Eversource Energy is a public utility holding company primarily engaged, through its wholly-owned regulated utility subsidiaries, in the energy delivery business. Eversource Energy's wholly-owned regulated utility subsidiaries consist of CL&P, NSTAR Electric and PSNH (electric utilities), and Yankee Gas, NSTAR Gas and EGMA (natural gas utilities). Eversource provides energy delivery service to approximately 4.4 million electric and natural gas customers through eight regulated utilities in Connecticut, Massachusetts and New Hampshire.

The unaudited condensed consolidated financial statements of Eversource, NSTAR Electric and PSNH include the accounts of each of their respective subsidiaries. Intercompany transactions have been eliminated in consolidation. The accompanying unaudited condensed consolidated financial statements of Eversource, NSTAR Electric and PSNH and the unaudited condensed financial statements of CL&P are herein collectively referred to as the "financial statements."

The combined notes to the financial statements have been prepared pursuant to the rules and regulations of the SEC. Certain information and footnote disclosures included in annual financial statements prepared in accordance with GAAP have been omitted pursuant to such rules and regulations. The accompanying financial statements should be read in conjunction with the Combined Notes to Financial Statements included in Item 8, "Financial Statements and Supplementary Data," of the Eversource 2025 Form 10-K, which was filed with the SEC on February 17, 2026. The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

The financial statements contain, in the opinion of management, all adjustments (including normal, recurring adjustments) necessary to present fairly Eversource's, CL&P's, NSTAR Electric's and PSNH's financial position as of June 30, 2026 and December 31, 2025, the results of operations, comprehensive income and common shareholders' equity for the three and six months ended June 30, 2026 and 2025, and the cash flows for the six months ended June 30, 2026 and 2025. The results of operations and comprehensive income for the three and six months ended June 30, 2026 and 2025 and the cash flows for the six months ended June 30, 2026 and 2025 are not necessarily indicative of the results expected for a full year.

CYAPC and YAEC are inactive regional nuclear power companies engaged in the long-term storage of their spent nuclear fuel. Eversource consolidates the operations of CYAPC and YAEC because CL&P's, NSTAR Electric's and PSNH's combined ownership and voting interests in each of these entities is greater than 50 percent. Intercompany transactions between CL&P, NSTAR Electric, PSNH and the CYAPC and YAEC companies have been eliminated in consolidation of the Eversource financial statements.

Eversource's utility subsidiaries' distribution and transmission businesses are subject to rate-regulation that is based on cost recovery and meets the criteria for application of accounting guidance for entities with rate-regulated operations, which considers the effect of regulation on the differences in the timing of the recognition of certain revenues and expenses from those of other businesses and industries. See Note 2, "Regulatory Accounting," for further information.

On June 30, 2026, Eversource completed the sale of Aquarion consistent with all regulatory terms and requirements. The assets and liabilities associated with the sale of the water distribution business were previously reflected in the Water Distribution segment and reporting unit. Management has elected to continue presenting the results of the Aquarion water distribution business as a separate reportable segment for the current periods and comparative prior periods. See Note 16, "Segment Information" and Note 17, "Sale of Aquarion Water Distribution Business," for further information.

Accounting Standards Issued but Not Yet Adopted: In September 2025, the Financial Accounting Standards Board issued ASU 2025-06, Intangibles — Goodwill and Other — Internal-Use Software (Subtopic 350-40) - Targeted Improvements to the Accounting for Internal-Use Software, to modernize and clarify the accounting for software costs. The ASU’s provisions change the criteria for capitalization of software development costs by eliminating consideration of “project development stages” and instead requiring consideration of the probability of software project completion for its intended use. The new accounting guidance is effective for interim and annual periods beginning after December 15, 2027, with early adoption permitted. Entities are permitted to apply one of three transition approaches: prospective, modified transition that is based on the status of the project and whether software costs were capitalized before the date of adoption, or retrospective. Eversource is currently reviewing the requirements of ASU 2025-06.

In May 2026, the Financial Accounting Standards Board issued ASU 2026-02, Environmental Credits and Environmental Credit Obligations (Topic 818), to establish a comprehensive model for the recognition, measurement, presentation, and disclosure of environmental credits and environmental credit obligations. The new accounting guidance is effective for interim and annual periods beginning after December 15, 2027, with early adoption permitted. Entities should apply the amendments on a retrospective basis through a cumulative-effect adjustment on the opening balance of retained earnings. Eversource is currently reviewing the requirements of ASU 2026-02.

