Latest news with #Eversource
Yahoo
5 hours ago
- Business
- Yahoo
Homeowner shares 'bill' they received from energy company after installing solar panels: 'Check to see if solar is a good fit'
If you have solar and think your solar credits allow you to make money from your energy company, you might have the wrong idea. But it's likely more important anyway that solar can save you money on energy bills — as one intriguing Reddit post displayed. The original poster showed they earned a statement credit from surplus solar generation sold back to their electric supplier, Eversource, and shared a "bill" in the community r/Connecticut. The image shows the "Total Current Charges" from Eversource came to -$193.67 for a statement from May 2024. This indicated a credit balance. "Just got my first 'bill' from Eversource after getting my solar production meter installed last month," the OP said. "You want to hit Eversource where it hurts? Hit their wallet. Check to see if solar is a good fit for you." While you can save money by switching to solar ASAP, solar might not let you profit from your energy company in all areas. In this area, the user was able to get a statement credit, though as some in the comments pointed out, this does not hurt a utility company or electric supplier, as they get to use that surplus energy and charge other customers for it. "They resell electricity you generate at a premium…," a Reddit user replied to the OP. But even the rest of this comment was challenged by another commenter, highlighting the subtleties of some solar programs offered by utilities. Regardless, the post indicates that it is possible to save money or even get bill credits with residential solar. If you live in Connecticut or are interested in learning about Eversource's programs, you can find plenty of information on its website. If you want to install solar like the OP, EnergySage can help you out. The installers it recommends are local and vetted, and you can compare quotes with ease. They can even save you up to $10,000 on the installation process. Do you think your city has good air quality? Definitely Somewhat Depends on the time of year Not at all Click your choice to see results and speak your mind. You can also save money on solar installation through federal tax credits — but not for long. Congress repealed the solar tax credit, so getting 30% off your installation is only available until the end of 2025. There's clearly a lot of moving parts within solar installation, but it doesn't have to be difficult to navigate if you work with trusted experts. After all, something that saves you money and reduces pollution shouldn't be hard to do. No matter what state you live in, EnergySage has a mapping tool that will help you find what you need. EnergySage may even track down state or local incentives that might exist after the federal solar tax credit ends. The world of solar can be overwhelming when you're new to it. But it can save you future stress by keeping your community healthy and lowering your energy bill. Join our free newsletter for easy tips to save more and waste less, and don't miss this cool list of easy ways to help yourself while helping the the daily Crossword
Yahoo
04-08-2025
- Business
- Yahoo
Electric rates will rise Friday
SPRINGFIELD — Rates will rise Aug. 1 for customers of the state's investor-owned utilities. But while the new rates will be higher than winter-spring 2025 costs, they will not be as high as autumn 2024. Eversource electric customers in Western Massachusetts will pay an average of $10.65 a month more, a 5.5% increase over the rates they pay now. The utility's basic rate for electric power supply — not the transportation cost — is going up from 11.7 cents a kilowatt hour to 13.49 cents, the utility said this week. Eversource said the rate hike won't affect people who get their synergy supply from a third-party, like folks who participate in a municipal aggregation plan. The state Department of Public Utilities approved municipal aggregation plans for Southwick and Springfield in late 2024. Ludlow launches Ludlow Power Choice, its aggregation plan, in August. National Grid, the other investor-owned utility covering this region, said the seasonal rate adjustment and decreases to other bill components result in an overall increase of 2.2%, or $4.87, for a typical customer using 600 kilowatt hours a month. The basic service rate will change from the current 14.7 cents per kWh to 15.5 cents per kWh. The National Grid basic service rate was an average of 16.04 cents per kilowatt hour for the period from Aug. 1, 2024, to Jan. 31, the utility said. The state requires investor-owned utilities to set rates twice a year. And in 2023, the date changed to Aug. 1 and Feb. 1 to split up the colder months, when power use and prices are high. Municipal utilities are not on the fixed schedule, said Westfield Gas & Electric General Manager Thomas Flaherty. But he said prices will rise, with the cost of importing natural gas into the region for power generation. The real driver of higher utility costs will be in electrical transmission costs, because utilities are investing in the transmission system. Stories by Jim Kinney Pridelands on Main St., outdoor beer garden funded through ARPA, drawing crowds Baystate Health in talks about acquiring Mercy Medical Center, sources say 'You turn 65, you join the club.' U.S. Rep. Richard Neal celebrates anniversary of Medicare and Medicaid Act Read the original article on MassLive. Solve the daily Crossword
