Eversource 2015 Annual Report Download - page 104

Download and view the complete annual report

Please find page 104 of the 2015 Eversource annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 136

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136

92
Environmental Rate Recovery: PSNH, NSTAR Gas and Yankee Gas have rate recovery mechanisms for MGP related environmental costs,
therefore, changes in their respective environmental reserves do not impact Net Income. CL&P recovers a certain level of environmental costs
currently in rates. CL&P, NSTAR Electric and WMECO do not have a separate environmental cost recovery regulatory mechanism.
B.
Long-Term Contractual Arrangements
Estimated Future Annual Costs:
The estimated future annual costs of significant long-term contractual arrangements as of December 31, 2015 are
as follows:
Eversource
(Millions of Dollars) 2016
2017 2018 2019 2020 Thereafter Total
Supply and Stranded Cost
$
177.4 $
110.1 $
81.5 $
51.1 $
34.9 $
80.6 $
535.6
Renewable Energy
246.6 273.3 238.3 237.4 237.0 2,174.7 3,407.3
Peaker CfDs
55.8 41.1 20.4 7.8 4.0 3.6 132.7
Natural Gas Procurement
137.9 123.8 78.4 57.8 46.9 99.7 544.5
Coal, Wood and Other
45.4 23.3 3.4 1.9 1.9 13.1 89.0
Transmission Support Commitments
21.4 19.0 20.3 20.2 20.2 - 101.1
Total
$
684.5 $
590.6 $
442.3 $
376.2 $
344.9 $
2,371.7 $
4,810.2
CL&P
(Millions of Dollars) 2016
2017 2018 2019 2020 Thereafter Total
Supply and Stranded Cost
$
145.0 $
87.2 $
58.2 $
38.0 $
29.3 $
47.6 $
405.3
Renewable Energy
70.1 71.7 72.1 72.3 72.4 649.7 1,008.3
Peaker CfDs
55.8 41.1 20.4 7.8 4.0 3.6 132.7
Transmission Support Commitments
8.4 7.5 8.0 8.0 8.0 - 39.9
Yankee Companies Billings
0.1 0.4 0.8 0.8 0.8 10.7 13.6
Total
$
279.4 $
207.9 $
159.5 $
126.9 $
114.5 $
711.6 $
1,599.8
NSTAR Electric
(Millions of Dollars) 2016
2017 2018 2019 2020 Thereafter Total
Supply and Stranded Cost
$
14.1 $
4.8 $
5.5 $
5.5 $
3.1 $
28.1 $
61.1
Renewable Energy
99.0 117.0 80.4 78.5 76.6 489.8 941.3
Transmission Support Commitments
6.6 5.9 6.3 6.2 6.2 - 31.2
Yankee Companies Billings
0.1 0.2 0.3 0.3 0.3 3.6 4.8
Total
$
119.8 $
127.9 $
92.5 $
90.5 $
86.2 $
521.5 $
1,038.4
PSNH
(Millions of Dollars) 2016 2017 2018 2019 2020 Thereafter Total
Supply and Stranded Cost
$
18.3 $
18.1 $
17.8 $
7.6 $
2.5 $
4.9 $
69.2
Renewable Energy
67.9 69.0 70.1 70.7 72.0 860.4 1,210.1
Coal, Wood and Other
45.4 23.3 3.4 1.9 1.9 13.1 89.0
Transmission Support Commitments
4.6 4.0 4.3 4.3 4.3 - 21.5
Yankee Companies Billings
0.1 0.2 0.3 0.3 0.3 4.2 5.4
Total
$
136.3 $
114.6 $
95.9 $
84.8 $
81.0 $
882.6 $
1,395.2
WMECO
(Millions of Dollars) 2016
2017 2018 2019 2020 Thereafter Total
Renewable Energy
$
9.6 $
15.6 $
15.7 $
15.9 $
16.0 $
174.8 $
247.6
Transmission Support Commitments
1.8 1.6 1.7 1.7 1.7 - 8.5
Yankee Companies Billings
- 0.1 0.2 0.2 0.2 2.7 3.4
Total
$
11.4 $
17.3 $
17.6 $
17.8 $
17.9 $
177.5 $
259.5
Supply and Stranded Cost: CL&P, NSTAR Electric and PSNH have various IPP contracts or purchase obligations for electricity, including payment
obligations resulting from the buydown of electricity purchase contracts. Such contracts extend through 2024 for CL&P, 2031 for NSTAR Electric
and 2023 for PSNH.
In addition, CL&P, along with UI, has four capacity CfDs for a total of approximately 787 MW of capacity consisting of three generation projects
and one demand response project. The capacity CfDs extend through 2026 and obligate both CL&P and UI to make or receive payments on a
monthly basis to or from the generation facilities based on the difference between a set contractual capacity price and the capacity market prices
received by the generation facilities in the ISO-NE capacity markets. CL&P has a sharing agreement with UI, whereby UI will share 20 percent of
the costs and benefits of these contracts. CL&P’s portion of the costs and benefits of these contracts will be paid by or refunded to CL&P’s
customers.
The contractual obligations table above does not include CL&P’s, NSTAR Electric’s or WMECO’s default service contracts, the amounts of which
vary with customers’ energy needs. The contractual obligations table also does not include PSNH’s short-term power supply management.