Receivables, Net on the balance sheets primarily includes trade receivables from retail customers and customers related to wholesale transmission contracts, wholesale market sales, sales of RECs, and property rentals. Receivables, Net also includes customer receivables for the purchase of electricity from a competitive third-party supplier, the current portion of customer energy efficiency loans, property damage receivables and other miscellaneous receivables. There is no material concentration of receivables.

Receivables are recorded at amortized cost, net of a credit loss provision (or allowance for uncollectible accounts). The current expected credit loss (CECL) model is applied to receivables for purposes of calculating the allowance for uncollectible accounts. This model is based on expected losses and results in the recognition of estimated expected credit losses, including uncollectible amounts for both billed and unbilled revenues, over the life of the receivable at the time a receivable is recorded.

The allowance for uncollectible accounts is determined based upon various judgments and factors, including an aging-based quantitative assessment that applies an estimated uncollectible percentage to each receivable aging category. Factors in determining credit loss include historical collection, write-off experience, analysis of delinquency statistics, and management's assessment of collectability from customers, including current economic conditions, customer payment trends, the impact on customer bills because of energy usage trends and changes in rates, flexible payment plans and financial hardship arrearage management programs offered to customers, reasonable forecasts, and expectations of future collectability and collection efforts. Management continuously assesses the collectability of receivables and adjusts estimates based on actual experience and future expectations based on economic conditions, collection efforts and other factors. Management also monitors the aging analysis of receivables to determine if there are changes in the collections of accounts receivable. Receivable balances are written off against the allowance for uncollectible accounts when the customer accounts are no longer in service and these balances are deemed to be uncollectible. Management concluded that the reserve balance as of June 30, 2026 adequately reflected the collection risk and net realizable value for its receivables.

The PURA allows CL&P and Yankee Gas to accelerate the recovery of accounts receivable balances attributable to qualified customers under financial or medical duress (uncollectible hardship accounts receivable) outstanding for greater than 180 days and 90 days, respectively. The DPU allows NSTAR Electric, NSTAR Gas and EGMA to recover in rates amounts associated with certain uncollectible hardship accounts receivable. These uncollectible hardship customer account balances are included in Regulatory Assets or Other Long-Term Assets on the balance sheets. Hardship customers are protected from shut-off in certain circumstances, and historical collection experience has reflected a higher default risk as compared to the rest of the receivable population. Management uses a higher credit risk profile for this pool of trade receivables as compared to non-hardship receivables. The allowance for uncollectible hardship accounts is included in the total uncollectible allowance balance.


	Eversource						CL&P						NSTAR Electric						PSNH
(Millions of Dollars)	Hardship Accounts		Retail (Non-Hardship), Wholesale, and Other		Total Allowance		Hardship Accounts		Retail (Non-Hardship), Wholesale, and Other		Total Allowance		Hardship Accounts		Retail (Non-Hardship), Wholesale, and Other		Total Allowance		Total Allowance
Balance as of April 1, 2026	$	383.2	$	228.5	$	611.7	$	238.6	$	35.4	$	274.0	$	56.6	$	70.5	$	127.1	$	24.3
Uncollectible Expense	—		19.8		19.8		—		4.3		4.3		—		7.3		7.3		1.2
Uncollectible Costs Deferred (1)	36.7		14.5		51.2		9.0		3.1		12.1		8.8		6.6		15.4		2.0
Write-Offs	(10.2)		(28.7)		(38.9)		(8.0)		(8.7)		(16.7)		(0.4)		(9.4)		(9.8)		(2.8)
Recoveries Collected	0.3		3.0		3.3		0.3		1.0		1.3		—		1.1		1.1		0.2
Sale of Aquarion (2)	—		(2.2)		(2.2)		—		—		—		—		—		—		—
Balance as of June 30, 2026	$	410.0	$	234.9	$	644.9	$	239.9	$	35.1	$	275.0	$	65.0	$	76.1	$	141.1	$	24.9

