Eversource 2015 Annual Report Download - page 14

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2
EVERSOURCE ENERGY AND SUBSIDIARIES
THE CONNECTICUT LIGHT AND POWER COMPANY
NSTAR ELECTRIC COMPANY AND SUBSIDIARY
PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE AND SUBSIDIARY
WESTERN MASSACHUSETTS ELECTRIC COMPANY
PART I
Item 1. Business
Please refer to the Glossary of Terms for definitions of defined terms and abbreviations used in this combined Annual Report on Form 10-K.
Eversource Energy, headquartered in Boston, Massachusetts and Hartford, Connecticut, is a public utility holding company subject to regulation by
the FERC under the Public Utility Holding Company Act of 2005. We are engaged primarily in the energy delivery business through the following
wholly owned utility subsidiaries:
• The Connecticut Light and Power Company (CL&P), a regulated electric utility that serves residential, commercial and industrial
customers in parts of Connecticut;
• NSTAR Electric Company (NSTAR Electric), a regulated electric utility that serves residential, commercial and industrial customers in
parts of eastern Massachusetts;
• Public Service Company of New Hampshire (PSNH), a regulated electric utility that serves residential, commercial and industrial
customers in parts of New Hampshire and owns generation assets used to serve customers;
• Western Massachusetts Electric Company (WMECO), a regulated electric utility that serves residential, commercial and industrial
customers in parts of western Massachusetts and owns solar generating assets;
• NSTAR Gas Company (NSTAR Gas), a regulated natural gas utility that serves residential, commercial and industrial customers in parts of
Massachusetts; and
• Yankee Gas Services Company (Yankee Gas), a regulated natural gas utility that serves residential, commercial and industrial customers in
parts of Connecticut.
CL&P, NSTAR Electric, PSNH and WMECO also serve New England customers through Eversource Energy’s electric transmission business.
On April 30, 2015, the Company’s legal name was changed from Northeast Utilities to Eversource Energy. CL&P, NSTAR Electric, PSNH and
WMECO are each doing business as Eversource Energy.
Eversource Energy, CL&P, NSTAR Electric, PSNH and WMECO each report their financial results separately. We also include information in this
report on a segment basis for Eversource Energy. Eversource Energy recognizes three reportable segments: electric distribution, electric transmission
and natural gas distribution. Eversource Energy’s electric distribution segment includes the generation businesses of PSNH and WMECO. These
three segments represented substantially all of Eversource Energy’s total consolidated revenues for the years ended December 31, 2015 and 2014.
CL&P, NSTAR Electric, PSNH and WMECO do not report separate business segments.
ELECTRIC DISTRIBUTION SEGMENT
General
Eversource Energy’s electric distribution segment consists of the distribution businesses of CL&P, NSTAR Electric, PSNH and WMECO, which are
engaged in the distribution of electricity to retail customers in Connecticut, eastern Massachusetts, New Hampshire and western Massachusetts,
respectively, plus the regulated electric generation businesses of PSNH and WMECO.
The following table shows the sources of 2015 electric franchise retail revenues for Eversource Energy’s electric distribution companies, collectively,
based on categories of customers:
(Thousands of Dollars, except percentages) 2015
% of Total
Residential $
3,608,155 55
Commercial 2,476,686 38
Industrial 326,564 5
Other 151,195 2
Total Retail Electric Revenues $ 6,562,600 100%