v3.26.1
SHORT-TERM AND LONG-TERM DEBT
 6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
SHORT-TERM AND LONG-TERM DEBT SHORT-TERM AND LONG-TERM DEBT
Short-Term Debt - Commercial Paper Programs and Credit Agreements: Eversource parent has a $2.00 billion commercial paper program allowing Eversource parent to issue commercial paper as a form of short-term debt. Eversource parent, CL&P, PSNH, NSTAR Gas, Yankee Gas and EGMA are parties to a five-year $2.00 billion revolving credit facility. Effective October 11, 2025, the revolving credit facility’s termination date was extended for one additional year to October 11, 2030, pursuant to the extension provisions contained in the existing credit agreement. This revolving credit facility serves to backstop Eversource parent's $2.00 billion commercial paper program.

NSTAR Electric has a $650 million commercial paper program allowing NSTAR Electric to issue commercial paper as a form of short-term debt. NSTAR Electric is also a party to a five-year $650 million revolving credit facility. Effective October 11, 2025, the revolving credit facility’s termination date was extended for one additional year to October 11, 2030, pursuant to the extension provisions contained in the existing credit agreement. This revolving credit facility serves to backstop NSTAR Electric's $650 million commercial paper program.

The amount of borrowings outstanding and available under the commercial paper programs were as follows:
Borrowings Outstanding as ofAvailable Borrowing Capacity as ofWeighted-Average Interest Rate as of
June 30, 2026December 31, 2025June 30, 2026December 31, 2025June 30, 2026December 31, 2025
(Millions of Dollars)
Eversource Parent Commercial Paper Program $432.0 $1,280.0 $1,568.0 $720.0 4.00 %3.98 %
NSTAR Electric Commercial Paper Program 63.0 245.4 587.0 404.6 3.87 %3.87 %

There were no borrowings outstanding on the revolving credit facilities as of June 30, 2026 and December 31, 2025.

CL&P and PSNH have uncommitted line of credit agreements totaling $375 million and $250 million, respectively, all of which will expire in either September 2026, October 2026 or May 2027. There are no borrowings outstanding on either the CL&P or PSNH uncommitted line of credit agreements as of June 30, 2026 and December 31, 2025.

Amounts outstanding under the commercial paper programs are included in Notes Payable and classified in current liabilities on the Eversource and NSTAR Electric balance sheets, as all borrowings are outstanding for no more than 364 days at one time. As a result of the Yankee Gas long-term debt issuances on July 15, 2026, $62.3 million of commercial paper borrowings under the Eversource parent commercial paper program were reclassified to Long-Term Debt on Eversource parent’s balance sheet as of June 30, 2026. As a result of the EGMA long-term debt issuances on July 15, 2026, $39.0 million of commercial paper borrowings under the Eversource parent commercial paper program were reclassified to Long-Term Debt on Eversource parent’s balance sheet as of June 30, 2026.

Intercompany Borrowings: Eversource parent uses its available capital resources to provide loans to its subsidiaries to assist in meeting their short-term borrowing needs. Eversource parent records intercompany interest income from its loans to subsidiaries, which is eliminated in consolidation. Intercompany loans from Eversource parent to its subsidiaries are eliminated in consolidation on Eversource's balance sheets. As of June 30, 2026 and December 31, 2025, there were intercompany loans from Eversource parent to PSNH of $2.1 million and $49.3 million,
respectively. As of June 30, 2026, there were intercompany loans from Eversource parent to CL&P of $107.0 million. Eversource parent charges interest on these intercompany loans at the same weighted-average interest rate as its commercial paper program. Intercompany loans from Eversource parent are included in Notes Payable to Eversource Parent and classified in current liabilities on the respective subsidiary's balance sheets, as these intercompany borrowings are outstanding for no more than 364 days at one time.

Sources and Uses of Cash: The Company expects the future operating cash flows of Eversource, CL&P, NSTAR Electric and PSNH, along with existing borrowing availability and access to both debt and equity markets, will be sufficient to meet any working capital and future operating requirements, and capital investment forecasted opportunities.

Long-Term Debt Issuance Authorizations: On March 3, 2026, PSNH filed a petition with the NHPUC requesting authorization to issue up to $200.0 million in long-term debt through December 31, 2026. PSNH has utilized its long-term debt authorizations in place with the NHPUC. On July 17, 2026, NSTAR Electric filed a petition with the DPU requesting authorization to issue up to $3.2 billion in long-term debt through December 31, 2029.

Long-Term Debt Issuances and Repayments: The following table summarizes long-term debt issuances and repayments:
(Millions of Dollars)Interest RateIssuance/(Repayment)Issue Date or Repayment DateMaturity DateUse of Proceeds for Issuance/
Repayment Information
NSTAR Electric Debentures4.65 %$350.0 May 2026May 2031
Repaid 2.70% Debentures at maturity, repaid Series H Senior Notes at maturity, repaid short-term debt, paid capital expenditures and working capital
NSTAR Electric Debentures5.20 %350.0 May 2026May 2036
Repaid 2.70% Debentures at maturity, repaid Series H Senior Notes at maturity, repaid short-term debt, paid capital expenditures and working capital
NSTAR Electric Debentures2.70 %(250.0)June 2026June 2026Paid at maturity
NSTAR Electric Series H Senior Notes2.75 %(50.0)June 2026June 2026Paid at maturity
PSNH Series X First Mortgage Bonds5.35 %200.0 June 2026October 2033Repaid short-term debt, paid capital expenditures and working capital
Eversource Parent Series A Junior Notes (1)
6.10 %750.0 February 2026August 2056Repaid Series AA Senior Notes at maturity, repay Series U Senior Notes at maturity, repaid short-term debt, and for general corporate purposes
Eversource Parent Series B Junior Notes (2)
6.35 %750.0 February 2026August 2056Repaid Series AA Senior Notes at maturity, repay Series U Senior Notes at maturity, repaid short-term debt, and for general corporate purposes
Eversource Parent Series J Senior Notes3.35 %(250.0)March 2026March 2026Paid at maturity
Eversource Parent Series AA Senior Notes4.75 %(450.0)May 2026May 2026Paid at maturity
Yankee Gas Series AA First Mortgage Bonds5.22 %75.0 July 2026July 2031Refinance existing indebtedness, fund capital expenditures, and for general corporate purposes
Yankee Gas Series BB First Mortgage Bonds5.61 %100.0 July 2026July 2036Refinance existing indebtedness, fund capital expenditures, and for general corporate purposes
EGMA Series G First Mortgage Bonds5.12 %100.0 July 2026July 2031Refinance existing indebtedness, fund capital expenditures, and for general corporate purposes

(1)    The Eversource Parent Series A Junior Subordinated Notes bear interest at a fixed rate of 6.10 percent per year from the issuance date of February 26, 2026 to August 14, 2031. Thereafter, the interest rate resets every five years, commencing on August 15, 2031, at a rate per year equal to the five-year U.S. Treasury Rate plus a spread of 2.521 percent.

(2)     The Eversource Parent Series B Junior Subordinated Notes bear interest at a fixed rate of 6.35 percent per year from the issuance date of February 26, 2026 to August 14, 2036. Thereafter, the interest rate resets every five years, commencing on August 15, 2036, at a rate per year equal to the five-year U.S. Treasury Rate plus a spread of 2.325 percent.

In connection with the sale of Aquarion on June 30, 2026, $612.4 million of long-term debt was repaid at closing.

As a result of the Yankee Gas long-term debt issuances on July 15, 2026, $90.0 million of current portion of long-term debt was reclassified to Long-Term Debt on Eversource parent’s balance sheet as of June 30, 2026.