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35
Our transmission segment earnings increased in 2013, as compared to 2012, due primarily to the inclusion of NSTAR Electric
transmission business’ earnings, increased investments in our transmission infrastructure, including GSRP, and the favorable impact of
a lower effective tax rate in 2013, partially offset by the $14.3 million after-tax reserve related to the August 2013 FERC ALJ initial
decision.
Excluding the impact of the merger-related costs, our natural gas distribution segment earnings increased in 2013, as compared to 2012,
due primarily to the inclusion of NSTAR Gas’ earnings, higher firm natural gas sales due primarily to colder weather in the first and fourth
quarters of 2013, as compared to the same periods in 2012, as well as the addition of approximately 10,000 new natural gas heating
customers in 2013, and the favorable impact related to an increase in Yankee Gas rates effective July 1, 2012 as a result of the Yankee
Gas 2011 rate case decision.
A summary of our retail electric GWh sales and percentage changes, assuming NSTAR Electric had been part of the NU electric
distribution system for all periods, as well as percentage changes in CL&P, NSTAR Electric, PSNH and WMECO retail electric GWh
sales, is as follows:
For the Year Ended
December 31, 2013 Compared to 2012
Sales (GWh)
NU - Electric
2013
2012
(1)
Percentage
Increase/
(Decrease)
Residential
21,896
21,374
2.4 %
Commercial (2)
27,787
27,647
0.5 %
Industrial
5,648
5,787
(2.4)%
Total
55,331
54,808
1.0 %
For the Year Ended December 31, 2013 Compared to 2012
CL&P
NSTAR
Electric PSNH WMECO
Electric
Percentage
Increase/
(Decrease)
Percentage
Increase/
(Decrease)
Percentage
Increase
Percentage
Increase/
(Decrease)
Residential
3.4 %
1.3 %
2.2%
1.7 %
Commercial (2)
0.7 %
0.4 %
0.6%
(0.4)%
Industrial
(4.4)%
(3.0)%
2.1%
(3.0)%
Total
1.3 %
0.5 %
1.5%
- %
(1) Results include retail electric sales of NSTAR Electric from January 1, 2012 through December 31, 2012 for comparative purposes only.
(2) Commercial retail electric GWh sales include streetlighting and railroad retail sales.
A summary of our firm natural gas sales in million cubic feet and percentage changes, assuming NSTAR Gas had been part of the NU
natural gas distribution system for all periods, as well as percentage changes in Yankee Gas and NSTAR Gas, for 2013, as compared
to 2012, is as follows:
For the Year Ended
December 31, 2013 Compared to 2012
Sales (million cubic feet)
Percentage
NU - Firm Natural Gas
2013
2012 (1)
Increase
Residential
36,777
30,873
19.1%
Commercial
40,215
35,662
12.8%
Industrial
21,266
20,992
1.3%
Total
98,258
87,527
12.3%
Total, Net of Special Contracts (2)
94,083
81,772
15.1%