to New England.
The natural gas segment of our business also offers signifi cant growth potential. We
have worked closely with Connecticut state offi cials to develop a long range plan for
expansion, and we’re working diligently to mirror those efforts in Massachusetts.
Customer demand for low price natural gas is driving heating conversions: in 2012,
we had a record 8,871 new natural gas heating customers. We expect conversions
to continue to be strong in the years ahead as natural gas continues to maintain its
strong price advantage over heating oil. Our existing gas customers are also pleased
with their gas service: NSTAR Gas and Yankee Gas were ranked fi rst and second,
respectively, in a 2012 J.D. Power & Associates customer satisfaction survey.
We recognize the obligation of sharing our strength and success with philanthropic
organizations serving our communities. Both Northeast Utilities and NSTAR have long-
standing traditions of generous community support, and now as a bigger company this
commitment will only get stronger.
I am extremely grateful to our Chairman, Chuck Shivery, for his wisdom and steady
guidance in bringing our companies together. Chuck’s fi rm placement of the needs of our
customers at the center of our business remains our guiding philosophy and will serve
as Chuck’s legacy.
Thanks to Chuck’s leadership, the support of our Board of Trustees, and our highly-
engaged employees, I can confi dently state that as a bigger, stronger, better Northeast
Utilities, the future holds much promise.
Sincerely,
Tom May
President and Chief Executive Offi cer
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