Slide 1: Eversource Energy Investor Call
EVERSSURCE ENERGY Eversource Energy Investor Call November 3, 2015
Slide 2: Safe Harbor
investor Call Safe Harbor EVERSSURCE ENERGY. Alll per share amounts in this presentation are reported on a diluted basis. The only common equity securities that are publicly traded are common shares of Eversource Energy. The earnings and EPS of each business do not represent a direct legal interest
Slide 3: Investor Call agenda
investor Call EVERSSURCE ENERGY Jim Judge ™ Q3 2015 Financial Results Executive Vice President & Chief Financial Officer * Regulatory and Capital Investment Update ™ New England Market Update = Northern Pass = Access Northeast Lee Olivier EVP Enterprise Strategy & Business Development
Slide 4: Jim Judge, Executive Vice President & CFO
EVERSSURCE ENERGY Jim Judge Executive Vice President & Chief Financial Officer
Slide 5: Earnings Per Share
Earnings Per Shai Electric Distribution Electric Transmission Natural Gas Distribution Q3 2015 Q3 2014 $0.48 $0.28 ($0.03) $0.02 EVERSSURC ENER( First 9 Months First 9 Months 2015 2014 $1.32 $1.10 $0.70 $0.65 $0.18 $0.14 $0.01 $0.04 Unchanged $0.75 ($0.01) ($0.02) ($0.04) Reported EPS (GAAP) $0.74 $
Slide 6: Key Drivers in Q3 Results
Key Drivers in Q3 Results 2014 2015 Results GAAP EPS Integration Costs EPS Excluding Integration Costs Changes Higher Retail Electric Revenues Lower Non-Tracked O&M Higher Depreciation, Amortization, Property Taxes Lower Transmission Earnings Due To Absence of Prior Year Tax Benefit Other, Including
Slide 7: Key Drivers in Improved YTD Results
Key Drivers in Improved YTD Results 2014 2015 Results GAAP EPS Integration Costs EPS Excluding Integration Costs Changes Higher Retail Electric Revenues Lower Non-Tracked O&M Higher Transmission Earnings Higher Firm Natural Gas Sales Higher Depreciation, Amortization, Property Taxes Other, Including
Slide 8: Regulatory Update - Massachusetts
Regulatory Update - Massachusetts MA Gas HOPCO LNG cost recovery (approved) Acceleratedlegacy pipe replacement (approved) NSTAR Gas proposed $23 million base rate increase effective 1/1/16 — Order issued 10/30/15 — $15.8 million increase — 9.8% ROE — 52.1% equity ratio — $475 million rate base — App
Slide 9: Progress on Major Transmission Reliability Projects
investor Call Progress on Major Transmission Reliability EVERSSURCE i ENERGY Projects a Interstate Reliability Project Greater Boston Reliability Solution + Joint project with National Grid + 31 projects including seven new transmission + Construction began in March 2014 lines, new substations and s
Slide 10: Lee Olivier, EVP Enterprise Energy Strategy & Business Development
EVERSSURCE ENERGY Lee Olivier EVP Enterprise Energy Strategy & Business Development
Slide 11: 1,090 MW of clean energy
1,090 MW of clean energy $1.6 billion HVDC line, terminal and AC facilities Approximately 192 miles of new transmission using HVDC technology with AC/DC converters in Quebec and NH DOE draft EIS issued July 21, 2015 Revised route announced August 18, 2015. Underground section increased from 8 miles
Slide 12: Ambitious Clean Energy Goals Will Impact Regional Prices
Ambitious Clean Energy Goals Will Impact Regional Prices Millions of Tons of COze Carbon Emissions Reduction Targets 1990 Actual 2025 Target 2050 Target Source: Eversource Ana}ysis investor Call EVERSSURCE ENERGY New England RPS Requirements MA: 22.1% by 2020, 1% increase thereafter >
Slide 13: Northern Pass Timeline
Northern Pass Timeline EVERSSURCE | ] ] | | | | | ] | | | | | | | | | | | |
Slide 14: New England States Addressing Energy Issues
investor Call : EVERSSURCE New England States Addressing Energy Issues ENERGY Three-State Clean Energy RFP + DEEP solicitation for clean energy and transmission - Comments filed on September 30 + Procurement authority includes: - PA 13-303 — 1,375,000 mwh annually - PA 15-107 — 2,750,000 mwh annuall
Slide 15: Access Northeast
investor Call Access Northeast - Designed to Provide a Lo! EVERSSURCE Solution to ENERGY a ™ Co-developed by Eversource Energy — 40%, Spectra Energy — 40%, National Grid - 20% access}northeast FD = Innovative, cost effective & environmentally responsible approach that will provide nearly 1 Bcf /day
Slide 16: New England States Addressing Gas Capacity Issues
investor Call EVERSSURCE ENERGY 5 of 6 New England States Addressing Gas Capacity Issues Electric Distribution Co. (EDC) Purchase of Natural Gas Pipeline Capacity Public Act 15-107 enacted June 22, 2015. RFPs under development and allows for CT | procurement of up to 375 mmef/day of gas infrastructu