Eversource 2014 Annual Report Download - page 47
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35
Distribution Business: A summary of distribution capital expenditures by company is as follows:
For the Years Ended December 31,
2014 2013
2012
(1)
P:
Basic Business $120.2 $60.9 $69.2
Aging Infrastructure 118.0 160.7 177.8
Load Growth 66.3 76.9 65.8
P304.5 298.5 312.8
Basic Business 99.0 98.5 47.3
Aging Infrastructure 104.2 110.6 111.5
Load Growth 43.1 53.6 17.4
246.3 262.7 176.2
Basic Business 62.1 22.7 25.3
Aging Infrastructure 45.3 50.5 50.2
Load Growth 27.1 29.3 20.2
134.5 102.5 95.7
Basic Business 19.0 7.9 12.7
Aging Infrastructure 16.1 24.6 18.5
Load Growth 6.1 9.2 6.5
41.2 41.7 37.7
Total -Electric Distribution (excluding Generation) 726.5 705.4 622.4
Other Distribution -0.7 0.1
PSNH Generation13.1 9.7 29.9
WMECO Generation 7.6 4.5 0.7
Total -Natural Gas 193.7 175.2 162.9
Total Distribution Segment $940.9 $895.5 $816.0
(1) Results include the electric and natural gas distribution capital expenditures of NSTAR beginning April 10, 2012.
For the electric distribution business, basic business includes the purchase of meters, tools, vehicles, information technology, transformer
replacements, equipment facilities, and the relocation of plant. Aging infrastructure relates to reliability and the replacement of overhead lines, plant
substations, underground cable replacement, and equipment failures. Load growth includes requests for new business and capacity additions on
distribution lines and substation additions and expansions.
In 2013, in accordance with Connecticut law and regulation, PURA approved a comprehensive
joint natural gas infrastructure expansion plan (expansion plan) filed by Yankee Gas and other Connecticut natural gas distribution companies. The
expansion plan described how Yankee Gas expects to add approximately 82,000 new natural gas heating customers over the next 10 years. Yankee
Gas estimates that its portion of the plan will cost approximately $700 million over 10 years. In January 2015, PURA approved a joint settlement
agreement proposed by Yankee Gas and other Connecticut natural gas distribution companies and regulatory agencies that clarified the procedures
and oversight criteria applicable to the expansion plan.
On October 31, 2014, pursuant to new legislation, NSTAR Gas filed the Gas System Enhancement Program (GSEP) with the DPU. NSTAR Gas'
program accelerates the replacement of certain natural gas distribution facilities in the system within 25 years. The GSEP includes a new tariff that
provides NSTAR Gas an opportunity to collect the costs for the program on an annual basis through a newly designed reconciling factor to be
approved by the DPU. We expect a decision on the program in April 2015. We have projected capital expenditures of approximately $200 million
for the period 2015 through 2018 for the GSEP, which are consistent with our request in the NSTAR Gas rate case application currently before the
DPU.