Business Wire
31-07-2025
- Business
- Business Wire
Eversource Energy Reports Second Quarter 2025 Results
HARTFORD, Conn. & BOSTON--(BUSINESS WIRE)--Eversource Energy (NYSE: ES) today reported earnings of $352.7 million, or $0.96 per share, for the second quarter of 2025, compared with earnings of $335.3 million, or $0.95 per share, for the second quarter of 2024. For the first half of 2025, Eversource Energy reported earnings of $903.5 million, or $2.45 per share, compared with earnings of $857.2 million, or $2.43 per share, for the first half of 2024. 'Eversource delivered solid operational and financial results in the second quarter, reflecting the dedication and expertise of our talented workforce,' said Joe Nolan, Chairman, President, and Chief Executive Officer. 'Our employees demonstrated exceptional commitment to our customers, responding quickly to a series of weather events across our service territory. We strengthened our financial foundation by boosting cash flow from operations and enhancing our balance sheet. Importantly, we continued to prioritize customer affordability while progressing constructive regulatory outcomes that support our long-term investment strategy.' The company reaffirms its 2025 earnings projection of between $4.67 per share and $4.82 per share. It also reaffirms its compound annual earnings per share growth rate within the range of 5 to 7 percent from a 2024 base of $4.57 per share 1. Electric Transmission Eversource Energy's transmission segment earned $208.0 million in the second quarter of 2025 and $407.5 million in the first half of 2025, compared with earnings of $189.0 million in the second quarter of 2024 and $365.7 million in the first half of 2024. Transmission segment results improved in both periods due primarily to continued investment in Eversource's electric transmission system. Electric Distribution Eversource Energy's electric distribution segment earned $161.5 million in the second quarter of 2025 and $350.0 million in the first half of 2025, compared with earnings of $149.7 million in the second quarter of 2024 and $317.9 million in the first half of 2024. Improved results in both periods were due primarily to higher revenues from base distribution rate increases at Eversource's New Hampshire and Massachusetts electric businesses, and continued investments in our distribution system. The higher revenues were partially offset by higher property taxes, interest and depreciation. Natural Gas Distribution Eversource Energy's natural gas distribution segment earned $35.3 million in the second quarter of 2025 and $253.7 million in the first half of 2025, compared with earnings of $27.1 million in the second quarter of 2024 and $217.6 million in the first half of 2024. Improved results in both periods were due primarily to the base distribution rate increases at Eversource's Massachusetts gas businesses, effective November 1, 2024, to recover continued investment in our natural gas infrastructure. The higher revenues were partially offset by higher operations and maintenance, interest, depreciation and property tax expense. Water Distribution Eversource Energy's water distribution segment earned $14.4 million in the second quarter of 2025 and $17.9 million in the first half of 2025, compared with earnings of $8.0 million in the second quarter of 2024 and $13.4 million in the first half of 2024. Improved results in both periods were due primarily to higher revenues and lower interest expense. Eversource Parent and Other Companies Eversource Energy parent and other companies had losses of $66.5 million in the second quarter of 2025 and $125.6 million in the first half of 2025, compared with losses of $38.5 million in the second quarter of 2024 and $57.4 million in the first half of 2024. The increased loss in both periods was due primarily to higher interest expense due to the absence of capitalized interest as a result of the sale of our offshore wind projects. Eversource Energy Consolidated Earnings The following table reconciles consolidated GAAP earnings per share for the second quarter and first half of 2025 and 2024: Financial results for the second quarter and first half of 2025 and 2024 for Eversource Energy's business segments and parent and other companies are noted below: Eversource Energy has approximately 371 million common shares outstanding and operates New England's largest energy delivery system. It serves approximately 4.6 million electric, natural gas and water customers in Connecticut, Massachusetts and New Hampshire. 1 All per-share amounts in this news release are reported on a diluted basis. The only common equity securities that are publicly traded are common shares of Eversource Energy. The second quarter and first half of 2025 and 2024 earnings discussion includes a financial measure, EPS by business, that is not recognized under generally accepted accounting principles (non-GAAP), and is calculated by dividing the net income attributable to common shareholders of each business by the weighted average diluted Eversource Energy common shares outstanding for the period. The earnings and EPS of each business do not represent a direct legal interest in the assets and liabilities of such business, but rather represent a direct interest in Eversource Energy's assets and liabilities as a whole. Full year 2024 earnings discussion includes a non-GAAP financial measure referencing