Eversource Energy (d/b/a) · NYSE:ES

Eversource Energy (d/b/a) — Eversource Energy — Q3 2022 Earnings Presentation

17 slides from Eversource Energy (d/b/a)'s earnings presentation, Nov 3, 2022

  1. Slide 1: 2022 Third Quarter Results

    EVERSOURCE ENERGY Q3 2022 RESULTS 2022 Third Quarter Results November 3, 2022

  2. Slide 2: Safe Harbor Statement

    EVERSOURCE ENERGY Q3 2022 RESULTS Safe Harbor Statement All 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

  3. Slide 3: Agenda

    EVERSOURCE ENERGY Q3 2022 RESULTS Agenda Joe Nolan  Business Update President & CEO  Winter Energy Pricing & Supply Challenges  Offshore Wind Update  Q3 2022 Financial Results John Moreira  Regulatory Update CFO & Treasurer  Financing Activity Update 2

  4. Slide 4: Offshore Wind Update

    EVERSOURCE ENERGY Q3 2022 RESULTS Offshore Wind Update  South Fork Wind construction continues to progress – Construction of conduit system in town roads and along the Long Island Railroad is ahead of schedule and nearly complete – Construction of the marine portion of the project will begin this m

  5. Slide 5: Overview of Offshore Wind Procurement by State

    EVERSOURCE ENERGY Q3 2022 RESULTS Overview of Offshore Wind Procurement by State  New York and Rhode Island conducting solicitations for up to 4,600 MW and 1,000 MW, respectively (In MWs) OSW Target Awarded Remaining Authority Massachusetts 5,600 3,209 2,391 Rhode Island 1,438 438 1,000 Connecticut

  6. Slide 6: Third Quarter and Nine Months 2022 Financial Results

    EVERSOURCE ENERGY Q3 2022 RESULTS Third Quarter and Nine Months 2022 Financial Results 3Q 2022 3Q 2021 3Q Change 9M 2022 9M 2021 9M Change Electric Transmission $0.44 $0.40 $0.04 $1.32 $1.20 $0.12 Electric Distribution 0.65 0.62 0.03 1.43 1.31 0.12 (Non-GAAP) Natural Gas Distribution (0.07) (0.06) (

  7. Slide 7: Well Performing Core Businesses Expected to Drive EPS CAGR to Upper Half of 5 – 7% Through 2026

    EVERSOURCE ENERGY Q3 2022 RESULTS Well Performing Core Businesses Expected to Drive EPS CAGR to Upper Half of 5 – 7% Through 2026 $4.04- $4.14 $3.11 $3.25 $3.45 $3.64 $3.86 $2.53 $2.65 $2.81 $2.96 $2.28 2012A* 2013A* 2014A* 2015A* 2016A 2017A 2018A 2019A* 2020A* 2021A* 2022E* 2023E 2024E 2025E 2026E

  8. Slide 8: Proposed Capital Investments Needed to Unlock Renewable Distributed Energy Resources in Massachusetts

    EVERSOURCE ENERGY Q3 2022 RESULTS Proposed Capital Investments Needed to Unlock Renewable Distributed Energy Resources (DER) in Massachusetts  Interconnection upgrades needed to deliver additional clean energy into our system – Current proposal would enable up to 1 GW of solar  Proposal establishe

  9. Slide 9: DER – Area Map of Six Solar Cluster Proposals

    EVERSOURCE ENERGY Q3 2022 RESULTS DER – Area Map of Six Solar Cluster Proposals Plainfield- Blandford I-90 I-91 MA CT Plymouth Freetown Marion/ Fairhaven Cape Dartmouth/ Westport 8

  10. Slide 10: DER Projects – Expected Investment Amounts

    EVERSOURCE ENERGY Q3 2022 RESULTS DER Projects – Expected Investment Amounts $637 $902 (1) ($ in Millions) Investment $265 Transmission Distribution Total Investment Investment Investment (1) Approximately 50% of the distribution cost (no transmission) would be reimbursed over time by the developers

  11. Slide 11: Rate Review Summary

    EVERSOURCE ENERGY Q3 2022 RESULTS Rate Review Summary NSTAR Electric Aquarion Connecticut  Expected decision date of December 1, 2022  Rate review filed on August 29, 2022  Rates effective on January 1, 2023  First rate review in nearly a decade  Revenue deficiency of $93M  Expected decision d

  12. Slide 12: Equity Issuance Update

    EVERSOURCE ENERGY Q3 2022 RESULTS Equity Issuance Update New Shares Treasury Shares  $1.2 billion At-The-Market  Dividend reinvestment, Program has issued 2.17M employee equity programs shares at a weighted average continue with approximately price of $92.31 through October 810,000 shares issued Y

  13. Slide 13: APPENDIX

    EVERSOURCE ENERGY Q3 2022 RESULTS APPENDIX 12

  14. Slide 14: Inflation Reduction Act

    EVERSOURCE ENERGY Q3 2022 RESULTS Inflation Reduction Act Impact on Offshore Wind Review Impact on Regulated Businesses  Tax credits extended to 2032  Lower cost for customers related to  Additional 10% if qualified for regulated business investments in domestic content solar and battery storage

  15. Slide 15: Offshore Wind Updates

    EVERSOURCE ENERGY Q3 2022 RESULTS Offshore Wind Updates Assumptions July 2022 October 2022 Costs Locked in for Three Projects 82% 82% Offshore Investment to Date $1.5B $1.8B Expected Spending in 2022 $900M - $1B $900M - $1B Expected Spending 2023 - 2026 $3B - $3.6B $3B - $3.6B Expected Long-Term Ave

  16. Slide 16: Projected Capital Expenditures For Core Businesses

    EVERSOURCE ENERGY Q3 2022 RESULTS Projected Capital Expenditures For Core Businesses $18.1 Billion 2022-2026 $4,500 $4,000 $3,897 $3,684 $3,562 $3,541 $254 $3,494 $3,504 $3,500 $154 $224 $239 $163 $208 $203 $214 $3,053 $3,064 $144 $176 $190 $206 $3,000 $239 $921 $239 $849 $110 $127 $ In Millions $79

  17. Slide 17: AMI Implementation Under Active Review by MA and CT Regulators

    EVERSOURCE ENERGY Q3 2022 RESULTS AMI Implementation Under Active Review by MA and CT Regulators AMI - MA Briefing period ended June 27, 2022 Decision expected Q4 2022 AMI - CT Briefing period ended April 29, 2022 Additional written comments filed on July 20, 2022 Decision expected by either year en

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