Eversource 2014 Annual Report Download - page 6

Access Northeast is one of two major projects that could provide
significant, long-term diversity and cost savings to New England’s
energy customers. Our Northern Pass Transmission Project is
another one of those important solutions: a $1.4 billion transmission
line that will bring clean hydropower from Canada to customers
in our region. We continue to make solid progress with Northern
Pass, working to obtain all federal and state permits needed to
begin construction. We anticipate both projects will begin
serving New England customers by late 2018. These projects will
provide needed relief to the region, and our investment in them,
which could approach $3 billion in total, should provide us with
very attractive earnings growth through the end of the decade.
Additionally, natural gas expansion for heating customers
remains a key growth area for our business. In tandem with our
work to expand capacity, we continue to answer our customers’
demand to convert to natural gas. In 2014 we added another
10,600 natural gas heating customers and we expect to exceed
this level over the next several years as legislation in Connecticut
and Massachusetts encourages conversions. In conjunction with
expansion, we are accelerating pipeline replacement, which will
result in a more modern natural gas delivery system that is less
costly to maintain.
Our company continues to support renewable
energy investments and energy efficiency
programs for customers are a prominent
component of our business. In 2014, we invested
approximately $475 million in a variety of energy
efficiency programs. In the last two years we have
also received regulatory approval for long-term
contracts to purchase approximately 750
megawatts of energy from wind, solar and other
renewable facilities in New England. We are
pleased that an increasing number of portfolio
managers in both the United States and abroad
are recognizing Eversource as an attractive,
sustainable investment and are including our
shares in their funds.
In 2014, we also made progress with our Above
and Beyond for Our Customers Initiative, a
strategic, comprehensive look at all interactions
with our customers at all levels of the company to
enhance the overall customer experience. In fact,
this initiative is already paying dividends: in 2014,
Eversource Energy ranked among J.D. Power’s
most improved brands in recent surveys.
Our commitment to customers and the
communities where we live and work is also
evident in our volunteer programs, charitable
giving and signature partnerships with local
organizations. For example, this year we joined
forces with the Hartford Marathon Foundation
to become their title sponsor. An event like the
Hartford Marathon invigorates the community
and stimulates the economy, providing over
$14 million in economic support. It is an honor
to support the marathon, as well as our other
partners like Boston Children’s Hospital, the
United Way and Special Olympics.
Through a determined, One Company focus
on the customer, coupled with fiscal discipline,
we solidified our position as New England’s
premier energy provider, exceeding our
shareholders’ and customers’ expectations.
2014 was an impressive and fruitful year, and
I look forward to our ongoing success as
Eversource Energy in the years to come.
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