earnings and EPS excluding a loss on the sales of the offshore wind equity method investments and a loss on the pending sale of the Aquarion water distribution business. Eversource Energy uses these non-GAAP financial measures to evaluate and provide details of earnings results by business and to more fully compare and explain results without including these items. This information is among the primary indicators management uses as a basis for evaluating performance and planning and forecasting of future periods. Management believes the impacts of the loss on the offshore wind equity method investments and the loss on the pending sale of the Aquarion water distribution business are not indicative of Eversource Energy's ongoing costs and performance. Management views these charges as not directly related to the ongoing operations of the business and therefore not an indicator of baseline operating performance. Due to the nature and significance of the effect of these items on net income attributable to common shareholders and EPS, management believes that the non-GAAP presentation is a more meaningful representation of Eversource Energy's financial performance and provides additional and useful information to readers of this report in analyzing historical and future performance of the business. These non-GAAP financial measures should not be considered as alternatives to reported net income attributable to common shareholders or EPS determined in accordance with GAAP as indicators of Eversource Energy's operating performance. Eversource Energy makes statements concerning its expectations, beliefs, plans, objectives, goals, strategies, assumptions of future events, future financial performance or growth and other statements that are not historical facts. These statements are 'forward-looking statements' within the meaning of U. S. federal securities laws. Readers can generally identify these forward-looking statements through the use of words or phrases such as 'estimate,' 'expect,' 'pending,' 'anticipate,' 'intend,' 'plan,' 'project,' 'believe,' 'forecast,' 'would,' 'should,' 'could' and other similar expressions. Forward-looking statements involve risks and uncertainties that may cause actual results or outcomes to differ materially from those included in the forward-looking statements. Forward-looking statements are based on the current expectations, estimates, assumptions or projections of management and are not guarantees of future performance. These expectations, estimates, assumptions or projections may vary materially from actual results. Accordingly, any such statements are qualified in their entirety by reference to, and are accompanied by, the following important factors that may cause actual results or outcomes to differ materially from those contained in forward-looking statements, including, but not limited to cyberattacks or breaches, including those resulting in the compromise of the confidentiality of our proprietary information and the personal information of our customers; the ability to qualify for investment tax credits and investment tax credit adders; variability in the costs and final investment returns of the Revolution Wind offshore wind project as it relates to the purchase price post-closing adjustment under the terms of the sale agreement for the project; disruptions in the capital markets or other events that make our access to necessary capital more difficult or costly; changes in economic conditions, including impact on interest rates, tax policies, tariffs, and customer demand and payment ability; ability or inability to commence and complete our major strategic development projects and opportunities; acts of war or terrorism, physical attacks or grid disturbances that may damage and disrupt our electric transmission and electric, natural gas, and water distribution systems; actions or inaction of local, state and federal regulatory, public policy and taxing bodies; substandard performance of third-party suppliers and service providers; fluctuations in weather patterns, including extreme weather due to climate change; changes in business conditions, which could include disruptive technology or development of alternative energy sources related to our current or future business model; contamination of, or disruption in, our water supplies; changes in levels or timing of capital expenditures; changes in laws, regulations, Presidential executive orders or regulatory policy, including compliance with environmental laws and regulations; changes in accounting standards and financial reporting regulations; actions of rating agencies; and other presently unknown or unforeseen factors. Other risk factors are detailed in Eversource Energy's reports filed with the Securities and Exchange Commission (SEC)and are updated as necessary and available on Eversource Energy's website at and on the SEC's website at and management encourages you to consult such disclosures. All such factors are difficult to predict and contain uncertainties that may materially affect Eversource Energy's actual results, many of which are beyond our control. You should not place undue reliance on the forward-looking statements, as each speaks only as of the date on which such statement is made, and, except as required by federal securities laws, Eversource Energy undertakes no obligation to update any forward-looking statement or statements to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events.
