Eversource Energy is a public utility holding company primarily engaged in the energy delivery business. It operates through several wholly-owned utility subsidiaries, including electric and natural gas distribution and transmission companies, as well as water distribution companies. The company's core business model focuses on delivering electricity, natural gas, and water to residential, commercial, and industrial customers across Connecticut, Massachusetts, and New Hampshire. Eversource's competitive advantages include its established infrastructure, regional presence, and expertise in regulated utility operations. The company also has an offshore wind business.

Eversource's primary markets are in the New England region, with a significant geographic presence in the states of Connecticut, Massachusetts, and New Hampshire. The company faces competition from other utilities, energy suppliers, and alternative energy providers in the region.

• Employees: 10,171 (as of December 31, 2023)
• Geographic Footprint: Connecticut, Massachusetts, and New Hampshire
• Headquarters: Boston, Massachusetts and Hartford, Connecticut
• Founded: Not explicitly stated in the 10K
• Number of locations/facilities: Not explicitly stated in the 10K
• Revenue: $11.9 billion (FY2023)
• Market Capitalization: $24.7 billion (as of June 30, 2023)
• Key Subsidiaries/Brands: CL&P, NSTAR Electric, PSNH, NSTAR Gas, EGMA, Yankee Gas, Aquarion

• CEO: Joseph R. Nolan, Jr. (since 2021)
• CFO: John M. Moreira (since May 4, 2022)
• Board Chair: Joseph R. Nolan, Jr. (since January 1, 2023)
• Other Key Executives: Gregory B. Butler (Executive Vice President and General Counsel), Paul Chodak III (Executive Vice President and Chief Operating Officer), Penelope M. Conner (Executive Vice President-Customer Experience and Energy Strategy), James W. Hunt, III (Executive Vice President-Corporate Relations and Sustainability and Secretary), Susan Sgroi (Executive Vice President-Human Resources and Information Technology), Jay S. Buth (Vice President, Controller and Chief Accounting Officer)

Key leaders have extensive experience in the utility and energy sectors.

• Annual Revenue: $11.9 billion (FY2023)
• Net Income: -$442.2 million (FY2023)
• Market Cap: $24.7 billion (as of June 30, 2023)
• Total Assets: $55.6 billion (as of December 31, 2023)
• Number of Employees: 10,171 (as of December 31, 2023)
• Key Financial Highlights: The company reported a net loss of $442.2 million in FY2023, which includes significant impairment charges related to its offshore wind investments. Excluding these charges, non-GAAP earnings were $1.52 billion.

Eversource provides a range of products and services across its operating segments:

• Electric Distribution: Delivery of electricity to residential, commercial, and industrial customers.
• Electric Transmission: Transmission of electricity across high-voltage lines.
• Natural Gas Distribution: Distribution of natural gas to residential, commercial, and industrial customers.
• Water Distribution: Provision of water services to residential, commercial, industrial, and municipal customers.
• Offshore Wind: Development of offshore wind projects.

Eversource operates through four reportable segments:

• Electric Distribution: Engaged in the distribution of electricity to retail customers in Connecticut, Massachusetts, and New Hampshire.
• Electric Transmission: Owns and maintains transmission facilities that are part of the New England power transmission grid.
• Natural Gas Distribution: Engaged in the distribution of natural gas to retail customers in Massachusetts and Connecticut.
• Water Distribution: Engaged in the distribution of water to retail customers in Connecticut, Massachusetts and New Hampshire.

The segments represent substantially all of Eversource's total consolidated revenues. CL&P, NSTAR Electric and PSNH do not report separate business segments.

Eversource's current strategic priorities include:

• Focusing on core utility operations and enhancing reliability.
• Investing in infrastructure upgrades and grid modernization.
• Pursuing clean energy initiatives, including offshore wind development.
• Improving customer service and engagement.
• Maintaining a strong financial position.

The company's long-term business goals include achieving carbon neutrality by 2030 and supporting the transition to a lower-carbon economy. Key strategic initiatives include the development of offshore wind projects, investments in grid modernization, and the implementation of energy efficiency programs. Eversource is also focused on innovation and the development of alternative energy sources. The company's future outlook is focused on sustainable growth and meeting the evolving needs of its customers.

Eversource operates primarily in the regulated utility industry. Key market trends affecting the business include the increasing demand for clean energy, the need for grid modernization, and the impact of climate change. The company faces competition from other utilities, energy suppliers, and alternative energy providers in the New England region. Market share information is not explicitly stated in the 10K.

• Primary Industry: Regulated Utility
• Market Position: Not explicitly stated in the 10K
• Key Competitors: Not explicitly stated in the 10K
• Industry Trends: Increasing demand for clean energy, grid modernization, climate change

• Cybersecurity Threats: The company faces increasing cybersecurity threats and attacks, which could severely impair operations, lead to the disclosure of confidential information, and adversely affect the company's reputation.
• Offshore Wind Business Risk: The company's financial position and future results could be materially adversely affected if it is unable to sell its 50 percent interests in three offshore wind projects on the timelines, terms and pricing it expects, if it and the counterparties are unable to satisfy all closing conditions and consummate the purchase and sale transactions with respect to its offshore wind assets, or if the projects do not commence operation as scheduled or within budget.
• Regulatory, Legislative and Compliance Risks: Actions by regulators and legislators could result in outcomes that may adversely affect the company's earnings and liquidity.
• Risk Related to the Environment and Catastrophic Events: The effects of climate change, including severe storms, could cause significant damage to any of the company's facilities requiring extensive expenditures, the recovery for which is subject to approval by regulators.
• Business and Operational Risks: Strategic development or investment opportunities in electric transmission, distributed generation, or clean-energy technologies may not be successful, which could have a material adverse effect on the company's business prospects.