Eversource Energy, through its subsidiaries including NSTAR Electric Company, reported a significant increase in financial performance for the first quarter of 2026. The company generated operating revenues of $4.50 billion, a 9.4% increase from $4.12 billion in the same period last year. Net income attributable to common shareholders rose to $606.8 million, or $1.61 per share, compared to $550.8 million, or $1.50 per share, in the prior year. This growth was partially offset by a $43.9 million after-tax charge related to a Federal Energy Regulatory Commission (FERC) decision regarding return on equity (ROE) complaints.
The financial results reflect a strong operational performance, with operating income increasing to $1.08 billion from $926.4 million year-over-year. The increase in revenues was driven by higher base distribution rates at NSTAR Electric and PSNH, effective January 1, 2026, and August 1, 2025, respectively. Additionally, the electric transmission segment saw a rise in revenues due to a higher transmission rate base and increased non-refundable transmission revenues, despite the impact of the regulatory liability established for revenues subject to refund.
In terms of operational metrics, Eversource's customer base remains robust, serving approximately 4.6 million electric, natural gas, and water customers across Connecticut, Massachusetts, and New Hampshire. The company reported a 2.7% increase in total electric sales volumes, with traditional sales volumes rising by 1.8% and decoupled sales volumes increasing by 2.9%. The natural gas segment experienced a slight decline in sales volumes, while water sales volumes decreased by 2.7%.
Strategically, Eversource is navigating regulatory challenges, particularly concerning the FERC ROE complaints. The recent FERC decision has prompted the company to record a regulatory liability of $60.4 million, reflecting the low end of a range of potential losses estimated between $60.4 million and $932 million. The company is actively pursuing a stay of the retroactive refund obligation and has filed a request for rehearing with FERC. Looking ahead, Eversource anticipates continued growth, with revised non-GAAP earnings guidance for 2026 projected between $4.57 and $4.72 per share, supported by ongoing investments in infrastructure and regulatory rate adjustments.
About NSTAR ELECTRIC CO
Eversource Energy is a utility holding company providing electric, natural gas, and water services across New England. Its core operations include regulated distribution, transmission, and renewable energy generation through subsidiaries serving residential, commercial, and industrial customers. The company emphasizes reliable energy delivery, regulatory compliance, and investments in renewable projects, operating a diversified business model focused on essential infrastructure and energy services.
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