Boston Globe
19-07-2025
- Business
- Boston Globe
In defense of Boston-area municipal clean energy programs
Advertisement These programs support renewable energy investments and jobs, let renters choose clean energy, and maintain competitive prices. Since its start, Somerville's basic rate has been below Eversource's basic rate for 16 out of 17 rate cycles, and Somerville's default rate has been below Eversource's basic rate for 15 out of 17 rate cycles. A true accounting of Somerville's program shows we have saved 29,000 annual participants a total of $26 million since July 2017 compared with Eversource. Get The Gavel A weekly SCOTUS explainer newsletter by columnist Kimberly Atkins Stohr. Enter Email Sign Up That's why Katjana Ballantyne Mayor of Somerville Consider the full impact of Boston Community Choice program Your recent article on the Boston Community Choice Electricity program presents a misleading picture of the program's costs and uses inflated assumptions about the electricity usage of Boston residents to estimate savings. Advertisement The article's first chart implies that BCCE charges residents more than Eversource for electricity. This is deeply misleading. Data filed with the Department of Public Utilities indicate that since the launch of BCCE in 2021, the average customer on the standard, or default, plan has saved approximately $800 compared with Eversource basic service. Further, the article inflates how much residents can save by switching from the standard to the basic plan. It assumes a monthly usage of 900 kilowatt-hours, while the city's data show the average BCCE customer uses less than 420 kWh per month — more than doubling the estimated bills and savings of the average resident. Within Greater Boston, aggregation programs have been a resounding success. Of the 81 municipalities served by Eversource and National Grid, 61 have aggregation programs, with eight more launching this year or awaiting approval. While there are opportunities to improve communications about program options and to see that low-income customers are automatically enrolled into the most affordable tier, aggregation programs are a proven way for municipalities to both save residents money and promote greater usage of renewable electricity. Jeremy Koo Assistant director of clean energy Metropolitan Area Planning Council Boston
Business Wire
09-07-2025
- Business
- Business Wire
Eversource Energy Schedules Second Quarter Earnings Call
HARTFORD, Conn. & BOSTON--(BUSINESS WIRE)--Eversource Energy will host an earnings conference call with financial analysts on Friday, August 1, 2025, at 9 a.m. Eastern Time, to discuss the company's financial performance and other business updates through the second quarter of 2025. Find the live webcast and recording of the earnings conference call on Eversource's Investors page. Investors and analysts wishing to participate in the Q&A session of the call and access the event via phone, please pre-register here. Pre-registration may be completed at any time up to the call start time. Eversource Energy will release its second quarter 2025 financial results on Thursday, July 31, 2025, after the market closes at 4 p.m. Eastern Time. Eversource (NYSE: ES), celebrated as a national leader for its corporate citizenship, is recognized as the #1 U.S. utility on TIME 's List of World's Best Companies for 2024. Eversource transmits and delivers electricity and natural gas and supplies water to approximately 4.6 million customers in Connecticut, Massachusetts and New Hampshire. The #1 energy efficiency provider in the nation, Eversource harnesses the commitment of more than 10,000 employees across three states to build a single, united company around the mission of safely delivering reliable energy and water with superior customer service. The company is empowering a clean energy future in the Northeast, with nationally recognized energy efficiency solutions and successful programs to integrate new clean energy resources like a first-in-the-nation networked geothermal pilot project, solar, offshore wind, electric vehicles and battery storage, into the electric system. For more information, please visit and follow us on X, Facebook, Instagram, and LinkedIn. For more information on our water services, visit