Balance as of January 1, 2026	$	367.2	$	213.3	$	580.5	$	225.7	$	32.8	$	258.5	$	60.7	$	71.9	$	132.6	$	23.5
Uncollectible Expense	—		50.6		50.6		—		9.8		9.8		—		15.6		15.6		2.6
Uncollectible Costs Deferred (1)	64.5		33.3		97.8		31.1		5.9		37.0		5.3		14.0		19.3		4.2
Write-Offs	(22.4)		(67.2)		(89.6)		(17.5)		(15.6)		(33.1)		(1.0)		(28.0)		(29.0)		(5.9)
Recoveries Collected	0.7		7.1		7.8		0.6		2.2		2.8		—		2.6		2.6		0.5
Sale of Aquarion (2)	—		(2.2)		(2.2)		—		—		—		—		—		—		—

Balance as of June 30, 2026	$	410.0	$	234.9	$	644.9	$	239.9	$	35.1	$	275.0	$	65.0	$	76.1	$	141.1	$	24.9


	Eversource						CL&P						NSTAR Electric						PSNH
(Millions of Dollars)	Hardship Accounts		Retail (Non-Hardship), Wholesale, and Other		Total Allowance		Hardship Accounts		Retail (Non-Hardship), Wholesale, and Other		Total Allowance		Hardship Accounts		Retail (Non-Hardship), Wholesale, and Other		Total Allowance		Total Allowance
Balance as of April 1, 2025	$	371.5	$	194.1	$	565.6	$	240.3	$	35.9	$	276.2	$	57.8	$	58.2	$	116.0	$	14.3
Uncollectible Expense	—		18.6		18.6		—		5.4		5.4		—		6.5		6.5		1.1
Uncollectible Costs Deferred (1)	14.9		11.8		26.7		3.2		2.9		6.1		3.2		5.8		9.0		1.2
Write-Offs	(9.6)		(29.6)		(39.2)		(7.3)		(8.1)		(15.4)		(0.7)		(12.1)		(12.8)		(1.8)
Recoveries Collected	0.2		3.7		3.9		0.1		1.2		1.3		—		1.5		1.5		0.2
Balance as of June 30, 2025	$	377.0	$	198.6	$	575.6	$	236.3	$	37.3	$	273.6	$	60.3	$	59.9	$	120.2	$	15.0

Balance as of January 1, 2025	$	364.6	$	191.6	$	556.2	$	240.7	$	38.4	$	279.1	$	55.2	$	59.7	$	114.9	$	14.1
Uncollectible Expense	—		41.5		41.5		—		10.1		10.1		—		14.0		14.0		2.4
Uncollectible Costs Deferred (1)	34.3		25.6		59.9		12.0		4.8		16.8		6.7		11.3		18.0		2.6
Write-Offs	(22.2)		(67.4)		(89.6)		(16.6)		(18.2)		(34.8)		(1.6)		(28.0)		(29.6)		(4.5)
Recoveries Collected	0.3		7.3		7.6		0.2		2.2		2.4		—		2.9		2.9		0.4
Balance as of June 30, 2025	$	377.0	$	198.6	$	575.6	$	236.3	$	37.3	$	273.6	$	60.3	$	59.9	$	120.2	$	15.0

(1) These expected credit losses are deferred as regulatory costs on the balance sheets, as these amounts are ultimately recovered in rates. Amounts include uncollectible costs for hardship accounts and other customer receivables, including uncollectible amounts related to uncollectible energy supply costs.

Fair value measurement guidance is applied to derivative contracts that are not elected or designated as "normal purchases" or "normal sales" (normal) and to marketable securities held in trusts. Fair value measurement guidance is also applied to valuations of the investments used to calculate the funded status of pension and PBOP plans, the nonrecurring fair value measurements of nonfinancial assets such as goodwill, long-lived assets, equity method investments, AROs, and in the valuation of business combinations and asset acquisitions. The fair value measurement guidance was also applied in estimating the fair value of preferred stock, long-term debt and RRBs.

Fair Value Hierarchy: In measuring fair value, Eversource uses observable market data when available in order to minimize the use of unobservable inputs. Inputs used in fair value measurements are categorized into three fair value hierarchy levels for disclosure purposes. The entire fair value measurement is categorized based on the lowest level of input that is significant to the fair value measurement. Eversource evaluates the classification of assets and liabilities measured at fair value on a quarterly basis.

Level 1 - Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities as of the reporting date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis.

Level 3 - Quoted market prices are not available. Fair value is derived from valuation techniques in which one or more significant inputs or assumptions are unobservable. Where possible, valuation techniques incorporate observable market inputs that can be validated to external sources such as industry exchanges, including prices of energy and energy-related products.


