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REGULATORY ACCOUNTING
 6 Months Ended
Jun. 30, 2025
Regulated Operations [Abstract]  
REGULATORY ACCOUNTING REGULATORY ACCOUNTING
Eversource's utility companies are subject to rate regulation that is based on cost recovery and meets the criteria for application of accounting guidance for rate-regulated operations, which considers the effect of regulation on the timing of the recognition of certain revenues and expenses. The regulated companies' financial statements reflect the effects of the rate-making process.  The rates charged to the customers of Eversource's regulated companies are designed to collect each company's costs to provide service, including a return on investment.

The application of accounting guidance for rate-regulated enterprises results in recording regulatory assets and liabilities. Regulatory assets represent the deferral of incurred costs that are probable of future recovery in customer rates. Regulatory assets are amortized as the incurred costs are recovered through customer rates. Regulatory liabilities represent either revenues received from customers to fund expected costs that have not yet been incurred or probable future refunds to customers.

Management believes it is probable that each of the regulated companies will recover its respective investments in long-lived assets and the regulatory assets that have been recorded.  If management were to determine that it could no longer apply the accounting guidance applicable to rate-regulated enterprises, or if management could not conclude it is probable that costs would be recovered from customers in future rates, the applicable costs would be charged to net income in the period in which the determination is made.

Regulatory Assets:  The components of regulatory assets were as follows:
 As of June 30, 2025As of December 31, 2024
(Millions of Dollars)EversourceCL&PNSTAR
Electric		PSNHEversourceCL&PNSTAR
Electric		PSNH
Storm Costs, Net$2,003.0 $979.8 $554.0 $469.2 $2,039.4 $971.1 $609.8 $458.5 
Regulatory Tracking Mechanisms1,450.0 301.2 648.8 123.8 1,781.6 507.7 650.0 162.8 
Income Taxes, Net991.5 530.1 153.9 20.0 968.4 521.0 145.4 20.7 
Benefit Costs985.8 169.1 304.5 64.8 967.4 168.8 293.6 65.6 
Securitized Stranded Costs327.7 — — 327.7 349.3 — — 349.3 
Goodwill-related238.8 — 205.0 — 247.2 — 212.3 — 
Cost of Removal232.6 — 8.3 — 198.4 — 8.5 — 
Asset Retirement Obligations156.4 42.7 81.4 5.3 150.2 41.2 78.3 5.1 
Derivative Liabilities26.3 26.3 — — 57.2 57.2 — — 
Other Regulatory Assets319.8 44.2 100.7 3.3 311.6 58.5 109.2 3.7 
Total Regulatory Assets6,731.9 2,093.4 2,056.6 1,014.1 7,070.7 2,325.5 2,107.1 1,065.7 
Less:  Current Portion1,823.4 408.5 900.8 125.5 2,189.7 638.5 902.8 173.3 
Total Long-Term Regulatory Assets$4,908.5 $1,684.9 $1,155.8 $888.6 $4,881.0 $1,687.0 $1,204.3 $892.4 

As of both June 30, 2025 and December 31, 2024, the Regulatory Assets attributable to the Aquarion water distribution business have been reclassified to Assets Held for Sale on the Eversource balance sheets. For further information, see Note 17, “Assets Held for Sale.”
Regulatory Costs in Other Long-Term Assets:  Eversource's regulated companies had $259.2 million (including $138.9 million for CL&P, $47.5 million for NSTAR Electric and $7.0 million for PSNH) and $221.0 million (including $116.3 million for CL&P, $41.1 million for NSTAR Electric and $4.5 million for PSNH) of additional regulatory costs not yet specifically approved as of June 30, 2025 and December 31, 2024, respectively, that were included in Other Long-Term Assets on the balance sheets.  These amounts will be reclassified to Regulatory Assets upon approval by the applicable regulatory agency. Based on regulatory policies or past precedent on similar costs, management believes it is probable that these costs will ultimately be approved and recovered from customers in rates. As of June 30, 2025 and December 31, 2024, these regulatory costs included $124.8 million (including $68.2 million for CL&P and $31.8 million for NSTAR Electric) and $92.5 million (including $47.2 million for CL&P and $24.4 million for NSTAR Electric), respectively, of deferred uncollectible hardship costs.

Regulatory Liabilities:  The components of regulatory liabilities were as follows:
 As of June 30, 2025As of December 31, 2024
(Millions of Dollars)EversourceCL&PNSTAR
Electric		PSNHEversourceCL&PNSTAR
Electric		PSNH
EDIT due to Tax Cuts and Jobs Act of 2017$2,422.1 $952.6 $866.5 $326.6 $2,442.7 $956.6 $877.6 $330.6 
Regulatory Tracking Mechanisms896.8 289.7 457.2 93.5 702.4 180.3 413.6 114.4 
Cost of Removal717.1 239.6 448.9 28.6 684.1 212.8 451.3 20.1 
Deferred Portion of Non-Service Income
   Components of Pension, SERP and PBOP		468.6 67.2 232.5 45.6 427.1 61.6 211.6 42.6 
AFUDC - Transmission166.8 67.9 98.9 — 154.8 65.1 89.7 — 
Benefit Costs58.8 5.2 12.7 4.2 69.3 4.5 21.4 3.9 
Other Regulatory Liabilities181.0 44.0 13.9 8.0 184.5 39.1 14.2 4.5 
Total Regulatory Liabilities4,911.2 1,666.2 2,130.6 506.5 4,664.9 1,520.0 2,079.4 516.1 
Less:  Current Portion834.8 237.5 480.2 103.9 632.3 124.1 436.3 121.1 
Total Long-Term Regulatory Liabilities$4,076.4 $1,428.7 $1,650.4 $402.6 $4,032.6 $1,395.9 $1,643.1 $395.0 

As of both June 30, 2025 and December 31, 2024, the Regulatory Liabilities attributable to the Aquarion water distribution business have been reclassified to Liabilities Held for Sale on the Eversource balance sheets. For further information, see Note 17, “Assets Held for Sale.”