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13:00
Jul 31 ◎

ES FY2026 Q2 Watch

Eversource Energy (D/B/A) (ES) FY2026 Q2 Earnings Call

IT CDW AGR ▾

John Moreira

Eversource's proposed $1 billion AMI investment for Connecticut has a slightly positive nominal net benefit but a negative NPV, which management attributes to delays in the regulatory docket that have increased costs. — Delays in regulatory approval are eroding the economic case for advanced metering infrastructure investments, potentially reducing the future capex opportunity for utilities and their suppliers.

"we have updated the analysis and the costs have gone significantly higher. So the benefits really haven't changed, now the cost component has changed and that's why we're really close."

IT WATCH CDW WATCH

Joe Nolan

Eversource and Avangrid's joint project was preliminarily selected as the preferred solution from six bids in ISO New England's transmission planning RFP, highlighting the competitive strength of the winning consortium. — This competitive win positions Eversource and Avangrid to make significant transmission investments (~$700M for ES) and signals the scale of new grid infrastructure required to solve regional congestion.

"ISO New England has preliminarily selected the joint proposal submitted by Eversource and Avangrid as the preferred solution."

AGR WATCH

HIGH

13:00
May 07 ◎

ES FY2026 Q1 Watch

Eversource Energy (D/B/A) (ES) FY2026 Q1 Earnings Call

DNNGY CEG ENB SPGI MCO ▾

Joe Nolan

Orsted's Revolution Wind project is near completion and expected online in H2 2026, adding 704 MW of supply to New England.

"Second, on Revolution Wind, as Orsted recently reported, the project is about 95% complete. The commercial operation date is still expected to be in the second half of this year"

DNNGY WATCH

Joe Nolan

Eversource purchased a site from Constellation for power injection, a transaction that highlights Eversource's interest in grid expansion.

"we did purchase a 26-acre site from Joe Dominguez at Constellation that's going to allow us to inject outputs of 2,400 megawatts of power into the region."

CEG WATCH

Joe Nolan

Eversource will partner with Enbridge on a gas pipeline enhancement in Massachusetts, signaling a collaborative project.

"they have approved a natural gas pipeline enhancement with Enbridge that we're going to partner with to bring in additional gas capacity into the region"

ENB WATCH

John Marrera

S&P reaffirmed Eversource's ratings post-FERC decision, indicating stability in credit assessment.

"On April 10th, following the FERC ROE decision, S&P reaffirmed its ratings and stable outlook for Eversource and our subsidiaries."

SPGI WATCH

John Marrera

Eversource discusses its FFO-to-debt metrics as calculated by S&P and Moody's, indicating a focus on maintaining credit strength.

"Our latest metrics are 14.2% and 14.5% for S&P and Moody's, respectively."

MCO WATCH

John Marrera

Eversource's 205 filing requires coordination with ISO New England, a key stakeholder in the transmission ROE process.

"Without this extension, first order would have required that we issue refunds within 30 days, ignoring the necessary process of working with ISO New England and load-serving entities throughout the region."

ISONY WATCH

John Marrera

Guidance was revised down for 2026 due to FERC ROE decision, but long-term growth reaffirmed; overall tone is cautiously managing regulatory headwinds.

"On the back of the FERC ROE decision, which lowered our transmission base ROE to 9.57, we did adjust our guidance for 2026, which John will reiterate in a few minutes. We are reaffirming our long-term earnings growth rate of 5% to 7% off"

ES WATCH

HIGH

14:00
Feb 13 ◎

ES FY2025 Q4 Watch

Eversource Energy (D/B/A) (ES) FY2025 Q4 Earnings Call

DNNGY ES ▾

Joe Nolan

Orsted is making progress on Revolution Wind with construction resumed and first power imminent, de-risking Eversource's contingent liability.

"as Orsted recently announced, The project is expected to achieve first power within the coming weeks. Orsted has also stated that construction of Revolution Wind has resumed since the preliminary injunction on the recent stop work order"

DNNGY WATCH

Joe Nolan

Management expresses confidence in long-term growth despite 2026 being a transition year, with earnings growth expected to accelerate towards the upper half of 5-7% by 2028.

"2026 will be a truly transformational year for us as we operate within a changing regulatory landscape and navigate affordability concerns. We are driving forward on several major fronts."

ES WATCH

HIGH

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