	For the Three Months Ended
	June 30, 2026								June 30, 2025
(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric		PSNH
Pension, SERP and PBOP Non-Service Income Components, Net of Deferred Portion	$	42.3	$	11.3	$	18.3	$	5.1	$	35.5	$	9.3	$	15.4	$	4.6
AFUDC Equity	30.9		6.8		16.8		2.7		25.6		1.5		14.7		4.5
Equity in Earnings of Unconsolidated Affiliates	5.1		—		0.1		—		4.8		—		0.2		—
Investment Loss	(3.4)		(1.5)		(0.1)		(0.7)		(2.0)		(0.9)		(0.2)		(0.4)
Interest Income	32.6		0.6		19.0		3.2		30.8		2.5		17.6		5.0

Other (1)	36.5		—		—		0.1		0.7		0.1		—		—
Total Other Income, Net	$	144.0	$	17.2	$	54.1	$	10.4	$	95.4	$	12.5	$	47.7	$	13.7

	For the Six Months Ended
	June 30, 2026								June 30, 2025
(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric		PSNH
Pension, SERP and PBOP Non-Service Income Components, Net of Deferred Portion	$	86.5	$	23.2	$	37.3	$	10.3	$	68.1	$	17.6	$	30.2	$	8.7
AFUDC Equity	54.8		11.4		32.5		5.0		49.5		5.1		28.8		8.4
Equity in Earnings of Unconsolidated Affiliates	8.9		—		0.2		—		10.8		—		0.4		—
Investment (Loss)/Income	(3.1)		(1.6)		0.3		(0.7)		(4.0)		(0.8)		(2.0)		(0.3)
Interest Income	61.0		1.8		35.4		6.2		64.8		8.1		36.6		7.7

Other (1)	37.1		—		0.1		0.1		(1.5)		0.1		—		—
Total Other Income, Net	$	245.2	$	34.8	$	105.8	$	20.9	$	187.7	$	30.1	$	94.0	$	24.5

(1) In the second quarter of 2026, Eversource completed the sale of an intangible asset. The transaction resulted in proceeds of $36.0 million, which was recognized as a gain on sale within Other Income. The gain is reflected in the Parent and Other Companies segment and the cash proceeds from sale are presented within Other investing activities on the statement of cash flows.

Eversource's companies that serve customers in Connecticut collect gross receipts taxes levied by the state of Connecticut from their customers. These gross receipts taxes are recorded separately with collections in Operating Revenues and with payments in Taxes Other Than Income Taxes on the statements of income as follows:

The following table reconciles cash and cash equivalents as reported on the balance sheets to the cash, cash equivalents and restricted cash balance as reported on the statements of cash flows:


	As of June 30, 2026								As of December 31, 2025
(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric		PSNH
Cash and Cash Equivalents as reported on the Balance Sheets	$	1,819.3	$	0.5	$	15.4	$	56.1	$	135.4	$	87.6	$	8.3	$	13.7
Restricted cash included in:
Special Deposits	59.7		1.1		1.2		34.4		93.6		1.1		17.6		38.3

Marketable Securities	11.9		—		—		—		14.0		—		—		—
Other Long-Term Assets	3.2		—		—		3.2		3.2		—		—		3.2
Cash, Cash Equivalents and Restricted Cash as reported on the Statements of Cash Flows	$	1,894.1	$	1.6	$	16.6	$	93.7	$	246.2	$	88.7	$	25.9	$	55.2

Special Deposits represent cash collections related to the PSNH RRB customer charges that are held in trust, required ISO-NE cash deposits, cash held in escrow accounts, and CYAPC and YAEC cash balances. Special Deposits are included in Current Assets on the balance sheets. Restricted cash included in Marketable Securities represents money market funds held in restricted trusts to fund CYAPC and YAEC's spent nuclear fuel storage obligations.

As of June 30, 2026, the Cash and Cash Equivalents balance at Eversource was $1.82 billion. This balance includes approximately $1.7 billion of net proceeds received from the June 30, 2026 sale of Aquarion. The Company expects to utilize these proceeds to reduce Eversource parent debt. See Note 17, "Sale of Aquarion Water Distribution Business," for further information.

Eversource’s restricted cash also includes an Energy Relief Fund for energy efficiency and clean energy measures in the Merrimack Valley established under the terms of an EGMA 2020 settlement agreement. This restricted cash held in escrow accounts included $7.5 million and $21.4 million recorded as short-term in Special Deposits as of June 30, 2026 and December 31, 2025, respectively.